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AMERICAS

Chatham Financial to acquire Hodes Weill & Associates.

Chatham Financial, an independent financial risk management advisory and technology firm, agreed to acquire Hodes Weill & Associates, a global capital advisory firm and placement agent specializing in the real estate, infrastructure and real assets sectors, according to press releases. Financial terms were not disclosed.

Chatham Financial is advised by KPMG, Latham & Watkins and Gregory FCA. Hodes Weill & Associates is advised by Piper Sandler, Goodwin Procter, EisnerAmper and ICR (led by Jason Chudoba and Megan Kivlehan), according to press releases.

Forge Nano to go public via SPAC merger with Archimedes II in a $1.2bn deal.

Forge Nano, a materials‑science and nanotechnology company, agreed to go public via SPAC merger with Archimedes II, a special purpose acquisition company, in a $1.2bn deal, according to press releases.

Forge Nano is advised by BTIG, Cohen & Company Capital Markets and Paul Weiss Rifkind Wharton & Garrison (led by Benjamin Goodchild, Timothy Cruickshank and Christodoulos Kaoutzanis). BTIG and Cohen & Company Capital Markets are advised by Kirkland & Ellis. Archimedes II is advised by Loeb & Loeb and Alliance Advisors (led by Bryan Baritot), according to press releases.

Amneal Pharmaceuticals to acquire Kashiv BioSciences for up to $1.1bn.

Amneal Pharmaceuticals, an American biopharmaceutical company specializing in the development, manufacturing and distribution of generic and specialty medications, agreed to acquire Kashiv BioSciences, a biopharmaceutical company specializing in developing and manufacturing biosimilars and complex drug-delivery medicines, for up to $1.1bn according to press releases.

Amneal Pharmaceuticals is advised by Simpson Thacher & Bartlett (led by Jakob Rendtorff and Benjamin Bodurian), Goldman Sachs, Joele Frank (led by Jamie Moser and Aura Reinhard) and Richards Layton and Finger. Kashiv BioSciences is advised by Holland & Knight and JP Morgan, according to press releases and MergerLinks data.

SK Capital Partners completes the acquisition of Brothers International Food from Benford Capital Partners.

SK Capital Partners, a private investment firm, completed the acquisition of Brothers International Food, a US-based importer and supplier of tropical and exotic fruit ingredients, from Benford Capital Partners, a Chicago-based private equity investment firm, according to press releases. Financial terms were not disclosed.

SK Capital Partners was advised by Alantra, King & Spalding and Gregory FCA (led by Daniel Abramson). Debt financing was provided by Bain Capital. Brothers International Food was advised by Harris Williams & Co and DLA Piper, according to press releases.

GTCR completes the acquisition of Fiduciary.

GTCR, a private equity firm, completed the acquisition of Fiduciary, a private wealth management firm, according to press releases. Financial terms were not disclosed.

GTCR was advised by Kirkland & Ellis and Prosek Partners (led by Joshua Clarkson). Fiduciary was advised by Centerview Partners, Debevoise & Plimpton (led by Gregory V. Gooding and Andrew G. Jamieson) and Gregory FCA (led by Paige Sullivan), according to press releases and MergerLinks data.

SoundHound AI to acquire LivePerson for $43m.

SoundHound AI, an American music and speech recognition company, agreed to acquire LivePerson, a global technology company that develops conversational commerce and AI software, for $43m, according to press releases.

SoundHound AI is advised by Barclays and Latham & Watkins. LivePerson is advised by Lazard, Houlihan Lokey and Fried Frank Harris Shriver & Jacobson, according to press releases and MergerLinks data.

TMX Group to acquire the Australian and Canadian equities businesses of Cboe Global Markets for $300m.

TMX Group, a Canadian financial services company, agreed to acquire the Australian and Canadian equities businesses of Cboe Global Markets, a provider of market infrastructure and tradable products, for $300m, according to press releases.

Cboe Global Markets is advised by Barclays, Blake Cassels & Graydon, Mallesons and Sidley Austin, according to press releases.

Brightstar Capital Partners completes the acquisition of a majority stake in Bendon.

Brightstar Capital Partners, a private equity firm, completed the acquisition of a majority stake in Bendon, an American publisher specializing in affordable children's coloring, activity and educational books, according to press releases. Financial terms were not disclosed.

Brightstar Capital Partners was advised by Kirkland & Ellis and Prosek Partners. Bendon was advised by Portage Point Partners and Spencer Fane, according to press releases.

Clairvest Group completes the acquisition of MGM Northfield Park from MGM Resorts International for $546m.

Clairvest Group, a private equity management firm, completed the acquisition of MGM Northfield Park, an award-winning gaming, dining, and entertainment destination, from MGM Resorts International, a global hospitality and entertainment company operating destination resorts in Las Vegas, for $546m, according to press releases.

