Starcast Join the waitlist
Market Maker

Market Maker

How Investment Banks Execute M&A Deals | Step by Step

Oct 11, 2026 · 52m

Coming soon to iPhone. Already have it? “Listen in Starcast” takes you straight there.

On this episode

About this episode

How does a billion-dollar M&A deal actually happen? From winning the mandate to negotiating the final sale, what really goes on behind the scenes at investment banks like Goldman Sachs, Morgan Stanley and J.P. Morgan? In this episode, Anthony Cheung and Stephen Barnett break down the entire mergers and acquisitions (M&A) process, drawing on Stephen's experience in investment banking to explain how deals are pitched, structured, negotiated and ultimately completed. We explore how investment banks compete for lucrative advisory mandates, the difference between buy-side and sell-side transactions, and how companies are valued and marketed to potential buyers. Along the way, we unpack the…