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Top Highlights
Apollo, an American asset management firm, offered to acquire easyJet, a British low-cost airline and package holiday multinational group, for £5.7bn ($7.7bn), according to press releases.
Dream Finders Homes, a national homebuilder specializing in customizable single-family homes, agreed to acquire Beazer Homes, a home construction company, for $2.2bn, according to press releases.
Beazer Homes is advised by JP Morgan, Moelis & Co, King & Spalding and Collected Strategies. Dream Finders Homes is advised by Bank of America, Goldman Sachs, Vestra Advisors, Zelman Partners, Foley & Lardner, Paul Weiss Rifkind Wharton & Garrison, Edelman and Innisfree M&A. Debt financing is provided by Bank of America, Goldman Sachs and Kennedy Lewis, according to press releases and MergerLinks data.
Yum China, an American-Chinese fast-food restaurant company, completed the acquisition of the Mainland China operations of Pizza Hut, an American multinational pizza restaurant chain and international franchise, from Yum! Brands, an American multinational fast food corporation, for $2.7bn, according to press releases.
AMERICAS
Allied Gold open to further Zijin investment after merger collapse. ( Bloomberg)
Verisk ordered to proceed with $2.35bn AccuLynx acquisition. ( Reuters)
Ashland explores potential sale after takeover interest. ( Bloomberg)
Switch files confidentially for US IPO. ( Bloomberg)
Latigo Biotherapeutics raises $346m in upsized US IPO. ( Bloomberg)
BlossomHill Therapeutics raises $150m in upsized US IPO. ( Bloomberg)
EMEA
Russia explores sale of Sheremetyevo airport stake. ( Reuters)
Mike Ashley leads race for Harvey Nichols takeover. ( Sky News)
Joseph owner explores potential sale of British fashion brand. ( Sky News)
ADNOC hires Michael O'Dwyer as CIO. ( Reuters)
APAC
DeepSeek seeks nearly $8bn in resumed funding round. ( Bloomberg)
Mubadala weighs $6.3bn Japan AI data center investment. ( DealStreetAsia)
PSP Investments explores $1.5bn sale of India roads. ( Bloomberg)
Kirin eyes further North American M&A after Jamieson deal. ( Bloomberg)
KV Asia weighs exit from Indonesian personal care company. ( DealStreetAsia)
Fossil Group considers $300m India unit IPO. ( Bloomberg)
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COMPANIES
INVESTORS
FINANCIAL ADVISORS
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AMERICAS
Arkview Capital-backed NEOTech, a provider of electronic manufacturing services, completed the acquisition of Virtex, a provider of electronic manufacturing services focused primarily on the defense market, according to press releases. Financial terms were not disclosed.
Virtex was advised by Lincoln International and Alston & Bird. Arkview Capital was advised by Virtas Partners, Greenberg Traurig, Sheppard Mullin Richter & Hampton and RSM International. Debt financing was provided by PNC, Crestline Investors and Canyon Partners, according to press releases.
Nielsen, an audience measurement, data, and media intelligence company, agreed to acquire DoubleVerify, a software platform to verify media quality, optimize ad performance, and prove campaign outcomes, for $2.15bn, according to press releases.
DoubleVerify is advised by PJT Partners and Paul Hastings. Nielsen is advised by Barclays and Gibson Dunn & Crutcher. Debt financing is provided by Bank of America, Barclays and Citigroup. Providence Equity is advised by Davis Polk & Wardwell (led by Michael Diz), according to MergerLinks data and press releases.
KKR, an investment firm, completed the investment in Crowe, a public accounting and consulting firm, according to press releases. Financial terms were not disclosed.
The Farmer's Dog, a pet food company, agreed to acquire Woof, a company specializing in dog health products, according to press releases. Financial terms were not disclosed.
Woof is advised by Harris Williams and KO Law. The Farmer's Dog is advised by Bank of America and Latham & Watkins. Debt financing is provided by Bank of America and JP Morgan. Bank of America and JP Morgan are advised by Paul Hastings, according to press releases.
Kirin, a Japanese beer and beverage holding company, agreed to acquire Jamieson Wellness, a manufacturer and marketer of a vitamins, minerals and supplements brand, for CAD2.5bn ($1.4bn), according to press releases.
Jamieson Wellness is advised by BMO Capital Markets, Canaccord Genuity, Goodmans and Paul Weiss Rifkind Wharton & Garrison (led by Adam M. Givertz). Kirin is advised by UBS and Torys, according to MergerLinks data and press releases.
Spencer Spirit Holdings, a parent company of lifestyle and specialty retail brands, agreed to acquire Hot Topic, an omni-channel merchandise destination, from Sycamore Partners, a private equity firm, according to press releases. Financial terms were not disclosed.
