M&A

Business Services

Deal File No. 006: The $17 Billion Integration Paradox

Sep 2, 2026

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6 min read

Deal File No. 006: The $17 Billion Integration Paradox

The most important number in Aon's USI deal may not be $17 billion. It may be the $173 million expense that separates cost cutting from cutting growth.

Nick McClish

M&A

Deal File No. 005: The Deal Is the Split

Aug 28, 2026

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4 min read

Deal File No. 005: The Deal Is the Split

One buyer wants the products. Two others want the distribution. The deal works only if neither side destroys the other.

Nick McClish

M&A

Deal File No. 002: Airtable and the Optionality Tax

Aug 5, 2026

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5 min read

Deal File No. 002: Airtable and the Optionality Tax

What happens when software built to preserve choice meets an owner built to impose focus.

Nick McClish

M&A

Deal File No. 006: The $17 Billion Integration Paradox

Deal File No. 005: The Deal Is the Split

Deal File No. 002: Airtable and the Optionality Tax

the multiple