Two Harbors Investment and CrossCountry Intermediate have signed an amended merger agreement that increases the per‑share cash payment to TWO stockholders to $12.00, compared with $11.30 under the previous terms.
Two Harbors is advised by Houlihan Lokey, Jones Day, and Joele Frank (led by
Andrew B. Siegel and
Aura Reinhard). CrossCountry is advised by Citigroup and Simpson Thacher & Bartlett (led by
Ravi Purushotham), according to press releases and MergerLinks data.
FH Capital, a private equity firm, agreed to acquire a 75.1% stake in Jinko Solar US Industries, a company focused on solar module manufacturing and energy‑storage solutions, from JinkoSolar, a global solar technology company, according to press releases. Financial terms were not disclosed.
FH Capital is advised by Latham & Watkins and Wilkinson + Associates (led by
Leah Wilkinson). JinkoSolar is advised by Morgan Stanley and Cleary Gottlieb Steen & Hamilton, according to press releases.
BT Brands, a US company that owns and operates a portfolio of restaurant concepts across the country, failed to merge with Aero Velocity, a drone service provider specializing in LiDAR and multispectral imaging solutions, according to press releases. Financial terms were not disclosed.
ALPS INSURANCE, a company specializing in legal malpractice and professional liability insurance for lawyers and law firms, agreed to acquire Ohio Bar Liability Insurance Company, a company focused on providing professional liability insurance to attorneys in Ohio, from the Ohio State Bar Association, a statewide professional association for Ohio lawyers, according to press releases. Financial terms were not disclosed.
ALPS Insurance is advised by Howden and McDermott Will & Schulte. Ohio State Bar Association is advised by JRW Esquire LTD, according to press releases.
Telephone and Data Systems, a provider of broadband services and wireless infrastructure, agreed to acquire Array, an owner and operator of shared wireless communications infrastructure in the US, according to press releases. Financial terms are not disclosed.
Telephone and Data Systems is advised by Wells Fargo, and Sidley Austin.
Array is advised by Cravath Swaine & Moore (led by
Gregory J. Ligelis), according to press releases.
Strategic Value Partners, a global alternative investment firm, completed the acquisition of a majority stake in New Frontera, a 530-megawatt natural gas-fired combined-cycle generation facility, according to press releases. Financial terms were not disclosed.
New Frontera was advised by Houlihan Lokey. SVP was advised by Davis Polk & Wardwell (led by
Darren M. Schweiger), according to MergerLinks data and press releases.
Valveworks USA, a company specializing in wellhead and tree equipment for the oil and gas industry, completed the acquisition of Houston Oilfield Equipment, a company focused on choke products for the oil and gas sector, according to press releases. Financial terms were not disclosed.
Valveworks USA was advised by Wiener, Weiss & Madison. Houston Oilfield Equipment was advised by Dow Golub Remels & Gilbreath, according to press releases.
HomeFront Brands, a residential and commercial property services franchise platform, completed the acquisition of AdvantaClean, a company specializing in environmental remediation and restoration services, according to press releases. Financial terms were not disclosed.
Phoenix Tailings, a company specializing in rare earth manufacturing technology, completed the acquisition of Machinery Partner, a company focused on AI‑driven industrial software and automation, according to press releases. Financial terms were not disclosed.
LLCP-backed Blue Ridge Associates, a provider of tech-enabled administration and compliance solutions for employer-sponsored ESOP and qualified retirement plan benefits, completed the acquisition of Economic Group Pension Services, a retirement plan services firm, according to press releases. Financial terms were not disclosed.
WPCG-backed MCF Advisors, a company specializing in wealth management and financial planning, completed the acquisition of Hoff Bujnoch & Associates, a firm focused on planning‑led and relationship‑driven wealth advisory services, according to press releases. Financial terms were not disclosed.
Enviracore, a company specializing in environmental and industrial services, completed the acquisition of Environmental Management (EMI), a company focused on turnkey environmental services and hazardous waste management, according to press releases. Financial terms were not disclosed.
