PODCAST · business
Deal Alchemist
by Dieunor Michel
Deal Alchemist turns complex mergers and acquisitions into simple stories you can use.Each week, two hosts break down one real deal in plain English: what happened, why it happened, how it was done, and what changed after. We cover the facts, the strategy, the structure, the risks, and the early results—so operators, students, and investors can learn fast.You'll hear clear takeaways like: buy for a reason, price with discipline, and integrate to value. No jargon. No fluff. Just a deep dive that helps you think like a smart buyer.This podcast was founded by Dieunor Michel, who is also the founder of Xpertegic(Hosted by Xpertegic's AI agents).New episodes every week.Occasional sponsor: Xpertegic—an advisory firm that helps companies grow through acquisition.Follow Dieunor on LinkedIn: https://www.linkedin.com/in/dieunormichel/Website: https://xpertegic.com/
Episodes
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Why Bain Paid a Premium for a Company That Owns No Software
HSO does not own the software it sells. Microsoft does. HSO installs it, connects it and keeps it running for more than 1,400 customers in over 30 countries. In August 2025, Bain Capital agreed to buy it from Carlyle at a reported valuation of about $1 billion. Under Carlyle, HSO grew from about...
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Broadcom and VMware: The $69 Billion Integration That Worked, at a Cost
Most acquisitions fail because the buyer moves too slowly. Broadcom did the opposite. It closed its roughly $69 billion acquisition of VMware in November 2023. Within weeks, the product line was cut to two core bundles, new perpetual licenses ended, partner programs were reset and costs started...
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How Walgreens' Doctor Bet Ended in a $15.4 Billion Write-Down
Walgreens wanted its pharmacies to become the front door of American healthcare. It ended with $15.4 billion of gross write-downs and a private equity breakup. In this episode of Deal Alchemist, Xpertegic Partners breaks down Walgreens' bet on VillageMD: a $5.2 billion deal for control in 2021,...
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Forward Air Hit Its Synergy Target and Still Lost 86% of Its Value
Forward Air delivered the cost synergies it promised. Its shareholders still lost roughly 86% of their value. In this episode of Deal Alchemist, Xpertegic Partners breaks down Forward Air's $3.246 billion acquisition of Omni Logistics and what it reveals about the difference between capturing...
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Apollo's Emerald–Questex Deal: Which Operating Model Wins?
In this episode of Deal Alchemist, Xpertegic Partners breaks down Apollo Global Management's simultaneous acquisition of Emerald Holding and Questex, and what it reveals about choosing an operating model when two companies are bought at the same time. Apollo did not buy a platform and bolt an...
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Why Carrier Paid $13 Billion for Viessmann Just as Europe's Heat Pump Market Cracked
Carrier acquired Viessmann Climate Solutions for €12 billion to become a pure-play climate company and gain access to 75,000 European installers. Then Germany's heat pump market collapsed. In this episode of Deal Alchemist, we unpack Carrier's portfolio transformation, the divestitures used to…
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Why NVIDIA Acquired Mellanox for $7.1 Billion Before the AI Boom
NVIDIA acquired Mellanox for $7.1 billion before the AI boom made high-speed networking critical infrastructure. In this episode of Deal Alchemist, we unpack why NVIDIA pursued Mellanox, how the acquisition helped solve a major AI computing bottleneck, and how combining GPUs with InfiniBand...
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Dream Finders Chased Beazer for Six Months. Then It Landed a $2.2 Billion Deal
Dream Finders Homes spent six months pursuing Beazer Homes before reaching a $2.2 billion all-cash deal—and the real opportunity goes beyond building more homes. In this episode of Deal Alchemist, we break down how Dream Finders plans to apply its land-light model and financial services engine to...
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Salesforce Paid $27.7 Billion for Slack. The Real Payoff May Be AI
Salesforce paid $27.7 billion for Slack at the height of the SaaS boom. Five years later, the deal looks very different. When Salesforce announced the acquisition in December 2020, Marc Benioff envisioned Slack as the "operating system for the new way to work." But turning that vision into value...
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Uber's $2.25 Billion Transplace Acquisition Reinvented Uber Freight
Uber Freight wasn't failing because it lacked technology. It was failing because it lacked enterprise relationships. In this episode of Deal Alchemist, we break down Uber's $2.25 billion acquisition of Transplace and explain why the deal fundamentally changed Uber Freight's business model. Before...
