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AMERICAS
Veritas Capital, a private-equity firm that specializes in national security, information technology and other government-sector investments, agreed to acquire BGIS, a global company specializing in integrated facility management services, from CCMP Capital Advisors, a private equity firm that focuses on making buyout and growth equity investments, and AIMCo, a diversified institutional investment fund manager, according to press releases. Financial terms were not disclosed.
BGIS is advised by BMO Capital Markets, CIBC Capital Markets, Citigroup and TD Securities. Veritas Capital is advised by Gibson Dunn & Crutcher, Milbank and Prosek Partners. CCMP Capital Advisors is advised by Ropes & Gray and ICR Inc (led by Chuck Dohrenwend). AIMCo is advised by Torys, according to press releases.
Ridgemont Equity Partners, a middle market private equity firm, and Coogee Bay Partners, an investment and operating partnership led by Joshua Ellstein and Michael Felman, completed the acquisition of Caring Transitions, a provider of senior move management services and online estate and liquidation services through CTBids, its captive digital marketplace, according to press releases. Financial terms were not disclosed.
Ridgemont Equity Partners and Coogee Bay Partners were advised by Boxwood Partners, Alston & Bird and Greenberg Traurig. Ridgemont Equity Partners was advised by Profile Advisors. Debt financing was provided by Apogem Capital. Caring Transitions was advised by Livingstone Partners, Kohnen & Patton and Katz Sapper & Miller, according to press releases.
An investor consortium including B Capital and CalPERS, agreed to acquire Russell Investments, a global investment solutions provider, from TA Associates, a private equity firm, and Reverence Capital, a private investment firm, according to press releases. Financial terms were not disclosed.
Russell Investments is advised by Moelis & Co and Goodwin. B Capital is advised by Jefferies & Company, Ropes & Gray (led by Ariel Deckelbaum) and Joele Frank (led by Kate Thompson). Reverence Capital is advised by Gladstone Place Partners (led by Michael Landau), according to MergerLinks data and press releases.
Lightyear Capital, a New York-based private equity firm, agreed to invest in Prosperity Partners, a Chicago-based public accounting firm offering tax, accounting, and personal finance services, according to press releases. Financial terms were not disclosed.
Prosperity Partners and Unity Partners are advised by Guggenheim Partners, Koltin Consulting Group and Stanton PRM (led by Trevor Blaisdell). Prosperity Partners is also advised by Kirkland & Ellis. Lightyear Capital is advised by Davis Polk & Wardwell and ThroughCo Communications (led by Elliot Sloane), according to press releases.
Mill Point Capital, a private equity investment company, completed the acquisition of Total Safety Supplies & Solutions, a distributor of industrial maintenance, repair, and operations products, from Total Safety, a global provider of industrial safety services and equipment, according to press releases. Financial terms were not disclosed.
Mill Point Capital was advised by Moelis & Co, Robert W Baird and McDermott Will & Schulte. Total Safety was advised by Jefferies & Company and Troutman Pepper, according to press releases.
Warburg Pincus-led investor group, agreed to acquire a majority stake in PANTHERx Rare, a US-based specialty pharmacy, from Nautic Partners, General Atlantic, and The Vistria Group, the private equity and investment firms. Nautic Partners and management will remain significant shareholders, according to press releases. Financial terms were not disclosed.
Warburg Pincus is advised by JP Morgan and Cleary Gottlieb Steen & Hamilton. PANTHERx Rare is advised by Centerview Partners, Goldman Sachs and Ropes & Gray, according to press releases.
Odyssey Investment Partners, a private equity firm, completes the acquisition of a majority stake in TransPak, a provider of packaging engineering, logistics, testing, and supply chain solutions, serving data center, semiconductor, aerospace and defense, and medical customers, according to press release. Financial terms were not disclosed.
Odyssey Investment Partners was advised by Stifel, Latham & Watkins and Gasthalter & Co (led by Mark Semer). TransPak was advised by Accent Capital Partners and JP Morgan, according to press releases.
