Goldman Sachs Investment Banking

Industries and economies are racing to keep up with breakneck change, and it's critical for CFOs to be equipped with the latest playbook for informed decision-making. This month, we were honored to bring together nearly 200 attendees across industries for our annual CFO Conference in Dallas, featuring George W. Bush, 43rd President of the United States, and Cynt Marshall (President & CEO of Marshalling Resources and Former Dallas Mavericks CEO), and more. Thank you to all of our attendees and speakers for another year of insightful conversations. We are grateful and honored for the extraordinary partnership we have amongst the CFO community.

On November 19, Chronosphere announced its $3.35B sale to Palo Alto Networks.   We are honored to have served as exclusive financial advisor to Chronosphere.

2025 has been a pivotal year for M&A. Paired with compelling strategic tailwinds, the current dealmaking environment is providing favorable conditions for executives to be more open to larger-scale transactions, says Stephan Feldgoise, head of global M&A. Read the article from the Financial Times: https://lnkd.in/ePZPzhyh

On November 14, Cidara Therapeutics announced its sale to Merck for approximately $9.2B. We are honored to have served as financial advisor to Cidara Therapeutics.

Anna Skoglund, co-head of Investment Banking in EMEA and head of the Financial and Strategic Investors Group in EMEA, joined Bloomberg last week to discuss M&A momentum—with volumes up 40% and expected to continue—highlighting secondaries and continuation vehicles as bright spots, plus a proliferation of broad-based dealmaking across regions and sectors as leaders adapt to uncertainty. What is she looking forward to most? In a word: 2026.🚀 Watch the interview: https://lnkd.in/e6av7w4Q

Since 2014, one in four US SpinCos with a $1B+ market capitalization have faced public activism campaigns within three years of going public. From new management teams to nascent capital allocation frameworks, SpinCos sometimes carry several characteristics that can be attractive to activists. Our latest playbook discusses key drivers of corporate separations and how companies can proactively prepare defense strategies. Download the report: https://lnkd.in/eAXg_2Sx

“I think growth will take off in a more pronounced way in 2026, and I believe that will drive the labor market with it." This week, Jonny Fine, global head of Investment Grade, joined CNBC's Squawk on the Street to discuss the current state of macro markets, the ways the AI ecosystem is anticipated to drive economic growth next year, and how financing volumes are likely to be impacted by both CapEx and M&A. Watch his interview: http://ms.spr.ly/6046tEWd8

On October 28, Skyworks Solutions, Inc. and Qorvo, Inc. announced that they have entered into a definitive agreement to combine the two companies to create a $22B US-based, global leader in high-performance radio frequency (RF), analog and mixed-signal semiconductors. We are honored to have served as financial advisor to Skyworks.

"Solving hard problems is what creates value." - Brian Armstrong, Coinbase co-founder and CEO, at our annual Builders + Innovators event convening more than 100 entrepreneurs. AI was a dominant theme alongside the importance of storytelling and cultivating talent, but the sentiment shared across all businesses—from nuclear reactors to gene therapy—could be encapsulated in one word: speed. ⚡ In every sector, the strategic planning cycle for fast moving and rapidly innovating companies has evolved from annually, to quarterly, to monthly. Everything is accelerating for those trying to compete and win. It was an honor to host this year's cohort of entrepreneurs and we are excited to see how this optimistic and ambitious group continues to tackle the world's most challenging problems head-on.

On October 28, OpenAI announced it has completed its recapitalization, simplifying its corporate structure. The nonprofit, now called the OpenAI Foundation, holds equity in the for-profit currently valued at approximately $130B. We are honored to have served as financial advisor to the OpenAI Foundation.