All about mergers, acquisitions, and divestitures. Key topics include the strategy, financial implications, and execution of M&A.
Bombardier's CSeries aimed to challenge Boeing and Airbus. Costs exploded from $2B to $8B. A steep discount to Delta triggered Boeing's 300% tariff. In 2018, Bombardier sold the program to Airbus for $1, ending their commercial aviation dreams and retreating to business jets alone.
When Ferrero Rocher paid $3.1B for W.K. Kellogg, investors made out—but was it a good buy? We explore Kellogg's history, its split into Kellanova and W.K. Kellogg, and who bought them. One deal makes sense. The other is jamming chocolate into breakfast aisles for no clear reason.
Sycamore Capital's private buyout of Walgreens shows how strategic missteps brought Walgreens low.
Hermès and LVMH are both luxury powerhouses with deep French roots going back to the 19th century. They have grown over the last 20 years, setting trends and influencing the industry’s direction. In this newsletter, I’ll explain what makes the difference.
