Analysis of recent M&A transactions
Introduction In 2021, a market like no other, Cimarex Energy and Cabot Oil & Gas Corp decided to merge into a $17 billion company. Despite the expected downsides, the advisors convinced the managements to proceed with the all-stock merger of equals because the stability given by the balance of oil and gas would outweigh any … Continue reading Cimarex Energy and Cabot Oil & Gas Corp $17 billion merger
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
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
Introduction On the 14th of August, Faurecia, a French-based automotive equipment supplier launched a tender for the acquisition of Hella, a German supplier specialized in the production of lighting and electronics automotive products in a €6.8bn deal. This combination is aimed at creating the 7th largest automotive supplier, well-positioned for new challenges such as electric … Continue reading Faurecia Acquires Hella in a €6.8 deal to form the world’s seventh-largest automotive supplier
Introduction: On the 21st of March 2020, Canadian Pacific Railway Limited (CP), a Canadian railway company, and Kansas City Southern (KCS), a US railway firm, announced an agreement through which CP will acquire KCS for $29 billion. Through this deal, CP values KCS at $275 per share, representing a 23% increase with respect to KCS … Continue reading CP acquires KCS: the first railway network from Canada to Mexico
On July 30, 2020 Michael Klein completed the initial public offering of Churchill Capital Corp. IV. On February 22, 2021 the merger agreement with Lucid Motors was announced with the aim to create an electric vehicle manufacturer able to compete against Tesla. Companies' Overview: Lucid Motors Based in Newark, California, Lucid Motors (“Lucid”) is an Electric … Continue reading A transaction helping Lucid to become Tesla’s most powerful rival?
Introduction: The $90bn merger between United Technologies Corp. and Raytheon Co. constitutes the largest ever merger in the Aerospace and Defense sector, resulting in a creation of among the largest company of its industry. The merger has resulted in a very diversified group, operating in both the commercial aerospace and the Defense industry. Due to the diversification, the deal was heavily criticized. On the other hand, the combined group will use the core competencies of Raytheon and United Technologies to develop new solutions consistent with the most recent technology trends in the sector. Companies … Continue reading A milestone transaction to define the future of Aerospace and Defense
On October 31st, French automotive vehicle manufacturer PSA has announced its merger of equals with the Italian-American FCA group in an all-stock transaction. The deal will create world’s 4th largest automotive manufacturer and significant synergies for both groups. Companies' Overview PSA Founded in 1976, PSA Group is a French automotive company that is the result … Continue reading PSA and FCA join forces to become the largest automaker in Europe
COMPANIES OVERVIEW Saudi Aramco Saudi Arabia’s Aramco ranks as a global magnate in the oil industry. In 2018, the energy giant listed as the world’s most profitable company, recording a net income of $111.1bn, running far ahead of other oil companies such as Royal Dutch Shell ($23.9bn) and Exxon Mobil ($20.8bn). The company was founded … Continue reading The giant goes shopping: Saudi Aramco’s $69.1bn acquisition of SABIC
Bocconi Students M&A Circle 
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