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Top Highlights
Biogen, an American multinational biotechnology company, completed the acquisition of Apellis, a global biotechnology company focused on developing targeted C3 therapies for complement-driven diseases, for $5.6bn, according to press releases.
Biogen was advised by Lazard, Arnold & Porter Kaye Scholer, Cravath Swaine & Moore (led by Aaron M. Gruber, Bethany A. Pfalzgraf and Ryan J. Wichtowski) and FGS Global. Lazard was advised by Ropes & Gray. Apellis was advised by Evercore, Wachtell Lipton Rosen & Katz (led by Adam Emmerich, Ronald Chen, Victor Goldfeld and Raeesa Munshi), WilmerHale (led by Hal Leibowitz, Andrew Bonnes, Stuart M. Falber and Jeffries L. Oliver-Li) and Joele Frank. Evercore was advised by Sullivan & Cromwell (led by Stephen M. Kotran), according to press releases and MergerLinks data.
Oak Hill Capital, New Mountain Capital and HarbourVest Partners, the private equity firms, completed the investment in IMA Financial Group, a global alternative asset manager, lender and corporate advisory firm, at a $4bn valuation, according to press releases.
Oak Hill Capital was advised by William Blair & Co and Paul Weiss Rifkind Wharton & Garrison. New Mountain Capital was advised by Jefferies & Company and Ropes & Gray (led by Dee Kuchukulla and Garrett Charon). IMA Financial Group was advised by Ardea Partners, Houlihan Lokey, Reagan Consulting, Sidley Austin and Center Reach Communications (led by Jessica Poulalier), according to press releases and MergerLinks data.
AMERICAS
Wispr AI in funding talks at $2bn valuation. ( Bloomberg)
Blackstone REIT raises $1.75bn in IPO for data center acquisitions. ( Bloomberg)
EagleRock raises $320m in US IPO. ( Reuters)
EMEA
Ingredion in talks to acquire Tate & Lyle in $3.7bn deal. ( WSJ)
ITV remains in active talks to sell media unit to Sky. ( Reuters)
Caltagirone raises concerns over possible Monte dei Paschi-Banco BPM merger. ( Reuters)
Caltagirone says Monte dei Paschi should retain Generali stake. ( Reuters)
Airbus and Blackstone to join €600m Quantum Systems funding round. ( Bloomberg)
Oman India Fertiliser explores IPO at more than $2.5bn valuation. ( Bloomberg)
Gens Aurea explores up to €500m Milan IPO. ( Bloomberg)
APAC
Xpeng in talks with Volkswagen over potential European factory deal. ( FT)
DayOne considers upsizing funding round to more than $4bn. ( Bloomberg)
Adtek explores Hong Kong IPO at $4bn valuation. ( Bloomberg)
Manipal Hospitals to begin marketing $1bn IPO. ( Bloomberg)
Bagmane REIT set for Mumbai debut after $360m IPO. ( Bloomberg)
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COMPANIES
FINANCIAL ADVISORS
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AMERICAS
Sumitomo Forestry, a Japanese logging and processing company, completed the acquisition of Tri Pointe Homes, a US homebuilder, for $4.5bn, according to press releases.
NEC, a company specializing in information technology and network solutions, completed the acquisition of CSG Systems International, a US-based provider of SaaS billing and customer experience solutions, for $2.9bn, according to press releases.
Sunstone Partners, a growth-oriented private equity firm, completed the investment in Peloton Consulting Group, a management consulting and professional services firm, according to press releases. Financial terms were not disclosed.
Sunstone Partners was advised by Houlihan Lokey, BrightTower (led by Remy Lundy and Sam Barthelme) and Choate Hall & Stewart. Debt financing was provided by Crescent Capital Group. Peloton Consulting Group was advised by Guggenheim Partners and Cooley, according to press releases and MergerLinks data.
MS&AD Insurance, a Japanese insurance company, completed the acquisition of an 18% stake in Barings, an insurance services company, from MassMutual, an American life insurance company, for $1.44bn, according to press releases.
