Top Highlights
ADIA and CPP-backed EQT, a private equity firm, agreed to acquire QIAGEN, a global provider of Sample to Insight solutions to transform biological materials into valuable molecular insights, for €10.8bn ($12.13bn), according to press releases.
QIAGEN is advised by Goldman Sachs, Moelis & Co, Perella Weinberg Partners, Davis Polk & Wardwell, De Brauw Blackstone Westbroek and Linklaters. ADIA is advised by Clifford Chance. CPP is advised by Freshfields. EQT is advised by Deutsche Bank, Jefferies & Company, Morgan Stanley, Milbank, Paul Weiss Rifkind Wharton & Garrison, Stibbe (led by Marc Habermehl and Nora Offergelt) and Kekst CNC. Debt financing is provided by Credit Agricole, Deutsche Bank, Jefferies & Company, Morgan Stanley, Sumitomo Mitsui Banking Corp and UniCredit, according to press releases and MergerLinks data.
London Stock Exchange Group, a British-based stock exchange and financial information company, agreed to acquire Octus, a provider of credit intelligence and financial data, from Permira, private equity firm that focuses on consumer, healthcare, financial services, industrials, and technology sectors, $3.535bn, according to press releases.
Permira and Octus are advised by Evercore, Goldman Sachs and Weil Gotshal and Manges. Octus is advised by Kleinberg Kaplan Wolff & Cohen, McDermott Will & Schulte and Moulton Moore Stella. London Stock Exchange Group is advised by Barclays and Morgan Stanley, according to press releases.
Forge Nano, a materials‑science and nanotechnology company, went public via SPAC merger with Archimedes II, a special purpose acquisition company, in a $1.2bn deal, according to press releases.
Forge Nano was advised by Btig, Cohen & Company Capital Markets and Paul Weiss Rifkind Wharton & Garrison (led by Benjamin Goodchild, Timothy Cruickshank and Christodoulos Kaoutzanis). Financial advisors were advised by Kirkland & Ellis. Archimedes II was advised by Loeb & Loeb and Alliance Advisors(led by Bryan Baritot), according to press releases and MergerLinks data.
AMERICAS
NextEra Energy tops quarterly profit estimates, with Dominion deal on track. ( Reuters)
Chevron to sharpen US Gulf focus with sale of older assets. ( Reuters)
Apollo and Blackstone have NFL aspirations and seek approval to buy stakes in teams. ( Bloomberg)
Mattel adds largest investor to board in bid to "unlock value". ( Bloomberg)
IBM shares fall as results fail to offset broader tech worries. ( Bloomberg)
EMEA
Politico and Telegraph owner pitched deal to buy European arm of TikTok. ( FT)
Bridgepoint and Bain among bidders for UK-based wealth manager W1M. ( Bloomberg)
US-based Circle8 gets second deadline extension for SThree takeover bid. ( Reuters)
APAC
China's DeepSeek raises $15bn to challenge top US AI labs. ( Bloomberg)
UBS acquires 4.8% stake in Indian wealth manager 360 One Wam. ( Reuters)
CATL-backed Noetix Robotics to file for Hong Kong IPO. ( Bloomberg)
Korea's neocloud firm Elice tops IPO price in second-day rally. ( Bloomberg)
MiniMax erases post-IPO gain as AI model rivalry intensifies. ( Bloomberg)
Jio leverage play pops up at SBI as India brokers lure IPO bets. ( Bloomberg)
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AMERICAS
Stone-Goff Partners, a growth-oriented private equity firm, completed the investment in Quandary Consultants, a Denver-based provider of regulatory and compliance-driven environmental services for operators of critical infrastructure, according to press releases. Financial terms were not disclosed.
Stone-Goff Partners and Quandary Consultants were advised by Citizens M&A, Fredrikson & Byron and Holland & Hart. Stone-Goff Partners was advised by Gregory FCA. Debt financing was provided by Capital Southwest Corporation, according to press releases.
Fengate, an alternative investment manager, completed a $330m investment in Pilot Fiber, an enterprise connectivity provider in the New York metro area, according to press releases.
Fengate was advised by Guggenheim Partners, Simpson Thacher & Bartlett and Leo Berwick. Pilot Fiber was advised by Goodwin, according to press releases.
LGM Pharma, a CDMO provider of comprehensive API sourcing and drug product contract development and manufacturing solutions, completed the acquisition of Sannova Analytical, a contract analytical laboratory providing bioanalytical and analytical chemistry services. Financial terms were not disclosed.
Sannova Analytical was advised by Fairmount Partners and Goodwin. LGM Pharma was advised by Reed Smith and Brandwidth Solutions (led by Charya Wickremasinghe), according to press releases.
Stonepeak, an alternative investment firm, completed the acquisition of Chicago Parking Meters, the operator of the City of Chicago’s on-street parking system, from a consortium of investors consisting of Morgan Stanley Infrastructure Partners, Allianz, and ADIA, according to press releases. Financial terms were not disclosed.