Apollo and Blackstone weigh $35bn Broadcom financing. (
Bloomberg)
Apollo and Blackstone are among lenders in talks with Broadcom over a roughly $35bn financing tied to AI chip development.
The transaction could become one of the largest private credit deals as demand for AI infrastructure funding accelerates.
Yahoo refinances $1.6bn of Apollo buyout debt. (
Bloomberg)
The company offered one of the year’s highest-yielding financings, including junk bonds priced at an 11% yield.
Inspire Brands files confidentially for US IPO. (
Bloomberg)
Inspire Brands, owner of Dunkin’, Arby’s and Jimmy John’s, has confidentially filed for a US IPO.
The offering could raise about $2bn, though the number of shares and pricing details have not yet been determined.
Compass ends Brazil’s nearly five-year IPO drought. (
Reuters)
Compass Gas e Energia has priced a BRL3.2bn ($650m) IPO, marking the first listing on Brazil’s B3 exchange since 2021.
Shares in the Cosan-controlled energy company were priced at BRL28 each ahead of trading.
Safepoint Holdings has filed for an initial public offering as the insurer reported rising revenue and profit.
The Florida-based company disclosed strong first-quarter results in its filing with the US Securities and Exchange Commission.
Applied Aerospace files for US IPO amid space listing wave. (
Bloomberg)
Applied Aerospace & Defense has filed for a US IPO as space and defense companies continue moving toward public markets.
The company disclosed higher revenue alongside wider losses in its filing with the US Securities and Exchange Commission.
Odyssey Therapeutics raises $279m in upsized US IPO. (
Reuters)
Odyssey Therapeutics has raised $279m in an upsized US IPO after pricing shares at the top of the marketed range.
The biotech company sold 15.5m shares as investor demand supported the offering.
Cerebras plans to raise IPO price range. (
Bloomberg)
Cerebras Systems is preparing to increase the price range for its IPO as investor demand for the AI chipmaker continues to strengthen.
The offering has attracted orders far exceeding available shares, with the revised range expected at $125 to $135 per share.
EMEA
Coalition, an active insurance provider, agreed to acquire commercial cyber insurance business from Allianz, a German multinational financial services company, according to press releases. Financial terms were not disclosed.
Coalition is advised by Skadden Arps Slate Meagher & Flom (led by
Todd Freed). Allianz is advised by Sullivan & Cromwell (led by
C. Andrew Gerlach), according to MergerLinks data and press releases.
Centrica, a British multinational energy and services company, completed the acquisition of the 850MW Severn power station from Calon Energy Group, a company specializing in power generation, for £370m ($505m), according to press releases.
Centrica was advised by Citigroup, according to MergerLinks data and press releases.
Intertek rejects $12bn EQT takeover bid. (
Reuters)
Intertek has rejected a third takeover proposal from EQT valued at about $12bn, saying the offer undervalued the company.
The testing group said it remains focused on its strategic review and has received interest in its energy and infrastructure unit.
Commerzbank plans 3k job cuts amid UniCredit pressure. (
Reuters)
Commerzbank plans to cut 3k jobs and raise profit targets as it seeks to fend off a takeover by UniCredit.
OnlyFans stake sale values company at $3.15bn. (
WSJ)
OnlyFans has agreed to sell a 16% stake to Architect Capital for $535m in a deal valuing the company at $3.15bn.
The investment follows months of discussions and comes shortly after the death of owner Leo Radvinsky.
KNDS IPO faces valuation pressure amid peer declines. (
Bloomberg)
KNDS’s planned summer IPO is facing uncertainty as falling valuations across the defense sector weigh on investor appetite.
Advisers have lowered the company’s expected valuation to €18bn–20bn ($21.2bn-23.6bn) from earlier estimates of up to €25bn ($29.5bn).
Ninja taps banks for $1bn Saudi IPO. (
Bloomberg)
Saudi delivery startup Ninja has appointed Citigroup, Goldman Sachs, Riyad Capital and UBS for a potential IPO in Riyadh.
The company is targeting a $1bn raise through a listing that could take place later this year or in early 2027.
