The European Commission has approved, under the EU Merger Regulation, the proposed acquisition of Ansys by Synopsys. The approval is conditional upon full compliance with the commitments offered by the parties.
New Mountain Capital, an investment firm, agreed to acquire Machinify, a provider of artificial intelligence-powered software transforming healthcare payments. Financial terms were not disclosed.
Machinify is advised by Deutsche Bank, Cooley and 120/80. New Mountain is advised by JP Morgan, Ropes & Gray and H/Advisors Abernathy (led by
Dana Gorman).
Branford Castle, a private equity firm, completed the acquisition of Eastern Dental Management, a dental services organization, from Staple Street Capital, a private equity firm. Financial terms were not disclosed.
Eastern Dental was advised by Weil Gotshal and Manges (led by
Jakub Wronski). Branford Castle was advised by RSM International, Akerman and Lambert & Co (led by
Caroline Luz and
Jennifer Hurson). Debt financing was provided by Siguler Guff & Company. Staple Street was advised by Lincoln International.
Quanterix, a company fueling scientific discovery through ultra-sensitive biomarker detection, agreed to acquire Akoya Biosciences, a biotechnology company in Marlborough, Massachusetts. Under the terms of the agreement, which was approved by the Boards of Directors of both companies, Akoya shareholders will receive 0.318 shares of Quanterix common stock for each share of Akoya common stock owned.
Akoya Biosciences is advised by Perella Weinberg Partners and DLA Piper. Quanterix is advised by Goldman Sachs and Covington & Burling (led by
Catherine J. Dargan and
Kyle Rabe). Goldman Sachs is advised by Skadden Arps Slate Meagher & Flom (led by
Graham Robinson).
The Justice Department filed a civil antitrust lawsuit to stop Global Business Travel Group, a business travel management company, from acquiring its rival, CWT. The complaint alleges that the proposed $570m transaction would harm competition for business travel management services to US global and multinational businesses.
CWT is advised by Paul Hastings (led by
Joseph C. Swanson). Global Business Travel is advised by Morgan Stanley, Skadden Arps Slate Meagher & Flom (led by
Peter Serating) and Sloane & Company.
KKR, a global investment firm, and PSP Investments, a pension investor, agreed to acquire a 19.9% stake in Ohio and Indiana & Michigan transmission companies from American Electric Power, an electric utilities company, for $2.82bn.
KKR and PSP Investments are advised by Moelis & Co, Morgan Stanley and Simpson Thacher & Bartlett.
Mutual Federal Bank, a federally-chartered savings association, terminated the merger with Pulaski Savings Bank, a mutual savings bank. Financial terms were not disclosed.
Biogen, a biotechnology company, offered to acquire the remaining 89.8% stake in Sage Therapeutics, a biopharmaceutical company, in a $442m deal.
Cerity Partners, an independent wealth management firm, agreed to acquire Prio Wealth, a wealth management firm. Financial terms were not disclosed.
Prio Wealth is advised by Echelon Partners and Buchalter.
Blackstone considers selling Liftoff for as much as $4bn. (
Reuters)
Global investment firm The Blackstone Group is exploring strategic alternatives for Liftoff, a mobile app marketing provider based in Redwood City, California. The options under consideration include a sale or an initial public offering, potentially valuing the company at over $4bn, including debt.
Liftoff has enlisted Goldman Sachs and Jefferies & Company to advise on the process.
BlackRock in talks to sell stake in Authentic Brands Group. (
Bloomberg)
An investor group including CVC Capital Partners, General Atlantic, HPS Investment Partners and Leonard Green & Partners is in talks to buy BlackRock’s stake in Authentic Brands Group, an American brand management company.
A potential deal could value the state at as much as $3bn. BlackRock’s Long-Term Private Capital Fund paid $875m for the stake in 2019.
Historically, BlackRock has worked with Morgan Stanley, Simpson Thacher & Bartlett and Linklaters, according to
MergerLinks data.
Barington Capital calls for strategic review at TriMas. (
Reuters)
Activist investor Barington Capital Group has called on TriMas Corporation to initiate a strategic review of its options, including a potential sale of the company. Barington, which holds approximately 1.5% of TriMas, emphasized in a letter to Chairman Herbert Parker that securing a financial advisor should take precedence over the search for a new CEO.
Barington has argued for years that TriMas' packaging, aerospace and specialty products segments are not compatible and has urged the company to divest its aerospace and Arrow Engine units.
a16z and Eli Lilly partner to launch a venture capital fund. (
Press Release)
Venture capital firm Andreessen Horowitz Bio + Health, in collaboration with Eli Lilly, unveiled a $500m Biotech Ecosystem Venture Fund.
The fund aims to advance innovation in human health by investing across all stages of development, from early-stage startups to growth companies. It will focus on therapeutic platforms, novel modality development, and emerging health technologies, with a commitment to fostering transformative progress in healthcare.
Metsera, a biotech company focused on developing nutrient-stimulated hormone analog peptides for obesity, has filed for an initial public offering with the SEC.
The filing didn't specify how many shares it intends to sell or what the offering price might be. Metsera raised $215m in November via a Series B financing round.