MGM Resorts International was advised by Jefferies & Company, SMBC Nikko Securities and Weil Gotshal and Manges (led by Rachel Shapiro, Michael J. Aiello and Sachin Kohli), according to press releases and MergerLinks data.

Ticketure completes the acquisition of PatronManager.

Ticketure, a cloud‑based ticketing and membership management software provider, completed the acquisition of PatronManager, a SaaS provider offering ticketing and CRM solutions, according to press releases. Financial terms were not disclosed.

Ticketure was advised by Croke Fairchild Morgan & Beres and Kirkland & Ellis, according to press releases.

Trivest Partners and Halmos Capital Partners-backed Thermal Concepts completes the acquisition of Hunter Mechanical.

Trivest Partners and Halmos Capital Partners-backed Thermal Concepts, a provider of HVAC and control solutions, completed the acquisition of Hunter Mechanical, a company specializing in year-round HVAC services, according to press releases. Financial terms were not disclosed.

Avem Partners completes the acquisition of PAMCO.

Avem Partners, a private equity firm, completed the acquisition of PAMCO, a US-based precision manufacturing company, according to press releases. Financial terms were not disclosed.

Deutsche Telekom weighs full combination with T-Mobile. (Bloomberg)

Deutsche Telekom is exploring a potential full merger with T‑Mobile US that could become the largest public M&A deal on record. The companies have considered creating a new holding structure that would make a stock‑based offer for shares of both Deutsche Telekom and T‑Mobile. Deutsche Telekom already owns nearly 53% of its US unit.

The talks are at an early stage and would require political and regulatory support to proceed. A combination would create the world’s largest wireless operator by market value, surpassing China Mobile. Deutsche Telekom has stated that it does not plan to sell T‑Mobile shares in 2026, while both companies declined to comment on the potential transaction.

SpaceX says it has option to acquire startup Cursor for $60bn. (Reuters)

SpaceX has secured an option to either acquire Cursor, an AI coding startup, for $60bn later in 2026 or pay $10bn to deepen an existing partnership, as it expands into AI developer tools. The arrangement would give Cursor access to substantial computing resources while strengthening SpaceX’s AI capabilities.

The move follows SpaceX’s February merger with xAI, parent of the Grok chatbot, and comes ahead of a potential SpaceX IPO targeting a valuation near $1.75tn. Cursor competes with AI coding startups backed by rivals such as OpenAI and Anthropic, highlighting intensifying competition in AI‑driven software development.

Jeff Bezos’s AI lab nears $38bn valuation in funding deal. (FT)

Jeff Bezos’s AI laboratory, Project Prometheus, is nearing a $10bn fundraising round that would value the company at about $38bn. The round is expected to include backing from BlackRock and JP Morgan, building on the $6.2bn Prometheus raised when it launched in November 2025.

The San Francisco‑based startup is developing so‑called physical AI systems that model real‑world processes for use in industries such as manufacturing, aerospace, robotics, and drug discovery. Co‑led by CEO Vikram Bajaj, the company has rapidly expanded its workforce and would rank among the most highly valued early‑stage AI startups globally if the fundraising closes.

Marcellus driller Arsenal to explore $1.5bn sale. (Bloomberg)

Arsenal Resources, a closely held natural‑gas producer operating in the Marcellus Basin, is exploring strategic options, including a potential sale that could value the company at around $1.5bn.

The driller emerged from bankruptcy in 2019 and remains owned by its creditors. It is working with financial advisers to identify potential buyers, though discussions are at an early stage and there is no guarantee a transaction will be completed.

CVC, GTCR weigh take-private of medical equipment provider Teleflex. (Bloomberg)

CVC Capital Partners and GTCR have submitted a takeover proposal for Teleflex, as the buyout firms explore a potential take‑private of the medical‑equipment provider. The two firms have been working together to assess the transaction.

Teleflex, based in Wayne, Pennsylvania, supplies medical devices used in critical‑care and surgical settings. Discussions remain private and preliminary, with no certainty that a deal will be completed or that definitive terms will be agreed.

Netflix in talks for LA studio lot seized by Goldman. (Bloomberg)

Netflix is in talks to acquire Radford Studio Center, a historic Los Angeles studio lot that was recently repossessed by lenders, including Goldman Sachs. The move would give Netflix access to studio space at a significantly lower valuation after dropping out of the bidding for Warner Bros Discovery.

The final purchase price has not been agreed upon, and talks remain ongoing. Radford was sold in 2021 for $1.85bn, and any new deal is expected to be struck at less than one‑third of that price, highlighting the sharp reset in valuations for studio real estate assets.

Power startup Fermi rejects former CEO's call for sale of company. (Reuters)

Fermi has rejected a call from its former chief executive, Toby Neugebauer, to pursue an immediate sale of the US power startup, saying such a move would not be in the company’s best interests. Neugebauer, who co‑founded Fermi and remains on the board after stepping down as CEO, had urged a sale to maximise shareholder value.

