By Shahmir Ahmed (Bocconi University); Shivam Gujral (University of Cambridge) Photo: Kevin Stadnyk (Unsplash) Summary of IPO York Space Systems (NYSE: YSS) is a US-based space and defence prime contractor providing mission-critical solutions across national security, government, and commercial markets. Founded in 2012 and backed by private equity firm AE Industrial Partners prior to its NYSE IPO in January 2026, York positions itself as one of the only vertically integrated

By Arthus Marande, Mattia Colombo, Namien Kone, Christopher Putnis, Olivia Riera Ripoll, and Nehir Yanmaz (ESCP); Aman Prasad, Oliver Greenhalgh and Jiaqi Tang (University of Birmingham) Photo: Jake Hills (Unsplash) Overview of the deal Acquirer: Paramount Skydance Corporation Target: Warner Bros. Discovery, Inc. Implied Equity Value: Approximately $81bn Total Transaction Size: Approximately $110bn enterprise value Closed Date: Not yet closed; expected to close in Q3 2026 Tar

By Shahmir Ahmed and Víctor Varela (Bocconi University); Aaryan Kochhar, Lachlan Thomas, Omid Alizadah (Monash University) Photo: Ryan (Unsplash) Overview of the deal Acquirer: ESPN, Inc. (Subsidiary of The Walt Disney Company and Hearst Communications) Target: NFL Network, NFL RedZone channel, and NFL Fantasy Implied Equity Value: $3.0 billion Total Transaction Size: $3.0 billion Closed date: Q1 2026 (Specifically, February 2026) Target advisor: Cravath, Swaine & Moore LLP;

By Leandro Zhang, Astrid Hsu, Kasra Shahenayati, and Ankit Walishetti (Columbia University) Photo: Myke Simon (Unsplash) Overview of the deal Acquirer: Netflix, Inc. Target: InterPositive Implied Equity Value: USD ~$600m Total Transaction Size: USD ~$600m Closed date: March 5, 2026 Target advisor: Willkie Farr & Gallagher LLP (legal), financial advisors not publicly disclosed Acquirer advisor: Simpson Thacher & Bartlett LLP (legal), financial advisors not publicly disclosed N

By Archie Clarke, Charlie Bark, Emmanuel Olowe, James Midgely, and Ben Motamed (Durham University) Photo: Mateo (Unsplash) Overview of the deal Acquirer: Savvy Games Group Target: Moonton Technology (Shanghai) Total Transaction Size : ~$6 billion (cash consideration) Closed Date: Expected Q2/Q3 2026 Target Advisor: Skadden, Arps, Slate, Meagher & Flom LLP (legal), not publicly disclosed (financial) Acquirer Advisor: Not publicly disclosed Savvy Games Group's $6 bil

By Edoardo Roveda and Cooper Wu (UCL); Alvaro Aguilar De Nalda (ESADE); Rasmus Sjögren, Alexander Henje, Haris Jasarevic and Nikolas Kakona (Stockholm School of Economics) Photo: Red John (Unsplash) Overview of the deal Acquirer: Mubadala Capital Target: Clear Channel Outdo Implied Equity Value: $2.43 per share Total Transaction Size: $7.80B Expected Close Date: Q3 2026 Target Advisor: Morgan Stanley; Moelis & Company (financial), Kirkland & Ellis LLP (legal) Acquirer Adviso

By Ben Motamed, Archie Clarke, Charlie Bark, James Midgley and Emmanuel Olowe (Durham University); Gunner Klith and Orion Haliburton (Columbia University) Photo: Albert Stoynov (Unsplash) Overview of the deal Acquirer: Micron Technology, Inc. Target: PSMC (Powerchip Semiconductor Manufacturing Corp) – P5 Fabrication Site (Tongluo, Taiwan). Implied Equity Value: USD $ 1.8 Billion (cash consideration) Total Transaction Size: USD $1.8 Billion Closed date: Expected Q2 2026 Ta

By Arthus Marande, Nehir Yanmaz, and Christopher Putnis (ESCP); Aman Prasad, Oliver Greenhalgh and Jiaqi Tang (University of Birmingham) Photo: SpaceX (Unsplash) Overview of the deal Acquirer: SpaceX Target: xAI Implied Equity Value : $250B (target evaluation)/ $1.25T (combined entity valuation) Closing Date: 2nd Feb Target Advisor: Sullivan & Cromwell LLP Acquirer Advisor: Gibson, Dunn and Crutcher LLP SpaceX’s acquisition of xAI represents a seminal moment in corporate

