In case you missed it, read last week’s issue here
🗞️This Week in Finance - June 30th 2025
Global M&A Rebounds with Mega-Deal Momentum
Global M&A deal volume surged 26% to $2.14 trillion in H1 2025, fueled by a few $10B+ megadeals, including CLO-backed acquisitions in Asia and North America. This increase shows that top-tier bankers are back in action, signing large-scale deals despite earlier market jitters. As big transactions return, investment banking roles and live deal opportunities are heating back up.
Why it matters: Large transactions typically mean more complex models, cross-border coordination, and higher fee pools.
Student takeaway: See which industry sectors are leading the surge—tech, infrastructure, and energy deals are prominent.
Tip: Learn to talk through a mega-deal: focus on financing, structure, and what makes it strategic for both buyer and seller.
Citigroup Expands IB Leadership in Japan
Citigroup announced that Akira Kiyota (ex-Nomura) and Taiji Nagasaka will co-lead its Japan investment banking division beginning October 1—boosting regional deal coverage. The move underscores Citi's strategy to strengthen its foothold in Asia as private equity and corporate M&A activity ramp up. Asian markets are increasingly valuable to global banks looking for growth outside traditional Western centers.Z
Student Takeaway: The lines between strategy, technology, and ESG compliance are blurring. “Generalist” consultants are being trained to speak AI, risk, and regulation. In case interviews, expect prompts related to AI cost-benefit analysis, carbon credit markets, or digital transformation metrics.
Why it Matters: Regional IB growth reflects where deal pipelines and talent pools are expanding—especially in Asia's booming middle-market. Even if you're U.S.-based, knowing global IB trends enhances your credibility with cross-border teams.
🏦 Term of The Week: Capital Expenditures (CapEx)
Definition: CapEx refers to funds used by a company to acquire, upgrade, or maintain physical assets such as buildings, equipment, or technology. Unlike operating expenses, CapEx is capitalized on the balance sheet and depreciated over time.
Example:Amazon invested over $50 billion in capital expenditures, largely to expand its cloud infrastructure (AWS data centers) and logistics operations (warehouses, robotics, delivery hubs). These long-term physical assets are recorded on the balance sheet and depreciated over time — unlike operating expenses, which hit the income statement immediately.
Why CapEx Matters: CapEx spending reflects a company’s commitment to long-term growth and scalability.
Student Takeaway: Look at CapEx trends in a company’s 10-K — increasing CapEx can signal expansion, while cuts may hint at strategic pullbacks. Reminder, when modeling free cash flow in a DCF, CapEx must be subtracted from cash generated by operations.
🚀 Finance Career Tip: Know What You Want, Say it Clearly
When asked about your career goals, saying “I’m open to anything” can sound directionless, bland, and boring. It’s okay to be flexible, but show intentionality:
“I’m interested in corporate finance or transaction services, ideally at the intersection of accounting and strategy.”
An answer like this shows that you know exactly where you want to go with your career. Of course, everyone is at a different stage in life but the sooner you find out what you want to do, the sooner you can start tailoring your life and experiences towards that.
Clarity + enthusiasm > generic flexibility.
Bonus: If you’re an underclassmen in college, don’t be afraid to switch your major once or twice. Studies show that 75%-80% of students change their major at least once.
💬 Deal Breakdown: Centerview Advises on Paramount & Skydance Merger
Paramount Global agreed to merge with Skydance Media in a $28 billion deal back in July of 2024, with Centerview Partners advising Paramount. The complex transaction includes debt refinancing, equity infusion, and a two-phase acquisition structure. The goal: revamp Paramount’s media strategy in the age of streaming and AI-driven content production.
Why it matters: It’s one of the biggest media M&A transactions last year — and Centerview’s role shows the value of independent advisory in large, high-stakes deals. This is a textbook example of strategic M&A in a challenged industry Cases like these are worth studying and researching.
📚What to Read or Watch
🤝 Final Word
The most successful students in recruiting aren’t always the smartest — they’re the ones who stay consistent. Every time you read a deal, follow a market update, or reflect on a past experience, you sharpen your instincts. Over time, that effort compounds.
Keep going. Let it stack.
Welcome to Campus Capital. Each week, we’ll break down the finance world in 5 minutes or less.
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About Me
My name is Braunsen Bax, I’m a honors finance and accounting student-athlete at North Central College in Naperville, Illinois (45 mins outside of Chicago). I graduated from Walton High School in Marietta Georgia. Outside of the classroom I compete in the throws events for the Track & Field team, 35 time NCAA DIII national champions. I’ve had a love of finance and the business world since my sophomore year of high school and started Campus Capital to share that love with my community and like minded individuals in a similar position, with similar goals. My mission is to help people like me shape their futures to ensure they reach their goals while being up to date and educated in the Finance industry.