Gridiron Capital, a private equity firm, completed the investment in Centroid, a premier Oracle cloud infrastructure service provider, according to press releases. Financial terms were not disclosed.
Gridiron Capital was advised by Moelis & Co, Benesch Friedlander Coplan & Aronoff and Joele Frank (led by Madeline Jones and Erik Carlson). Centroid was advised by Guggenheim Partners and Willkie Farr & Gallagher, according to press releases.
A Blackstone-led consortium, including Apollo and KKR, agreed to acquire a 49% stake in the Power Innovation joint venture of Williams, an American energy company, for $5.34bn, according to press releases.
Blackstone is advised by Morgan Stanley and Kirkland & Ellis. Williams is advised by Citigroup and Davis Polk & Wardwell (led by H. Oliver Smith and Shanu Bajaj), according to press releases.
EQT, a global investment organization, agreed to acquire Copia Power, an integrated power and AI infrastructure platform, from Carlyle, a global investment firm, according to press releases. Financial terms were not disclosed.
Copia Power is advised by Canaccord Genuity. Carlyle is advised by Guggenheim Partners, JP Morgan and Latham & Watkins, according to MergerLinks data and press releases.
CenterGate Capital, a private equity investment firm, completed the investment in Canadian Dental Labs, a manufacturer of dental prosthetics and orthodontic appliances, according to press releases. Financial terms were not disclosed.
CDL was advised by ATB Cormark Capital Markets and BMO Capital Markets. CenterGate Capital was advised by Akerman and Blake Cassels & Graydon (Blakes), according to press releases.
Godspeed Capital-backed Infrastructure Consulting & Engineering, a civil and structural engineering firm, completed the acquisition of Southeastern Land Company, a provider of right-of-way and easement acquisition and project management firm, according to press releases. Financial terms were not disclosed.
Southeastern Land Company was advised by Eide Bailly. Godspeed Capital and Infrastructure Consulting & Engineering were advised by Moore & Van Allen and Gasthalter & Co (led by Alex Jeffrey and Mark Schueler), according to press releases.
Thrust Capital Partners, a buyout private equity firm, completed the acquisition of Alphacasting, a precision titanium and aluminium investment casting company, according to press releases. Financial terms were not disclosed.
Thrust Capital Partners was advised by Norton Rose Fulbright. Alphacasting was advised by MNP Corporate Finance and Spiegel Ryan, according to press releases.
StoneTree Investment Partners, a private equity firm, agreed to invest in Wilbar Group, a manufacturer of aboveground and semi‑inground swimming pools, according to press releases. Financial terms were not disclosed.
Wilbar Group is advised by Capstone Partners. StoneTree Investment Partners is advised by McGuireWoods and Stikeman Elliott, according to press releases.
Pelican Energy Partners, a specialized private equity firm, completed the acquisition of Veridiam, a manufacturer of highly engineered precision components, from Equity Group Investments, a private investment firm, according to press releases. Financial terms were not disclosed.
Pelican Energy Partners was advised by Troutman Pepper Locke. Veridiam was advised by Mayer Brown, according to press releases.
Palm Beach Capital, a private equity firm, agreed to invest in Nelson Worldwide, a national architecture and design firm, according to press releases. Financial terms were not disclosed.
Palm Beach Capital is advised by Greenberg Traurig and Taft Stettinius & Hollister, according to press releases.
KKR agreed to acquire a 51% stake in the Global Print business of Thomson Reuters, a content and technology company serving professional markets, for $500m, according to press release.
Thomson Reuters is advised by Centerview Partners, according to MergerLinks data and press releases.
Leica Biosystems, an operating company of Danaher and a global provider of anatomic pathology solutions, agreed to acquire StatLab, a developer and manufacturer of medical diagnostic supplies and equipment, from Linden Capital Partners and Audax, a private equity firms, according to press releases. Financial terms were not disclosed.
StatLab is advised by Moelis & Co, according to MergerLinks data.