The company said its priority is continuing development of Project Matador, an 11‑gigawatt AI data‑centre and energy campus in Texas. While ruling out a near‑term sale, Fermi said its board will continue to review options to maximise value, including third‑party investment, joint ventures or other transactions, as it conducts a search for a new CEO.

Housing REIT National Healthcare’s US IPO raises $462m. (Bloomberg)

National Healthcare Properties, a housing‑focused real estate investment trust, raised $462m in its US IPO after pricing the deal below the marketed range. The New York‑based REIT sold 38.5m shares at $12 each.

The offering had been marketed at $13–$16 per share, underscoring continued selectivity among IPO investors. Despite the lower pricing, the transaction adds to a gradual reopening of the US REIT IPO market amid cautious conditions.

Convenience store operator Yesway raises $280m in US IPO. (Bloomberg)

Yesway raised $280m in a US IPO after pricing an upsized offering at the bottom of the marketed range. The convenience‑store operator sold 14m shares at $20 each.

The Fort Worth‑based company had marketed nearly 14m shares at $20–$23 apiece. The deal adds to a cautious reopening of the US IPO market, where issuers have prioritised execution certainty over pricing upside.

Men’s Wearhouse owner files confidentially for IPO. (Press Release)

Tailored Brands, the owner of Men’s Wearhouse, Jos. A. Bank, Moores, and K&G Fashion Superstore, has confidentially filed for an IPO with the US Securities and Exchange Commission.

The Houston‑based menswear group submitted a draft registration statement, with details on deal size and timing yet to be determined. The filing positions Tailored Brands for a potential listing later in 2026, subject to market conditions and regulatory review.

EMEA

Montyon Capital to acquire a majority stake in TRIGO from Ardian.

Montyon Capital, a French investment fund, agreed to acquire a majority stake in TRIGO, a major international provider of quality management and operational services, from Ardian, a global private investment firm, according to press releases. Financial terms were not disclosed.

Ardian is advised by Robert W Baird, Latham & Watkins, Ernst & Young, Boston Consulting Group and Headland Consultancy, according to press releases.

Inspirit Capital to acquire Kaplan Languages Group from Kaplan.

Inspirit Capital, a London-based private equity firm, agreed to acquire Kaplan Languages Group, a global educational travel platform, from Kaplan, an international educational services company that provides educational and training services, according to press releases. Financial terms were not disclosed.

Inspirit Capital is advised by Houlihan Lokey, Mayer Brown, Gallagher, Interpath and Evology, according to press releases.

Wendel completes the acquisition of a 56% stake in Committed Advisors for up to €386m.

Wendel, an investment firm, completed the acquisition of a 56% stake in Committed Advisors, a global private equity secondary manager, for up to €386m ($450m), according to press releases.

Wendel was advised by Rothschild & Co (led by Philippe Karouni, Cyril de Mont-Marin and Anne Catherine Philippeau), Kirkland & Ellis (led by Vincent Ponsonnaille) and Primatice (led by Hugues Schmitt and Olivier Labesse). Committed Advisors was advised by Mayer Brown, according to press releases and MergerLinks data.

BNP Paribas Asset Management to acquire a 5.9% stake in Committed Advisors from Wendel.

BNP Paribas Asset Management, a Europe‑based global asset manager, agreed to acquire a 5.9% stake in Committed Advisors, a private investment firm, from Wendel, an investment company, according to press releases. Financial terms were not disclosed.

BNP Paribas Asset Management is advised by Prosek Partners (led by Matthieu Roussellier and Milo Larkin). Wendel is advised by Primatice (led by Olivier Labesse and Hugues Schmitt), according to press releases.

IK Partners to acquire Selatek from Amplio.

IK Partners, a private equity firm, agreed to acquire Selatek, a major Swedish technical installation platform, from Amplio, a Stockholm-based private equity firm, according to press releases. Financial terms were not disclosed.

IK Partners is advised by Vinge. Amplio is advised by ABG Sundal Collier, according to MergerLinks data.

Gemspring Capital-backed Shrieve Chemical completes the acquisition of FIS Chemicals.

Gemspring Capital-backed Shrieve Chemical, a global distributor and manufacturer of industrial and specialty chemicals, completed the acquisition of FIS Chemicals, a manufacturer and supplier of specialized industrial chemicals, according to press releases. Financial terms were not disclosed.

Shrieve Chemical was advised by Paul Weiss Rifkind Wharton & Garrison (led by Christopher Sullivan), according to MergerLinks data.

Belgium's Kpler launches minority stake sale valuing firm at up to $5bn. (Reuters)

Kpler, the Brussels‑based commodities data and analytics firm, has launched a process to sell a large minority stake that could value the company at up to $5bn. Existing shareholders Insight Partners and Five Arrows are running the process with Evercore, with sale materials expected to be distributed shortly.

