The Skydance Debt Test: $110 Billion Warner Deal Meets $80 Billion of Debt
The Skydance debt test pits about $80 billion of debt against ambitious synergy, content, cash flow and leverage targets.
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Corporate mergers, acquisitions and takeover analysis.
Uber’s $2.3 Billion ezCater Deal Turns Corporate Lunch Into a Margin Test
Uber’s $2.3 billion all-cash ezCater purchase tests whether high-value corporate catering can improve delivery economics without overstretching capital allocation.
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AkzoNobel’s $1.35 Billion Paint Sale Turns 21× EBITDA Into a Two-Sided Test
AkzoNobel sells its Southeast Asian decorative-paints portfolio to Nippon Paint at 21× historical EBITDA. The same price tests focus for the seller and regional…
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BPCE’s 7% Sabadell Stake Turns Europe’s Banking Union Into an Operating Test
BPCE’s 7% Banco Sabadell stake tests whether Europe can build cross-border banking value through cooperation before ownership and control.
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Schneider’s $22.6 Billion PTC Deal Makes Industrial Software a Capital-Discipline Test
Schneider’s $22.6 billion PTC acquisition can create an industrial software and AI platform, but its premium, financing and €800 million revenue-synergy target make returns…
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The M&A Boom Is Hitting a Cost of Capital Wall
Global M&A reached $3.9 trillion through September, yet third-quarter value fell 41% as higher yields exposed which deals can survive expensive capital.
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Nuveen Schroders Deal Turns $2.6 Trillion Scale Into an Integration Test
The Nuveen Schroders deal creates a $2.6 trillion asset manager. Its value now depends on client retention, distribution productivity and disciplined integration.
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Kone TK Elevator Divestiture Turns a €29.4 Billion Deal Into a Density Test
Kone may sell most of TK Elevator’s European business to secure regulatory clearance. The remedy now tests whether €700 million of synergies can survive…
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Brink’s $6.6 Billion NCR Atleos Deal Turns Cash Decline Into a Scale Test
Brink’s $6.6 billion NCR Atleos acquisition tests whether ATM network density, regulatory remedies and rapid deleveraging can turn cash decline into durable value.
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Hormel’s $1.06 Billion Brakebush Deal Turns Chicken Into a Margin Test
Hormel is buying Brakebush for about $1.06 billion. The deal adds foodservice scale, but margins, integration and cash conversion will decide the return.
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