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Top Highlights
An investor group led by Permira and Warburg Pincus, and including Francisco Partners and Temasek, offered to acquire Clearwater Analytics, a software-as-a-service firm, for $8.4bn, according to press releases.
CACI International, a national security company, agreed to acquire ARKA Group, a fully integrated mission partner, from The Blackstone Group, a global investment firm, for $2.6bn, according to press releases.
Arka is advised by Evercore, JP Morgan and Simpson Thacher & Bartlett. CACI is advised by Wells Fargo Securities and Gibson Dunn & Crutcher, according to press releases.
Altius Minerals, a diversified mining company, agreed to acquire Lithium Royalty, an operator of a battery royalty and streaming company, for CAD521m ($377m), according to press releases.
Lithium Royalty is advised by Canaccord Genuity, Cormark Securities, TD Securities, Blake Cassels & Graydon and Davies Ward Phillips & Vineberg, according to press releases.
Deal Round up
AMERICAS
Medtronic’s diabetes management business, MiniMed, files for the IPO. ( Press Release)
EMEA
Telecom Italia’s board backs proposal to convert savings shares. ( Press Release)
APAC
Seven & i Holdings’ US arm hinges on a faster turnaround. ( Bloomberg)
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PR ADVISORS
DEBT PROVIDERS
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AMERICAS
Paramount has revised its takeover bid for Warner Bros. Discovery, with Larry Ellison personally guaranteeing $40.4bn of equity financing, while keeping the offer unchanged at $30 per share, or $77.9bn. Warner has previously advised shareholders to reject the bid, favoring Netflix’s $72bn proposal for its studios and HBO Max.
Paramount is advised by Bank of America, Barclays, Centerview Partners, Citigroup, M. Klein & Co, RedBird Advisors, Cleary Gottlieb Steen & Hamilton, Cravath Swaine & Moore (led by Faiza Saeed), Latham & Watkins (led by Ian A. Nussbaum), Brunswick Group and Okapi Partners. Debt financing is provided by Apollo Global Management, Bank of America and Citigroup. Warner Bros. Discovery is advised by Allen & Company, Evercore, JP Morgan, Debevoise & Plimpton (led by Jonathan Levitsky), Wachtell Lipton Rosen & Katz (led by Karessa Cain) and Joele Frank (led by Daniel Katcher). Financial advisors are advised by White & Case. Netflix is advised by Moelis & Co, Wells Fargo Securities, Skadden Arps Slate Meagher & Flom (led by Kenton J. King). Debt financing is provided by BNP Paribas, HSBC and Wells Fargo Securities, according to press releases and MergerLinks data.
Harbour Energy, one of the world's largest independent oil and gas companies, agreed to acquire LLOG Exploration Company, a private deepwater oil and gas exploration and production company, for $3.2bn, according to press releases.
LLOG is advised by Guggenheim Partners. Harbour Energy is advised by Bank of America, Barclays and JP Morgan, according to press releases.
Cintas Proposes, a provider of uniforms, mats, mops, cleaning and restroom supplies, first aid and safety products, fire extinguishers and testing, and safety courses, offered to acquire UniFirst, a uniform rental company, for $5.2bn, according to press releases.
Cintas is advised by Davis Polk & Wardwell and FGS Global (led by Bryan Locke), according to press releases.
Samsung Biologics, a contract development and manufacturing organization, agreed to acquire Human Genome Sciences, a biopharmaceutical company, from GSK, a global healthcare company, for $280m, according to press releases.
GHK-backed JohnsByrne, a provider of premium folding carton and specialty packaging solutions, completed the acquisition of Municipal Packaging, a premium custom packaging provider based in Los Angeles, according to press releases. Financial terms were not disclosed.
Medtronic’s diabetes management business, MiniMed, files for the IPO. ( Press Release)
MiniMed Group has filed for a US initial public offering ahead of its planned separation from Medtronic, reporting rising revenue and a narrowing net loss.
