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AMERICAS

ClinActiv completes the acquisition of Crescita Therapeutics for $14.8m.

ClinActiv, a global dermatology and consumer health platform focused on building science-driven products and businesses, completed the acquisition of Crescita Therapeutics, a Canadian commercial dermatology company with in-house R&D and manufacturing capabilities, for $14.8m, according to press releases.

ClinActiv was advised by Bennett Jones. Crescita Therapeutics was advised by Bloom Burton, BCF Business Law and Goodmans, according to press releases.

Brand Velocity Group completes the acquisition of RCX Sports from Raine Group.

Brand Velocity Group, a diversified investment platform, completed the acquisition of RCX Sports, a youth sports and event management company, from Raine Group, a global merchant bank, according to press releases. Financial terms were not disclosed.

Brand Velocity Group was advised by CohnReznick and Sidley Austin. RCX Sports was advised by The Raine Group and Orrick Herrington & Sutcliffe, according to press releases.

Saothair Capital Partners completes the acquisition of Engineered Absorbent Materials from Domtar.

Saothair Capital Partners, a private equity firm, completed the acquisition of Engineered Absorbent Materials, a manufacturer of engineered absorbent materials and disposable absorbent cores, from Domtar, a diversified forest products manufacturer, according to press releases. Financial terms were not disclosed.

Saothair Capital Partners was advised by McGuireWoods. Domtar was advised by BMO Capital Markets and Troutman Pepper Locke, according to press releases.

WestView Capital Partners completes the investment in Helio Health Group.

WestView Capital Partners, a private equity firm that focuses on growth-oriented companies, completed the investment in Helio Health Group, a provider of compliance-focused professional services and AI-enabled technology for pharmaceutical and medical device companies, according to press releases. Financial terms were not disclosed.

Helio Health Group was advised by Simpson Thacher & Bartlett (led by Andrew P. Alin and Daisy Wu). WestView Capital Partners wasadvised by Latham & Watkins, according to press releases and MergerLinks data.

AE Industrial Partners-backed Air Transport Components completes the acquisition of Aero Controls.

AE Industrial Partners-backed Air Transport Components, an aerospace services provider, completed the acquisition of Aero Controls, a provider of specialized, precision-engineered component MRO services, according to press releases. Financial terms were not disclosed.

Aero Controls was advised by XLCS Partners. AE Industrial Partners was advised by Stanton PRM (led by Matthew Conroy), according to press releases.

Constellation Software-owned CORA Group completes the acquisition of US mid-market banking business of Finastra.

Constellation Software-owned CORA Group, a company acquiring, strengthening and growing software firms, completed the acquisition of US mid-market banking business of Finastra, a financial software company, according to press releases. Financial terms were not disclosed.

Finastra was advised by PJT Partners and Kirkland & Ellis, according to press releases.

Azara Healthcare completes the acquisition of Advocatia.

Azara Healthcare, a healthcare technology company that provides population health and value-based care analytics solutions, completed the acquisition of Advocatia, a company that offers an end-to-end digital platform for screening eligibility and enrolling individuals into public benefit programs, according to press releases. Financial terms were not disclosed.

Advocatia was advised by OM Partners. Azara Healthcare was advised by Innsena Communications, according to press releases.

Mobix Labs to acquire Vision Aerial.

Mobix Labs, a manufacturer of semiconductors, agreed to acquire Vision Aerial, a manufacturer of drones, according to press releases. Financial terms were not disclosed.

Mobix Labs is advised by Catalyst Global (led by Chris Eddy and David Collins), according to press releases.

Harbourfront Wealth Group completes the acquisition of Cumberland Private Wealth.

Harbourfront Wealth Group, an independent wealth advisory and investment management group, completed the acquisition of Cumberland Private Wealth, a provider of comprehensive wealth management and fiduciary advisory services, according to press releases. Financial terms were not disclosed.

Harbourfront Wealth Group was advised by Magnolia Marketing Communications (led by Nikky Saini), according to press releases.

Obsidian Point Partners completes the acquisition of Indiana Earth.

Obsidian Point Partners, an investment vehicle, completed the acquisition of Indiana Earth, a construction and site development company. Upon completion of the transaction, Halifax West will acquire a minority stake in Indiana Earth, according to press releases. Financial terms were not disclosed.

