Strategic M&A

May 4

Merck’s $10.8bn Acquisition of Prometheus Biosciences

By Athean Myat, Coby Lai, Michelle Liu, Carden Olsson and Angelina Gart (Cornell University) Photo: Sangharsh Lohakare (Unsplash)...

Apr 29

L’Oréal’s $2.53bn Acquisition of Aesop

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

Apr 25

Hipgnosis Songs Capital’s $100mn Acquisition of Justin Timberlake’s Music Catalogue

By Jack Lee, Heather Leung, and Jeremia Bryan Darmadi (HKUST), Nikitas Kitsantas, Carlotta Nardello (ESADE) Photo: Priscilla Du Preez...

Apr 22

UBS’s $3.3bn Acquisition of Credit Suisse

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

Apr 1

HSBC’s £1 Acquisition of Silicon Valley Bank UK

By Ross Barrett, Tigran Minasian, Jian Wee Soh, Kai Ye, Oscar Silva, and Yagnesh Patel, (Imperial College London), Junqi Wang, and Annant...

Mar 29

Sanofi’s $2.9bn Acquisition of Provention Bio

By Mathilde Heibig, Pierre Six, and Jingying Liu (HEC Paris), Athean Myat, Ana Almeida, Angelina Gart, Coby Lai, Michelle Liu, and Carden...

Mar 24

Pfizer’s $43bn Acquisition of Seagen

By Nishil Lakhani, Jack McGing, Frangiskos Kapatos and Dhruv Kotecha (University of Nottingham), Sameer Jain, Ishan Date and Michael...

Mar 17

BP’s $1.3bn Acquisition of TravelCenters of America

By Ritu Joseph and Anusha Kaushik (London Business School), Sonia Andrzejuk, Argyro Charizona, Mikołaj Borowiak and Vlad Marcu (Bocconi)...

Mar 15

Xylem’s $7.5bn Acquisition of Evoqua

By Jack Lee, Heather Leung and Sissi Zeng (HKUST), Rhys Meredith, Kian Patel, Oliver Platts, Samuel McCrea, Velizar Zlatev and Salah...

Mar 6

CVS Health’s $10.6bn Acquisition of Oak Street Health

By Atin Narain, Devina Aggarwal, Nathaniel Mathew and Omar Ali (Yale University), Xunliang Huang (University of Melbourne) Photo: Sam...

Mar 1

Novozymes’ $12.3bn Acquisition of Chr. Hansen

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

Feb 24

L3Harris’ $4.7bn Acquisition of Aerojet Rocketdyne

By Pierre Six, Jingying Liu and Mathilde Heibig (HEC Paris), Ayushman Mukherjee, Divy Dayal, Junseok Choi and Amar Mian (Cambridge)...

Feb 17

NRG Energy’s $2.8bn Acquisition of Vivint Smart Home

By Felix Hooper, Gonzalo Riera-Ripoll, Rafi Glass and Yana Zharkova (Durham University) and Nishil Lakhani, Jack McGing, Frangiskos...

Feb 14

Intercontinental Exchange’s $16bn Acquisition of Black Knight

By Jack Lee, Ryan Chan, Heather Leung and Terry Au-Yeung (HKUST), Friedrich von Storch, Enrique Pérez-Hernández and Ties Oudmayer (IE...

Feb 8

Pfizer’s $5.4bn Acquisition of Global Blood Therapeutics

By Matilda Oculy and Filip Stoilov (The University of Manchester), Ritu Joseph (London Business School) Photo: CDC (Unsplash) Overview of...

Feb 6

Nuvei’s $1.3bn Acquisition of Paya

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

Feb 1

GSK’s Demerger of Haleon

By Nancy Huang (University of Melbourne), Fuh Zhe Yi, Ahaan Roychowdhury and Harold Parra Halder (University College London) Photo: Mika...

Jan 30

Orange’s €18.6bn Merger with MásMóvil

By Kayla Ho, Michele Silvestri and Jia Jian Gan (LSE), Sonia Andrzejuk, Argyro Charizona, Mikołaj Borowiak and Vlad Marcu (Bocconi)...

