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AMERICAS

Prysmian to acquire Atkore for $3.8bn.

Prysmian, a company specializing in transmission and storage systems, agreed to acquire Atkore, a manufacturer and supplier of electrical infrastructure and cable management products, for $3.8bn, according to press releases.

Prysmian is advised by Morgan Stanley and Wachtell Lipton Rosen & Katz (led by Adam Emmerich and Ahsan M. Barkatullah). Atkore is advised by Citigroup, JP Morgan, Debevoise & Plimpton and Joele Frank, according to press releases and MergerLinks data.

San Mateo Midstream completes the acquisition of the operating subsidiaries of EnCap Flatrock Midstream-owned Cardinal Midstream Partners for $752m.

San Mateo Midstream, a provider of midstream energy infrastructure services, completed the acquisition of the operating subsidiaries of EnCap Flatrock Midstream-owned Cardinal Midstream Partners, an energy company engaging in natural gas and crude oil gathering, compression, processing, and condensate stabilization, for $752m, according to press releases.

San Mateo Midstream was advised by Baker Botts (led by Preston Bernhisel), O'Melveny & Myers (led by Jason A. Schumacher) and Kekst CNC (led by Daniel Yunger). EnCap Flatrock Midstream was advised by FGS Global (led by Kelly Kimberly). Cardinal Midstream Partners was advised by Willkie Farr & Gallagher (led by Nathan Meredith), according to press releases and MergerLinks data.

McNally Capital completes the acquisition of a majority stake in TENICA.

McNally Capital, a private investment firm, completed the acquisition of a majority stake in TENICA, a provider of national security, defense, cybersecurity, and information technology services, according to press releases. Financial terms were not disclosed.

McNally Capital was advised by Ropes & Gray, Venable and Prosek Partners. TENICA was advised by The McLean Group and PilieroMazza, according to press releases.

Danone and Arcor form a joint venture.

Danone, a French multinational food-products corporation, and Arcor, a multinational company with three business divisions of consumer food products, packaging, and agribusiness, formed a joint venture focused on the Argentine dairy market, according to press releases. Financial terms were not disclosed.

Arcor was advised by Bruchou & Funes de Rioja (led by Mariano Luchetti). Danone was advised by Centerview Partners (led by Pierre Pasqual), Finanzas & Gestión (led by Patricio Rotman and Alberto Lagos Marmol) and Marval O'Farrell & Mairal (led by Barbara Ramperti), according to MergerLinks data and press releases.

Brookfield completes the acquisition of the remaining 26% stake in Oaktree for $3bn.

Brookfield, an alternative asset management company, completed the acquisition of the remaining 26% stake in Oaktree, an investment firm, for $3bn, according to press releases.

Oaktree was advised by Simpson Thacher & Bartlett (led by Elizabeth Cooper and Matthew Rogers) and FGS Global (led by John Christiansen). Brookfield was advised by Weil Gotshal and Manges (led by Amanda Fenster and Matthew Gilroy) and Brunswick Group (led by Jonathan Doorley), according to MergerLinks data and press releases.

Hancock Whitney completes the acquisition of One Florida Bank for $378m.

Hancock Whitney, an American bank holding company, completed the acquisition of One Florida Bank, a Florida-focused, relationship-based bank, for $378m, according to press releases.

One Florida Bank was advised by Piper Sandler (led by Scott Clark) and Smith Mackinnon. Hancock Whitney was advised by Raymond James (led by Tom Heath) and Wachtell Lipton Rosen & Katz (led by Nicholas G. Demmo), according to MergerLinks data and press releases.

Galera Therapeutics merges with Obsidian Therapeutics.

Galera Therapeutics, a clinical-stage biopharmaceutical company focused on advancing a pan-NOS inhibitor, merged with Obsidian Therapeutics, a clinical-stage biopharmaceutical company harnessing novel protein-regulation technology, according to press releases. Financial terms were not disclosed.

Galera Therapeutics was advised by Lucid Capital Markets and Sidley Austin. Obsidian Therapeutics was advised by Leerink Partners and Goodwin, according to press releases.

American Family Insurance to acquire Bowhead Specialty in a $1.2bn deal.

American Family Insurance, a private mutual company, agreed to acquire Bowhead Specialty, a specialty insurance company, in a $1.2bn deal, according to press releases.

Bowhead Specialty is advised by Ardea Partners and Skadden Arps Slate Meagher & Flom (led by Todd Freed), according to MergerLinks data and press releases.

Itochu to acquire a 50% stake in Aviation Capital Group from Tokyo Century for $1.95bn.

