By Shivam Gujral and Benedict Murphy (University of Cambridge); Terry Zhang, Scarlet Park, and Krissa Mou (University of British Columbia) Photo: Philippe Oursel (Unsplash) Overview of the deal Acquirer:   Hapag-Lloyd AG Target:   ZIM Integrated Shipping Services Ltd. Implied Equity Value: US$4.2 billion Total Transaction Size : 100% of ZIM's shares at US$35.00 per share in cash - representing a 58% premium to ZIM's closing price on 13 February 2026, a 90% premium to its 90-

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

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

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 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 Zoe Thaller, Arthus Marande (ESCP); Amya Hillis, Abraham Vongkhamdy, Irene Souny Bihr, Leo Fridjhon, Janira Martinez, Christian...

By Moritz Ibe, Ben Preece, Avital Anoff, Annant Bhargava (University of St Andrews); Haci Eren Sidar, Leon Gaster, Adalia Melvin, Aviral...

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