By Haci Eren Sidar, Mustafa Arda Sis, Muthu Ramanathan, Josh Lai (University of Nottingham), Arthus Marande, Olivia Riera Ripoll, Christopher Putnis, and Nehir Yanmaz (ESCP) Photo: Joshua Lawrence (Unsplash) Overview of the deal Acquirer: Banco Santander Target: Webster Financial Corporation Implied Equity Value: $12.2bn Total Transaction Size:  ~$14.5bn Closed date:  H2 2026 Target advisor: Centerview Partners, Goldman Sachs, and Bank of America Europe DAC (financial), Davis

By Utku Kaya, Omar Kanaa, Nayoung and Harvey Han (King's College University), Alvaro Aguilar De Nalda (ESADE); Charlie Mercuri, Daniel Blitenthall, Charlie Mercuri and Aikie Davoren (Melbourne University) Photo: Alexandre Debiève (Unsplash) Overview of the deal Acquirer:  Eaton Corporation Target:  Boyd Thermal (Thermal business of Boyd Corporation) Implied Equity Value : $9.5 billion Total Transaction Size:  $9.5 billion Closing Date:  2Q 2026 (Estimated)  Target Advisor:  G

By Haci Eren Sidar, Mustafa Arda Sis, Muthu Ramanathan, Josh Lai (University of Nottingham); Rasmus Sjögren, Alexander Henje, Haris Jasarevic, Nikolas Kakona (Stockholm School of Economics) Photo: Stella de Smit Overview of the deal   Acquirer: Heineken N.V. Target: Florida Ice and Farm Company S.A. (FIFCO) – beverage, food and retail businesses (Distribuidora La Florida and related operations) Total Transaction Size:  $3.2 billion (cash consideration, Enterprise Value) Close

By Edward Fung, Freya Zhang, Henry Yum, Sanghyeon Kim (HKUST); Moritz Ibe, Avital Anoff, Lukas Ehrlich, Annant Bhargava (University of St...

By Sean Millar, Ben Preece, Moritz Ibe, and Junqi Wang (University of St Andrews) ; Sam Oberly, Julia Weinrod, Yuyu Huang, Talia...

By Rafi Glass, Yana Zharkova, James Searle, Guy Collins, Ruiting Yi, and Marcin Wolniewicz (Durham University) & Leo Fridjhon, Abraham...

By Jian Wee Soh, Yagnesh Patel, Aaren Tan, Arfred Garcia, Bharath Sivakumar, Gulled Bulhan (Imperial College London), and Heather Leung,...

By Xunliang Huang (University of Melbourne), Albert Ibekwe, Junqi Wang and Sean Millar (University of St Andrews) Photo: the blowup...

By Ayushman Mukherjee, Divy Dayal, and Matthew Liu (University of Cambridge), Gonzalo Riera-Ripoll, Felix Hooper and Rafi Glass (Durham...

By Athean Myat, Evan Schnell, James Ludlow and Nina Choophungart (Cornell University), and Ross Barrett, Tigran Minasian, Jian Wee Soh,...

By Anna Muizniece and Carl-Gabrial Jakobsson (Stockholm School Of Economics), Rhys Meredith, Salah Baaziz, Kian Patel, Oliver Platts,...

By Marvin Stenersen Stockholm and Carl-Gabriel Jakobsson (Stockholm School of Economics), Jack Lee, Ryan Chan, Jeremy Darmadi and Heather...

By Anna Muizniece, Marvin Stenersen, Gabriela Lenerte (Stockholm School of Economics), Tigran Minasian, Ross Barrett, Yagnesh Patel, Jian...