The company posted a net loss of $21m on revenue of $1.5bn for the six months, narrowing from a $23m loss on revenue of $1.3bn in the same period in 2024.
EMEA
JAB Insurance, the global insurance business of JAB Holding Company, agreed to acquire the Life and Pensions business of Utmost Group, a provider of insurance and savings solutions in the UK and internationally, according to press releases. Financial terms were not disclosed.
JAB is advised by Barclays and Skadden Arps Slate Meagher & Flom. Utmost Group is advised by Fenchurch Advisory Partners and King & Spalding, according to press releases.
Equitix, a global investor, developer, and long-term fund manager of core infrastructure assets, agreed to acquire an additional stake in Viridor, an operator of Energy-from-Waste facilities, from KKR, a global investment firm, according to press releases. Financial terms were not disclosed.
Equitix is advised by Bank of America and Linklaters. KKR is advised by Barclays and UBS, according to press releases and MergerLinks data.
Trian, a multi-billion dollar investment management firm, General Catalyst, a venture capital firm, agreed to acquire a remaining 79.6% stake in Janus Henderson, an investment management company, for $5.9bn, according to press releases.
Janus Henderson is advised by Skadden Arps Slate Meagher & Flom (led by Patrick Lewis), Wachtell Lipton Rosen & Katz (led by Edward D. Herlihy). Bidders are advised by Kirkland & Ellis (led by Christian A. Atwood). General Catalyst is advised by FGS Global (led by Kevin Siegel), according to press releases and MergerLinks data.
Gilde Healthcare, a private equity fund, completed the acquisition of a majority stake in Physio CKI, a provider of physiotherapy services, from Kapital 1852, a fund platform initiated and advised by Hauck Aufhäuser Lampe Privatbank, according to press releases. Financial terms were not disclosed.
Valmet, a global developer and supplier of technologies, automation and services for the pulp, paper and energy industries, agreed to acquire Severn, an engineering company, from Bluewater, a private equity firm, for $480m, according to press releases.
Debt financing is provided by Danske Bank and OP Corporate Bank, according to press releases.
BBVA, a bank providing retail, wholesale, and investment banking services, and NATIXIS, a corporate and investment bank, completed a $300m investment in Polestar, according to press releases.
Polestar is advised by Bank of America, according to press releases.
EQT Partners, a global private equity firm, agreed to acquire A-Train, the operator of the Arlanda express high-speed rail service, according to press releases. Financial terms were not disclosed.
Telecom Italia’s board backs proposal to convert savings shares. ( Press Release)
Telecom Italia’s board has approved a proposal to convert the company’s savings shares into ordinary stock and to reduce its share capital, advancing a long-delayed effort to simplify its capital structure.
APAC
K Wave Media, a global entertainment and media company, agreed to acquire a 42.25% stake in Hansol Inticube, an AI language and software development company, according to press releases. Financial terms were not disclosed.
K Wave Media is advised by Red Rooster PR (led by Evan Sneider), according to press releases.
Carlyle, an American multinational private equity, agreed to acquire KFC Korea, a restaurant company, according to press releases. Financial terms are not disclosed.
Carlyle is advised by Kirkland & Ellis (led by Jesse Sheley) The SIGNATURE (led by Jason Sohn), according to press releases.
Motilal Oswal, an Indian financial services company, completed a $72m investment in Sensa Core, a medical equipment manufacturing company, according to press releases.
Sensa Core was advised by Veda Corporate Advisors, according to press releases.
Seven & i Holdings’ US arm hinges on a faster turnaround. ( Bloomberg)
Seven & i Holdings’ chief executive is pushing its US convenience-stores business to deliver a faster turnaround as the retailer considers an initial public offering of the unit to fund new investment and boost shareholder returns.
The timing of a potential listing will depend on operational execution and market conditions, according to CEO Stephen Dacus, who took the role six months ago. He said the company has yet to fully realize the potential of its US operations, adding that performance remains below expectations.
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