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Top Highlights
CD&R, an American private equity company, agreed to acquire Sealed Air, a global provider of food and protective packaging solutions, for $10.3bn, according to press releases.
Sealed Air is advised by Evercore, Latham & Watkins and FGS Global. CD&R is advised by BNP Paribas, Bank of America, Citigroup, Goldman Sachs, JP Morgan, Lazard, Mizuho Securities, RBC Capital Markets, UBS, Wells Fargo Securities, Debevoise & Plimpton and Kirkland & Ellis. Debt financing is provided by BNP Paribas, Bank of America, Citigroup, Goldman Sachs, JP Morgan, Mizuho Securities, RBC Capital Markets, UBS and Wells Fargo Securities, according to press releases.
Gibraltar Industries, a manufacturer and distributor of building products for the residential, industrial, and infrastructure markets, agreed to acquire OmniMax International, a company that manufactures building and transportation products, from Strategic Value Partners, an investment management firm, for $1.335bn, according to press releases.
OmniMax International is advised by Rothschild & Co and Paul Weiss Rifkind Wharton & Garrison (led by Nickolas Bogdanovich and Robert Kindler). Gibraltar Industries is advised by Bank of America, Perella Weinberg Partners, Wachtell Lipton Rosen & Katz (led by Alison M. Zieske Preiss), Alliance Advisors (led by Jody Burfening) and FGS Global (led by Andrew Duberstein and Jacob Crows). Debt financing is provided by Bank of America, KeyBanc Capital Markets and Wells Fargo Securities, according to press releases and MergerLinks data.
HICL Infrastructure, a closed-ended investment company focused on essential infrastructure assets, agreed to merge with The Renewables Infrastructure Group, a closed-ended investment company focused on renewables assets, in a $5.2bn deal, according to press releases.
Deal Round up
AMERICAS
KKR&Co renews deal with PayPal to buy up to €65bn of loans. ( Bloomberg)
Crypto firm LevelField secures Illinois approval to buy a bank. (Bloomberg)
Comerica investor who pushed for sale questions Fifth Third deal. (Bloomberg)
Trump buys at least $82m in bonds since late August. (Reuters)
EMEA
Abu Dhabi Investment Authority to sell half its stake in Qatar's Ooredoo. (Bloomberg)
DKSH said to bid for Swiss drug distributor Swixx Biopharma. (Bloomberg)
Finland's Teboil expects a change of ownership as Lukoil plans asset sales. (Reuters)
EDF and OpCore to develop €4bn data centre in France. (Reuters)
APAC
CATL shares drop as stake sale, US scrutiny weigh on sentiment. ( Bloomberg)
Carlsberg may sell some Asia operations. ( Bloomberg)
South Korean plastic makers progress integration. ( Bloomberg)
Nigo's streetwear brand Human Made prices Tokyo IPO at the top end. ( Bloomberg)
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AMERICAS
Linamar, a diversified advanced manufacturing company, completed the acquisition of certain North American business assets from Aludyne, a global lightweighting solutions and components supplier, for $300m, according to press releases.
Linamar was advised by National Bank of Canada. Aludyne was advised by AlixPartners, Jefferies & Company, Jones Day (led by Thomas Wearsch) and C Street Advisory, according to press releases.
TransAlta, a power generator company, agreed to acquire 310 MW power portfolio of Hut 8, an energy infrastructure platform, according to press releases. Financial terms were not dsiclosed.
Hut 8 is advised by CIBC Capital Market and Bennett Jones, according to press releases.
Johnson & Johnson, a company which engages in the research and development, and manufacture and sale of products in the health care field, agreed to acquire Halda Therapeutics, a clinical-stage biotechnology company with a proprietary platform to develop oral, targeted therapies for multiple types of solid tumors, including prostate cancer, for $3.05bn, according to press releases.
Halda Therapeutics is advised by Centerview Partners, according to press releases.
