EBITDA vs. Adjusted EBITDA
For a long time, before we created Antitrust Intelligence, these two terms…
Intesa Doesn’t Want Monte dei Paschi’s Bank. It Wants Mediobanca and Generali.
In January 2025, Monte dei Paschi was the predator. Eighteen months later…
Follow the Money: Chinese Subsidies and the Future of MediaMarkt
On 28 May 2026, the European Commission opened a full-scale investigation into…
KONE-TKE €29 Billion Deal: Financial and Legal Analysis
KONE and TKE agreed on a €29.4 billion merger. The deal was…
What the Lufthansa State Aid Case Teaches Lawyers About Finance
Germany bailed out Lufthansa with €6 billion during COVID. Ryanair and Condor…
The EC’s New Merger Guidelines Put the Business Model at the Centre.
The European Commission is rewriting its merger guidelines for the first time…
The Netherlands Joins the Vet Crackdown. Private Equity Should Take Note.
The Dutch competition authority, ACM, has published its final report on veterinary…
Getty’s Own 10K Reveals It Cannot Survive Without Shutterstock and That Ties CMA’s Hands
On March 31, 2026, two weeks after Getty Images filed its annual…
The Rise of Private Capital in Europe: Part Three
The "Deal Engine" Mindset and the Language of IRR In the first…
The Rise of Private Capital in Europe: Part Two
Exit Backlogs, the "Triple Threat," and Strategic Litigatio In the previous lesson,…
How A Market Study Impacts a Company Stock Price
We often read in press releases announcing antitrust investigations or market studies…
When Is Profit ‘Excessive’? Understanding the CAT’s Analysis in the Apple Case
On 23 October 2025, the UK Competition Appeal Tribunal (CAT) held that…
