By Ben Motamed, Archie Clarke, Emmanuel Olowe and Charlie Bark (Durham University), Ishan Panchal, Aaryan Kochhar, Lachlan Thomas, Oliver Moses and Zac Zaga (Monash University) Photo: Jeffery Blum (Unsplash) Overview of the deal Acquirer:  Blackstone (BXPE) Target:  Champions Group Previous Investor: Odyssey Investment Partners Total Transaction Size : $2.50B EV/EBITDA: ~18x Debt Financing: >$1.0 billion (Private Credit, SOFR + 4.5%) Announcement Date: 17/02/2026 Close Date:

By Chris Ruan (UCLA); Freya Zhang, Jacky Chan, Sharon Liu and Akshi Bansal (HKUST) Photo: Planet Volumes (Unsplash) Overview of the deal Acquirer: KKR and Singtel Target: ST Telemedia Global Data Centres (STT GDC) Implied Equity Value: $6.01 billion Total Transaction Size:  $10.9 billion Closed Date: Expected to close in second half of 2026 Target advisor:   J.P. Morgan (financial); Latham & Watkins (legal) Acquirer advisor:  Citi and Bank of America (financial); Simpson Tach

By Anastasia Malikova, Dennis Malaj, Gauri Khanna, Sarah Lee (LSE); Mateo Roman Sy, Nathaline Marielle, Jeongmin Oh, Linh Nguyen, Parth Talwar (HKU) Photo: Scott Graham (Unsplash) Overview of the deal Overview of the deal Acquirer: Oakley Capital Target: Global Loan Agency Services (GLAS) Implied Equity Value: $1.34 Billion Total Transaction Size:  $73.9 Million Closed date:  5 January 2026 Target advisor: Deutsche Bank (Financial), Robert W. Baird (Financial), Willkie Farr &

By Peyton Harvey, Dirk Harrison, Brandon Yip, Daniel Xu (Columbia University) Photo: Kelly Sikkema (Unsplash) Overview of the deal Acquirer:   Bain Capital Target:   FineToday Holdings Implied Equity Value: ~ $1.29 billion (¥200 billion) Total Transaction Size : ~ $1.29 billion (¥200 billion) Expected Close Date: Announced February 2, 2026 (Estimated closing mid-2026, pending regulatory approval) Target Advisor:   CVC Capital Partners (Internal), Nomura and Goldman Sachs Ac

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 Ben Motamed, Charlie Bark, Archie Clarke, Emmanuel Olowe, James Midgley (Durham University); Alvaro Aguilar De Nalda (ESADE); Lisa Dai, Larry Cao, Jeffrey Kim, and Milan Agarwala (Columbia University) Photo: Piron Gillaume (Unsplash) Overview of the deal Acquirer:  EQT Target:  Coller Capital Transaction Type : All-stock acquisition funded thoroughly newly issued shares Total Transaction Size:  $3.2 billion Closing Date:  Q3 2026, subject to regulatory approval Target Advi

By Alvaro Aguilar De Nalda and Giuseppe Leonardo Mazza (ESADE); Diana Usova and Oliver Cedar (Bristol University) Photo: Adi Goldstein (Unsplash) Overview of the deal Acquirer:  PAI Partners Target:  Innovad Group Implied Equity Value:  N/A Total Transaction Size:  N/A Closing Date:  Expected 1Q-2026 Target Advisor:  N/A Acquirer Advisor:   N/A PAI Partners’ acquisition of Innovad Group represents a notable transaction in the global animal health and nutrition space, taking a

By Haci Eren Sidar, Mustafa Arda Sis, Muthu Ramanathan, Josh Lai (University of Nottingham); Alvaro Aguilar De Nalda (ESADE) Photo: Siyuan (Unsplash) Overview of the deal Acquirer:  TriArtisan Capital Advisors, Treville Capital Group and Yadav Enterprise Target:  Denny’s Implied Equity Value : US$321.8 billion Total Transaction Size:  $620 million (cash consideration, Enterprise Value) Closing Date:  Q1 2026 (expected) Target Advisor:   Truist Securities (financial), Morgan,