Yosemite, an oncology-focused venture fund investing in biotech and healthcare innovations, led a $120m Round in Solve Therapeutics, a developing novel antibody-drug conjugates engineered for selectivity and optimized payload delivery, as well as novel patient-selection diagnostics, with participation from Abingworth, Ally Bridge Group, B Capital, Balyasny Asset Management, Merck & Co., SymBiosis, Alexandria Venture Investments, AyurMaya Capital Management, General Atlantic, and Surveyor Capital, according to press releases.
Solve Therapeutics was advised by KKH Advisors (led by Kimberly Ha), according to press releases.
Palladyne AI, a developer of artificial intelligence software for robotic applications, completed the acquisition of GuideTech, a designer and builder of advanced flight software, Warnke Precision Machining, and MKR Fabricators, providers of advanced precision machining services, from Crucis, a private investment company for $31m, according to press releases.
Ennis, a company that specializes in the production and sale of business forms, apparel, print, and promotional products, completed the acquisition of CFC Print & Mail, a wholesale provider of business‑document printing, mailing and commercial print solutions, according to press releases. Financial terms were not disclosed.
National CineMedia, an American cinema advertising company, completed the acquisition of Spotlight Cinema Networks, a cinema advertising company dedicated to serving art house, luxury, and dine-in exhibitors, according to press releases. Financial terms were not disclosed.
KKR&Co renews deal with PayPal to buy up to €65bn of loans. ( Bloomberg)
KKR&Co has agreed to acquire up to €65bn ($75.4bn) of buy-now-pay-later loans from PayPal as part of an expanded partnership between the two firms.
The arrangement includes a €6bn replenishing loan commitment that will allow KKR-managed credit funds and accounts to continue purchasing PayPal-originated consumer loans across France, Germany, Italy, Spain and the UK.
Crypto firm LevelField secures Illinois approval to buy a bank. ( Bloomberg)
LevelField Financial said it has received approval from the Illinois Department of Financial and Professional Regulation to acquire Chicago-based Burling Bank, paving the way for it to convert the lender into a full-service bank offering cryptocurrency services.
The move comes as US banking regulators shift toward a more supportive stance on digital assets, following the 2023 failures of Silvergate Capital and Signature Bank, which had been the sector’s most prominent crypto-focused institutions.
Comerica investor who pushed for sale questions Fifth Third deal. ( Bloomberg)
HoldCo Asset Management is urging Comerica to disclose more information about its agreement to be acquired by Fifth Third Bancorp, arguing that the transaction stems from a “flawed” sale process ahead of a shareholder vote slated for early January.
The activist investor, which had previously pressed the regional bank to pursue a sale, now contends that Comerica did not run an independent or sufficiently competitive process.
Trump buys at least $82m in bonds since late August. ( Reuters)
Donald Trump made at least $82m in purchases of corporate and municipal bonds from late August to early October, according to financial disclosures released by the US Office of Government Ethics.
The filings show more than 175 transactions, including new investments in sectors positioned to benefit from his policy agenda.
EMEA
Onto Innovation, a company engaged in process control, combining global scale with an expanded portfolio of leading-edge technologies, completed the acquisition of materials analysis business from Semilab International, a company that designs, produces and sells metrology equipment for the characterization of semiconductor and photovoltaic materials, for $545m, according to press releases.
Onto Innovation was advised by Barclays, Dentons and Simpson Thacher & Bartlett (led by Joseph Conahan). Semilab International was advised by Needham & Co and Hill Ward Henderson, according to press releases.
Lone Star, a private equity firm that invests globally in real estate, equity, credit, and other financial assets, completed the acquisition of multi-asset real estate portfolio of St. James’s Place, a British multinational wealth management business, according to press releases. Financial terms were not disclosed.
Lone Star was advised by Headland Consultancy (led by Rosheeka Field). St. James’s Place was advised by Invesco Real Estate (led by Andy Rofe), according to press releases.
Ancient, an investment firm, completed the investment in Burgess, a superyacht company, according to press releases. Financial terms were not disclosed.