Hot Topic is advised by Jefferies & Company and Kirkland & Ellis. Spencer Spirit is advised by Solomon Partners, Wells Fargo Securities and Fried Frank Harris Shriver & Jacobson. Sycamore Partners is advised by Joele Frank (led by Michael Freitag), according to MergerLinks data and press releases.
Carlyle, a US-based global private equity and alternative asset manager, agreed to acquire a minority stake in Prime Capital Financial, an independent financial services firm, for $600m, according to press releases.
Prime Capital Financial is advised by William Blair, Goldman Sachs, Kirkland & Ellis, Spencer Fane and KPMG. Carlyle is advised by Debevoise & Plimpton, according to press releases.
SPS, a provider of carbon steel products and testing solutions, agreed to acquire Jemison Metals, a supplier of carbon flat-rolled products, from Jemison Investment, a family office, according to press releases. Financial terms were not disclosed.
Jemison Metals and Jemison Investment are advised by Heritage Capital Group (led by John Montgomery). Jemison Investment is also advised by Butler Snow. SPS is advised by Polsinelli and Weary Davis, according to press releases.
Harvest Partners and A&M Capital Partners-backed Med-Metrix, a company specializing in technology-enabled revenue cycle management, completed the acquisition of Vitalware, a company focused on revenue workflow and analytics software, from Health Catalyst, a provider of data and analytics technology services, for $147m, according to press releases.
Macquarie Asset Management, an Australian financial services group, completed the acquisition of the South American tower operations of IHS Towers, an independent owner, operator, and developer of shared communications infrastructure, for $685m, according to press releases.
iRhythm, a digital health care company, agreed to acquire VitalConnect, a wearable biosensor technology company, for $288m, according to press releases.
VitalConnect is advised by Morgan Stanley. iRhythm is advised by Goldman Sachs and Fenwick & West, according to MergerLinks data and press releases.
ENEOS, a petroleum and metals conglomerate, agreed to acquire TPC Group, a petrochemical manufacturer. Financial terms were not disclosed.
TPC Group is advised by Moelis & Co and Paul Hastings. ENEOS is advised by Jefferies & Company, according to MergerLinks data and press releases.
Fairfax, a diversified financial holding company, agreed to acquire the Mexico insurance operations from Everest Group, an underwriter, according to press releases. Financial terms were not disclosed.
Everest Group is advised by Guy Carpenter and Debevoise & Plimpton (led by Megan Arrogante), according to MergerLinks data and press releases.
Allied Gold open to further Zijin investment after merger collapse. ( Bloomberg)
Zijin has agreed to acquire about $295m of Allied shares, potentially paving the way for further cooperation, including the use of Chinese technology at Allied’s Mali operations.
Verisk ordered to proceed with $2.35bn AccuLynx acquisition. ( Reuters)
Verisk abandoned the transaction in December after an extended FTC review, but the court found its conduct contributed to the failure to meet the closing conditions.
Ashland explores potential sale after takeover interest. ( Bloomberg)
Ashland is exploring a potential sale after receiving takeover interest and is working with Citigroup and Lazard to engage with strategic and financial bidders.
Private equity firms including Advent, Apollo and Carlyle have shown interest, alongside major shareholder Standard Industries.
Switch files confidentially for US IPO. ( Bloomberg)
Switch has confidentially filed for a US IPO as the data center operator seeks to capitalize on growing investor demand for AI infrastructure.
The company could list as early as November and was recently reported to be seeking a valuation approaching $50bn including debt.
Formlabs is in early discussions with potential advisers about an initial public offering that could raise approximately $500m.
The SoftBank-backed 3D printer manufacturer was valued at around $2bn in a 2021 funding round led by SoftBank Vision Fund 2.
Latigo Biotherapeutics raises $346m in upsized US IPO. ( Bloomberg)
Latigo Biotherapeutics has raised $345.6m in an upsized US IPO after pricing 19.2m shares at $18 each, at the top of the marketed range.
The Blue Owl-backed developer of non-opioid pain treatments was valued at about $1.08bn at the IPO price.
BlossomHill Therapeutics raises $150m in upsized US IPO. ( Bloomberg)
BlossomHill Therapeutics has raised $150m in an upsized US IPO after selling 9.38m shares at $16 each, the midpoint of its marketed range.
The Janus Henderson-backed oncology biotech company increased the offering from 7.8m shares and was valued at about $490m at the IPO price.
EMEA
The Peel Group, an infrastructure and property investment company, offered to acquire Harworth Group, a property developer that specialises in regenerating brownfield sites, for £583m ($786m), according to press releases.
