By Aron Adamski, BSc Economics @LSE DEAL OVERVIEW: Announcement date: 12/11/2020 Industry: Telecommunication Implied EV/Year 1 EBITDA: 15.6x Deal consideration: Cash-and-stock mix Acquirer advisors: PwC, AZ Capital, HSBC Target advisors: Moelis & Company, Deutsche Bank, Morgan Stanley Cellnex Telecom, an acquisitive Spanish telecoms infrastructure company, agreed to acquire large portfolio…

By Aron Adamski, BSc Economics @LSE OVERVIEW OF THE DEAL: Announcement date: 21/09/2020 Industry: Telecommunication Implied EV/LTM EBITDA: 7.12x Deal consideration: All-cash Acquirer advisors: Société Generale, Lazard, Deloitte (transaction structuring, P/L & BS analysis) Target advisors: J.P. Morgan French telecom group Iliad acquired 59.8% stake in mobile provider, Play Communications…

By Aron Adamski, BSc Economics @LSE OVERVIEW OF THE DEAL: Announcement date: 11/01/2021 Industry: Biotechnology Deal value: $1.45bn Deal consideration: All-cash Acquirer advisors: n/a Target advisors: J.P. Morgan French drugmaker Sanofi entered into an agreement to acquire 8.7% stake (8.9mn shares) in UK biotech group, Kymab, for $1.4bn from Hepalink. …

By Aron Adamski, BSc Economics @LSE OVERVIEW OF THE DEAL: Announcement date: 04/01/2021 Industry: Biotechnology Deal value: $960mn Deal consideration: All-cash Acquirer advisors: KPMG (due diligence, tax and accounting) Target advisors: Centerview Partners Italian pharmaceutical company, Angelini Pharma, signed definitive agreement to acquire emerging Swiss biotech company Arvelle Therapeutics from…

By Aron Adamski, BSc Economics @LSE OVERVIEW OF THE DEAL: Announcement date: 12/12/2020 Industry: Biotechnology Implied EV/LTM EBITDA: 12.6x Deal consideration: Cash-and-stock mix Acquirer advisors: Evercore, Centerview Partners Target advisors: Bank of America Drugmaker, AstraZeneca, entered into a definitive agreement to acquire US biotechnology group Alexion Pharmaceuticals for $39bn, making…

By Aron Adamski, BSc Economics @LSE OVERVIEW OF THE DEAL: Announcement date: 30/11/2020 Industry: Financial Media and Data Solutions Implied EV/LTM EBITDA: 30.83x Deal consideration: All-share Acquirer advisors: Goldman Sachs, Citigroup, Credit Suisse Target advisors: Morgan Stanley, Barclays, Jefferies, J.P. Morgan New York-based S&P Global has agreed to acquire London-based…

By Aron Adamski, BSc Economics @LSE OVERVIEW OF THE DEAL: Announcement date: 01/12/2020 Industry: Internet Software and Services Implied EV/LTM Revenue: 36.12x Financing: Cash-and-stock Acquirer advisors: BofA Securities Target advisors: Qatalyst Partners, Goldman Sachs Salesforce.com entered into an agreement to acquire Slack Technologies for $27.7bn. Under the terms of the…

By Aron Adamski, BSc Economics @LSE OVERVIEW OF THE DEAL: Announcement date: 16/11/2020 Industry: Banking Deal Value/Tangible Common Equity: 1.3x Financing: All-cash Acquirer advisors: Citigroup, Evercore, PNC FIG Advisory Target advisors: J.P. Morgan PNC Financial Services Group has agreed to acquire BBVA’s US operations from Spain-based Banco Bilbao (BBVA). The…

By Aron Adamski, BSc Economics @LSE OVERVIEW OF THE DEAL: Announcement date: 01/06/2020 Industry: Telecommunication services Implied EV/NTM EBITDA: 13.11x Financing: €2bn loan Acquirer advisors: Barclays Capital, Morgan Stanley Target advisors: Goldman Sachs, BofA Securities, BNP Paribas Securities, J.P. Morgan Securities In June a trio of private equity funds announced…