|
Top Highlights
Charter Communications, a broadband connectivity company and cable operator, agreed to acquire Cox Communications, an American digital cable television, telecommunications and home automation services provider, for $34.5bn, according to press releases.
Cox Communications is advised by Allen & Company, BDT & MSD Partners, Evercore, Wells Fargo Securities and Latham & Watkins (led by Bradley Faris). Charter Communications is advised by Citigroup, LionTree Advisors and Wachtell Lipton Rosen & Katz (led by Steven A. Cohen). Advance Publications is advised by Paul Weiss Rifkind Wharton & Garrison (led by Robert Schumer) , according to MergerLinks data and press releases.
General Atlantic, a global investor, completed the acquisition of a minority stake in Montagu-backed Wireless Logic, an independent global internet of things solutions provider, according to press releases. Financial terms were not disclosed.
Wireless Logic was advised by Finn Partners (led by Richard Scarlett). General Atlantic was advised by William Blair & Co, Weil Gotshal and Manges and Analysys Mason. Montagu was advised by Rothschild & Co, Freshfields Bruckhaus Deringer and Greenbrook (led by James Madsen), according to MergerLinks data and press releases.
Strathcona Resources, an oil producer, offered to acquire MEG Energy, a Canadian oil company, for CAD8.1bn ($5.8bn), according to press releases.
Strathcona is advised by Scotiabank, TD Securities, Blake Cassels & Graydon, Skadden Arps Slate Meagher & Flom (led by John Zelenbaba), Torys and Laurel Hill , according to press releases.
Deal Round up
AMERICAS
Space, defense firm Voyager Technologies files publicly for IPO. ( Bloomberg)
EMEA
UAE to up value of US energy investments to $440bn by 2035. ( Reuters)
Cinven taps Goldman, UBS for €6bn Ufinet sale. (Bloomberg)
Adevinta explores sale of its Spanish business as owners pursue break-up. ( Reuters)
Ratos weighs IPO of Nordic construction unit Sentia. (Bloomberg)
APAC
Australia's Dexus faces possible Melbourne airport stake sale over alleged confidentiality breach. ( Reuters)
Muyuan Foods taps major banks for planned $1bn Hong Kong IPO. ( Bloomberg)
China's Foshan Haitian to raise about $1bn in Hong Kong listing. ( Reuters)
Lidar Maker Hesai is said to confidentially file for Hong Kong listing. (Bloomberg)
|
|
|
Read on...
Scroll down to read deal descriptions. Your suggestions and comments support the democratisation of M&A data. If you'd like to contribute to the future editions, drop us a line.
AMERICAS
FCC’s Wireline Competition Bureau approved Verizon’s $20bn acquisition of Frontier by granting a series of applications that transfer FCC licenses and authorizations.
Vistra, an integrated retail electricity and power generation company, agreed to acquire seven modern natural gas generation facilities from Lotus Infrastructure Partners, a private equity investment firm, for $1.9bn, according to press releases.
Vistra is advised by Barclays, Moelis & Co, Cleary Gottlieb Steen & Hamilton and Latham & Watkins (led by Trina Chandler and Caroline Blitzer Phillips). Lotus Infrastructure is advised by Lazard, Eversheds Sutherland and King & Spalding (led by Jonathan Melmed) , according to press releases.
Naspers-backed Prosus, a global technology company, completed the acquisition of Despegar, a travel agency company, for $1.7bn, according to press releases.
BioMarin Pharmaceutical, a global biotechnology company, agreed to acquire Inozyme Pharma, a clinical-stage biopharmaceutical company, for $270m.
Inozyme is advised by Centerview Partners, Goodwin Procter and Biongage Communications (led by Todd Cooper). Centerview Partners is advised by Skadden Arps Slate Meagher & Flom (led by Graham Robinson and Christopher Barlow) BioMarin is advised by Goldman Sachs and Cooley, according to MergerLinks data and press releases.
ARC Resources, a Canadian energy company, agreed to acquire the Kakwa asset from Strathcona, an oil and gas producer, for CAD1.7bn ($1.2bn), according to press releases.
Strathcona is advised by BMO Capital Markets, CIBC World Markets, Jefferies & Company and Blake Cassels & Graydon, according to press releases.
KKR, a private equity firm, completed a $250m investment in Henry Schein, a provider of healthcare products and services, according to press releases.
