By Rasmus Sjögren, Alexander Henje, Haris Jasarevic and Nikolas Kakona (Stockholm School of Economics); Nikhil Freiherr Raitz Von Frentz, Max Fischer, Daniel Barker and Moritz Ibe (University of St Andrews) Photo: Aron Marinelli (Unsplash) Overview of the deal Acquirer:   BlackRock’s Global Infrastructure Partners (GIP), EQT, California Public Employees Retirement System (CaIPERS) and Qatar Investment Authority (QIA) Target:   AES Corporation Implied Equity Value : USD $10.7

By Tomiwa Oshai, Harvey Han, Omar Kanaa, Utku Kaya and Nayoung Kim (King’s College London); Mateo Roman Sy, Nathaline Marielle, Jeongmin Oh, Linh Nguyen and Parth Talwar (Hong Kong University) Photo: Avi Waxman (Unsplash) Overview of the deal Acquirer:   Affinius Capital (lead) and Vista Hill Partners Target:   Veris Residential, Inc. Implied Equity Value: USD $1.78 billion Total Transaction Size : USD $3.4 billion Close Date: Q2 2026 (Expected) Target Advisor:   J.P. Morgan

By Ben Motamed, Archie Clarke, Emmanuel Olowe and Charlie Bark (Durham University), Ishan Panchal, Aaryan Kochhar, Lachlan Thomas, Oliver Moses and Zac Zaga (Monash University) Photo: Jeffery Blum (Unsplash) Overview of the deal Acquirer:  Blackstone (BXPE) Target:  Champions Group Previous Investor: Odyssey Investment Partners Total Transaction Size : $2.50B EV/EBITDA: ~18x Debt Financing: >$1.0 billion (Private Credit, SOFR + 4.5%) Announcement Date: 17/02/2026 Close Date:

By Chris Ruan (UCLA); Freya Zhang, Jacky Chan, Sharon Liu and Akshi Bansal (HKUST) Photo: Planet Volumes (Unsplash) Overview of the deal Acquirer: KKR and Singtel Target: ST Telemedia Global Data Centres (STT GDC) Implied Equity Value: $6.01 billion Total Transaction Size:  $10.9 billion Closed Date: Expected to close in second half of 2026 Target advisor:   J.P. Morgan (financial); Latham & Watkins (legal) Acquirer advisor:  Citi and Bank of America (financial); Simpson Tach

By Anastasia Malikova, Dennis Malaj, Gauri Khanna, Sarah Lee (LSE); Mateo Roman Sy, Nathaline Marielle, Jeongmin Oh, Linh Nguyen, Parth Talwar (HKU) Photo: Scott Graham (Unsplash) Overview of the deal Overview of the deal Acquirer: Oakley Capital Target: Global Loan Agency Services (GLAS) Implied Equity Value: $1.34 Billion Total Transaction Size:  $73.9 Million Closed date:  5 January 2026 Target advisor: Deutsche Bank (Financial), Robert W. Baird (Financial), Willkie Farr &

By Peyton Harvey, Dirk Harrison, Brandon Yip, Daniel Xu (Columbia University) Photo: Kelly Sikkema (Unsplash) Overview of the deal Acquirer:   Bain Capital Target:   FineToday Holdings Implied Equity Value: ~ $1.29 billion (¥200 billion) Total Transaction Size : ~ $1.29 billion (¥200 billion) Expected Close Date: Announced February 2, 2026 (Estimated closing mid-2026, pending regulatory approval) Target Advisor:   CVC Capital Partners (Internal), Nomura and Goldman Sachs Ac

By Edoardo Roveda and Cooper Wu (UCL); Sophie Zhang, Dominic Alino, Jordan Zhao and Joey Zhang  (Columbia University) Photo: Slava Denisov (Unsplash) Overview of the deal Acquirer:  Hg Capital Target:  OneStream Inc. Implied Equity Value:  $ 24 per share Total Transaction Size:  $6.4 billion Closing Date:  Expected first half of 2026 Target Advisor:  Wilson Sonsini Goodrich & Rosati (financial) Acquirer Advisor:  Information not publicly available, N/A Hg Capital’s acquisiti

By Ben Motamed, Charlie Bark, Archie Clarke, Emmanuel Olowe, James Midgley (Durham University); Alvaro Aguilar De Nalda (ESADE); Lisa Dai, Larry Cao, Jeffrey Kim, and Milan Agarwala (Columbia University) Photo: Piron Gillaume (Unsplash) Overview of the deal Acquirer:  EQT Target:  Coller Capital Transaction Type : All-stock acquisition funded thoroughly newly issued shares Total Transaction Size:  $3.2 billion Closing Date:  Q3 2026, subject to regulatory approval Target Advi

