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- First Step to Final Offer 5/13/25
First Step to Final Offer 5/13/25
Brooks Gammill
May 13, 2025
Your weekly round-up of an M&A deal walkthrough, insightful market news summaries, technical quiz questions, and various internships, events, and diversity programs. A key resource to best prepare yourself for finance recruiting. If someone sent you the newsletter subscribe below!
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TECHNICAL QUESTION OF THE WEEK:
MARKET NEWS
JPMorgan Tech Banker Madhu Namburi to Join General Catalyst
Madhu Namburi, a veteran technology banker at JPMorgan Chase & Co. with a 25-year tenure, is set to leave the firm in August. He will join venture capital firm General Catalyst as a managing director, co-managing its Creation Fund, which focuses on merging and establishing technology firms. General Catalyst, currently managing $36 billion in assets, recently raised an additional $8 billion in capital.
Source: Bloomberg
Evercore Hires Citi's Top European Dealmaker Luigi de Vecchi to Lead Milan Expansion
Evercore has appointed Luigi de Vecchi, formerly Citi’s Chair of Investment Banking for EMEA, to spearhead its expansion into continental Europe. Starting in July, de Vecchi will serve as Chair of Evercore’s continental European operations and establish a new office in Milan, while maintaining a base in Paris. This strategic move follows Evercore’s 2023 Paris office launch, staffed by former Credit Suisse bankers, and underscores the firm’s commitment to enhancing its European presence. De Vecchi brings extensive experience, having played pivotal roles in landmark deals such as the €50 billion Essilor-Luxottica merger and LVMH’s $16 billion acquisition of Tiffany. His departure from Citi aligns with the bank's broader restructuring efforts under new global banking chief Vis Raghavan.
Source: PE Insights
M&A DEAL OVERVIEW
Bain Capital to Acquire Nissin Logistics for $756 Million
Bain Capital has announced plans to acquire Nissin Logistics in a deal valued at $756 million. The tender offer period is scheduled from May 13 to July 8. Following the announcement, Nissin’s shares surged 19%, reaching the daily limit-up price of ¥6,350. This move underscores Bain Capital’s continued interest in the logistics sector and its strategy of investing in companies with strong growth potential. The acquisition is expected to provide Nissin with greater flexibility to expand its global footprint and enhance its service offerings.
Source: Bloomberg
LAST WEEK TECHNICAL QUESTION OF THE WEEK ANSWER:
Correct Answer: A, Current Enterprise Value is what the market thinks a business is worth to all investors; Implied Enterprise Value is what you think a business is worth to all investors. — What’s the difference between Current Enterprise Value and Implied Enterprise Value?
Explanation: Current Enterprise Value represents the value the market currently assigns to the entire business (including equity and debt), based on its market capitalization and existing financial structure. Implied Enterprise Value, however, reflects your own estimate of the business’s worth, derived through valuation methods like discounted cash flow analysis or comparable company multiples. The key difference is that Current Enterprise Value is market-driven, whereas Implied Enterprise Value is your personal assessment of the company's intrinsic value.