By Mateo Sy, Linh Nguyen, Nathaline Marielle, Jeongmin Oh, Parth Talwar (HKUST); Alvaro Aguilar De Nalda (ESADE); Benedict Murphy, Shivam Gujral (University of Cambridge) Photo: Dominic Kurniawan Suryaputra (Unsplash) Overview of the deal Acquirer:  Jardine Strategic Limited (“Bidco”), a wholly-owned subsidiary of Jardine Matheson Holdings Limited Target:  Mandarin Oriental International Ltd Implied Equity Value : US$4.2 billion Total Transaction Size:  The remaining 11.96%

By Arthus Marande, Christopher Putnis, Namien Koné, Mattia Colombo (ESCP); Freya ZHANG, Jacky CHAN, Sharon Liu, Akshi Bansal, Chak Li (HKUST). Photo: Khanh Nguyen Overview of the deal Acquirer: Blackstone, TPG, and other minorities (ADIA, GIC) Target:  Hologic, Inc. Implied Equity Value: $17.67bn Total Transaction Size:  $18.3bn (EV) Closed date:  Pending; expected H1 2026 (45-day go-shop in the agreement) Target advisor: Citi (Financial); Kirkland & Ellis (Legal); Ropes & 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 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 Parth Talwar, Mateo Sy, Grace Pui, Karson Shi (HKU) Photo: Arpad Czapp (Unsplash) Overview of the deal Acquirer: Sycamore Partners...

By Jens Bager, Sam Elfström, Elliot Christophers (Stockholm School of Economics); Annabel Lai, Edward Fung, Kelvin Chan, Krist Ou (Hong...

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

By Ben Marmor, Vincent Daly, Kaiona Wagatsuma, Nathaniel Baker (Cornell University); Ben Preece, Lukas Ehrlich, Joe Taylor , Annant...

By James Searle, Greg Dargue, Cameron Hansell and Ben Motamed (Durham University); Nika Karimi Seffat, George Luo, Keshi Edirisinghe,...

By Jack Liang, Anastasia Malikova, Shir Lyn Lau, Hunter Pang (LSE); Maximilien Kender, Jules Bedrossian and Amin Ouamar (HEC Paris) Photo:...

By James Searle, Greg Dargue, Cameron Hansell, Ben Motamed (Durham University); Aviral Jain, Leon Gaster, Adalia Melvin, Haci Eren Sidar...

By Yuyu Huang, Kelly Liu, Jenny Sun, Henry Yao (John Hopkins University) ; Pierre Caye, Cédrik Nadeau (McGill University) Photo: ...

By Edward Mazin (UCLA), Adam Bernabeu, Mahaut Bonnet de Roovere and Malo Inizan (HEC Paris) Photo: Ahmer Kalam (Unsplash) Overview of...

By George Luo, Keshi Edirisinghe, Nika Karimi Seffat, Terry Zhang (University of British Columbia), Edoardo Tosti, Alina Shaikh,...

By Kevin Xu, Nancy Huang (Melbourne University), Annabel Lai, Sanghyeon Kim, Freya Zhang, Edward Fung (HKUST University). Photo: Markus Spiske (Unsplash) Overview of the deal Acquirer : Blackstone Target : AirTrunk Total Transaction Size : AU$24 billion (US$16 billion) Closed date : N/A (Pending approval by Australian Foreign Investment Review Board) Deal Announcement Date : 09/04/2024 Target advisor: Goldman Sachs, Macquarie Capital, Grant Samuel (financial); DLA Piper,

By Melvin Bergeret, Bilal Chihuailaf, Arthur Delfour, Agathe Melhem, Clément Melusson,  Axel Nkam, Victor Zheng (ESCP Business School) &...

By Ryan Luk, Aviral Jain, Keerthi Komati and Dhruv Kotecha (University of Nottingham), and Carlotta Nardello (ESADE) Photo: Ahmed...

By Enrique Perez-Hernandez, Tarvo Simons, Taha Yassine, Michael Joachim ten Eicken, and Juan Pelaez (IE University) ; Edward Mazin,...