Henry Schein was advised by Centerview Partners, Evercore and Cleary Gottlieb Steen & Hamilton (led by Paul Shim and Kyle Harris). KKR was advised by Kirkland & Ellis (led by Jennifer Perkins), according to MergerLinks data and press releases.
Tourmaline Oil, an energy company, agreed to acquire the Groundbirch asset from Strathcona Resources, an oil and gas producer, for CAD291m ($208m), according to press releases.
Strathcona is advised by ATB Capital, RBC Capital Markets, Scotiabank and Blake Cassels & Graydon, according to press releases.
Blackstone, a private equity firm, completed the $200m investment in Entrata, an operating system for multifamily communities, according to press releases.
Entrata was advised by Wilson Sonsini Goodrich & Rosati and The Outcast Agency. Blackstone was advised by Weil Gotshal and Manges (led by Kyle C Krpata), according to MergerLinks data and press releases.
Garnett Station Partners-backed StayTerra, a collection of premier vacation rental brands, completed the investment in Moving Mountains, a hospitality company specializing in luxury property management and vacation home rentals, according to press releases. Financial terms were not disclosed.
Moving Mountains was advised by Sidley Austin (led Ryan Hicks). Garnett Station Partners was advised by Gagnier Communications (led by Dan Gagnier) , according to MergerLinks data and press releases.
J&F, a private investment holding company, agreed to acquire Eldorado Brasil Celulose, a producer of international quality eucalyptus pulp, from Paper Excellence, a paper manufacturing company, for $2.6bn, according to press releases.
Paper Excellence is advised by BTG Pactual, according to MergerLinks data.
Datavant, a health data platform company, agreed to acquire Aetion, a real-world evidence platform that powers critical decision-making in healthcare, according to press releases. Financial terms were not disclosed.
Aetion is advised by Centerview Partners, according to MergerLinks data.
Marfrig, a beef processor, agreed to acquire the remaining 49.51% stake in BRF, a poultry and pork processor, according to press releases. Financial terms were not disclosed.
Rocktop Technologies, a technology and AI-enabled solutions as a service firm with deep legal and mortgage capital markets expertise, completed the acquisition of Incenter Capital Advisors, a firm that provides advisory services in the trading and pricing of mortgage servicing rights and post-transactional support, according to press releases. Financial terms were not disclosed.
Chobani, a food company specializing in strained yogurt, completed the acquisition of Daily Harvest, a plant-based food maker, according to press releases. Financial terms were not disclosed.
An investor consortium including Marc Benioff, Shopify, and Neal H. Moritz, completed the investment in Whalar Group, a global creator company, according to press releases. Financial terms were not disclosed.
Space, defense firm Voyager Technologies files publicly for IPO. ( Bloomberg)
Voyager Technologies has officially filed for an initial public offering, aiming to benefit from increased government investment in cutting-edge defense systems and space initiatives.
In a filing submitted Friday to the US Securities and Exchange Commission, the Denver-based aerospace and defense firm disclosed a net loss of $27m on $35m in revenue for the quarter ending March 31. This marks a deeper loss compared to the same period last year, when it reported a $15m loss on $30m in revenue.
EMEA
British healthcare real estate investor Primary Health Properties has made a £1.68bn ($2.23bn) offer to acquire its peer Assura, surpassing a £1.61bn ($2.14bn) competing bid from US investment firms KKR and Stonepeak Partners.
Assura is advised by Barclays (led by Bronson Albery), Lazard (led by Cyrus Kapadia), Stifel (led by Mark Young), Travers Smith and FGS Global (led by Gordon Simpson). KKR is advised by Jefferies & Company (led by Dai Clement), Bowmans, Simpson Thacher & Bartlett (led by Amy Mahon) and FGS Global (led by Faeth Birch). PHP is advised by Citigroup (led by James Ibbotson), Deutsche Numis (led by Heraclis Economides), JP Morgan, Peel Hunt (led by Michael Nicholson), Rothschild & Co (led by Alex Midgen), CMS and Sodali & Co (led by Rory Godson), according to MergerLinks data and press releases.
Investment firms Stonepeak and Energy Equation Partners agreed to acquire a majority stake in JET Tankstellen Deutschland, a fuel retailer in Germany and Austria, from Phillips 66, an American multinational energy company, for $1.6bn, according to press releases.
Stonepeak is advised by Akin Gump Strauss Hauer & Feld, Hengeler Mueller, Paul Weiss Rifkind Wharton & Garrison (led by Neel V. Sachdev and Matthew Merkle) and Simpson Thacher & Bartlett (led by Paul Foote), according to MergerLinks data and press releases.
