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AMERICAS

Carlyle Group and SK Capital Partners completes the acquisition of bluebird bio for $96m.

Private equity firms Carlyle Group and SK Capital Partners, completed the acquisition of bluebird bio, a biotechnology company specializing in gene therapies, for $96m, according to press releases.

The Carlyle Group was advised by Bourne Partners, Kirkland & Ellis, Orrick Herrington & Sutcliffe, Wachtell Lipton Rosen & Katz (led by Mark Stagliano), according to press releases.

Swander Pace Capital completes the acquisition of Maple Donuts.

Swander Pace Capital, a private equity firm, completed the acquisition of Maple Donuts, a manufacturer of branded and private-label donut products, according to press releases. Financial terms were not disclosed.

Maple Donuts was advised by Alantra and Stradley Ronon Stevens & Young. Swander Pace Capital was advised by Jones Day and Gregory FCA, according to press releases.

Innovex completes the acquisition of Citadel Casing Solutions.

Innovex, a company that specializes in developing and manufacturing technology solutions for various industries, completed the acquisition of Citadel Casing Solutions, an oil field equipment supplier, according to press releases. Financial terms were not disclosed.

Citadel Casing Solutions was advised by Piper Sandler and Troutman Pepper. Innovex was advised by Akin Gump Strauss Hauer & Feld, according to press releases.

Cactus to acquire a 65% stake in surface pressure control business from Baker Hughes for $345m.

Cactus, a manufacturer of pressure control equipment for the oil and gas industry, agreed to acquire a 65% stake in surface pressure control business from Baker Hughes, an energy technology company, for $345m, according to press releases.

Cactus is advised by Piper Sandler and Bracewell, according to press releases.

Sanofi to acquire Blueprint Medicines for $9.1bn.

Sanofi, a French multinational pharmaceutical and healthcare company, agreed to acquire Blueprint Medicines, a US-based, publicly traded biopharmaceutical company, for $9.1bn, according to press releases.

Blueprint Medicines is advised by Jefferies & Company, according to MergerLinks data.

TP ICAP to acquire a 70% stake in Neptune Networks.

TP ICAP, a provider of financial markets infrastructure, agreed to acquire a 70% stake in Neptune Networks, a financial data company, according to press releases. Financial terms were not disclosed.

UK's Rosebank Industries revives plans to buy US-based ECI for under $1.9bn. (Reuters)

British investment firm Rosebank Industries has resumed negotiations to acquire US-based Electrical Components International (ECI) in a deal valued at under $1.9bn.

The London-listed firm, known for acquiring and improving businesses ahead of resale, initially entered talks in February but paused the process in March due to political uncertainty and volatility in equity markets.

Earlier this year, shifting US trade policies and tariff reversals under President Donald Trump had unsettled global investors. Rosebank said the full terms of the proposed transaction remain confidential.

ASX-listed James Hardie secures $3.5bn credit to fund AZEK deal. (Reuters)

James Hardie, the ASX-listed fibre-cement manufacturer, has secured $3.5bn in new senior credit facilities with participation from 30 banks. The funding supports its operations and the proposed acquisition of US-listed artificial decking maker AZEK.

The credit arrangement includes a $1bn revolving credit facility and a $2.5bn senior secured term loan A, divided into two tranches. In March, James Hardie made an $8.75bn offer for AZEK amid concerns over a potential slowdown in the US housing market.

Following the arrangement, bridge facility commitments tied to the acquisition were reduced from $4.3bn to $1.7bn.

JetBlue not pursuing merger with United Airlines. (Reuters)

JetBlue Airways CEO Joanna Geraghty said the airline’s new partnership with United Airlines does not signal a path toward a merger between the two carriers.

The collaboration, announced last week, enables travelers to book flights across both airlines’ websites and earn or redeem points within their respective frequent flyer programs.

Digital banking startup Chime targets $11.2bn valuation in US IPO. (Reuters)

Chime Financial is aiming for a valuation of up to $11.2bn in its long-anticipated initial public offering in New York, marking what could become the largest US listing since the implementation of recent tariffs under President Donald Trump.

The San Francisco-based digital banking platform and some existing shareholders plan to raise as much as $832m through the sale of 32m shares, priced between $24 and $26 each. Chime will offer 25.9m shares, while backers including Cathay Innovation are offering 6.1m shares.

Antares closes $1.2bn private credit continuation vehicle led by Ares Management. (Press Release)

Antares Capital and Ares Management Corporation have closed Antares’ first continuation vehicle, securing over $1.2bn in commitments. The transaction was led by Ares Credit Secondaries funds, alongside a commitment from Antares.

The newly formed vehicle acquired assets and limited partner interests from two commingled private credit funds, encompassing more than 100 first-lien, floating-rate loans originated and managed by Antares. The structure offers liquidity to existing investors and access to high-quality private credit assets for new participants.

EMEA

Kontoor Brands completes the acquisition of Helly Hansen from Canadian Tire Corporation for $900m.

Kontoor Brands, a global lifestyle apparel company, completed the acquisition of Helly Hansen, a global outdoor and workwear brand, from Canadian Tire Corporation, a retail company, for $900m, according to press releases.

Kantoor Brands was advised by Morgan Stanley, Dentons, Foley & Lardner and Alston & Bird (led by Stuart Rogers), according to press releases.

