Interview Case Study for Corp Dev role at a Mid-Sized Startup

Hi, Need advice from all forum members. I have a Associate level Corp Dev interview at a mid-sized (150 employees+, $100mn funding) startup. In my first round they mentioned that I will be given a case study. Wanted to know if anyone has had any experience with Case Studies for corp dev roles at tech companies and what to expect. Normally I would have expected some sort of modelling test but given that the companies are private and that there is no accretion/dilution I expect the model to be fairly simple? Would it be more of an analysis into the strategic aspects of the deal? My background is MBA + summer in IB at a Tier 1 bank. Any advice is appreciated. Thanks,

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