Wells Fargo

BillionToOne’s IPO

By Kush Mahawar, Lexi Xiao, Sean Yeow and Joe Colton (University of Oxford); Cooper Thompson, Charlie Mercuri, Daniel Blitenthall and Aikie Davoren (University of Melbourne) Photo: Ashraful Islam (Unsplash) Summary of IPO BillionToOne, a molecular diagnostics company, raised $314 million on November 6, 2025, in an upsized initial public offering that stands as one of the largest MedTech IPOs of the year by capital raised. Despite the headwinds of a U.S. government shutdown an

Álvaro Aguilar de Nalda

Feb 184 min read

CD&R’s $10.3bn Acquisition of Sealed Air

By Arthus Marande, Olivia Riera Ripoll, Christopher Putnis, Nehir Yanmaz (ESCP); Alvaro Aguilar De Nalda (ESADE); Ben Motamed, Emmanuel Olowe, Charlie Bark, James Midgley, Archie Clarke (Durham) Photo: Getty Images (Unsplash) Overview of the deal Acquirer: Clayton, Dubilier & Rice (CD&R) Target: Sealed Air (NYSE: SEE) Implied Equity Value: $6.2bn Total Transaction Size: $10.3 billion Closing Date: Expected mid-2026 Target Advisor: Evercore (financial); Latham & Watkins

akshib27

Feb 114 min read

Union Pacific Corp’s $84.4bn Acquisition of Norfolk Southern Corporation

By Alp Ceylan, Elisa Nicoletti, and Victor Varela (Bocconi University); Alvaro Aguilar De Nalda (ESADE); Jiaqi Tang, Oli Greenhalgh and Ibrahim Demir (University of Birmingham) Photo: Acton Crawford (Unsplash) Overview of the deal Acquirer: Union Pacific Corp Target: Norfolk Southern Corp Transaction Type : Stock-and-cash acquisition Total Transaction Size: $84.4 billion Closing Date: The first half of 2027 (subject to regulatory approval) Target Advisor: BofA Securitie

Álvaro Aguilar de Nalda

Feb 66 min read