By Alvaro Aguilar De Nalda and Giuseppe Leonardo Mazza (ESADE); Diana Usova and Oliver Cedar (Bristol University) Photo: Adi Goldstein (Unsplash) Overview of the deal Acquirer:  PAI Partners Target:  Innovad Group Implied Equity Value:  N/A Total Transaction Size:  N/A Closing Date:  Expected 1Q-2026 Target Advisor:  N/A Acquirer Advisor:   N/A PAI Partners’ acquisition of Innovad Group represents a notable transaction in the global animal health and nutrition space, taking a

By Haci Eren Sidar, Mustafa Arda Sis, Muthu Ramanathan, Josh Lai (University of Nottingham); Alvaro Aguilar De Nalda (ESADE) Photo: Siyuan (Unsplash) Overview of the deal Acquirer:  TriArtisan Capital Advisors, Treville Capital Group and Yadav Enterprise Target:  Denny’s Implied Equity Value : US$321.8 billion Total Transaction Size:  $620 million (cash consideration, Enterprise Value) Closing Date:  Q1 2026 (expected) Target Advisor:   Truist Securities (financial), Morgan,

By Mateo Sy, Linh Nguyen, Nathaline Marielle, Jeongmin Oh, Parth Talwar (HKUST); Alvaro Aguilar De Nalda (ESADE); Benedict Murphy, Shivam Gujral (University of Cambridge) Photo: Dominic Kurniawan Suryaputra (Unsplash) Overview of the deal Acquirer:  Jardine Strategic Limited (“Bidco”), a wholly-owned subsidiary of Jardine Matheson Holdings Limited Target:  Mandarin Oriental International Ltd Implied Equity Value : US$4.2 billion Total Transaction Size:  The remaining 11.96%

By Arthus Marande, Christopher Putnis, Namien Koné, Mattia Colombo (ESCP); Freya ZHANG, Jacky CHAN, Sharon Liu, Akshi Bansal, Chak Li (HKUST). Photo: Khanh Nguyen Overview of the deal Acquirer: Blackstone, TPG, and other minorities (ADIA, GIC) Target:  Hologic, Inc. Implied Equity Value: $17.67bn Total Transaction Size:  $18.3bn (EV) Closed date:  Pending; expected H1 2026 (45-day go-shop in the agreement) Target advisor: Citi (Financial); Kirkland & Ellis (Legal); Ropes & G

By Harvey Han, Utku Kaya, Omar Kanaa, Nayoung Kim, Tomiwa Oshai (King’s College London) and Nikhil Freiherr Raitz Von Frentz, Max Fischer, Daniel Barker, Moritz Ibe (University of St Andrews) Photo: Getty Images (Unsplash) Overview of the deal Acquirer: Lone Star Funds Target:  Hillenbrand Inc. Implied Equity Value: $3.8 billion ($32 per share) Total Transaction Size:  $3.8 billion (All-cash) Closed date:  The end of 1Q 2026 (Expected) Target Advisors: Jefferies LLC, UBS Inve

By Mateo Rafael Roman Sy, Nathaline Marielle Lukito, Nguyen Thi Hong Linh, Parth Talwar, and Jeongmin Oh (The University of Hong Kong), Edoardo Roveda, Alesha Jaswal, Mikhail Sinev, and Cooper Wu (University College London) Photo: Crystal Kwok Overview of the deal Acquirer: Berkshire Hathaway Target:  OxyChem Implied Equity Value: $9.7 Billion Total Transaction Size:  $9.7 Billion Closed date:  October 2, 2025 Target advisor: Barclays (Financials), Cravath, Swaine & Moore LLP

By Anastasia Malikova, Dennis Malaj, Gauri Khanna, Sarah Lee (LSE); Aman Prasad, Ibrahim Demir, Jiaqi Tang, Oli Greenhalgh (University of Birmingham) Photo: Florian Olivo Overview of the deal Acquirer: PIF, Silver Lake, and Affinity Partners Target: Electronic Arts (EA) Total Transaction Size: $55 billion Closed Date : Expected in Q1 FY27 Target Advisors: Goldman Sachs & Co. LLC (Financial); Wachtell, Lipton, Rosen & Katz (Legal) Acquirer Advisors : J.P. Morgan Securities LL

By Parth Talwar, Mateo Sy, Grace Pui, Karson Shi (HKU) Photo: Arpad Czapp (Unsplash) Overview of the deal Acquirer: Sycamore Partners...

By Jens Bager, Sam Elfström, Elliot Christophers (Stockholm School of Economics); Annabel Lai, Edward Fung, Kelvin Chan, Krist Ou (Hong...

By Giulia Biagioli (Bocconi University); Giorgio Goretti and Marco Morchio (ESADE) Photo: Xibei Jia (Unsplash) Overview of the deal...

By Ben Marmor, Vincent Daly, Kaiona Wagatsuma, Nathaniel Baker (Cornell University); Ben Preece, Lukas Ehrlich, Joe Taylor , Annant...

By James Searle, Greg Dargue, Cameron Hansell and Ben Motamed (Durham University); Nika Karimi Seffat, George Luo, Keshi Edirisinghe,...