Iridium, a global satellite communications provider, agreed to acquire the remaining 61% stake in Aireon, a developer of space-based air traffic surveillance systems, from NAV CANADA, AirNav Ireland, ENAV, NATS and Naviair, the aviation companies, for $366.7m, according to press releases.
Iridium is advised by Evercore, Cooley and Milbank. Aireon is advised by PJT Partners and Hogan Lovells, according to press releases.
Eight Directions Technology, a packaging solutions provider, agreed to go public via SPAC merger with Quartzsea Acquisition Corporation, a special purpose acquisition company, at a $515m valuation, according to press releases. Financial terms were not disclosed.
Eight Directions Technology is advised by Chain Stone Capital and Pryor Cashman. Quartzsea Acquisition Corporation is advised by Celine & Partners and Ogier, according to press releases.
Clean Harbors, a provider of environmental and industrial services, completed the acquisition of Terra Nova Solutions, a provider of waste management services, for $225m, according to press releases.
Clean Harbors was advised by Davis Malm & D'Agostine. Terra Nova Solutions was advised by Raymond James and Willkie Farr & Gallagher, according to press releases.
Cohen & Co, an accounting and business advisory firm, agreed to acquire Gordon Advisors, an accounting and business consulting firm, according to press releases. Financial terms were not disclosed.
Cohen & Co is advised by Calfee Halter & Griswold. Gordon Advisors is advised by Plunkett Cooney, according to press releases.
Kleiner Perkins, an American venture capital firm, led a $400m funding round in Mind Robotics, a technology company focused on intelligent robotics for industrial deployment, with participation from Meritech Capital, Redpoint Ventures, SV Angel, Incharge Capital, A-Star Capital, Garuda Ventures, Accel, Andreessen Horowitz, Eclipse, Prysm Capital, Bain Capital Ventures, and Greenoaks, according to press releases.
SPARX, an independent asset management and investment holding company, led a $150m Series C funding round in Oishii, a US‑based vertical farming company that produces premium strawberries, with participation from Nomura Real Estate Development, MISUMI Group, Mizuho Bank and others, according to press releases.
Fiserv, a global fintech and payments company, and Bridgeport Partners, a New York-based private equity and investment firm, agreed to form a joint venture, to combine their ATM and cash services businesses and drive growth, according to press releases. Financial terms were not disclosed.
Main Capital Partners, a private equity firm, completed the acquisition of a majority stake in Agenium, an insurance technology platform focused on digitizing and optimizing the end-to-end application, according to press releases. Financial terms were not disclosed.
Wispr AI in funding talks at $2bn valuation. ( Bloomberg)
Wispr AI is in talks to raise about $260m in a new funding round that could value the AI dictation startup at $2bn.
Menlo Ventures is expected to lead the financing for the developer of the Wispr Flow voice dictation tool.
Blackstone REIT raises $1.75bn in IPO for data center acquisitions. ( Bloomberg)
Blackstone Digital Infrastructure Trust has raised $1.75bn in a US IPO as investor demand for AI infrastructure assets remains strong.
The REIT plans to acquire leased data center properties benefiting from growing artificial intelligence spending.
EagleRock raises $320m in US IPO. ( Reuters)
EagleRock has raised about $320m in its US IPO after pricing shares at the midpoint of the marketed range.
The company manages land and resource assets in the Permian Basin and generates royalties and fees from oil and gas production.
EMEA
Saica Group, a European manufacturer of sustainable paper and corrugated packaging, agreed to acquire Thimm Group, a German-based manufacturer of sustainable packaging, according to press releases. Financial terms were not disclosed.
Siemens Mobility, a provider of rail transportation solutions, agreed to acquire several key businesses of MERMEC, an Italy‑based provider of rail inspection, diagnostics, and data infrastructure solutions, according to press releases. Financial terms were not disclosed.
Siemens is advised by Morgan Stanley, according to MergerLinks data.
