Analysis of recent M&A transactions
INTRODUCTION On September 27th, 2022, the Royal Bank of Canada ("RBC") announced the acquisition of Brewin Dolphin Holdings PLC, a multi-award-winning wealth management organization. The transaction was concluded at a final price of C$2.4 billion (£1.6 billion) on a fully diluted basis, representing 515 pence per share. As part of RBC, Brewin Dolphin will now … Continue reading RBC’S ACQUISITION OF BREWIN DOLPHIN
Introduction On October 20th Enel S.p.A. informed that it has signed, through Enel Grids s.r.l., an agreement to sell a 50% share in its wholly owned subsidiary Gridspertise s.r.l. to the Private Equity Fund CVC Capital Partners Fund VIII. The deal represents the first JV in Italy in the smart grids sector, as well the … Continue reading Enel sells 50% of its smart grid subsidiary gridspertise to CVC
Introduction: As of 1st November 2022, Johnson & Johnson announced that it will be acquiring Abiomed, for an enterprise value of approximately $16.6 billion, with $380.00 per share in cash. Existing Abiomed shareholders will also receive up to $35.00 per share in cash under a non-tradeable contingent value right (CVR). As per Joaquin Duato, the … Continue reading Johnson & Johnson acquires cardiovascular technology group in $16.6bn deal
INTRODUCTION On June 20th, 2022, Mondelez International Inc said it will buy US energy bar maker Clif Bar & Company for US$2.9 billion (RM12.7 billion) to expand its global snack bar business. Cadbury and Oreo owner Mondelez said it will get the Clif, Luna and Clif Kid brands of bars in its portfolio through the acquisition. … Continue reading Mondelēz is buying Clif Bar & Company for US$2.9 billion
On September 15th, Adobe announced it would purchase Figma for $20bn, making this acquisition the 8th largest M&A deal in the TMT sector in 2022. Since the announcement, this operation has drawn criticism over the price paid by Adobe and the target's valuation. Are those concerns legitimate? That's what we will evaluate in this article! … Continue reading Adobe – figma Deal: the price to pay for avoiding disruptions
Introduction On November 13th, 2021, Nike announced the acquisition of RTFKT, a creator-led organization producing digital artifacts, in particular sneakers, backed by NFTs. The deal would allow Nike to exploit the possibilities of the metaverse, leveraging RTFKT’s expertise and community. As announced by the CEO, this transaction serves Nike’s digital transformation objective, and it is the … Continue reading Nike enters Metaverse, acquiring collectibles studio RTFKT
About Celanese Celanese was founded in 1910 and grew to become a global firm with 7,700 employees, 25 production plants and 6 research centres around America, Europe, and Asia. It is a Texas-based global chemical and plastic producer, especially in the field of polymer and high-value materials revolving around plastic. It has a wide portfolio … Continue reading Celanese – Dupont Deal
ONE OF THE LARGEST LBOs IN HISTORY ACCEPTED – WILL IT GET TO THE FINISH LINE? On April 25th, several days after acquiring a 9.2% stake in Twitter, the richest man in the world, Elon Musk submitted a takeover offer at $54.20 per share, implying a total equity value of $43.4bn, to take Twitter Inc. … Continue reading Elon Musk’s Bid for twitter
Introduction On 23/11/2020, Crédit Agricole Italia S.p.A. ("Crédit Agricole Italia") announced a voluntary public tender offer on all shares of Credito Valtellinese S.p.A. ("Creval") with a total deal value of €876.87m. The deal was closed on 21/04/2021. Crédit Agricole Italia offered a price of €10.50 in cash per Creval share which represents a 20.76% premium … Continue reading Credit Agricole acquires Credito Valtellinese: a rising favourite in the NOrthern italian banking industry?
Bocconi Students M&A Circle 
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