Obsidian Point Partners was advised by Halifax West, according to press releases.

AI data center parts maker Xnrgy said to mull $10bn sale. (Bloomberg)

The owners of Xnrgy Climate Systems are exploring strategic options, including a potential sale that could value the company at up to $10bn.

The Montreal‑based manufacturer of heating and cooling systems for data centers is working with advisers as part of the review process.

Destination XL gains after pausing merger with FullBeauty Brands. (Press Release)

Destination XL Group has paused its pending merger with FullBeauty Brands as the companies reassess the transaction.

The parties are evaluating next steps following the suspension of the process, with the merger no longer proceeding on its original timeline. Shares in Destination XL rose by 2.3% following the announcement.

Applied Aerospace shares drop 5% after $650m IPO. (Bloomberg)

Applied Aerospace & Defense fell about 5% on its first day of trading after raising roughly $650m in an initial public offering priced near the top of the marketed range.

The Huntsville, Alabama‑based company’s shares closed at $19.01, below the IPO price of $20, following the sale of 32.5m shares priced within a range of $18 to $21.

Blackstone-Backed Liftoff raises $437m in revived US IPO. (Bloomberg)

Liftoff Mobile has raised $437m in a US initial public offering that priced above its marketed range in the company’s second attempt to go public in 2026.

The Blackstone‑backed company sold 19m shares at $23 each, above the initial range of $20 to $22, after withdrawing a previous listing attempt earlier in 2026.

Sunshine Silver Mining raises $270m in US IPO. (Reuters)

Sunshine Silver Mining & Refining Company has raised $270m in its US initial public offering, joining a broader wave of listings.

The Idaho‑based company sold 20m shares at $13.50 each, pricing at the lower end of its indicated range.

Anthropic picks Morgan Stanley, Goldman Sachs to lead IPO. (Bloomberg)

Anthropic is preparing for an initial public offering and has engaged banks to lead the transaction.

Morgan Stanley and Goldman Sachs are expected to take leading roles on the IPO, with JP Morgan also participating in the process.

McKesson unit prices $2.25bn leveraged loan ahead of IPO. (Bloomberg)

A $2.25bn leveraged loan for McKesson’s medical‑surgical unit has been priced ahead of its planned initial public offering.

The six‑year debt was issued at 99.5 cents on the dollar with a margin of 2.25 percentage points above the benchmark rate. Pricing was tightened during syndication as demand strengthened.

Lila Sciences said in talks for funds at $8.5bn valuation. (Bloomberg)

Lila Sciences, an artificial‑intelligence research startup, is in discussions to raise about $2bn in a Series B funding round at a pre‑money valuation of approximately $8.5bn.

The financing is expected to include participation from institutional investors and strategic backers, with proceeds intended to support further development of the company’s AI technologies.

Uber's commitment to self-driving startup Nuro is close to $500m. (Reuters)

Uber Technologies has committed close to $500m to self‑driving startup Nuro, marking a significant investment in the development of autonomous‑vehicle technology and commercial robotaxis.

The funding comes as activity in the robotaxi sector accelerates, with several technology and automotive companies advancing development, testing and early‑stage deployment of autonomous driving systems.

EMEA

Harbor completes the acquisition of CE Global Partners.

Harbor, a provider of professional and technology services to the legal industry, completed the acquisition of CE Global Partners, a specialist firm in Human Resources transformation, payroll transformation, and people-process change, according to press releases. Financial terms were not disclosed.

Harbor was advised by Limelight (led by Erin Harrison), according to press releases.

3i Group completes the investment in Nutergia.

3i Group, a private equity firm, completed the investment in Nutergia, a manufacturer of dietary supplements and micronutrition products for consumers and professional channels, according to press releases. Financial terms were not disclosed.

Nutergia was advised by Houlihan Lokey, according to press releases and MergerLinks data.

Bill Ackman’s Pershing exits €1.4bn Universal Music stake. (Bloomberg)

Bill Ackman has sold his €1.42bn ($1.65bn) stake in Universal Music Group shortly after the company rejected his takeover approach.

The shares were placed through an overnight transaction, with Pershing Square selling about 80.6m shares at €17.66 ($20.5) each.

US investor Castlelake taps shipper MSC for potential easyJet bid. (Reuters)

Castlelake is evaluating a potential takeover of easyJet and is exploring a consortium structure that could include Mediterranean Shipping Company as a partner.

