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 Kush Mahawar, Xiao Xiao, Joe Colton and Sean Yeow (University of Oxford); Gilles Michaud and Marc Bellon (HEC Paris) Photo: Alexandre Debi è ve (Unsplash) Overview of the deal Acquirer: Power Finance Corporation (PFC) Target: Rural Electrification Corporation (REC) Implied Equity Value: Not fully disclosed (merger structure; earlier control stake transaction ≈ $2 billion (₹145 billion) for 52.63% of REC) Total Transaction Size:  Merger of two state-owned lenders creating a