Jan 26

AstraZeneca’s $1.8bn Acquisition of CinCor Pharma

By Albert Ibekwe (University of St Andrews), Athean Myat, Evan Schnell, James Ludlow and Nina Choophungart (Cornell University) Photo:...

Jan 23

Oracle’s $28bn Acquisition of Cerner Corporation

By Jian Wee Soh, Oscar Silver, Kai Ye, Tigran Minasian, Ross Barrett and Yagnesh Patel, (Imperial College London), Mathilde Heibig,...

Jan 17

RBC’s C$13.5bn Acquisition of HSBC Canada

By Jack Lee, Jeremia Darmadi, Heather Leung, Sissi Zeng and Victor Leung (HKUST), Ayushman Mukherjee, Matthew Liu and Divy Dayal...

Jan 12

Air India’s Merger with Vistara

By Ritu Joseph (London Business School), Rhys Meredith, Kian Patel, Oliver Platts, Samuel McCrea and Velizar Zlatev (University of...

Jan 6

Amgen’s $28bn Acquisition of Horizon Therapeutics

By Sameer Jain, Ishan Date and Michael Akullo (Wharton School), Fuh Zhe Yi, Ahaan Roychowdhury and Harold Parra Holder (University...

Jan 4

VillageMD’s $8.9bn Acquisition of Summit Health

By Xunliang Huang (the University of Melbourne) and Matilda Oculy, Filip Stoilov (The University of Manchester) Photo: Derek Finch...

Dec 22, 2022

Binance’s Acquisition of Sakura Exchange BitCoin

By Jack Lee, Ryan Chan, Heather Leung, Victor Leung (HKUST) and Ritu Joseph (London Business School) Photo: Kanchanara (Unsplash)...

Dec 10, 2022

Eutelsat’s $3.4bn merger with OneWeb

By Prerak Goel (LSE) Photo: NASA (Unsplash) Overview of the deal Acquirer: Eutelsat Target: OneWeb Total Transaction Size: $3.4bn Closed...

Dec 8, 2022

Estee Lauder’s $2.8bn Acquisition of Tom Ford

By Friedrich von Storch, Ties Oudmayer and Enrique Pérez-Hernández (IE University), Saihej Ailwadhi, Kian Patel, Samuel Mccrea, Oliver...

Nov 27, 2022

Broadcom’s $61bn Acquisition of VMware

By Xunliang Huang (University of Melbourne), Sameer Jain and Micheal Akullo (Wharton School) Photo: Sigmund (Unsplash) Overview of the...

Nov 27, 2022

Johnson & Johnson’s $16.6bn Acquisition of Abiomed

By William Dinsdale and Bilal Rashid (LSE), Priyanshu Srivastava, Amarthya Chandrappa, and Deepankumar Sakthive (Warwick) Photo: Jesse...

Nov 22, 2022

Schneider Electric’s $4.4bn Acquisition of AVEVA

By Sonia Andrzejuk, Argyro Charizona, Vlad Marcu, and Mikolaj Borowiak (Bocconi), Ross Barrett, Tigran Minasian, Jian Wee Soh, and...

Nov 17, 2022

Elon Musk’s $44bn Acquisition of Twitter

By Adil Amlaiky and Anish Umasuthan (McGill University), Ayushman Mukherjee, Junseok Choi, Matthew Liu and Divy Dayal (University of...

Nov 7, 2022

CVS’ $8bn Acquisition of Signify Health

By William Dinsdale and Bilal Rashid (LSE), Friedrich von Storch, Enrique Perez-Hernandez and Ties Oudmayer (IE) Photo: Nathaniel Yeo...

Oct 31, 2022

Kroger’s $24.6bn Acquisition of Albertsons

By Matilda Oculy and Filip Stoilov (University of Manchester), Sameer Jain and Micheal Akullo (Wharton School) Photo: No Revisions...

Oct 24, 2022

Capricorn to merge with NewMed to form MENA gas and energy champion for $7.2 bn

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

Oct 19, 2022

Amazon’s $3.9bn Acquisition of One Medical

By Jack Lee, Heather Leung and Terry Au-Yeung (HKUST), Sonia Andrzejuk, Argyro Charizona and Vlad Marcu (Bocconi) Photo: Hyttalo Souza...