Brookfield Asset Management, an investment management company, agreed to acquire European operations of Generator Hostel, a chain of hostels, from Queensgate Investments, a private investment firm, for €776m ($869m), according to press releases.
Brookfield is advised by KPMG, DLA Piper and Kirkland & Ellis. Queensgate is advised by Ernst & Young, Morgan Stanley, Brown Rudnick and The Communication Group, according to press releases.
Gecina, a real estate investment trust, agreed to acquire a 32k sq.m flagship office complex in Paris for €435m ($487m), according to press releases.
United Internet, a global internet services company, agreed to acquire an additional 9.19 % stake in 1&1, a German telecommunications service and landline and mobile telecommunications provider, for €300m ($336m), according to press releases.
UAE to up value of US energy investments to $440bn by 2035. ( Reuters)
The United Arab Emirates has announced plans to increase its energy investments in the United States to $440bn over the next ten years, a move revealed on Friday that supports US President Donald Trump’s drive to secure significant business agreements during his Gulf tour.
This initiative, which supports the international expansion goals of UAE-based companies, was disclosed by Sultan Al Jaber, CEO of Abu Dhabi’s state oil company ADNOC Group, in a presentation to Trump during the final leg of his regional visit.
Cinven taps Goldman, UBS for €6bn Ufinet sale. ( Bloomberg)
Private equity firm Cinven has enlisted Goldman Sachs Group and UBS Group to oversee the sale of telecom company Ufinet Group.
Cinven is aiming for a valuation near €6bn (approximately $6.7bn) for Ufinet. One source noted that the Madrid-headquartered firm and its advisors may formally launch the sale process following the summer.
Adevinta explores sale of its Spanish business as owners pursue break-up. ( Reuters)
Adevinta, an online classifieds company, is considering selling its operations in Spain. The move is part of a strategy by its private equity owners to restructure the business and concentrate on three core markets to enhance profitability.
The Norwegian company, which was taken private last year by a consortium led by Blackstone and Permira, is collaborating with advisers to facilitate the sale. Its Spanish portfolio includes platforms such as Infojobs, a job search site, and Fotocasa, a real estate listing service.
Ratos weighs IPO of Nordic construction unit Sentia. ( Bloomberg)
Swedish holding company Ratos is exploring the possibility of taking its construction subsidiary, Sentia, public.
The company is collaborating with financial advisers to assess market interest in the business before moving forward with a potential initial public offering. However, the sources noted that the deliberations are still ongoing, and the final outcome remains uncertain, as no definitive decisions have been made.
APAC
Australia's Dexus faces possible Melbourne airport stake sale over alleged confidentiality breach. ( Reuters)
Dexus, a real asset management firm, announced on Friday that it might have to sell its 27% interest in Melbourne Airport following a notice from the airport’s board accusing it of violating confidentiality agreements.
The stake is held via Dexus Bloc in Australia Pacific Airports, the entity that owns both Melbourne and Launceston airports, with Dexus serving as the manager.
Muyuan Foods taps major banks for planned $1bn Hong Kong IPO. ( Bloomberg)
Chinese pig breeder and pork producer Muyuan Foods has enlisted Citic Securities, Goldman Sachs, and Morgan Stanley to lead its planned listing in Hong Kong later this year.
The company is targeting a capital raise of at least $1bn through the share offering.
China's Foshan Haitian to raise about $1bn in Hong Kong listing. ( Reuters)
Foshan Haitian Flavouring and Food Company, a Chinese firm listed in Shanghai, has secured approval from the Hong Kong Stock Exchange to pursue a listing in the city, aiming to raise approximately $1bn.
The deal received a green light from the exchange’s listing committee on May 15.
Lidar Maker Hesai is said to confidentially file for Hong Kong listing. ( Bloomberg)
Hesai Group, a leading Chinese producer of lidar sensors for advanced driver assistance systems, has reportedly submitted a confidential application for a listing in Hong Kong.
Currently listed on Nasdaq, Hesai is collaborating with banks to explore a possible share sale that could happen later this year. However, discussions are still in progress, and specifics like the timing and scale of the offering have yet to be determined.
|
Connect the World of Dealmakers
Expand your network of fellow Dealmakers by inviting your colleagues and coworkers.
Join Now
If you know someone who might enjoy this briefing forward this email. Subscribe to a Daily Review.
|
|
|
|
|