Ingredion in talks to acquire Tate & Lyle in $3.7bn deal. ( WSJ)
Tate & Lyle stated that it has received a £2.74bn ($3.71bn) takeover proposal from US peer Ingredion and that the companies are in discussions over a potential transaction.
The proposed offer includes £5.95 ($8.1) per share in cash and up to £0.20 ($0.27) in dividends, representing a 64% premium to Tate & Lyle’s closing share price.
ITV remains in active talks to sell media unit to Sky. ( Reuters)
ITV stated that it remains in active discussions to sell its media and entertainment division to Comcast-owned Sky in a deal valued at about £1.6bn ($2.16bn).
The broadcaster also forecast stronger advertising revenue tied to the upcoming World Cup.
Caltagirone raises concerns over possible Monte dei Paschi-Banco BPM merger. ( Reuters)
Investor Francesco Gaetano Caltagirone said a potential merger between Monte dei Paschi di Siena and Banco BPM could weaken the Tuscan lender and risk Italian savings.
Comments come amid renewed market speculation over a long-discussed combination between the two banks.
Caltagirone says Monte dei Paschi should retain Generali stake. ( Reuters)
Investor Francesco Gaetano Caltagirone stated that Monte dei Paschi should not sell its stake in insurer Generali.
The comments follow remarks from MPS management that the bank was not necessarily tied to its Generali holding.
Airbus and Blackstone to join €600m Quantum Systems funding round. ( Bloomberg)
Airbus and Blackstone are in talks to participate in a roughly €600m ($703m) funding round for German drone startup Quantum Systems.
The round could value the Peter Thiel-backed company at as much as €7bn ($8.2bn), with existing investor Balderton Capital also considering participation.
Oman India Fertiliser explores IPO at more than $2.5bn valuation. ( Bloomberg)
Oman India Fertiliser is considering an IPO at a valuation of at least $2.5bn in what could become one of the Middle East’s largest listings since the regional conflict began.
The offering could launch as early as June and may see existing shareholders sell a combined 25% stake.
Gens Aurea explores up to €500m Milan IPO. ( Bloomberg)
Gold dealer Gens Aurea is preparing a potential Milan IPO that could raise between €300m ($352m) and €500m ($586m) in what may become the city’s largest listing in three years.
The offering could launch in the coming months and is expected to consist solely of existing shareholder sales.
APAC
ENEOS Holdings, a Japanese global petroleum and metals conglomerate, agreed to acquire the downstream fuels and lubricants marketing businesses of Chevron, an integrated energy company, for $2.17bn, according to press releases.
Chevron is advised by Mitsubishi UFJ Morgan Stanley Securities, according to MergerLinks data.
Xpeng in talks with Volkswagen over potential European factory deal. ( FT)
Xpeng is in discussions with Volkswagen and other carmakers about potentially acquiring a factory in Europe as it looks to expand international sales.
DayOne considers upsizing funding round to more than $4bn. ( Bloomberg)
DayOne Data Centers is considering increasing its Series C funding round to more than $4bn amid strong investor demand for AI infrastructure assets.
The expanded round would be about twice the size of the company’s previous January closing and is expected to be led largely by existing investors.
Adtek explores Hong Kong IPO at $4bn valuation. ( Bloomberg)
Shenzhen Adtek Technology is considering a Hong Kong IPO as demand for AI and data center-related listings continues to grow.
The company is working with Citic Securities and Jefferies on the potential offering, which could value the business at about $4bn.
Manipal Hospitals to begin marketing $1bn IPO. ( Bloomberg)
Manipal Health Enterprises is set to begin formal investor marketing for its planned IPO, which could raise more than $1bn.
The Temasek-backed hospital operator is targeting a valuation of about $12bn as it prepares meetings with domestic and international investors.
Bagmane REIT set for Mumbai debut after $360m IPO. ( Bloomberg)
Blackstone-backed Bagmane Prime Office REIT is set to begin trading in Mumbai after raising INR34.05bn ($360m) in its IPO.
The offering was subscribed 23 times, highlighting strong investor demand for yield-generating assets despite cautious sentiment in India’s equity markets.
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