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AMERICAS

Eli Lilly and Company completes the acquisition of Centessa Pharmaceuticals from Medicxi Ventures, Index Ventures, and General Atlantic for $7.8bn.

Eli Lilly and Company, a pharmaceutical company, completed the acquisition of Centessa Pharmaceuticals, a clinical-stage pharmaceutical company specializing in orexin receptor 2 agonists, from Medicxi Ventures, a venture capital firm, Index Ventures, a venture capital firm based in London, and General Atlantic, a global growth equity firm, for $7.8bn, according to press releases.

Centessa Pharmaceuticals was advised by Centerview Partners (led by E. Eric Tokat and Nick Kensinger), Jefferies & Company (led by Christopher E. Roop), Goodwin Procter (led by Stuart Cable and Mitchell Bloom) and Ropes & Gray. Eli Lilly and Company was advised by Morgan Stanley (led by Albert Hwang) and Kirkland & Ellis (led by Keri Schick Norton and Sarkis Jebejian), according to press releases and MergerLinks data.

Serapha Bio to merge with Boundless Bio.

Serapha Bio, a clinical-stage biotechnology company, agreed to merge with Boundless Bio, a clinical-stage oncology company, according to press releases. Financial terms were not disclosed.

Serapha Bio is advised by Wedbush Securities, Gibson Dunn & Crutcher and Goodwin Procter. Boundless Bio is advised by Lucid Capital Markets, Latham & Watkins (led by Shannon Cheng, Daniel Rees and Cheston Larson) and Thrust Strategic Communications (led by Monique Allaire and Carly Scaduto), according to press releases and MergerLinks data.

Quantum Computing completes the acquisition of NHanced Semiconductors for $73.1m.

Quantum Computing, a quantum optics and integrated photonics technology company, completed the acquisition of NHanced Semiconductors, a US-based advanced packaging foundry, for $73.1m, according to press releases.

Quantum Computing was advised by Rosenblatt Securities, Wilson Sonsini Goodrich & Rosati and IMS Investor Relations (led by John Nesbett and Zachary Nevas). NHanced Semiconductors was advised by Needham & Co and Taft Stettinius & Hollister, according to press releases.

Keweenaw Financial to merge with Range Bank.

Keweenaw Financial, a provider of financial products and services, agreed to merge with Range Bank, a provider of community banking services to consumers and businesses, according to press releases. Financial terms were not disclosed.

Range Bank is advised by Performance Trust Capital Partners and Hunton Andrews Kurth. Keweenaw Financial is advised by Piper Sandler and Warner Norcross & Judd, according to press releases.

Edward Jones completes the investment in Aquiline-backed Quicken.

Edward Jones, a US-based financial services firm, completed the investment in Aquiline-backed Quicken, a provider of personal financial management software, according to press releases. Financial terms were not disclosed.

Quicken was advised by Goldman Sachs and Method Communications, according to press releases.

Huron Capital-backed Exigent Group completes the acquisition of Superior Building Services.

Huron Capital-backed Exigent Group, North America's provider of mission-critical mechanical systems solutions, completed the acquisition of Superior Building Services, a mechanical contractor, according to press releases. Financial terms were not disclosed.

Exigent Group was advised by Profile Advisors (led by Edward Lopez), according to press releases.

Hessaire Products completes the acquisition of PennBarry from Truelink Capital-backed Air Distribution Technologies.

Hessaire Products, a provider of evaporative coolers and mini-split heat pumps, completed the acquisition of PennBarry, a designer and manufacturer of ventilation solutions for industrial and commercial markets, from Truelink Capital-backed Air Distribution Technologies, a provider of innovative air distribution and ventilation solutions for residential and non-residential buildings, according to press releases. Financial terms were not disclosed.

Align Capital Partners-backed Schneider Geospatial completes the acquisition of New England GeoSystems.

Align Capital Partners-backed Schneider Geospatial, a provider of GIS-based SaaS solutions for parcel management, completed the acquisition of New England GeoSystems, a GIS consulting, spatial data creation and maintenance, and custom web development/hosting for municipal and private-sector clients, according to press releases. Financial terms were not disclosed.

PetVivo Holdings to acquire PiezoBioMembrane.