AE Industrial, a private investment firm, completed the acquisition of Powder Alloy, a manufacturer of high-performance metal powders and advanced alloy materials, according to press releases. Financial terms were not disclosed.
AE Industrial was advised by Stanton PRM (led by Matthew Conroy), according to press releases.
Toyota, a Japanese multinational automotive manufacturer, and Deviation Capital, an early-stage venture capital firm, led a $300m funding round in Walden Robotics, a full-stack physical AI company building and deploying general-purpose robots, with participation from NVIDIA, Boeing, AE Ventures, Samsung Ventures, Prologis Ventures, CoreWeave Ventures, Calibrate Ventures, Colle Capital, Shine Capital, NextView Ventures, Squarepoint Capital, One Madison Group, KAS Venture Partners, Menlo Ventures and others, according to press releases.
Walden Robotics was advised by COMMAND Public Relations (led by Chelsea Allison), according to press releases.
Motorola Solutions, a public safety and enterprise security technology company, led a $125m round in BRINC, a safety drone technology company, with participation from Index Ventures and Dylan Field, according to press release.
Motorola Solutions was advised by Joele Frank, according to MergerLinks data and press releases.
HPS Investment Partners to invest $500m in Glenfarne Group-backed Texas LNG, an energy company developing a 4m-tonnes-per-year liquefied natural gas export terminal at the Port of Brownsville, TX, according to press releases.
GroundForce Capital, a private equity firm, completed the investment in Rock River Laboratory, an independent agricultural testing platform in North America, according to press releases. Financial terms were not disclosed.
Index Ventures, Kleiner Perkins, Sequoia Capital and Dimension, the venture capital firms, led a $400m Series C round in Chai Discovery, an AI-driven drug development company, with participation from Bain Capital Ventures, Battery Ventures, Baillie Gifford, BDT & MSD, Sapphire Ventures, Avra Capital, Thrive Capital, OpenAI, Oak HC/FT, Menlo Ventures, General Catalyst, Glade Brook, Avenir, Lachy Groom, and Yosemite, according to press releases.
Venture capital firms B Capital, Redpoint Ace, Goodwater Capital, and DCM, led a $60m Series B round in Kaon AI, generative AI platform and research lab pioneering the next era of interactive entertainment.
Warburg Pincus near over $7bn deal for Pantherx Rare. ( WSJ)
Warburg Pincus is nearing an agreement to acquire specialty pharmacy company Pantherx Rare in a transaction valued at more than $7bn including debt. The company specializes in dispensing therapies for patients with rare and complex diseases.
Pantherx Rare has been owned by a consortium of investors including General Atlantic since 2022. The deal would rank among the larger healthcare private‑equity transactions of 2026, highlighting continued investor interest in specialty healthcare services and pharmaceutical distribution assets.
Seidler Equity is looking to sell stake in 139-year-old baseball gear maker Rawlings. ( Bloomberg)
Seidler Equity Partners is exploring a sale of its stake in Rawlings Sporting Goods Co., the baseball equipment manufacturer it co‑owns with Major League Baseball.
The private‑equity firm is working with advisers to gauge investor interest in the company. Rawlings could be valued at about $2bn, including debt, in a potential transaction.
Stripe, Advent offer to buy PayPal for more than $53bn. ( Reuters)
Stripe and Advent International have submitted a joint offer to acquire PayPal for $60.50 per share, valuing the payments company at more than $53bn. The proposal is backed by about $50bn in committed financing and represents a premium of roughly 28% to PayPal’s share price before news of the bid emerged.
The offer follows an initial approach made in April and envisions Stripe and Advent jointly owning PayPal with equal stakes. Discussions remain ongoing, and there is no certainty the proposal will result in a transaction.
Francisco nears $1.3bn deal for Thoma Bravo-backed construction software maker Command Alkon. ( Bloomberg)
Francisco Partners is in advanced discussions to acquire a controlling stake in construction software provider Command Alkon in a deal that could value the company at up to $1.3bn. The transaction would underscore continued investor interest in sector-focused software businesses.