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The $17 Billion Tech Play for Blue-Collar Labor
What if the biggest risk in a $17 billion acquisition was not financing the deal, but integrating thousands of branches, systems, and skilled workers without disrupting customer service? In this episode of Deal Alchemist, we examine QXO's acquisition of TopBuild and the strategy behind building a...
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The Pest Control Roll-Up That Became an Integration Test
What if the hardest part of a $6.7 billion acquisition was not getting the deal signed, but changing the route sheet, branch software, pay plans, and daily habits of thousands of local technicians? In this episode of Deal Alchemist, we break down Rentokil's acquisition of Terminix and why a deal...
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How Netflix Paid $686 Million for Roald Dahl and Built an IP Empire
In September 2021, Netflix secured a foundational asset for the streaming wars by acquiring the Roald Dahl Story Company (RDSC) for over $686 million (more than £500 million). This episode breaks down the transaction that transformed Netflix from a temporary content licensee into the exclusive,...
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WarnerMedia × Discovery: Inside the $65.3B Merger and Its Fallout
A deep dive into one of the most dramatic corporate sagas in modern media. We break down AT&T's failed $85B Time Warner bet, the $65.3B WarnerMedia–Discovery reverse Morris trust deal, and the turbulent journey that followed — from massive debt pressures and creative clashes to canceled...
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Amazon + Whole Foods: The $13.7B Deal That Redefined Retail
In 2017, Amazon stunned Wall Street and Main Street with its $13.7 billion acquisition of Whole Foods Market. More than just a grocery buy, this move became a blueprint for modern M&A—showcasing how technology, logistics, and brand can converge to reshape an entire industry. In this episode, we...
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Disney Buys 21st Century Fox for $71.3B
Why Disney Bought Fox—and How It Changed Streaming Disney didn't buy 21st Century Fox just to get bigger—it did it to win the streaming race. We walk through what Disney bought (from Avatar to The Simpsons, plus control of Hulu and Hotstar), why Fox kept live news and sports, and how a bidding...
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Deal Breakdown: Microsoft buys LinkedIn for $26.2B
In this episode, we break down Microsoft's $26.2B acquisition of LinkedIn: why it made strategic sense, how the deal was structured and financed, and the EU remedies that cleared the path. Then we track early product integrations and performance signals. Finish with a simple playbook on buying…
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ABOUT THIS SHOW
Deal Alchemist turns complex mergers and acquisitions into simple stories you can use.Each week, two hosts break down one real deal in plain English: what happened, why it happened, how it was done, and what changed after. We cover the facts, the strategy, the structure, the risks, and the early results—so operators, students, and investors can learn fast.You'll hear clear takeaways like: buy for a reason, price with discipline, and integrate to value. No jargon. No fluff. Just a deep dive that helps you think like a smart buyer.This podcast was founded by Dieunor Michel, who is also the founder of Xpertegic(Hosted by Xpertegic's AI agents).New episodes every week.Occasional sponsor: Xpertegic—an advisory firm that helps companies grow through acquisition.Follow Dieunor on LinkedIn: https://www.linkedin.com/in/dieunormichel/Website: https://xpertegic.com/
HOSTED BY
Dieunor Michel
CATEGORIES
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Frequently Asked Questions
How many episodes does Deal Alchemist have?
Deal Alchemist currently has 17 episodes available on PodParley. New episodes are automatically indexed when they're published to the podcast feed.
What is Deal Alchemist about?
Deal Alchemist turns complex mergers and acquisitions into simple stories you can use.Each week, two hosts break down one real deal in plain English: what happened, why it happened, how it was done, and what changed after. We cover the facts, the strategy, the structure, the risks, and the early...
How often does Deal Alchemist release new episodes?
Deal Alchemist has 17 episodes. Check the episode list to see recent publication dates and frequency.
Where can I listen to Deal Alchemist?
You can listen to Deal Alchemist on PodParley by clicking any episode. We provide an embedded audio player for direct listening, and you can also subscribe via your preferred podcast app using the RSS feed.
Who hosts Deal Alchemist?
Deal Alchemist is created and hosted by Dieunor Michel.
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