Google to acquire Wiz for $32bn.

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

DispatchHealth to merge with Medically Home.

DispatchHealth, an urgent care center, agreed to merge with Medically Home, a hospital in Boston, according to press releases. Financial terms were not disclosed.

DispatchHealth is advised by MTS Health Partners, Polsinelli PC and Wilson Sonsini Goodrich & Rosati (led by Jason Breen and Matt Dubofsky). Medically Home is advised by Cooley, according to press releases.

GIC completes the minority investment in Cimed.

GIC, Singapore's Sovereign Wealth Fund, completed the minority investment in Cimed, a pharmaceutical firm that provides vitamins and nutrition, beauty and hygiene, medicines, and dermo-cosmetic products, according to press releases. Financial terms were not disclosed.

Cimed was advised by JP Morgan and Spinelli Advogados, according to MergerLinks data and press releases.

Merit Financial Advisors completes the acquisition of Sanctuary Wealth Management and Fiduciary Services for $1.6bn.

Wealth Partners Capital-backed Merit Financial Advisors, a Georgia-based financial advisory firm, completed the acquisition of Sanctuary Wealth Management, a financial planner, and Fiduciary Services, a financial services company, for $1.6bn, according to press releases.

Merit Financial Advisors was advised by Alaris Acquisitions, according to press releases.

Cook & Boardman completes the acquisition of Building Material Supply.

Cook & Boardman, a provider of fully integrated access and security solutions, completed the acquisition of Building Material Supply, a building materials store, according to press releases. Financial terms were not disclosed.

Cook & Boardman was advised by K&L Gates, according to press releases.

Pay Ready completes the acquisition of Buzz.

Pay Ready, a financial services company, completed the acquisition of Buzz, an innovative AI-driven rent collections company, according to press releases. Financial terms were not disclosed.

Walgreens Chair Pessina to increase stake after $10bn Sycamore takeover. (Financial Times)

Walgreens Boots Alliance Executive Chair Stefano Pessina will nearly double his stake in the US pharmacy group to 30% as part of its $10bn acquisition by private equity firm Sycamore.

Pessina, currently Walgreens’ largest shareholder with 17%, will inject additional capital into the company as part of the deal.

Strategy plans $500m preferred stock sale to buy Bitcoin. (Bloomberg)

Strategy is set to issue $500m in dollar-denominated perpetual preferred stock.

The enterprise software company, formerly MicroStrategy, plans to use the proceeds for general corporate purposes, including Bitcoin acquisitions and working capital.

ProSieben delays General Atlantic deal amid takeover speculation. (PE Insights)

ProSieben’s supervisory board has postponed a decision on a deal that would grant General Atlantic a minority stake, instructing management to renegotiate terms before reconsideration.

The delay adds uncertainty to ProSieben’s asset restructuring, closely watched by private equity investors. General Atlantic, a co-investor in the broadcaster’s digital portfolio, holds stakes in Verivox, Flaconi, and ParshipMeet Group. ProSieben has been working to divest these assets, but General Atlantic’s blocking rights have complicated sales.

EMEA

Mirova to invest €50m in GreenWay.

Mirova, an investment manager dedicated to sustainable investing, agreed to invest €50m ($55m) in GreenWay, an electric vehicle charging service provider, according to press releases.

GreenWay is advised by Rothschild & Co, AKF Legal, Athena Legal, WKB Wiercinski Kwiecinski Baehr, Wozniak Legal and Deloitte, according to MergerLinks data and press releases.

Trasna to acquire Cellular business of u-blox.

Trasna, a global technology company specializing in semiconductor and mobile IoT solutions, agreed to acquire Cellular business of u-blox, a global provider of positioning and wireless communication technologies and services, according to press releases. Financial terms were not disclosed.

u-blox is advised by Rothschild & Co, according to MergerLinks data and press releases.

TA Associates-backed SER Group completes the acquisition of Klippa.

TA Associates-backed SER Group, a vendor in the global document management market company, completed the acquisition of Klippa, a software company, according to press releases. Financial terms were not disclosed.

Kyivstar valued at $2.2bn in Cohen SPAC deal. (Bloomberg)

Veon has reached an agreement to list Kyivstar in New York, valuing Ukraine’s largest mobile network operator at $2.2bn.

The company will debut on Nasdaq under the ticker KYIV through a merger with Cohen Circle. Veon will retain at least 80% of Kyivstar shares after the deal, expected to close in the third quarter. A letter of intent with Cohen Circle was signed in January.

Indian billionaire Mittal considers increasing BT stake. (Financial Times)

Sunil Bharti Mittal is weighing an increase in his BT holding after acquiring a 24.5% stake in the UK telecoms company last year.

Mittal, who bought the stake from Patrick Drahi’s Altice in August, has indicated privately that he may expand his position through Bharti Enterprises as BT continues its restructuring and cost-cutting efforts under CEO Allison Kirkby.

Belgian financial firm Belfius to invest in NATO defense companies. (Reuters)

Belfius, Belgium’s state-owned financial firm, plans to invest in defense companies based in NATO countries as fund managers capitalize on Europe’s rearmament efforts amid the Russia-Ukraine war.

The firm stated that its focus on NATO-based defense companies provides a clear investment framework, emphasizing the alliance’s role as Europe’s key strategic partner in defense.

APAC

Grab is said to move forward with talks to buy rival Goto. (Bloomberg)

Grab is progressing with its bid to acquire GoTo Group, as the Indonesian firm confirmed that the Singapore-based ride-hailing and delivery company has commenced due diligence.

Grab has been reviewing GoTo’s financial records, contracts, and operations, while both companies and their shareholders are also evaluating the potential structure and valuation of a possible deal.

China reviews Li Ka-shing’s Panama port deal. (Bloomberg)

Chinese authorities are examining CK Hutchison Holdings’ sale of its overseas port businesses amid concerns that the Hong Kong conglomerate divested its Panama operations under US pressure.

Multiple Chinese agencies, including the State Administration of Market Regulation (SAMR), have been directed by senior state leaders to assess the deal for potential security risks or antitrust violations.

India approves LG Electronics’ $1.5bn IPO. (Bloomberg)

India’s market regulator has approved LG Electronics’ application for an IPO of its Indian unit, a deal that could raise $1.5bn and rank among the country’s largest listings this year.

The Securities and Exchange Board of India disclosed the approval, following LG’s filing in December.

Daily Review

Connect the World of Dealmakers