Stonepeak was advised by Greenhill & Co, Burke Burns & Pinelli and Simpson Thacher & Bartlett, according to press releases.
Vinci Compass, an alternative asset management and advisory firm, agreed to acquire Austral Resseguradora, an independent reinsurance platform, for BRL336m ($66.86m), according to press releases.
Vinci Compass is advised by Prosek Partners (led by Trevor Gibbons) and Danthi Comunicações (led by Carla Azevedo), according to press releases.
Pilot Fiber, an enterprise connectivity provider in the New York metro area, agreed to acquire NY/NJ metro fiber business of Boldyn Networks, a neutral host provider specializing in advanced neutral host network infrastructure and end-to-end solutions, according to press releases. Financial Terms were not disclosed.
Boldyn Networks is advised by Bank Street Group and Paul Hastings, according to press releases.
Bose Corporation, an American manufacturing company that predominantly sells audio equipment, completed the acquisition of Skullcandy, a manufacturer of headphones and accessories, from Mill Road Capital, a private equity firm, according to press releases. Financial terms were not disclosed.
Bose Corporation was advised by Jones Day (led by Randi C. Lesnick), according to press releases and MergerLinks data.
Koliway, an industry growth partner focused exclusively on the logistics and supply chain sector, completed the acquisition of Millhouse Logistics, a certified time-critical freight provider specializing in time-critical expedited ground, air freight, full truckload, drayage and cross-border solutions, according to press releases. Financial terms were not disclosed.
Koliway was advised by Derks Livingston (led by Mark Derks), according to press releases.
Trane Technologies, a heating, ventilation, and air conditioning and refrigeration systems company, agreed to acquire Cancoil, a manufacturer of heat-transfer products, according to press releases. Financial terms were not disclosed.
Cancoil is advised by Lazard, according to press releases.
KKR, an investment firm, agreed to acquire IEP Technologies, a provider of explosion protection solutions, and Newson Gale, a provider of static grounding and bonding solutions, from HOERBIGER, a developer and manufacturer of engineered components and systems, according to press releases. Financial terms were not disclosed.
NextEra Energy tops quarterly profit estimates, with Dominion deal on track. ( Reuters)
NextEra Energy said it continues to make progress on its proposed $66.8bn acquisition of Dominion Energy despite regulatory scrutiny, as the US utility reported third-quarter profit above analysts’ estimates.
The deal, which has received shareholder approval and is expected to close in the second half of 2027, faces scrutiny from regulators and elected officials in several states over electricity affordability and potential market power concentration.
Chevron to sharpen US Gulf focus with sale of older assets. ( Reuters)
Chevron is exploring the sale of some of its older oil and gas assets in the US Gulf of Mexico as part of a strategy to focus on higher-growth developments in the region.
The US energy major is in the early stages of a process expected to last several months that could result in the divestment of multiple assets.
Apollo and Blackstone have NFL aspirations and seek approval to buy stakes in teams. ( Bloomberg)
Blackstone and a unit of Apollo Global Management are in preliminary talks with the NFL to join the league’s list of approved private equity firms permitted to acquire minority stakes in its teams.
Both firms would likely need to secure an investment deal with a team to complete the approval process, which is not expected to be finalized before 2027. The discussions remain at an early stage.
Mattel adds largest investor to board in bid to "unlock value". ( Bloomberg)
Mattel has appointed Lee Matheson, a partner at EdgePoint Investment Group, to its board, adding a representative of its largest shareholder amid takeover interest in the toy maker.
EdgePoint holds an approximately 18% stake in Mattel. Matheson said he looked forward to working with management and the board to unlock the company’s value for shareholders.
IBM shares fall as results fail to offset broader tech worries. ( Bloomberg)
IBM shares fell more than 5% in premarket trading after stronger-than-expected sales growth failed to ease broader concerns about the technology sector amid a retreat from riskier assets.
US stock futures declined, with Nasdaq 100 contracts leading losses. IBM shares had already fallen 15% year to date through 21st October's close.
EMEA
Amulet Capital Partners-backed TFP Fertility Group, a provider of fertility services, ultrasound pregnancy scans and hormone treatments, completed the acquisition of Manchester Fertility Group, a fertility clinic that provides assisted reproductive treatments, donor egg and sperm services, according to press releases. Financial terms were not disclosed.
Amulet Capital Partners and TFP Fertility Group were advised by Lincoln International and McDermott Will & Schulte. Amulet Capital Partners was advised by Joele Frank (led by Erik Carlson and Madeline Jones). Manchester Fertility Group was advised by Clearwater and Weightmans, according to press releases.
Bregal Milestone, a private equity firm, completed an investment in Nethive, a cybersecurity company, according to press releases Financial terms were not disclosed.