By Jian Wee Soh, Kai Ye, Bharath Sivakumar, Aaren Tan, Arfred Garcia (Imperial College London), Devina Aggarwal, Atin Narain, Omar Ali,...

By Marvin Stenersen, Angyan Liu, Douglas Dalén (Stockholm School of Economics), Rhys Meredith, Velizar Zlatev, Ben Jackson, Aditi Singh,...

By Ana Almeida, Caroline Brandvold, Morrison Dobere, Angelina Gart, Nick Laterza, and Aanjay Patel (Cornell University); Aviral Jain,...

By Ngoc Nguyen, William Hodgson, Joanne Zhu and Xunliang Huang (University of Melbourne) ; Erica Chan, Jonathan Liu, Hunter Pang and...

By Atin Narain, Nathaniel Mathew, Omar Ali, Shreyas Mehta, Devina Aggarwal (Yale University), Aditi Singh, Ben Jackson, Rhys Meredith,...

By Friedrich von Storch, Enrique Pérez-Hernández and Ties Oudmayer (IE University), Ritu Joseph and Anusha Kaushik (London Business...

By Rhys Meredith, Kian Patel, Oliver Platts, Velizar Zlatev and Salah Baaziz (University of Bristol), Jia Jian Gan, Kayla Ho and Michele...

By Mikolaj Borowiak, Argiro Charizona, Sonia Andrzejuk, Vlad Marcu (Bocconi), Gabriela Lenerte, Carl-Gabriel Jakobsson (Stockholm School...

By Abdallah Zakaria, Filip Stoilov and Matilda Oculy (The University of Manchester), Friedrich von Storch, Enrique Pérez-Hernández and...

By Marvin Stenersen and Gabriela Lenerte (Stockholm School of Economics), Michele Silvestri, Kayla Ho and Jia-Jian Gan (LSE) Photo: Timo...

By Sean Millar, Matthew Moran and Pramoth Ragavan (University of St Andrews), and Adil Amlaiky (McGill University) Photo: Hal Gatewood...

By Priyanshu Srivastava, Faisal Zia, Samuel Smith and Amarthya Chandrappa (University of Warwick), Sameer Jain (Wharton School) Photo:...

By Samuel Smith, Rhodie Lianne Ferrer, Deepankumar Sakthive and Amarthya Chandrappa (University of Warwick), Adil Amlaiky, Juan Bátiz,...

By Marvin Stenersen and Gabriela Lenerte (Stockholm School of Economics), Friedrich von Storch, Enrique Pérez-Hernández and Ties Oudmayer...

By Mohammad Faisal Zia, Priyanshu Srivastava, Deepankumar Sakthivel and Amarthya Chandrappa (University of Warwick), Pierre Six, Mathilde...

By Carl-Gabriel Jakobsson, Charlie Blidén (Stockholm School of Economics) and Ayushman Mukherjee, Junseok Choi, Matthew L, Amar Mian...

By Matilda Oculy, Filip Stoilov and Deimante Chailenko (The University of Manchester), Pierre Six, Mathilde Heibig, Jingying Liu and...

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

By Mohammad Faisal Zia, Samuel Smith, and Rhodie Ferrer (University of Warwick), and Yair Trachtenberg, Nikita Bezverkhniy, Markus...

By Rhys Merideth, Oliver Platts, Kian Patel, Velizar Zlatev, Saihej Ailwadhi and Nial Nolan (University of Bristol), Nancy Huang...

By Théo Leleup and Tom Bendinelli (HEC Paris), Nishil Lakhani (University of Nottingham) Photo: Nathan Dumlao (Unsplash) Overview of the...

By Marvin Stenersen (Stockholm School of Economics) Photo: Tim Trad (Unsplash) Introduction With deal volume growing in Asia, EQT has...

By Adil Amlaiky and Blake Dal Santo (McGill University), and Saihejpal Ailwadhi, Kian Patel, Rhys Meredith, Nial Nolan, Oliver Platts,...