By Aikie Davoren, Charlie Mercuri and Daniel Blitenhall (University of Melbourne); Nikhil Freiherr Raitz Von Frentz, Max Fischer, Daniel Barker and Moritz Ibe (University of St Andrews) Photo: Suryadhityas (Unsplash) Summary of IPO Fluorescent-guided surgery (FGS) has been gaining momentum as hospitals look to improve surgical precision, reduce complications, and shorten recovery times. Within this niche, UltraGreen has built a strong position selling the dye used in these su

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 Anastasia Malikova, Dennis Malaj, Gauri Khanna, Sarah Lee (LSE); Alvaro Aguilar De Nalda (ESADE); Shahmir Ahmed, Alp Ceylan, Francesco Del Sesto (Bocconi) Photo: 1981 Digital (Unsplash) Summary of IPO Amagi Media Labs Ltd is a Bengaluru-based software-as-a-service (SaaS) technology company founded in 2008 that provides cloud-native broadcast, content distribution and advertising monetisation solutions for the media and entertainment industry. It enables broadcasters, conte

By Aman Prasad, Jiaqi Tang, Oliver Greenhalgh (University of Birmingham), Alvaro Aguilar De Nalda (ESADE); Freya ZHANG, Akshi Bansal, Jacky CHAN, Sharon Liu, Chak Li (HKUST) Photo: Adi Goldstein (Unsplash) Overview of the deal Acquirer: IBM Target: Confluent Implied Equity Value: $ 31 per share Total Transaction Size: $11.9 billion Closing Date: Expected mid-2026 Target Advisor: Morgan Stanley (financial), Cooley LLP (legal) Acquirer Advisor: Centerview Partners (fina

By Gilles Michaud and Marc Bellon (HEC Paris), Alvaro Aguilar De Nalda (ESADE); Edoardo Roveda, Alesha Jaswal, Mikhail Sinev, and Cooper Wu (University College London) Photo: Stephen Dawson (Unsplash) Overview of the deal Acquirer: Atlassian Corporation Target: DX Implied Equity Value: Approximately $1 billion in cash and restricted stock Total Transaction Size: ~ $1 billion Closed date: Announced September 18, 2025 and completed on November 10, 2025 Target advisor: Fenw

By Rasmus Sjögren, Alexander Henje, Haris Jasarevic, Nikolas Kakona (Stockholm School of Economics), Shivam Gujral (University of Cambridge) Photo: Brett Jordan (Unsplash) Overview of the deal Acquirer: T-Mobile US, Inc. – a leading American wireless carrier and subsidiary of Deutsche Telekom Target: Uscellular’s Wireless Operations – a regional wireless business of United States Cellular Implied Equity Value: US$4.3 billion Total Transaction Size: ~US$4.3 billion, includ

By Shahmir Ahmed, Alp Ceylan, and Francesco del Sesto (Bocconi University); Alvaro Aguilar De Nalda (ESADE); Nikhil Freiherr Raitz Von Frentz, Max Fischer, Daniel Barker, Moritz Ibe (University of St Andrews) Photo: Farzad (Unsplash) Summary of IPO Meesho is a Bangalore-based start-up that was founded by two IIT Delhi graduates in December 2015. It went public on the BSE and NSE the 10th of December 2025. It is a mobile-app-based e-commerce marketplace that lets small busines

By Alexander Svanidze, Ava Singer, Ryan Leo, Julianna Zelnhefer (Boston University); Alvaro Aguilar De Nalda (ESADE); Rasmus Sjögren, Alexander Henje, Haris Jasarevic, Nikolas Kakona (SSE) Photo: Quick PS (Unsplash) Overview of the deal Acquirer: Omnicom Group Target: Interpublic Group Implied Equity Value : $13.25 billion USD Total Transaction Size: $13.25 billion USD Closing Date: November 26, 2025 Target Advisor: Morgan Stanley (Financial), Willkie Farr & Gallagher L

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 Giorgio Goretti, Marco Morchio, Carlotta Nardello (ESADE); James Searle, Ben Motamed, Greg Dargue, Cameron Hansell (Durham University)...

By Kevin Xu , Ngoc Nguyen , Cooper Thompson (University of Melbourne); Amin Ouamar , Jules Bedrossian , Maximilien Kender (HEC Paris)...

By Aman Prasad, Andrea Defilippi, Jase Lall, Jill Shah, Sharmell Sonia D’Silva (University of Birmingham); Terry Zhang, George Luo (The...