Since 2014, specialising in Mergers & Acquisitions
After months of intense talks, on March 23, Banca Popolare di Milano (PMI:IM) and Banco Popolare (BP:IM) agreed to merge and to form the third largest bank in Italy by assets (€170bn). The deal comes after a tacit approval by the ECB and is probably only the first step of an anticipated bigger consolidation process. … Continue reading Top of the Pops: Banco Popolare and BPM merge to create Italy’s third largest bank
On the 8th of April, Mediaset agreed to sell its pay-tv business to the European media conglomerate Vivendi, creating a partnership that is set to trigger the long-awaited consolidation in the industry. In this article, we took in consideration the main drivers of the deal, verifying coherence with industry trends, underlining the structure and trying … Continue reading Anti-Netflix plan: Vivendi – Mediaset Premium
On December 18th Enel announced an agreement with EPH for the sale of its 66% stake in the Slovak subsidiary Slovenské Elektrárne. Discussions are still ongoing about the possible purchase of a 17% stake by the Slovak Government to maintain the control of the company, the first electricity producer and distributor in Slovakia. Companies overview … Continue reading From Bratislava with Love: Slovak nuclear on sale
Activision Blizzard – King Digital Activision Blizzard Inc. will buy the British developer King Digital Entertainment for a nice $5.9bn settled entirely by cash. The rationale of the deal seems to be twofold: operating and financing based. The combined company is expected to be among the most important tech giants worldwide in terms of active users, with more … Continue reading Activision Blizzard takeover of King Digital Entertainment
A new Pharma Mega-Deal making Botox and Viagra join forces. On November 23, 2015, Pfizer announced its $160bn tie-up with Allergan to form the world’s biggest pharmaceutical company by sales. Industry Overview Even though recent M&A activity has started to slow down in the healthcare sector, the announced merger shows that the M&A frenzy is … Continue reading Pfizer – Allergan
The year 2015 has been marked by the acceleration of M&A activity in the financial sector, due to several distinct trends. Due to increased regulations, institutions must find new ways to not only adapt to the new expectations of regulators, but also to be proactive in finding sustainable business models. Higher capital requirements have put … Continue reading Financials on the rocks – FIG Market Update
“I’ve admired PCC’s operation for a long time. For good reasons, it is the supplier of choice for the world’s aerospace industry, one of the largest sources of American exports. Berkshire’s Board of Directors is proud that PCC will be joining Berkshire.” These words said in August by Warren E. Buffett, Berkshire Hathaway chief executive … Continue reading No company is too big for Warren
Industry Overview Relevant signals of growth and recovery are shown in the segments of building materials sector which represent Italcementi and Heidelberg core businesses. Furthermore, continued tailwinds will bring benefits regarding revenue and cash flows in the last part of the year. The sharp fall in oil price and the weakness of Euro will have … Continue reading BOILING SUMMER IN THE BUILDING-MATERIALS INDUSTRY
In February 2015, Pfizer announced that it wants to acquire its smaller rival Hospira to make Pfizer the leading producer in the biosimilars sector, a high-growth niche sector focusing on lower cost biotech pharmaceuticals. Industry Overview The chart below shows that pharmaceutical stocks significantly outperformed general markets up until Q3 2015. The healthcare M&A market … Continue reading Pfizer’s acquisition of Hospira, the M&A wave in the healthcare sector still far from settling down
Bocconi Students M&A Circle 
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