Oct 11, 2022

Adobe’s $20bn Acquisition of Figma

By Ayushman Mukherjee, Junseok Choi, Matthew Liu, Amar Mian (Cambridge), Friedrich von Storch, Enrique Perez-Hernandez, Ties Oudmaijer...

Sep 12, 2022

Novartis’ spin-off of Sandoz business

By Sameer Jain (Wharton School), Eden Yang (London School of Economics) Photo: Freestocks (Unsplash) Overview of the deal Parent:...

Jun 12, 2022

Pfizer $11.6bn Acquisition of Biohaven

By Justin Leung, Jack Lee, Heather Leung, and Sissi Zeng (Hong Kong University of Science and Technology) Photo: Christina Victoria...

May 19, 2022

Thoma Bravo’s $6.9bn Acquisition of SailPoint

By Felix Hooper, Gonzalo Riera-Ripoll, Rafi Glass, Yana Zharkova (Durham University), Haozhe (James) Huang, Friedrich von Storch, Yujia...

May 19, 2022

Brookfield’s $10.2bn Acquisition of Ausnet

By Léo Clément, Dorian Song (HEC Paris), Nancy Huang, Daniel Acret (University of Melbourne) Photo: NASA (Unsplash) Overview of the deal...

Apr 16, 2022

Google’s $5.4bn Acquisition of Mandiant

By Haozhe (James) Huang , Friedrich von Storch and Yujia Bao (IE Business School), Mikail Boudouda and Florent Onguen (Grenoble École de...

Apr 7, 2022

Frontier Airlines $6.6bn Merger with Spirit Airlines

By Yair Trachtenberg, Ismael Fathy Martínez, Nikita Bezverkhniy, Markus Walter, and Julia Donato (ESADE), Justin Leung, Ryan Chan, and...

Mar 28, 2022

Central Group and Signa Holding’s $5.4bn Acquisition of Selfridges

By Jonathan Fuchs, Bilal Rashid, Billy Dinsdale, Oscar Fontaine (London School of Economics) and Tigran Minasian, Jian Wee Soh, Ross...

Mar 7, 2022

Madison Dearborn Partners $1.8BN Acquisition of MoneyGram

By Dillan Pindoria, Hassan Wahba, Holly Bridges, Bhav Rambhiya and Nishil Lakhani (University of Nottingham) and Felix Hooper, Gonzalo...

Feb 28, 2022

SoFi’s $1.1bn Acquisition of Technisys

By Shivaum Bapu, Daniel Winsor, Mohammed Safayat and Pristie Sharma (UCL) and Matilda Oculy and András Szabó (The University of...

Feb 16, 2022

Delivery Hero’s €2.3bn Acquisition of Glovo

By Yair Trachtenberg, Ismael Fathy Martínez, Nikita Bezverkhniy, Markus Walter, and Julia Donato (ESADE), Luc Roberts, Ben Schwarzmann,...

Feb 3, 2022

Take-Two’s $12.7bn Acquisition of Zynga

By Justin Leung and Ryan Chan (Hong Kong University of Science and Technology), Knut Örnéus, Anna Muižniece and Jacob Andersson...

Feb 3, 2022

Microsoft’s $69bn Acquisition of Activision Blizzard

By Nancy Huang (University of Melbourne) and Tudor Popescu, Bella Chen, Devashree Goenka, Jaden Wu, and Max Averbach (UChicago) Photo:...

Feb 2, 2022

Qualcomm’s $4.5bn Acquisition of Veoneer

By Haozhe (James) Huang , Friedrich von Storch, Yujia Bao (IE Business School), Olivier Baverez, Dorian Song, Théo Leleup (HEC) Photo:...

Jan 26, 2022

State Street’s $3.5bn Acquisition of Brown Brothers Harriman’s Investor Services Unit

By Adil Amlaiky, Paul Bernard, Francois Herman, and Blake Dal Santo (McGill University), Athean Myat, May Takagi, and James Ludlow...