Analysis of recent M&A transactions
INTRODUCTION On 23rd March 2023, Toshiba Group’s board of directors approved a JPY2tn ($15.1bn) cash offer from a consortium led by Japan Industrial Partners Inc (JIP) to delist the company from the market. If successful, the operation would represent the largest take-private deal in Japan. After a long period of speculations, Toshiba seems close to … Continue reading TOSHIBA APPROVES BUYOUT OFFER FROM JIP INC
Orange and MásMóvil, two leading telecom groups in the Spanish markeT Orange is a telecom group with over 120 years of history. It is the 8th largest global telecoms brand with over 5000 stores globally and an extensive network in Europe, the Middle East, and Africa, with a significant presence in France, Belgium, Spain, and … Continue reading Orange and MásMóvil $19 Billion Merger
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
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
On January 19, 2022, Microsoft Corp. announced plans to acquire Activision Blizzard Inc, a leader in game development and interactive entertainment content publisher. The acquisition will accelerate the growth in Microsoft’s gaming business across mobile, PC, console, and cloud and will provide building blocks for the metaverse. Companies Overview Microsoft Microsoft Corporation is a technology … Continue reading Microsoft acquisition of Activision Blizzard
Introduction On May 17th 2021, AT&A announced a $48 billion deal to merge Discovery and WarnerMedia, uniting the companies under the name Warner Bros. Discovery. The merger should provide substantial synergies and an improved leadership team that will strengthen the streaming and content creation verticals, enabling the company to compete with companies such as Netflix … Continue reading Discovery merges with WarnerMedia
SGFER – BSMAC Deal Overview Potential Target: Toshiba Industry: Energy Systems & Consumer Electronics Estimated EV: $17.864B Toshiba share price: $34.85 (as of 6.4.2021) Back in April 2021, the international private equity firm CVC Capital Partners announced their offer of 5,000 yen per share, an accumulated $20.8B, for the acquisition of Toshiba. The buyout firm's proposal included a 31% premium on Toshiba's share … Continue reading The potential deal of the century – is Toshiba an attractive LBO target?
Rogers Communication Edward S. Rogers is the inventor of world’s first alternating current heater filament for a radio tube. Unfortunately, he died when he was working on an experiment at the age of just 38. His son, Ted, at the time was only 5 years old. In 1960, when he was still a student, Ted … Continue reading Rogers Communication to strengthen 5G position through Shaw Communication acquisition
Introduction In December 2020, Salesforce announced it would be acquiring the workplace chat app Slack for $27.7 billion. Companies Overview Salesforce.com, Inc (NYSE: CRM) Founded in 1999, Salesforce is an American cloud-based solutions provider headquartered in San Francisco, California. Salesforces offers a Customer Relationship Management (CRM) solution that provides insight into customer habits based on … Continue reading Salesforce acquires Slack for $27.7 billion
Bocconi Students M&A Circle 
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