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AMERICAS

NVentures, Bill Gates and HD Hyundai led a $650m funding round in TerraPower.

NVentures, Bill Gates and HD Hyundai led a $650m funding round in TerraPower, a nuclear innovation company, according to press releases.

TerraPower was advised by UBS, according to press releases.

Duration Capital Partners completes a $600m investment in Watco Companies.

Duration Capital Partners, an infrastructure investment firm, completed a $600m investment in Watco Companies, a transportation service and logistics company, according to press releases.

Watco Companies was advised by Morgan Stanley, according to MergerLinks data.

Huron to acquire Eclipse Insights.

Huron, a global professional services firm, agreed to acquire Eclipse Insights, a revenue cycle consulting firm dedicated to helping healthcare organizations maximize revenue and improve cash flow, according to press releases. Financial terms were not disclosed.

Huron is advised by Skadden Arps Slate Meagher & Flom (led by Shilpi Gupta), according to MergerLinks data.

Ascendion completes the acquisition of Moodys Northwest Consulting.

Ascendion, an AI-powered software engineering company, completed the acquisition of Moodys Northwest Consulting, a product strategy and transformation firm, according to press releases. Financial terms were not disclosed.

Moodys was advised by Canaccord Genuity, according to press releases.

Mark Walter to acquire Los Angeles Lakers for $10bn.

Mark Walter, an American businessman, agreed to acquire the Los Angeles Lakers, a basketball club, for $10bn.

IVP led a $101m Series C round in Tennr.

Institutional Venture Partners, a venture capital firm, led a $101m Series C round in Tennr, an intelligent automation platform for healthcare operations, with participation from Andreessen Horowitz, Lightspeed, GV, ICONIQ, Foundation Capital, and Frank Slootman, according to press releases.

Baker Tilly to acquire Sockeye.

Baker Tilly, an advisory, tax and assurance firm, offered to acquire Sockeye, a Sage Intacct partner, according to press releases. Financial terms were not disclosed.

Ares Management completes the acquisition of a minority stake in SailGP.

Ares Management, an alternative investment manager, completed the acquisition of a minority stake in SailGP, an international sailing competition, according to press releases. Financial terms were not disclosed.

TDK completes the acquisition of SoftEye.

TDK, an electronic components company, completed the acquisition of SoftEye, a US-based systems solution company developing custom chips, cameras, software and algorithms for use in smart glasses, according to press releases. Financial terms were not disclosed.

Trivest Partners-backed ASA Safety Supply completes the acquisition of OccuFit.

Trivest Partners-backed ASA Safety Supply, a safety equipment supplier in Georgia, completed the acquisition of OccuFit, a provider of on-site occupational health screening and compliance services, according to press releases. Financial terms were not disclosed.

Microsoft may walk away from OpenAI negotiations over unresolved stake terms. (Financial Times)

Microsoft is reportedly prepared to halt ongoing negotiations with OpenAI amid disagreements over future ownership terms. Talks have centered on issues such as the scale of Microsoft's future stake in OpenAI.

The reported impasse follows broader discussions about the evolving structure of OpenAI’s governance and Microsoft’s role as both an investor and strategic partner.

Totvs eyes Brazil M&A beyond Linx deal rules out asset sales. (Reuters)

Brazilian software firm Totvs is actively exploring additional acquisitions in 2025 alongside its ongoing talks to acquire Linx from StoneCo. The company has clarified it does not plan to divest assets to fund these deals, signaling a strong balance sheet and confidence in its expansion strategy.

Totvs has pursued Linx since losing a 2020 bidding war to StoneCo, which acquired the retail software provider for BRL6.7bn ($1.22bn).

Caris Life Sciences valued at $7.7bn after a 29% surge in Nasdaq debut. (Reuters)

Caris Life Sciences saw its shares rise nearly 29% in its Nasdaq debut, closing with a market valuation of $7.66bn. The cancer diagnostics firm priced its IPO at $21 per share and raised $494m by selling 23.5m shares, with the stock opening at $27 on June 18.

The successful listing highlights renewed investor interest in healthcare and biotech IPOs in 2025. Caris specializes in molecular profiling to guide precision cancer treatments, a space gaining momentum as oncology advances drive clinical and commercial demand.

EMEA

Synova Capital to invest in Bishop Fleming.

Synova Capital, an innovative growth and private equity investor, agreed to invest in Bishop Fleming, an award-winning tax practice, according to press releases. Financial terms were not disclosed.

Bishop Fleming is advised by Alantra (led by Richard Holden), according to press releases.

Recommerce Group completes the acquisition of Verkaufen.ch.

Recommerce Group, a European player in refurbished high-tech products, completed the acquisition of Verkaufen.ch, a Swiss provider in consumer device buyback, forward trade-in, and repair services for high-tech products, according to press releases. Financial terms were not disclosed.

Recommerce was advised by Lenz & Staehelin (led by Daniel Schafer), according to MergerLinks data.

Dai Nippon Printing completes a majority investment in Enlightenment Capital-backed Laxton.