Bregal Milestone was advised by Alvarez & Marsal, Fineurop Soditic and PedersoliGattai. Nethive was advised by Deloitte and Klecha & Co, according to press releases.
Evergreen-owned Lyra Technology Group, a family of IT services businesses, completed the acquisition of Lantack, a managed service provider delivering comprehensive IT services to businesses across the Netherlands and internationally, according to press releases. Financial terms were not disclosed.
Evergreen and Lyra Technology Group are advised by WhiteFox Marketing. Evergreen is advised by MiddleM Creative, according to press releases and MergerLinks data.
IFM Investors, an Australia-based company that provides investment management services, agreed to acquire 63.9% stake in Associated British Ports, a UK-based port operator, from CPP Investments, a global investment management organization, and OMERS, a Canada-based infrastructure investment that makes direct and co‑investments in infrastructure companies and assets, according to press releases. Financial terms were not disclosed.
CPP Investments and OMERS are advised by Morgan Stanley, according to press releases.
Diatech Pharmacogenetics, an Italian molecular diagnostics company serving the precision medicine market internationally, completed the acquisition of SensoQuest, develops and manufactures Labcycler PCR thermocyclers and thermal blocks for laboratory use, according to press releases. Financial terms were not disclosed.
Diatech Pharmacogenetics was advised by OutspokenPR (led by Josephine Ornago), according to press releases.
Bregal Milestone-backed Nethive, a cybersecurity company, completed the acquisition of JoyComm, an Italian cybersecurity and IT/OT networking specialist, according to press releases. Financial terms were not disclosed.
Politico and Telegraph owner pitched deal to buy European arm of TikTok. ( FT)
Axel Springer has proposed acquiring a stake in TikTok’s European operations, as the German media group seeks to expand its digital media portfolio.
The proposal comes as Chief Executive Mathias Döpfner pushes for a change in ownership of the video-sharing platform.
Bridgepoint and Bain among bidders for UK-based wealth manager W1M. ( Bloomberg)
Bridgepoint, Bain Capital and Aquiline are among the private equity firms interested in acquiring UK-based wealth and investment manager W1M.
The sale process has advanced to the second round of bidding.
US-based Circle8 gets second deadline extension for SThree takeover bid. ( Reuters)
Circle8 has been granted an additional 28 days, until November 18, to decide whether to make a takeover offer for British recruiter SThree.
The extension gives the US-based staffing firm more time to assess a potential acquisition of SThree, which operates in the recruitment market.
APAC
China's DeepSeek raises $15bn to challenge top US AI labs. ( Bloomberg)
DeepSeek has raised about CNY100bn ($15bn) in its latest funding round, marking one of China's largest-ever fundraisings as the AI startup seeks to compete globally with OpenAI and Anthropic.
The Hangzhou-based company increased its fundraising target several times, from an initial CNY50bn ($7.5bn) to CNY80bn ($12bn) before reaching the final amount. Contemporary Amperex Technology and Tencent Holdings were among the largest investors in the round.
UBS acquires 4.8% stake in Indian wealth manager 360 One Wam. ( Reuters)
UBS has acquired an approximately 4.8% stake in Indian wealth manager 360 One Wam after converting warrants into shares, marking another step in the companies’ strategic partnership.
The transaction comes as foreign banks face growing competition from domestic wealth managers in India amid regulatory constraints.
CATL-backed Noetix Robotics to file for Hong Kong IPO. ( Bloomberg)
Noetix Robotics has confidentially filed for a Hong Kong initial public offering.
The Beijing-based humanoid robot maker, formally known as Songyan Power Beijing Technology, could go public as soon as 2027.
Korea's neocloud firm Elice tops IPO price in second-day rally. ( Bloomberg)
South Korean neocloud-service provider Elice has extended its post-IPO rally, with shares rising as much as 25% on 22nd October to KRW99.9 ($75.3), moving above its IPO price of KRW90.5 ($68.2) for the first time since its trading debut earlier this week.
The shares closed 30% higher on 21st October, hitting the daily trading limit, as investor demand reflected continued interest in AI-related growth opportunities.
MiniMax erases post-IPO gain as AI model rivalry intensifies. ( Bloomberg)
MiniMax Group shares fell as much as 7.3% in Hong Kong to HKD159.30 ($20.3) on 22nd October, erasing all gains since the Chinese artificial intelligence model developer’s January trading debut and slipping below its IPO price of HKD165 ($21).
The decline reflects growing investor concerns over intensifying competition in China’s AI sector.
Jio leverage play pops up at SBI as India brokers lure IPO bets. ( Bloomberg)
SBI Securities is offering financing of up to 60% of the amount required to apply for Jio Platforms’ planned IPO, as brokerages compete to attract investors ahead of the highly anticipated listing.
The brokerage, through its parent State Bank of India, is providing funding for IPO applications ranging from INR500k ($5.3k) to INR1m ($10.6k), with allotted shares serving as collateral. Several other firms are also approaching clients with financing options.
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