PetVivo Holdings, a company that specializes in the development and commercialization of innovative medical devices and therapeutics, agreed to acquire PiezoBioMembrane, a developer of a platform of biodegradable piezoelectric nanofibers and implantable transducer components, according to press releases. Financial terms were not disclosed.

Goldman Sachs Alternatives led a $110m Series C round in Taktile.

Goldman Sachs Alternatives, the alternative investments division of Goldman Sachs, led a $110m Series C round in Taktile, an AI-powered decision platform, with participation from Balderton Capital, Index Ventures, Tiger Global, Y Combinator and Dig Ventures, according to press releases.

Qualcomm to acquire Modular.

Qualcomm, an American multinational semiconductor and telecommunications equipment company, agreed to acquire Modular, an AI software infrastructure company, according to press releases. Financial terms were not disclosed.

Cybersecurity firm Varonis weighs sale after takeover interest. (Bloomberg)

Cybersecurity company Varonis is exploring options including a potential sale after receiving takeover interest from private equity firms including Blackstone, Thoma Bravo and Vista Equity Partners.

Miami-based Varonis is working with advisers as it fields preliminary interest from the firms.

GameStop's Ryan Cohen spurns $35bn pay plan to focus on eBay bid. (Press Release)

GameStop CEO Ryan Cohen will not receive a potential performance award from the videogame retailer, with the company set to unveil more details about its bid to take over eBay soon.

The $35bn compensation package was unveiled in January, hinging on a turnaround requiring Cohen to lift the company's market value more than tenfold and sharply boost its profit.

EMEA

Energy Fuels to acquire VAC Group from Ara Partners for $1.9bn.

Energy Fuels, a US-based uranium mining company, agreed to acquire VAC Group, a global manufacturer specializing in advanced magnetic materials, from Ara Partners, a private equity firm, for $1.9bn, according to press releases.

VAC is advised by Jefferies & Company and Latham & Watkins. Energy Fuels is advised by Goldman Sachs, Dentons, Dorsey & Whitney, Herbert Smith Freehills Kramer and Brunswick Group, according to press releases.

Ballard Power Systems to acquire GeoPura for £301m.

Ballard Power Systems, an innovative clean energy fuel cell solutions provider, agreed to acquire GeoPura, a supplier of renewable energy & EV charging, & emission-free electricity, for £301m ($400m), according to press releases.

GeoPura is advised by Barclays and Winston Taylor. Ballard Power Systems is advised by RBC Capital Markets, Ashurst and Stikeman Elliott, according to press releases.

August Equity-backed Fargo Group completes the acquisition of IXOLUTION.

August Equity-backed Fargo Group, a developer of transport and yard management software for the freight and intermodal industry, completed the acquisition of IXOLUTION, a European player in the field of transport automation, according to press releases. Financial terms were not disclosed.

Fargo Group was advised by Houthoff (led by Guillette van Grinsven), according to MergerLinks data.

Ari Emanuel in talks to buy theatre group ATG for £4.5bn. (FT)

American media mogul Ari Emanuel is in advanced talks to buy ATG Entertainment, owner of about 70 venues across the UK, US and Europe.

Providence is in exclusive talks to sell to Emanuel's Mari Group, with hopes a deal can be concluded within the next month. ATG has been owned by Providence since a £350m ($462.6m) deal in 2013, with Blackstone acquiring a minority stake in 2024.

Dubai Holding weighs stake in Bain's data centre group Hscale. (Bloomberg)

Dubai Holding is exploring an investment in data centre builder Hscale, which is majority-owned by Bain Capital, as it seeks to grow its European portfolio.

Dubai Holding is working with an adviser on a potential stake, as Bain seeks additional funding to develop the business and has reached out to potential investors.

Israel weighs US IPO for defense giants Israel Aerospace Industries and Rafael. (Bloomberg)

Israel is considering listing state-owned defense giants Israel Aerospace Industries and Rafael Advanced Defense Systems in the US, potentially to avoid stricter disclosure obligations in the local market.

Representatives from the government and the firms — makers of the Arrow and Iron Dome anti-missile systems — are set to travel to the US in mid-July to assess the possibility of an overseas IPO.