Evergreen Hill completes the acquisition of TANN Group from Mayr-Melnhof Karton for €360m.

Evergreen Hill, a strategic investor specializing in the acquisition and management of specialty paper businesses, completed the acquisition of TANN Group, a global supplier of tipping paper for the cigarette industry, from Mayr-Melnhof Karton, a producer of cartonboard and folding cartons, for €360m, according to press releases.

Mayr-Melnhof Karton was advised by UniCredit, according to press releases and MergerLinks data.

Aksa Akrilik to acquire 50% stake in DowAksa from Dow for $125m.

Aksa Akrilik, a Turkish company manufacturing carbon fiber, natural white and solution dyed acrylic staple fiber, agreed to acquire 50% stake in DowAksa, a carbon fiber manufacturer, from Dow, a materials science company, primarily producing and selling chemicals and plastics, for $125m, according to press releases.

Dow is advised by BNP Paribas, according to press releases.

Anta Sports completes the acquisition of Jack Wolfskin from Topgolf Callaway.

Anta Sports, a Chinese sports equipment multinational corporation, completed the acquisition of Jack Wolfskin, a German outdoor brand, from Topgolf Callaway, an American global sports equipment manufacturing company, according to press releases. Finanacial terms were not disclosed.

Poland's PZU and Pekao plan potential $27bn merger. (Reuters)

Polish state-controlled insurer PZU and lender Pekao announced plans to merge in a deal that would form a financial group valued at over PLN100bn ($26.9bn).

The potential transaction would mark the largest financial sector merger in Europe in the past year, based on data from LSEG. It also reflects growing momentum for consolidation in Poland’s banking industry, where expectations for further tie-ups have intensified.

French state makes an offer to buy part of Atos' former advanced computing unit. (Reuters)

The French state has made a €410m ($466.3m) confirmatory offer to buy part of the former advanced computing business of tech company Atos, the company announced on June 2.

Once seen as a European tech champion with a market value exceeding €10bn at its peak, Atos emerged from financial troubles in 2024 through a restructuring agreement with creditors. The French state's offer values the former advanced computing business at €410m on an enterprise value basis.

Buyout firm EQT revs up £500m bid for World Rally promoter. (Sky News)

Private equity firm EQT Partners is considering a bid for WRC Promoter, the commercial arm behind the World Rally Championship, as a long-anticipated auction gets underway.

The business, valued at close to £500m ($672.6m), is jointly owned by Austrian beverage giant Red Bull and German investment firm KW25. JPMorgan has been mandated to manage the sale process.

Nordic Capital pushes Noba Bank's IPO into second half of the year. (Bloomberg)

Nordic Capital has postponed the initial public offering of consumer finance provider Noba Bank, citing market volatility.

The firm emphasized its intent to list the company under more favorable conditions to support strong aftermarket performance.

APAC

NinjaOne completes the acquisition of Dropsuite for $252m.

NinjaOne, an automated endpoint management platform, completed the acquisition of Dropsuite, a cloud data backup, archiving, and recovery solutions provider, for $252m, according to press releases.

Dropsuite was advised by Canaccord Genuity and Herbert Smith Freehills. NinjaOne was advised by Gilbert + Tobi and Goodwin Procter, according to press releases.

Prime Infra to acquire a 60% of the gas assets from First Gen for $896m.

Prime Infra, an infrastructure developer, agreed to acquire a 60% of the gas assets from First Gen, a provider of renewable and low-carbon power, for $896m, according to press releases.

KKR to invest $600m in MEMG.

KKR, an investment firm, agreed to invest $600m in MEMG, a diversified conglomerate, according to press releases.

M&G and Lightspeed Venture Partners led a $114m series G investment in Udaan.

M&G, a global investment manager, and Lightspeed Venture Partners, a private equity firm, led a $114m series G round in Udaan, a B2B trade platform, according to press releases.

EWCL to invest $70m in Cango.

EWCL, a wealth management company, agreed to invest $70m in Cango, a technology company, according to press releases.

Soul Patts, Brickworks join after decades of cross-ownership. (Bloomberg)

Washington H. Soul Pattinson and Brickworks have agreed to merge, resolving a nearly 60-year-old cross-shareholding structure between the two Australian companies.

Soul Patts holds a 43% stake in Brickworks, while the brickmaker owns 26% of Soul Patts. The arrangement was originally designed to ensure stable dividend flows through cyclical downturns in the construction sector.

Telkom Indonesia is said to weigh sale of health-care firm AdMedika. (Bloomberg)

PT Telekomunikasi Indonesia is exploring a potential sale of its health-care subsidiary AdMedika and is seeking at least $100m from the transaction.

The company is working with an adviser and has begun sounding out interest from potential buyers for PT Administrasi Medika, as part of its broader portfolio review.

Bain-backed group seeks $454m loan for winemaker Vinarchy. (Bloomberg)

Australian Wine Holdco, a consortium including Bain Capital and Sona Asset Management, is seeking AUD700m ($454m) in financing to support winemaker Vinarchy, formed through the merger of Accolade Wines and Pernod Ricard’s former wine business.

Commonwealth Bank of Australia has underwritten the three-year syndicated loan, which includes term and revolving credit tranches. The bank is inviting other lenders to join the deal.

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