Explore mergers and acquisitions from every angle — from deal structures and valuation methods to strategy, divestments, and private equity insights. We also breakdown prominent IPOs.
M&A
Most deal teams spend disproportionate time negotiating warranties and disclosure letters. But the real economics of post-closing risk are not determined there. They are determined in the liability limitations section of the SPA. A warranty is only as valuable as the mechanism that governs whether a breach results in recovery.
M&A
In September 2021, Intuit paid $12 billion in cash and stock for Mailchimp — an email marketing platform that had never raised a single dollar of outside capital. Co-founders Ben Chestnut and Dan Kurzius had spent twenty years building the company from a side project into a machine generating $800 million
M&A
In M&A, the headline price is rarely the final price. Between signing and closing, the target keeps operating: receivables are collected, payables come due, inventory turns, and accruals change. A working capital adjustment exists to account for that movement. That sounds technical. It is not. In many private
M&A
Most deal teams treat the choice between locked box and completion accounts as a drafting preference. It isn’t. It’s a structural decision about who bears economic risk, who controls financial information, and how much trust exists between buyer and seller. Choose the wrong mechanism—and you don’t
M&A
In July 2025, a UK High Court judge ordered Mike Lynch's estate to pay Hewlett Packard Enterprise $945 million — the culmination of a 14-year legal battle rooted in the question of what Autonomy's sellers had represented about the business they were selling. HP had paid $11.
M&A
Executive Summary In January 2026, EQT AB announced the acquisition of Coller Capital in a transaction valued at $3.2bn upfront, with a $500m performance-based earn-out, bringing total potential consideration to $3.7bn. The deal marks EQT’s first major entry into the private equity secondaries market and establishes a
M&A
Mergers and acquisitions remain one of the most powerful, and perilous, levers for corporate growth. Boards approve deals to accelerate market entry, acquire capabilities, and unlock economies of scale. Yet history is unforgiving: between 70% and 90% of mergers fail to achieve their intended value, despite rigorous due diligence and
M&A
Why the Medline IPO Matters When Medline Industries finally rang the Nasdaq bell in December 2025, it wasn’t just another IPO — it was the end of a 44-year private run by one of the most influential companies in U.S. healthcare logistics. At $6.26 billion raised and a
M&A
On 8 December 2025, IBM announced it will acquire Confluent (CFLT) in an all-cash transaction valuing the data-streaming company at about $11 billion, or $31 per share. That’s roughly a 34–35% premium to where Confluent was trading before deal rumors surfaced, and it ranks as IBM’s second-largest
M&A
Did the Streaming Wars Just End? On 5 December 2025, Netflix signed a definitive agreement to acquire the core studio and streaming assets of Warner Bros. Discovery (WBD) for an enterprise value of $82.7 billion. Structurally, this is not a simple scale play. It’s a bet that combining:
M&A
TL;DR (Key Takeaways) * Deal Size: ≈€2.5B enterprise value (EV), placing Atlético among the top three most valuable football club transactions ever. * Buyer: Apollo Sports Capital (ASC), the newly launched $5B dedicated sports fund under Apollo Global Management. * Stake Acquired: ~55% majority control, with reported range 51–55%. * Equity
M&A
TL;DR (Key Takeaways) * Deal Size: $55B enterprise value – the largest leveraged buyout (LBO) in history. * Buyers: Saudi Arabia’s Public Investment Fund (PIF) (majority stake), Silver Lake, and Affinity Partners. * Financing: ~$36B equity + $20B debt (underwritten by JPMorgan). * Valuation: $210/share cash offer, ~25% premium to pre-rumor price. * Timeline:
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