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Real Transactions, Taken Apart

Deal Breakdowns

The encyclopedia teaches the moving parts. These take a real deal off the shelf and show the parts working together.

Each breakdown walks one landmark transaction the way you would actually meet it on a deal team: the story and the strategic logic, the structure chosen and why, the document set, the step-by-step mechanics from announcement to close, and the handful of choices worth noticing. Every technical term links back to its encyclopedia entry, and every figure is drawn from the public record, cited at the foot of each page.

Capital Markets · IPO

The SpaceX IPO

Space Exploration Technologies Corp. (Nasdaq: SPCX) · June 2026

The largest initial public offering in history: a $75 billion raise at a $1.77 trillion valuation, sold under a dual-class structure that left its founder in control and a national-security regime that shaped who could own it.

$75B raised$135 / share+19% day one
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M&A · Public Acquisition

Boeing buys KLX

The Boeing Company (NYSE: BA) acquires KLX Inc. · 2018

A clean separate-and-sell: KLX spun its energy business out to shareholders, then sold the aerospace half to Boeing for $63 a share in cash. A one-step merger built on top of a tax-free spin-off.

$4.25B enterprise value$63 / share cash15.7x EBITDA
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New breakdowns are added over time, alternating between capital-markets offerings and M&A. The aim is not deal news but deal literacy: read enough of these beside the encyclopedia and the documents stop looking like a wall of defined terms and start looking like a machine with moving parts.