The stake sale has attracted early interest from private‑equity firms and sovereign wealth funds, including Warburg Pincus, Blackstone, Hg, General Atlantic, GIC, Temasek and Mubadala. Kpler generates about $300m in annual recurring revenue, and founders François Cazor and Jean Maynier are expected to retain control of the business.

Ray-Ban heir steps up talks on €10bn buyout of siblings. (Bloomberg)

Leonardo Maria Del Vecchio, an heir to the EssilorLuxottica founder, is in advanced talks to buy out two siblings in a deal valuing the family holding company at about €10bn ($11.8bn). The transaction would involve acquiring a roughly 25% stake held by Luca and Paola Del Vecchio.

A preliminary agreement could be reached within weeks, potentially helping resolve long‑running succession issues following Leonardo Del Vecchio’s death in 2022. The buyout would consolidate control within the family’s stake in the Ray‑Ban owner, although discussions remain private and no final deal has been agreed.

VW to shortlist EQT Group, CVC, Bain for Everllence. (Bloomberg)

Volkswagen has shortlisted EQT, CVC Capital Partners, and Bain Capital for the next round of bidding for its heavy diesel‑engine unit Everllence. The move advances Volkswagen’s efforts to divest non‑core assets as it reshapes its industrial portfolio.

EQT is bidding alongside Porsche Automobil, the listed investment vehicle of the Porsche‑Piëch family, which controls Volkswagen. The bidding process remains private, and no final decision has been made on the sale or valuation of Everllence.

Naspers mulls options for South Africa’s historic ‘City Press’. (Bloomberg)

Naspers is reviewing strategic options for City Press, a long‑running South African newspaper. The media group is assessing whether to sell or shut down the title as it continues to streamline its portfolio.

The review is being led by Media24, Naspers’ local publishing arm, which has held early discussions with a consortium of local business figures about a potential sale. City Press ceased print publication in 2024, and there is no certainty that talks will result in a transaction.

APAC

Nippon Seiki to acquire Toyodenso for JPY49.9bn.

Nippon Seiki, a major Japanese manufacturer specializing in instrument clusters, head-up displays and sensors for automobiles and motorcycles, agreed to acquire Toyodenso, a Japanese manufacturer specializing in electrical and electronic components for the automotive, motorcycle and power product industries, for JPY49.9bn ($313m), according to press releases.

Toyodenso is advised by Mitsubishi UFJ Morgan Stanley Securities, according to MergerLinks data.

Exxon Mobil to consider sale of Hong Kong gas stations. (Bloomberg)

Exxon Mobil is considering a sale of its Hong Kong gasoline‑station network, as the US oil major continues to scale back its global retail presence. The company operates the stations under the Esso brand.

The assets could be valued at $500m–$600m, though discussions remain preliminary and no final decision has been taken. A sale would mark another step in Exxon’s broader strategy to streamline downstream operations in mature markets.

HSBC to shortlist Allianz, Sumitomo for Singapore insurer. (Bloomberg)

HSBC has narrowed bidders for its Singapore life insurance business to Allianz, Dai‑ichi Life, and Sumitomo Life. The shortlisted insurers are preparing binding offers for HSBC Life Singapore in the coming weeks as the sale process advances.

HSBC is seeking a valuation of up to $2bn for the unit. The divestment forms part of the bank’s broader strategy to streamline operations and focus on core markets, with Asia remaining a priority despite selective exits.

Glade Brook in talks to join Sarvam’s funding; AI startup may hit $1.5bn valuation. (Economic Times)

Sarvam AI, a Bengaluru‑based foundational model startup, is in advanced talks to raise $320m–$350m at a post‑money valuation of about $1.5bn. Glade Brook Capital is in discussions to join the round, potentially investing $20m–$25m, as Sarvam scales its India‑focused large‑language‑model platform.

The round is expected to include strategic investors Nvidia, Amazon and HCLTech, alongside financial backers Bessemer Venture Partners and Prosperity 7 Ventures, with existing investors Peak XV, Lightspeed, and Khosla Ventures also participating. Sarvam, founded in 2023, was last valued at $110m and is positioning itself as a provider of sovereign, India‑first AI models, amid surging investor interest in large‑scale AI companies.

Vietnam’s GSM Taxi Plans to Hold IPO in 2028. (Bloomberg)

Green & Smart Mobility, Vietnam’s ride‑hailing taxi company, plans to hold an IPO in the second half of 2028, founder Pham Nhat Vuong stated. The pre‑IPO process is expected to begin within the next two to three months.

GSM is 95% owned by Vuong, who is also chairman of Vingroup, with his wife Pham Thu Huong serving as chairwoman of GSM. Vuong did not specify the intended listing venue.

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