National Grid’s £14.4bn acquisition of WPD

National Grid PLC announced the acquisition of Western Power Distribution from PPL Corporation on 21 March 2021. The acquisition was announced as a complete cash transaction and was part of National Grid’s long-term clean energy transition path. The transaction was finalised on 14 June 2021, with National Grid acquiring WPD for £14,400 million. Investment ConsiderationsContinue reading “National Grid’s £14.4bn acquisition of WPD”

The Economic Benefits and Risks of Derivatives

Derivatives have often been criticized and labeled as a dangerous product even though they were mainly created for risk management purposes. In this article, I will try to answer the simple question if derivatives are beneficial for the economy as a whole, by introducing the financial product, evaluating the benefits and potential risks, and focusingContinue reading “The Economic Benefits and Risks of Derivatives”

Quo vadis climate change? – A brief look at the main takeaways from the 26th Conference of the Parties in Glasgow

What is a COP? In 1990, the first Intergovernmental Panel on Climate Change’s (IPCC) assessment report was released. It highlighted that global warming is due to rising CO2 emissions and called for a global treaty on climate change. After two years of discussions, this treaty, called the United Nations Framework Convention on Climate Change (UNFCCC), wasContinue reading “Quo vadis climate change? – A brief look at the main takeaways from the 26th Conference of the Parties in Glasgow”

What’s behind the biggest LBO ever attempted in Europe?

The American fund KKR is going after Telecom Italia, ready to bet more than €33 bn on the largest leveraged buyout ever attempted in Europe. But KKR isn’t the only fund interested in European telecom as there might be more to this than meets the eye. On the 22nd of November 2021, the American fundContinue reading “What’s behind the biggest LBO ever attempted in Europe?”

What are SPACs? Analysing the TMTG and DWAC merger

Throughout 2020 and 2021 Special Purpose Acquisition Companies (SPACs) have surged in popularity and have stormed financial markets and global news. In 2020 alone, more than $83bn has been raised with companies going public through SPACs and in 2021, 553 SPAC IPOs have been carried out. But what is the reason behind this incredible surgeContinue reading “What are SPACs? Analysing the TMTG and DWAC merger”

Auchan’s $19bn acquisition of Carrefour

During spring 2021 Auchan had made a c. EUR 21.5 per share bid for Carrefour. This follows prior reporting that Carrefour has been negotiating with Auchan for potential business combinations, although talks seem to have cooled off. Per subsequent reporting, there were several possible stumbling blocks, including regulation and differences over the pro-forma ownership. InvestmentContinue reading “Auchan’s $19bn acquisition of Carrefour”

Private Equity Deal Volume Rising Following a Tumultuous Year

With the 2020 financial year nearly out of sight, savvy readers will have noticed that private equity dry powder has grown tremendously. The related question that inevitably comes to mind is when will these funds be allocated to new deals, and what will the overall deal volume look like in 2021. The past year hasContinue reading “Private Equity Deal Volume Rising Following a Tumultuous Year”