Hedge fund Elliott builds stake in car-insurance software firm CCC. ( Bloomberg)
Elliott Investment Management has built a large stake in car-insurance software provider CCC Intelligent Solutions, which has been exploring a potential sale.
The engagement is being led by investors from Elliott's private equity business. The size of Elliott's investment was not disclosed.
HarbourVest raises $4.75bn for seventh direct co-investment programme. ( Press Release)
HarbourVest Partners held the final close of its Co-Investment Fund VII with $4.75bn in commitments, exceeding its $4bn target.
The fund focuses on co-investments across buyout and growth equity strategies, including a dedicated $500m+ sleeve targeting AI and healthcare innovation.
Warren Equity Partners closes Fund V at hard cap with approximately $2.8bn in commitments. ( Press Release)
Warren Equity Partners has closed Fund V with approximately $2.8bn in commitments, exceeding its $2.25bn target and reaching its hard cap. The fund was oversubscribed and attracted backing from more than 60 institutional investors, including pension funds, insurers, endowments, foundations, and family offices.
Fund V will continue Warren Equity’s strategy of investing in infrastructure solutions businesses across sectors such as power and utilities, water, transportation, waste, digital infrastructure, and facilities services. The fund has already completed its first platform investment, USG Water Solutions, and will pursue growth through operational improvements and add-on acquisitions.
Citation Capital closes inaugural fund with $1.2bn in total commitments. ( Press Release)
Citation Capital has closed its inaugural fund, Citation Fund I, with $1.1bn in third‑party limited partner commitments. Including commitments from the firm and affiliated investors, the fund has total investable capital of $1.2bn.
The fund attracted commitments from a range of institutional investors, including pension funds, sovereign wealth funds, insurance companies, endowments, foundations and family offices.
Greylock raises $1.5bn fund for early stage startups. ( Bloomberg)
Greylock has raised its eighteenth venture capital fund, securing $1.5bn to back early-stage technology companies as investment in artificial intelligence continues to accelerate. The new vehicle reflects the firm's conviction that the next generation of high-growth businesses is still emerging.
The 61-year-old Silicon Valley investor expects AI-driven innovation to remain a major source of new company creation, building on its long history of backing technology startups.
EMEA
Ardian to acquire a majority stake in Munich Electrification.
Ardian, a global private investment firm, agreed to acquire a majority stake in Munich Electrification, a Germany-based developer of battery management systems, electronics and software for electric mobility, according to press releases. Financial terms were not disclosed.
Ardian is advised by PricewaterhouseCoopers, Kearney, LSJ.Advisory, Milbank, Willkie Farr & Gallagher, Taxess, FEV Consulting and Headland Consultancy. Munich Electrification is advised by JP Morgan, Bird & Bird, Sullivan & Cromwell and Grant Thornton, according to press releases.
Warburg Pincus to invest $130m in Oxylabs.
Warburg Pincus, a global growth‑focused investment platform, agreed to invest $130m in Oxylabs, a data infrastructure company serving AI, agentic systems, and enterprise customers, according to press releases.
Warburg Pincus is advised by Lazard, Freshfields, Latham & Watkins, and Sorainen. Oxylabs is advised by Goldman Sachs, Norton Rose Fulbright, Tegos (Ex TGS Baltic), Deloitte, and FTI Consulting (led by Christina Dell’Orto), according to press releases.
MSA Safety, a global manufacturer and supplier of safety equipment, completed the acquisition of Autronica Fire and Security, a designer, manufacturer, and supplier of fire detection, gas detection, and alarm systems, from Sentinel-backed Spectrum Safety Solutions, a system distributor providing fire safety, building automation, and security solutions, for $555m, according to press releases.
Autronica Fire and Security was advised by JP Morgan. MSA Safety was advised by Bank of America and Sidley Austin. Sentinel was advised by Citigroup, JP Morgan, CMS Legal (led by Johan Svedberg), Kirkland & Ellis, and Broadgate Consultants (led by Roland Tomforde), according to press releases and MergerLinks data.
