Investment Banking Deal Case Studies

Take-PrivateTechnology2022Closed

Elon Musk's $44 Billion Twitter Deal He Couldn't Escape

How Elon Musk bid $54.20 a share for Twitter, tried to walk away, was nearly forced to a Delaware trial, and was made to close at the original $44B price.

~$44B

LBO·Consumer / Tobacco·1988-1989Closed

KKR's $31 Billion RJR Nabisco Buyout That Nobody Won

How KKR won the $31 billion RJR Nabisco buyout in the 1980s biggest takeover battle, why the board took the lower bid, and why almost no one made money.

~$31B

LBOConsumer / Tobacco1988-1989Closed

KKR's $31 Billion RJR Nabisco Buyout That Nobody Won

How KKR won the $31 billion RJR Nabisco buyout in the 1980s biggest takeover battle, why the board took the lower bid, and why almost no one made money.

~$31B

M&A·Healthcare / Pharma·2015-2016Terminated

Pfizer's $160 Billion Allergan Inversion the Treasury Killed

How Pfizer structured a $160 billion reverse-merger inversion with Allergan, why the US Treasury wrote a rule that destroyed it in five months, and who was right.

~$160B

M&AHealthcare / Pharma2015-2016Terminated

Pfizer's $160 Billion Allergan Inversion the Treasury Killed

How Pfizer structured a $160 billion reverse-merger inversion with Allergan, why the US Treasury wrote a rule that destroyed it in five months, and who was right.

~$160B

IPO·Technology / Internet·2012Completed

Facebook's $16 Billion IPO That Everyone Called a Flop

How Facebook priced its $16 billion 2012 IPO at the top, opened on a broken Nasdaq, was defended at $38 by its bankers, halved, and was vindicated anyway.

~$16B

Raised

IPOTechnology / Internet2012Completed

Facebook's $16 Billion IPO That Everyone Called a Flop

How Facebook priced its $16 billion 2012 IPO at the top, opened on a broken Nasdaq, was defended at $38 by its bankers, halved, and was vindicated anyway.

~$16B

Raised

M&A·Media & Entertainment·2017-2019Closed

Disney's $71 Billion Fox Deal and the Comcast Fight

How Disney beat Comcast in a $71.3B bidding war for 21st Century Fox: the deal structure, advisors, regulatory fight, and the streaming logic behind it.

$71.3B

Published May 16, 2026

M&AMedia & Entertainment2017-2019Closed

Disney's $71 Billion Fox Deal and the Comcast Fight

How Disney beat Comcast in a $71.3B bidding war for 21st Century Fox: the deal structure, advisors, regulatory fight, and the streaming logic behind it.

$71.3B