Mergers and Acquisitions

Chain Bridge Research provides independent research on mergers and acquisitions across global markets. Three distinct services are published covering M&A in the Americas, Europe and Asia-Pacific regions.

All announced deals for which the market capitalization of the target is greater than $500 million are covered in detail, except in exceptional cases where liquidity is too thin to justify coverage. This includes coverage of all announced transactions as well as potential follow-on bids. Certain deals below this $500 million threshold may also be covered if liquidity is sufficient. Comprehensive reports examining pre-announced situations will also be published.

The analysis of each deal includes: 

• Terms of the offer
• Conditions attached to the offer
• Offer timetable
• Risk analysis
• Competition regulation
• Takeover regulation
• Potential competition, regulatory issues
• Political risk
• Rationale for the deal
• Valuation of the target
• Value of the target to the bidder

CB Research analysts are fluent in a range of languages, and have developed expertise in regulation, competition and takeover regulation across global markets. Our internal expertise is supplemented by contact with lawyers and regulators in the individual markets.

On individual deals, our analysis will provide:

• An initial report typically published the day of announcement, providing a detailed description of the deal (as described above)
• Follow up reports that actively monitor ongoing deals and provide clients with updates to our initial view.
• Additional expertise through contact with lawyers and regulators in the individual markets.

In addition, the analyst team produces regular updates on the progress of deals

• Daily Notes are published every morning, and provide headlines of developments in existing deals and new situations.
• Best Ideas, Discounts, Estimated Returns & Calendar is a bi-weekly publication that provides a timetable of historic and forward looking dates, current discounts, estimated settlement dates and estimated annualized returns for each of the deals under coverage.  This also includes our highest conviction trading ideas.

Clients have access to:

• A secure website containing a searchable and downloadable archive of CB Research reports.
• Unlimited contact with the analyst team.  Clients have personal telephone contact with the CB Research team. This is an enormous value-added aspect of the service. Analysts spend significant time discussing pertinent aspects of deals currently under coverage with the client base.
• If requested, the team will also examine transactions below its minimum market capitalization criterion.