Lloyds Banking Group-owned LDC, a private equity firm, completed the investment in Brady Solicitors, a specialist property management law firm, according to press releases. Financial terms were not disclosed.
Investment Management Corporation of Ontario, an independent, not-for-profit asset manager, and GCM Grosvenor, an American alternative asset management firm, agreed to acquire a 25% stake in TIP Group, a pan-European provider of transportation equipment leasing, rental and repair services, from I Squared Capital, a private equity firm, according to press releases. Financial terms were not disclosed.
Investment Management Corporation of Ontario is advised by Simmons & Simmons and Torys. GCM Grosvenor is advised by Hogan Lovells Cadwalader and H/Advisors (led by Abigail Ruck). I Squared Capital is advised by UBS, JP Morgan and Simpson Thacher & Bartlett, according to press releases.
Bridgepoint, a UK-based private equity firm, agreed to acquire a majority stake in UMag Solutions, a provider of drone-based magnetic surveying solutions, according to press releases. Financial terms were not disclosed.
Bridgepoint is advised by Oliver Wyman, Ernst & Young, Evercore and BAHR. UMag Solutions is advised by PricewaterhouseCoopers and Plesner, according to press releases.
Inflexion, a private equity firm, agreed to acquire Primed Group, a provider of medical consumables and sterilisation services, from Paragon Partners, a DACH-focused private equity firm, according to press release. Financial terms were not disclosed.
IDI-backed Groupe PLC, a French cosmetics and nutraceutical CDMO, completed the acquisition of Floralpina, a French specialist in dry-form food supplements, from Stags, a private equity firm, according to press release. Financial terms were not disclosed.
SSW Partners, a New York-based investment firm, agreed to acquire 6 businesses of Delivery Hero, a delivery platform operating food, grocery, and on‑demand delivery marketplaces for $1.6bn, according to press releases.
SSW Partners is advised by Evercore, Baker Botts, Gibson Dunn & Crutcher, Hengeler Mueller and Paul Weiss Rifkind Wharton & Garrison, according to press releases.
TriCarbs BidCo, a consortium formed by Triton Fund VI, Bolero Holdings, Patrick Comer and Brett Schnittlich, completed the acquisition of 93% stake in Cint Group, a research and measurement technology, for SEK1.312bn ($136.17m), according to press releases.
Cint Group was advised by DNB Carnegie Investment Bank. Tritin Partners was advised by SEB Corporate Finance and Linklaters (led by Charlotte Levin and Rasmus Kindlund). Bolero was advised by Vinge, according to press releases.
Atlas Holdings-backed Stryten Energy, a US-based manufacturer of advanced energy storage solutions, agreed to acquire C&D Technologies, a global technology company that manufactures industrial batteries and electronics for power conversion and storage, and Trojan Battery Company, a global manufacturer of deep-cycle batteries, from KPS Capital Partners, a New York-based private equity firm, according to press releases. Financial terms were not disclosed.
Atlas Holdings and Stryten Energy are advised by Paul Hastings. KPS Capital Partners, C&D Technologies and Trojan Battery Company are advised by Paul Weiss Rifkind Wharton & Garrison and Jefferies & Company, according to press releases.
Shimadzu, an industrial and testing equipment manufacturer, completed the acquisition of Tescan Group, a manufacturer of scanning electron microscopes, from Carlyle, a global investment firm, for $678m, according to press releases.
Shimadzu was advised by Mitsubishi UFJ Morgan Stanley Securities and Clifford Chance (led by Natsuko Sugihara). Carlyle was advised by JP Morgan, according to MergerLinks data and press releases.
SHS Capital, a private equity firm, agreed to acquire a majority stake in Basic Pharma, a Netherlands-based pharmaceutical developer and full-service CDMO, from private equity firms BVP, Particon and Jacques Havermans, according to press releases. Financial terms were not disclosed.