The UK‑listed airline’s shares rose about 2.3% in early trading and have gained roughly 15% since the emergence of takeover interest. No formal offer has been made, and discussions remain at an early stage.

Glazer family members debate Manchester United stake sale. (Bloomberg)

Members of the Glazer family are assessing options for their stake in Manchester United Football Club after more than two decades of ownership.

Internal discussions have focused on the possibility of selling part or all of the holding, with some family members considering a divestment and seeking broader support for a transaction.

Commerzbank asks German regulator to review UniCredit offer support levels. (WSJ)

Commerzbank is reviewing support levels for UniCredit to increase its stake in the German lender beyond 30%, escalating tensions between the two banks as takeover discussions intensify.

UniCredit has secured commitments to support a higher stake as part of a transaction valued at about €24bn ($27.8bn) for the portion it does not already own. Commerzbank has also engaged with Germany’s financial regulator as the process moves forward.

Danone CEO says no interest in purchasing Reckitt's Mead Johnson unit. (SeekingAlpha)

Danone has indicated it has no interest in acquiring Reckitt Benckiser’s Mead Johnson infant‑nutrition unit as speculation around a potential divestment continues.

The French food group has ruled out pursuing the business, which has been under review by Reckitt as part of its portfolio optimization efforts, limiting the pool of potential buyers for the asset.

Power equipment firm Innio’s backers raise $2.43bn in IPO. (Bloomberg)

Innio Holding’s major shareholders have raised $2.43bn in an upsized initial public offering priced at the top of the range.

The Munich‑based company sold 90m shares at $27 each, above the initially marketed 75m shares at a range of $24 to $27. The sale was conducted on behalf of existing investors including Advent and the Abu Dhabi Investment Authority.

APAC

Sitecore completes the acquisition of Scrunch.

Sitecore, a Denmark-based private software company, completed the acquisition of Scrunch, an AI customer experience and analytics platform, according to press releases. Financial terms were not disclosed.

Sitecore was advised by Joele Frank (led by Tom Crosson), according to press releases.

Evergreen Services Group completes the acquisition of OSIT.

Evergreen Services Group, an investment company that focuses on investing in a start-up technology companies, completed the acquisition of OSIT, a provider of managed IT and cybersecurity services, according to press releases. Financial terms were not disclosed.

Evergreen Services Group was advised by WhiteFox Marketing, according to press releases.

SoftBank-backed PayPay to acquire a 70.2% stake in T&D Financial Life from T&D Holdings for $840m.

SoftBank-backed PayPay, a Japan‑based fintech company, agreed to acquire a 70.2% stake in T&D Financial Life, a Japan‑based life insurance provider, from T&D Holdings, a holding company, for $840m, according to press releases.

MMC Port is said to approach bidders for potential stake sale. (Bloomberg)

MMC Port, controlled by Malaysian tycoon Syed Mokhtar Al‑Bukhary, is exploring a sale of a minority stake in the business following the postponement of a planned initial public offering in 2025.

The company has approached potential investors, including regional corporates and infrastructure funds, to assess interest in a transaction. The business could be valued at more than $10bn, with discussions at an early stage.

Fuji Media’s real estate unit attracts JPY1tn bids. (Bloomberg)

Fuji Media Holdings has attracted strong interest for the potential sale of its real estate subsidiary Sankei Building, with bidders including global private equity firms and financial institutions.

More than 15 parties submitted offers last month, with several bids exceeding JPY1tn ($6.3bn), significantly above earlier valuation expectations of JPY500bn ($3.1bn) to JPY800bn ($5bn) for the business.

Funds, industry buyers eye BlackRock’s Australian battery builder Akaysha. (Bloomberg)

Akaysha Energy, an Australian battery storage developer backed by BlackRock, is attracting interest from industry players and institutional investors in a potential sale of a 50–60% stake.

The company is engaging with prospective bidders and may also consider a full sale. Discussions remain at an early stage and no transaction has been agreed.

BofA is hiring Avendus deal maker Gupta for India role in major post-Mizuho exit. (Bloomberg)

Bank of America is hiring Anshul Gupta from Avendus Capital to lead its investment banking business in India.

The appointment reflects efforts by the US lender to strengthen its dealmaking presence in one of the world’s fastest‑growing major economies.

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