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deep equity research

Schneider Electric: Using M&A to Ride the Century Tailwind of Electrification

Schneider Electric: Using M&A to Ride the Century Tailwind of Electrification

Broadcom acquires to harvest cash, AB InBev to cut costs — Schneider Electric (SU) buys for a third reason: standing at the crossing of electrification, digitalization, net zero and AI power demand, upgrading into an energy-management and software leader.

AB InBev × 3G: The Acquisition Machine That Perfected Frugality — When Discipline Goes Too Far

AB InBev × 3G: The Acquisition Machine That Perfected Frugality — When Discipline Goes Too Far

3G Capital built AB InBev, the world's largest brewer, on zero-based budgeting and extreme cost discipline. Applied to consumer brands that need long-term investment, discipline taken too far bites back — two dividend cuts and Kraft Heinz's impairment tell the tale.

LVMH: Arnault's Luxury Empire — Combining Brands Into a Castle

LVMH: Arnault's Luxury Empire — Combining Brands Into a Castle

Over forty years, Bernard Arnault combined heritage houses — Dior, Louis Vuitton, Tiffany (~US$15.8bn) — into LVMH (MC.PA), the world's largest luxury empire. We unpack his takeover of LVMH, the best-owner model that scales a brand without diluting its scarcity, and the vision of 'Asia's Arnault.'

Broadcom: Hock Tan's M&A Compounding Machine — Disciplined 'Combining' at Its Peak

Broadcom: Hock Tan's M&A Compounding Machine — Disciplined 'Combining' at Its Peak

Hock Tan turned a string of ruthless acquisitions (LSI → Broadcom → VMware, ~US$69bn) into Broadcom's (AVGO) trillion-dollar compounding machine. We unpack the cash-flow flywheel — buy a mature franchise, cut costs, raise prices, harvest cash — and ask whether the model outlasts Hock Tan.