Basic Pharma is advised by Van Lanschot Kempen (led by Jan De Kerpel) and AKD. SHS Capital is advised by DeBreij, according to MergerLinks data and press releases.
HIG Capital-backed OB Streem, an integrated logistics and supply chain services provider, completed the acquisition of Med Frigo, a temperature-controlled logistics and cold-chain transportation provider, according to press releases. Financial terms were not disclosed.
New and existing investors, including Dragoneer Investment Group, Lightspeed Venture Partners, Disruptive, Iconiq, Growth Equity at Goldman Sachs Alternatives, JPMorgan Chase, CPP Investments, General Catalyst, Plural, Stepstone, Prima Materia, Accel and Greenoaks, participated in a $1.8bn Series E funding round in Helsing, a European defense technology startup, according to press releases.
PE fund Harith gets antitrust approval to acquire FlySafair. (Bloomberg)
The Competition Commission has recommended that the Competition Tribunal approve the transaction, with the deal now awaiting the final regulatory decision.
EasyJet backs rival £5.7bn Apollo bid as takeover battle brews. ( Press Release)
Apollo Global Management launched a £5.7bn ($7.7bn) bid for easyJet at £7.15 ($9.58) per share, trumping a rival offer from Castlelake and setting up a potential takeover battle for one of Europe's biggest airlines.
EasyJet's board backed Apollo's proposal, withdrawing support for Castlelake's £6.90($9.25)-per-share offer, which the parties had agreed in principle only days earlier.
KKR, Apax said to bid for $2bn Portuguese firm Logoplaste. ( Bloomberg)
KKR and Apax Partners have submitted non-binding offers for Portuguese packaging manufacturer Logoplaste, joining the race to acquire one of Europe’s largest producers of rigid plastic packaging.
The company is expected to hold discussions with selected bidders before inviting a smaller group to submit binding offers. Deliberations are ongoing, and no final decision has been made.
DCC gets sweetened bid from KKR, ECP after drawn-out talks. ( Bloomberg)
KKR and Energy Capital Partners have increased their takeover proposal for DCC to more than £5.7bn ($7.7bn).
The consortium is maintaining its offer of £66.72 ($89.8) per share, including a dividend, while shareholders could receive an additional up to £1.25 ($1.68) per share if DCC generates at least $800m from the sale of its technology distribution business Nexora. The bidders have also secured additional time to continue negotiations on the drawn-out takeover process.
Italy's Recordati says board finds CVC, GBL offer 'fair' as independent directors dissent. ( Reuters)
Recordati said a majority of its board has deemed fair the €51.29 ($58.80) per share take-private offer from CVC Capital Partners and Groupe Bruxelles Lambert.
Six of the board's ten directors supported the offer, while four independent directors concluded that the bid was inadequate and not fair, highlighting a split in the board's assessment of the proposed transaction.
Qiagen draws early takeover interest from EQT, Advent and KKR. (Bloomberg)
European molecular testing company Qiagen is drawing early takeover interest from private equity firms including EQT, Advent and KKR.
The company could attract further buyout firms as well as strategic players.
Qatar blocks defense joint venture between VW and Rafael. ( Bloomberg)
The Qatar Investment Authority has vetoed plans for a cooperation between Volkswagen and Israeli defense company Rafael Advanced Defense Systems, meant to save hundreds of jobs at a VW factory site in Osnabrueck.
QIA, which owns more than 10% of VW shares and 17% of the voting rights, blocked a proposal to create a joint venture to make air defense systems at the struggling factory.
Andera Partners announces a record €430m fundraise for Andera Expansion. ( Press Release)
Andera Partners has closed Andera Expansion IV at €430m ($481m), exceeding both its initial target and original €350m ($400m) hard cap, which was increased twice in response to strong investor demand. The fundraising marks a record for the firm's expansion strategy and follows the €250m ($285m) predecessor fund raised in 2021.
