Analysis of recent M&A transactions
Introduction: On the 17th of June, 2021 JPMorgan announced the acquisition of the robot-assisted investment management company Nutmeg for approximately $970 million. Since November 2020, JPMorgan and Nutmeg have been in a partnership releasing a range of ETFs under the name of “Smart Alpha”. The previous partnership and acquisition of Nutmeg will allow JPMorgan to form … Continue reading JP Morgan acquires UK Robo-advisor Nutmeg
Introduction: Perella Weinberg Partners (“PWP”), a New York-based boutique investment bank focused on M&A, agreed to go public through a merger with a Special Purpose Acquisition Company (SPAC) on Wednesday 30th December 2020. Backed by banking entrepreneur Betsy Cohen, FinTech Acquisition Corporation IV will acquire Perella Weinberg in a deal that has an implied equity … Continue reading Perella Weinberg Partners to go public via merger with Betsy Cohen’s SPAC
Introduction: On the 8th of October 2020 Morgan Stanley announced the acquisition of the investment management firm Eaton Vance for approximately $7 billion. This deal marks the second bout of expansion for the investment bank’s strategic strengthening within Institutional Securities, Wealth Management and Investment Management after it acquired E*Trade in October 2020. Amongst other reasons, Morgan Stanley’s main purpose is to take advantage of more structured fee-based revenue streams. Companies’ Overview: Morgan Stanley Founded in 1935, … Continue reading Morgan Stanley’s consolidation within the Asset Management industry: the acquisition of Eaton Vance Corp
Introduction: BBVA has reached an agreement for the sale to PNC Financial Services Group of 100% of the capital stock of its subsidiary BBVA USA Bancshares. The transaction is considered the largest US banking acquisition since the 2008 financial crisis and will allow PNC to become America’s largest regional bank. The deal (approved by both … Continue reading PNC – America’s largest regional bank after the acquisition of BBVA U.S.
Introduction Euronext pulled off a €4,325 billion offer to the London Stock Exchange for the acquisition of Borsa Italiana group, which will count for an important proportion (34%) of the new group’s total revenues. The offer made with the strong support from Cassa Depositi e Prestiti through CDP Equity and Intesa Sanpaolo beat the competition … Continue reading The deal that sets the foundation for a pan-European market
Introduction Intesa Sanpaolo SpA pulled off one of the biggest banking merger in Europe after the great financial crisis. The Intesa Sanpaolo’s takeover of UBI Banca has totally reshaped the Italian market, possibly giving life to a long-term consolidation of the country’s fragmented financial industry. Intesa Sanpaolo-UBI is an all stock deal; more than 90% … Continue reading Intesa finds agreement to acquire UBI to create the largest Italian Banking Group
Introduction Wall Street Investment bank Morgan Stanley announced, on Feb 20th2020, the acquisition of E*TRADE for $13 billion – the biggest acquisition of a U.S. bank since the tough financial crisis of 2008. Certainly, Morgan Stanley will incredibly enhance client experience, but most importantly the company will have access to E*TRADE’s $56 billion in cash … Continue reading Morgan Stanley, the expansion in the trading market: E*TRADE acquisition
On February 19th, 2019 the Chinese internet giant Alibaba raised its stake in CICC, one of China’s leading investment banking firms, to nearly 5% for $231mn. This is the latest of a series of events which highlight the interest of Chinese tech giants in the fintech sector as a possible new market to drive growth. … Continue reading Alibaba builds up its presence in the banking sector
On February 11th, 2019 Morgan Stanley acquired Solium Capital, a large equity plan administrator, for $900m, a 40% premium over the recent trading price. This is the biggest acquisition in a decade for the Wall Street giant and likely the first of many more deals to enlarge its wealth management business in the next decade. … Continue reading Morgan Stanley steps up its game for the Wealth Management war
Bocconi Students M&A Circle 
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