Dai Nippon Printing, a printing company, completed a majority investment in Enlightenment Capital-backed Laxton, a biometric identity solutions provider, according to press releases. Financial terms were not disclosed.

Laxton was advised by DC Advisory (led by Michael Mariaz), according to MergerLinks data.

Access Biotechnology led a $140m funding round in Draig Therapeutics.

Access Biotechnology, the corporate venture arm of Access Industries, led a $140m funding round in Draig Therapeutics, a clinical-stage company aiming to transform the treatment of neuropsychiatric diseases, with participation from Canaan Partners, SR One, Sanofi Ventures, Schroders Capital, ICG and SV Health Investors, according to press releases.

Saint-Gobain to acquire Maturix.

Saint-Gobain, a French multinational industrial corporation, agreed to acquire Maturix, a provider of real-time monitoring solutions for the concrete industry, according to press releases. Financial terms were not disclosed.

Macquarie to acquire stakes in Bristol, Birmingham and London City Airports.

Macquarie Asset Management, a global asset manager, integrated across public and private markets, agreed to acquire stakes in Bristol, Birmingham and London City Airports, according to press releases. Financial terms were not disclosed.

Frasers Group drops plan to acquire Revolution Beauty. (Reuters)

Frasers Group announced it will not proceed with a takeover offer for Revolution Beauty, ending speculation over a potential acquisition. The decision comes weeks after Frasers had indicated interest in a cash bid for the struggling cosmetics company, which launched a sale process in May due to continued weak performance.

Revolution Beauty has faced ongoing commercial and operational challenges, leading to interest from multiple parties including Mike Ashley’s retail group.

Campari family’s Lagfin to acquire 20% stake in PE firm Bluegem. (Bloomberg)

Lagfin, the investment vehicle of the Garavoglia family that controls Davide-Campari Milano, is close to acquiring a 20% minority stake in Bluegem Capital Partners, a private equity firm focused on consumer brands. The transaction reflects the family’s strategic push into asset management and private equity participation.

In addition to the equity stake, Lagfin is also in discussions to become an anchor investor in Bluegem’s next fund. The investment aligns with both groups’ focus on consumer-driven sectors and could deepen collaboration on deal origination and portfolio development.

Barclays and Santander explore bids for Sabadell’s UK unit TSB. (Bloomberg)

Barclays and Banco Santander are among the potential buyers evaluating offers for TSB, the UK banking arm of Spain’s Banco Sabadell. Both banks are reportedly in early-stage discussions and exploring separate bids as Sabadell assesses interest in the asset.

Sabadell recently acknowledged receiving expressions of interest in TSB and is open to a sale, which could strengthen its position as it resists a hostile takeover attempt from BBVA. TSB, acquired by Sabadell in 2015, remains one of its most prominent international holdings.

APAC

United Risk completes the acquisition of Pinnacle Underwriting.

United Risk, a property and casualty insurance underwriting and distribution platform, completed the acquisition of Pinnacle Underwriting, a specialty facultative reinsurance MGA, according to press releases. Financial terms were not disclosed.

Pinnacle Underwriting was advised by Insurance Advisory Partners and Ashurst. United Risk was advised by Clyde & Co, according to press releases.

ShawKwei & Partners-backed Liberty Energy Solutions completes the acquisition of PEC for $160m.

ShawKwei & Partners-backed Liberty Energy Solutions, an energy engineering solutions and proprietary products provider, completed the acquisition of PEC, a provider of maintenance and integrated EPC services, for $160m, according to press releases.

Chevron seeks buyers for 50% stake in Singapore Refining Company. (Reuters)

Chevron is exploring the sale of its 50% stake in Singapore Refining Company and has invited non-binding bids, including from its joint venture partner PetroChina. The potential divestment reflects the US oil major's broader review of its downstream asset portfolio across Asia.

In addition to its SRC stake, Chevron is also assessing buyer interest for terminal and fuel storage facilities located in Australia and the Philippines. The asset review comes amid efforts to optimize operations and reallocate capital to other parts of its global business.

Grab-GoTo merger talks stall amid Indonesian regulatory pushback. (Reuters)

Grab’s plan to acquire Indonesian rival GoTo has encountered regulatory challenges in Indonesia.The deal, which could value GoTo at around $7bn, aimed to consolidate Southeast Asia’s ride-hailing and food delivery sectors under one dominant platform.

While Grab has hired advisers and had initially targeted a second-quarter timeline, Indonesian authorities have raised concerns about competition and market concentration. These regulatory headwinds now cast uncertainty over the proposed merger’s path forward and timing.

LG Electronics considers relaunching India unit IPO as early as Q4. (Bloomberg)

LG Electronics is evaluating plans to revive the IPO of its Indian subsidiary, with a possible filing of an updated prospectus expected by September. The offering, if pursued, could occur as early as the fourth quarter following the release of refreshed financials.

The South Korean firm had previously delayed the listing due to market conditions but is now assessing timing amid improving investor sentiment. The move would offer LG a path to unlock value in a key growth market while raising capital for strategic initiatives.

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