Harworth is advised by Barclays (led by Bronson Albery), Peel Hunt (led by Capel Irwin), A&O Shearman and FTI Consulting (led by Dido Laurimore). Peel Group is advised by Rothschild & Co (led by Alex Midgen), Travers Smith and Sodali & Co (led by Rory Godson), according to MergerLinks data and press releases.
Partners Group, a global private equity firm, agreed to acquire a majority stake in AVK Power Solutions, a supplier of innovative power solutions for data centres and AI infrastructure, according to press releases. Financial terms were not disclosed.
AVK is advised by Rothschild & Co. Partners Group is advised by Altman Solon, Ernst & Young, PricewaterhouseCoopers, A&O Shearman, Clifford Chance and Arcadis, according to MergerLinks data and press releases.
Goodwin is in talks to sell its defence business, with several private equity firms having submitted expressions of interest for the UK engineering assets.
The 143-year-old engineering company supplies components for the UK's Dreadnought nuclear submarine programme and has a market value of about £1.4bn (£1.9bn).
DNO has made a £202m ($272m) takeover offer for Genel Energy, which the Kurdistan-focused oil producer rejected, saying the proposal fundamentally undervalued the company.
The Norwegian oil company offered £0.69 ($0.93) per share in cash, while Genel's shares rose after the bid was disclosed.
Russia explores sale of Sheremetyevo airport stake. ( Reuters)
Russian President Vladimir Putin has approved the potential sale of the state's 30.4% stake in Sheremetyevo Airport after removing it from the country's list of strategic enterprises.
The government will retain a controlling "golden share", allowing it to block key management decisions following any sale.
Mike Ashley leads race for Harvey Nichols takeover. ( Sky News)
Frasers Group has emerged as the frontrunner to acquire department store chain Harvey Nichols, with a deal expected to complete as early as next week.
The transaction could involve the business briefly entering administration, although rival bidder Next could still submit a higher offer.
Joseph owner explores potential sale of British fashion brand. ( Sky News)
Onward Kashiyama is exploring a potential sale of Joseph and has appointed PwC to hold discussions with prospective buyers.
The Japanese group acquired the British fashion brand for £140m ($188m) in 2005, while improved recent performance has helped attract buyer interest.
ADNOC hires Michael O'Dwyer as CIO. ( Reuters)
ADNOC has hired Morgan Stanley's global co-head of energy Michael O'Dwyer as chief investment officer as the Abu Dhabi state energy company expands its investment activities.
O'Dwyer joins after working at Morgan Stanley since 2008, as ADNOC pursues acquisitions across gas, chemicals and shipping through its XRG investment arm.
APAC
Danantara, a sovereign investment platform, agreed to acquire a 25% stake in the Australia and New Zealand operations of JBS, a meat processing and food company, for $2.5bn, according to press releases.
JBS is advised by Ernst & Young, De Brauw Blackstone Westbroek and MinterEllison. Danantara is advised by Barrenjoey Capital Partners, Boston Consulting Group, PricewaterhouseCoopers and A&O Shearman, according to press releases.
DeepSeek seeks nearly $8bn in resumed funding round. ( Bloomberg)
DeepSeek has resumed its second funding round, seeking close to $8bn at a valuation of approximately $74bn.
Monolith Management is in talks to participate in the financing after the Chinese AI company paused the fundraising process last month.
Mubadala weighs $6.3bn Japan AI data center investment. ( DealStreetAsia)
Mubadala Investment is considering investing up to JPY1tn ($6.3bn) to develop a 500-megawatt AI data center in Japan’s Akita prefecture.
The project could become Japan’s largest data center and may also attract additional foreign and domestic investors.
PSP Investments explores $1.5bn sale of India roads. ( Bloomberg)
PSP Investments is exploring options for its road assets in India, including a potential sale that could value the portfolio at about $1.5bn including debt.
The assets are held through its global road investment platform Roadis, which also operates road infrastructure across Brazil, Mexico, Spain and the US.
Kirin eyes further North American M&A after Jamieson deal. ( Bloomberg)
The company plans to use Jamieson’s distribution network, brand and customer relationships as a platform for further expansion and potential M&A.
KV Asia weighs exit from Indonesian personal care company. ( DealStreetAsia)
KV Asia Capital is exploring a potential exit from an Indonesian beauty and personal care company, with advisers sounding out prospective buyers for its stake.
Domestic investment firms and global strategic investors have been approached to gauge interest in a potential acquisition.
Fossil Group considers $300m India unit IPO. ( Bloomberg)
Fossil Group is considering an IPO of its India business that could raise as much as $300m and has invited investment banks to pitch for roles on the potential listing.
The US lifestyle accessories company is considering selling up to a 25% stake in Fossil India, with the offering potentially taking place early next year.
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