The fund will continue Andera Expansion’s strategy of investing in primary growth LBOs focused on niche industries and B2B services, with a strong emphasis on buy‑and‑build acquisitions. More than 30% of commitments came from international investors, while the firm plans to expand its investment focus beyond France and Belgium into Italy and Spain as part of its broader European growth strategy.
Pictet raises $253m for first environment co-investment fund. ( Press Release)
Pictet Alternative Advisors has completed the final close of its Environment Co-Investment Fund I, raising $253m in commitments and exceeding its $200m target. The firm's first dedicated environmental co-investment fund reflects continued investor demand for private market opportunities focused on sustainability.
Around half of the fund has already been deployed across eight investments. The strategy will back environmental businesses alongside private equity managers, focusing on areas including greenhouse gas reduction, pollution control, the circular economy, sustainable consumer products, and enabling technologies.
APAC
A group of investors led a $439m Series C round in PixVerse.
A group of investors, including Alibaba, Lollapalooza Capital, Ivy Capital, Grand Mount Capital, Eastern Bell Capital, Mirae Asset, BlueFocus, CloudAlpha, iGlobe Partners and LionX Ventures, led a $439m Series C round in PixVerse, a global AI video generation platform, according to press releases.
Shanghai Pudong Leading Area Investment Center and Shanghai Puxing Collaborative Private Equity Fund Partnership Enterprise led a $55m Series D round in Drug Farm.
Shanghai Pudong Leading Area Investment Center, a state-backed investment and private equity firm, and Shanghai Puxing Collaborative Private Equity Fund Partnership Enterprise, a Chinese investment firm, led a $55m Series D round in Drug Farm, a biotechnology company, with participation from Tukar Capital, Fuzhou Xinhe Fund, Shenzhen Luohu Donghai Chempartner Investment Fund, Keyuan Pharma, BioVeda China Fund, YD Capital, Jiashan State VC, Detong Capital, Wedo Capital and Biometas, according to press releases.
Tencent leads deal to unwind Meta's $2bn Manus acquisition. ( FT)
Tencent is in talks to become the largest shareholder of Manus as investors race to unwind Meta's $2bn acquisition of the AI agent startup after Beijing ordered the deal be reversed.
Most of Manus's former investors, including Tencent, ZhenFund and HSG, as well as the company's management, are discussing backing a deal to unwind the acquisition at the same $2bn valuation.
EQT returns with higher $1.75bn bid in push for Australia's Perpetual. ( Reuters)
Perpetual has received a revised non-binding takeover proposal from Windflower, a company indirectly controlled by Swedish private equity firm EQT, valuing the Australian asset manager at about AUD2.5bn ($1.74bn). The latest offer of AUD22.07 ($15.35) per share represents a 2% increase over EQT’s previous proposal.
SBI Funds IPO anchor book draws Capital Group, BlackRock, Goldman, GIC. ( Bloomberg)
SBI Funds Management attracted strong demand from global institutional investors in the anchor tranche of its IPO, with participants including Capital Group, BlackRock, Fidelity Investments, Goldman Sachs Asset Management, Abu Dhabi Investment Authority (ADIA), GIC, and Norges Bank Investment Management. The anchor book was reportedly subscribed more than 20 times ahead of the offering.
The IPO also drew significant interest from Indian mutual funds and insurance companies, highlighting broad investor appetite for the asset manager. Strong demand from both international and domestic institutions provides momentum for what is expected to be one of the most closely watched listings in India’s financial services sector.
EQT raises offer price for Kakaku.com above bid by LY and Bain. ( Bloomberg)
EQT has increased its tender offer price for Kakaku.com, intensifying the bidding contest with LY Corporation and Bain Capital.
EQT raised its offer to approximately JPY3.44k–JPY3.46k ($0.0212-$0.0213) per share, up from JPY3k ($0.019), surpassing the JPY3.384k ($0.0209) per share bid from LY and Bain. EQT also extended the tender offer period to the end of the month from July 22.
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