Itochu, a general trading and investment company, agreed to acquire a 50% stake in Aviation Capital Group, an aircraft leasing company, from Tokyo Century, a financial services company, for $1.95bn, according to press releases.

Tokyo Century is advised by UBS, according to MergerLinks data.

Visa to acquire BioCatch for $2.4bn.

Visa, a multinational payment card services corporation, agreed to acquire BioCatch, a provider of behavioral-first, multi-signal fraud intelligence, for $2.4bn, according to press releases.

Ribbit, Addition, Valor Equity Partners, and JP Morgan led a $1bn Series D round in Base Power.

Ribbit, Addition, Valor Equity Partners, and JP Morgan, investment firms, led a $1bn Series D round in Base Power, an energy technology company providing residential battery storage systems, with participation from Altimeter, D1 Capital Partners, Sands Capital, Coatue, Layer Global, Energy Impact Partners, Thrive Capital, a16z, Lightspeed, Trust Ventures and CapitalG, according to press releases.

AstraZeneca holds talks with Bristol Myers Squibb over $400bn tie-up. (FT)

AstraZeneca has held discussions with Bristol Myers Squibb about a combination that would create a pharmaceutical group valued at nearly $400bn. AstraZeneca has a market capitalisation of about $264bn, while Bristol Myers Squibb is valued at roughly $133bn.

The potential transaction would likely involve both cash and shares, although its structure has not been finalised and talks could be delayed or collapse. A combination would create the world’s fourth-largest listed drugmaker and face significant political and antitrust scrutiny, particularly because of overlaps between the companies’ oncology portfolios.

Non-opioid painkiller maker Latigo seeks $288m in US IPO. (SEC Announcement)

Latigo Biotherapeutics is seeking to raise up to $288m in a US IPO. The Blue Owl Capital-backed biotech plans to offer 16m shares at between $16 and $18 each.

The clinical-stage company develops non-opioid treatments for acute and chronic pain, aiming to provide alternatives to traditional opioid-based therapies.

Janus Henderson-backed BlossomHill seeks $133m in IPO. (SEC Announcement)

BlossomHill Therapeutics is seeking to raise about $133m in a US IPO. The cancer-focused biotech plans to offer 7.8m shares at between $15 and $17 each.

The San Diego-based company develops targeted cancer therapies and would be valued at approximately $494m at the top of the proposed range.

EMEA

Mastercard completes the acquisition of BVNK for $1.8bn.

Mastercard, a multinational financial services corporation that provides payment processing services, completed the acquisition of BVNK, a fintech company that provides a global payments platform specializing in stablecoin transactions, for $1.8bn, according to press releases.

BVNK was advised by Qatalyst Partners (led by Peter Spofforth) and Skadden Arps Slate Meagher & Flom (led by Denis Klimentchenko). Mastercard was advised by Citigroup, Davis Polk & Wardwell (led by Brian Wolfe) and Wilson Sonsini Goodrich & Rosati (led by Cédric Burton), according to MergerLinks data and press releases.

Klesch Group completes the acquisition of the Gelsenkirchen refinery and related businesses of bp.

Klesch Group, a Geneva-based industrial firm and independent refiner, completed the acquisition of the Gelsenkirchen refinery and related businesses of bp, an oil and petrochemicals company, according to press releases. Financial terms were not disclosed.

Klesch Group was advised by Morgan Stanley, Clifford Chance (led by Joerg Rhiel) and FTI Consulting. bp was advised by Linklaters (led by Mario Pofahl and Maximilian Mann), according to press releases and MergerLinks data.

RWS to acquire Acolad.

RWS, a global provider of AI‑enabled language, content, and intellectual property solutions, agreed to acquire Acolad, a provider of a full suite of content and language solutions, services, and technology, according to press releases. Financial terms were not disclosed.

Monte dei Paschi explores Banco BPM takeover after merger talks collapse. (FT)

Monte dei Paschi di Siena is considering a takeover of Banco BPM after discussions over a merger of equals between the two Italian lenders broke down. MPS chief executive Luigi Lovaglio is weighing an approach to Banco BPM’s largest shareholder, Crédit Agricole, which owns 29.3% of the bank.

A transaction could be structured as a share-based merger, allowing Crédit Agricole to roll its stake into the combined group and reducing the need for cash. Any deal would require agreement on valuation, governance and commercial arrangements, as well as shareholder approval because MPS remains subject to Italy’s passivity rule during Intesa Sanpaolo’s €30.6bn ($35.2bn) hostile bid.