Ancient was advised by Bamberger & Vlasto (led by Josh Vlasto), according to press releases.
TotalEnergies, an integrated multi-energy company, agreed to acquire 50% stake in power generation assets of EPH, a Czech multi-utility company offering power and heat generation and distribution, gas transmission and storage services, for €5.1bn, according to press releases.
Strattam Capital-backed Intellect, a provider of an AI-powered quality management system platform that helps companies in regulated industries digitize, automate, and improve quality processes, completed the acquisition of Zaptic, a provider of a connected frontline worker platform that augments manufacturing and operations teams through AI-enabled workflows, according to press releases. Financial terms were not disclosed.
Abu Dhabi Investment Authority to sell half its stake in Qatar's Ooredoo. ( Bloomberg)
Abu Dhabi Investment Authority is seeking to sell a 5% stake in Ooredoo through a secondary share placement that could raise up to $572m.
The sovereign wealth fund is offering around 161m shares – representing half of its current holding – at a price range of SAR12.40 ($3.3) to SAR13 ($3.46) each. At the upper end of the range, the sale would generate approximately SAR2.09bn ($572m).
DKSH said to bid for Swiss drug distributor Swixx Biopharma. ( Bloomberg)
DKSH, the Zurich-based distribution company, is among the bidders seeking to acquire Swiss drug distributor Swixx Biopharma.
The deal has also drawn interest from SK Capital Partners and Lone Star. The business could be valued at roughly €1.5bn ($1.743bn) to €2bn ($2.324bn).
Finland's Teboil expects a change of ownership as Lukoil plans asset sales. ( Reuters)
Teboil said it expects Russia’s Lukoil to divest the Finnish petrol station chain as the Russian oil company continues efforts to sell off its overseas assets.
The comments follow new US sanctions placed on Lukoil last month over Moscow’s war in Ukraine, and guidance from the Trump administration allowing prospective buyers to engage with the firm regarding its non-Russian operations.
EDF and OpCore to develop €4bn data centre in France. ( Reuters)
French utility EDF and OpCore, a joint venture between Iliad and InfraVia Capital Partners, have entered into exclusive negotiations to develop a hyperscale data centre.
The project, to be built on the site of EDF’s former coal-fired plant at Montereau-Vallee-de-la-Seine, is expected to cost around €4bn ($4.64bn) and create one of Europe’s largest computing hubs with several hundred megawatts of capacity.
APAC
CATL shares drop as stake sale, US scrutiny weigh on sentiment. (Bloomberg)
Shares in Contemporary Amperex Technology fell after the company’s third-largest shareholder, Huang Shilin, moved to reduce his stake.
Huang plans to sell 1% of his holdings to institutional investors. The company’s Hong Kong-listed shares, trading at about a 20% premium to its onshore stock, also declined ahead of a lock-up expiry involving 77.5m shares held by cornerstone investors.
Carlsberg may sell some Asia operations. ( Bloomberg)
Carlsberg is considering the sale of a part of its Asian operations, with Sapporo Holdings emerging as a leading potential buyer.
Talks are ongoing and may not result in a transaction if the parties cannot agree on ownership and other terms.
South Korean plastic makers progress integration. ( Bloomberg)
South Korea’s two largest plastic producers are finalizing plans to integrate their operations as the country’s petrochemical sector faces strong competition from China.
Lotte Chemical and HD Hyundai Chemical have prepared a restructuring plan to consolidate their facilities in Daesan. The companies’ boards may approve the plan in the near term.
Nigo's streetwear brand Human Made prices Tokyo IPO at the top end. ( Bloomberg)
Human Made, a Japanese streetwear company founded by designer Nigo, priced its initial public offering at the top of the marketed range, selling shares at JPY3.13 ($20.25) each.
The offering, which included sales by existing shareholders such as Nigo and Pharrell Williams, raised JPY17.8bn ($115m). The company also issued new shares to fund the opening of new stores in Japan and expand its e-commerce operations.
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