EG Group confidentially files for $1bn US IPO at $9bn valuation. (Bloomberg)

EG Group, the gas station and convenience store operator backed by buyout firm TDR Capital, has confidentially filed for a US IPO that could raise about $1bn.

The company is considering seeking a valuation of about $9bn in the IPO, with the listing potentially coming as soon as this year.

Fintech MNT-Halan taps Citi and EFG Hermes for Cairo listing. (Bloomberg)

Fintech MNT-Halan is planning an IPO of its Egyptian business in Cairo as soon as this year, the latest firm preparing a share sale in the Middle East's most populous nation.

It is working with Citigroup and EFG Hermes on the potential transaction and has held preliminary meetings with investors.

Africa's largest solar mini-grid operator WeLight sells stake to fund expansion. (Bloomberg)

WeLight, which operates almost 190 solar mini-grids across Madagascar and Mali serving over 800k people, raised €27m ($31m) from the International Finance and founding shareholders to back its expansion into Nigeria and the Democratic Republic of Congo.

The firm was established in 2018 by Axian Group, Sagemcom and Norfund to provide electricity to rural communities without access to national networks.

APAC

Avolta to acquire Okinawa operations of DFS Group.

Avolta, a Swiss-based travel retailer, agreed to acquire Okinawa operations of DFS Group, a travel retailer of luxury products, according to press releases. Financial terms were not disclosed.

Avolta is advised by Davis Polk & Wardwell (led by Daniel Brass), according to MergerLinks data.

Blackstone plans $30bn investment in Japan AI data centres. (DealStreetAsia)

Blackstone is planning to invest $30bn in Japan's AI data centres over the next three to five years, with discussions underway to develop facilities exceeding 1 gigawatt in the country.

The push reflects Blackstone's focus on AI infrastructure, with Japan's stable power supply and growing appetite for AI capacity offering a sizeable runway to deploy capital.

BlackRock-backed AIP, KKR among suitors for Stack Asia data centres. (Bloomberg)

The Artificial Intelligence Infrastructure Partnership and Brookfield Asset Management are among possible bidders for Stack Infrastructure's data centres in the Asia-Pacific region.

Other potential suitors include IFM Investors, KKR and DigitalBridge, which is being acquired by SoftBank. Stack has been gauging interest and is preparing to start a sale process as soon as July.

Philippine tycoon Gokongwei takes 15% stake in PhilWeb in online gaming push. (Bloomberg)

Philippine billionaire Lance Gokongwei is taking a 15% stake in online gaming technology firm PhilWeb, investing PHP2.03bn ($33m) into the company. PhilWeb will increase its authorised capital stock to PHP3.6bn ($59m) from PHP2.6bn ($43m) to facilitate his entry.

The move boosts PhilWeb's foray into AI and expands Gokongwei's exposure to the gaming industry. His family's businesses span food and airlines.

Qualcomm in talks to provide custom chip-design services to ByteDance. (Reuters)

Qualcomm is in talks to provide chip-design services to China's ByteDance, as the US company seeks to reduce dependence on the smartphone market, its biggest revenue source.

If successful, the negotiations would make ByteDance, parent of TikTok, an early customer of Qualcomm's chip-design services operation.

SK Hynix seeks $29bn with US listing to fund AI expansion. (Bloomberg)

SK Hynix is looking to raise KRW45.45tn ($29.4bn) in a US listing, as companies along the AI supply chain rush to increase capacity to meet memory chip demand.

At that size, the deal would be among the top five share sales of all time, comparable with Saudi Aramco's then-record 2019 IPO.

Luxshare gauges interest for $3bn Hong Kong listing. (Bloomberg)

AirPods maker Luxshare Precision Industry has started gauging interest for a Hong Kong listing that may raise about $3bn, in what could be one of the city's biggest deals this year.

The company's shares in Shenzhen have more than doubled over the past year, giving Luxshare a market capitalisation of over $77bn.

Zhipu weighs multibillion-dollar share sale in Hong Kong after 2000% gain. (Bloomberg)

Chinese AI model maker Zhipu is considering a share sale to raise several billion dollars in Hong Kong, after soaring 2000% since its listing in January.

Zhipu is working with advisers on a potential placement that may take place as soon as next month, with a six-month lock-up from its IPO expiring on July 8.

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