EasyJet aligns Apollo and Castlelake deadlines as bidding war nears climax. (Reuters)

EasyJet has extended Castlelake’s deadline to submit a firm takeover offer to August 7, bringing it into line with Apollo Global Management’s existing deadline. Both bidders must either formalise their proposals or withdraw by the end of the week.

EasyJet backed Apollo’s £5.7bn ($7.68bn) proposal in July 2026 after it surpassed Castlelake’s earlier £5.5bn ($7.41bn) bid. The airline has provided due diligence access to both parties as the competing approaches enter their final stage.

Belgian-based Sereni clinches £200m takeover of UK’s third-largest funeral services group. (Sky News)

Belgian funeral services provider Sereni is set to acquire Funeral Partners from Montagu Private Equity in a deal worth about £200m ($264m). The transaction is expected to be announced this week and would give Sereni a significant position in the UK market.

Funeral Partners operates more than 300 funeral homes and handles over 20k funerals annually. Sereni already has operations in Belgium, Germany and Poland, while Funeral Partners ranks behind only Co-op Funeralcare and Dignity in the UK.

Beer dynasty families sell €731m stake in AB InBev. (Bloomberg)

Members of the founding families behind Anheuser-Busch InBev have sold about 10m shares in the brewer through a block trade worth €731m ($843m).

The shares were placed at €73.10 ($84.30) each, representing a 2.8% discount to the previous closing price. AB InBev’s shares fell as much as 2.5% following the transaction.

Vanessa Gold agrees provisional sale of 25% West Ham stake to Staveley-led consortium. (Press Release)

Vanessa Gold has reached a provisional agreement to sell her 25% stake in West Ham United to a consortium led by PCP Capital Partners’ Amanda Staveley and Mehrdad Ghodoussi, alongside Ashland Forest Capital Partners. The stake is reportedly valued at £150m ($202m).

The transaction remains subject to West Ham’s pre-emption process, which allows existing shareholders to acquire their proportional entitlement and then any remaining shares. The process is expected to take about two months, with the club’s ownership structure unchanged until it is completed.

APAC

Maybank to acquire a 30.95% stake in Maybank Ageas Holdings Berhad from Ageas for €1.1bn.

Maybank, a financial services group, agreed to acquire a 30.95% stake in Maybank Ageas Holdings Berhad, a provider of life and general insurance, from Ageas, an international insurance group, for €1.1bn ($1.27bn), according to press releases.

Huaxin Building Materials to acquire a 67.62% stake in the Philippines arm of Holcim for $527m.

Huaxin Building Materials, a company that manufactures building materials, agreed to acquire a 67.62% stake in the Philippines arm of Holcim, an international provider of sustainable construction materials and solutions, for $527m, according to press releases.

IFC in talks to invest in India’s Datar Cancer Genetics. (DealStreetAsia)

The International Finance Corporation is in early-stage talks to invest in Datar Cancer Genetics, an Indian oncology diagnostics company specialising in genetic testing, liquid biopsies and molecular diagnostics. Another healthcare-focused growth investor is also considering participating in the funding round.

Datar Cancer Genetics is seeking capital to expand its research capabilities, strengthen its diagnostics platform and enter additional international markets, including Australia. The company raised its first institutional funding from Alkemi Ventures in a Series A round in 2024.

FleetPartners confirms receipt of non-binding indicative offer from SG Fleet. (ASX Announcement)

FleetPartners has received an unsolicited proposal from SG Fleet, supported by majority owner Pacific Equity Partners, to acquire all outstanding shares through a scheme of arrangement. The indicative offer of AUD3.6 ($2.52) per share values FleetPartners at approximately AUD778m ($544m).

The proposal remains non-binding and is conditional on due diligence, transaction documentation and regulatory approvals in Australia and New Zealand. FleetPartners’ board has appointed UBS and Herbert Smith Freehills Kramer as advisers, and has not asked shareholders to take any action.

China Mobile said to consider stake sale in Thailand’s True. (Bloomberg)

China Mobile is considering selling its minority stake in Thai telecommunications operator True Corp.

The Chinese telecoms group is working with an adviser to gauge preliminary interest from potential buyers.

Shein said to weigh cost reset for late backers before Hong Kong IPO. (Bloomberg)

Shein is considering compensating investors that entered at valuations of up to $64bn as it prepares for a Hong Kong IPO expected to value the company substantially lower.

The retailer may offer a mix of cash payments and additional Class B shares to investors in its pre-D, D and D+ funding rounds, reducing their effective entry valuation to about $40bn and bringing it closer to the planned listing value.

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