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AMERICAS

EQT to acquire Range Resources for $13bn.

EQT, an integrated energy company, agreed to acquire Range Resources, an exploration and production firm, for $13bn, according to press releases.

EQT is advised by Citigroup, RBC Capital Markets and Kirkland & Ellis. Range Resources is advised by Evercore, JP Morgan and Gibson Dunn & Crutcher, Joele Frank (led by Andrew Siegel and Meaghan Repko), according to press releases.

Acuity to acquire Parameter Technologies for $675m.

Acuity, an industrial technology company, agreed to acquire Parameter Technologies, a monitoring and detection technology company, for $675m, according to press releases.

Acuity is advised by PJT Partners and Baker McKenzie. Debt financing is provided by Bank of America and JP Morgan. Parameter Technologies is advised by Lincoln International, Paul Hastings and Bospar, according to press releases.

SITA to acquire Flightscape from CAE for $500m.

SITA, a global aviation technology company, agreed to acquire Flightscape, an airline operations software business serving more than 90 airlines worldwide, from CAE, a Canadian aviation simulation and training company, for $500m, according to press releases.

SITA is advised by Rothschild & Co and Borden Ladner Gervais (BLG). CAE is advised by BMO Capital Markets, Citigroup and Norton Rose Fulbright, according to press releases and MergerLinks data.

Francisco Partners completes the acquisition of Weave for $650m.

Francisco Partners, a private equity firm, completed the acquisition of Weave, a SaaS company providing an AI-powered patient engagement and payments platform for healthcare practices, for $650m, according to press releases.

Francisco Partners was advised by Kirkland & Ellis (led by Michele M. Cumpston) and Prosek Partners. Weave was advised by Jefferies & Company (led by Pavan Gadiyaram and Ryan Plusch) and Orrick Herrington & Sutcliffe, according to press releases and MergerLinks data.

CopperPoint completes the acquisition of General Indemnity Group from Boston Omaha.

CopperPoint, a specialty insurance company, completed the acquisition of General Indemnity Group, an insurance holding company, from Boston Omaha, a publicly traded investment holding company, according to press releases. Financial terms were not disclosed.

CopperPoint was advised by PricewaterhouseCoopers and Troutman Pepper Locke. General Indemnity Group and Boston Omaha were advised by Propel Advisory Group and Gennari Aronson, according to press releases.

Cantilever Group completes a minority investment in Ghost Tree Partners.

Cantilever Group, a US investment firm specialising in GP stakes, completed a minority investment in Ghost Tree Partners, a US private credit manager providing senior-secured financing to lower-middle-market businesses, according to press releases. Financial terms were not disclosed.

Ghost Tree Partners is advised by Berkshire Global Advisors and Shartsis Friese. Cantilever Group is advised by Sidley Austin and Profile Advisors, according to press releases and MergerLinks data.

Ovintiv to acquire Logan Energy for $890m.

Ovintiv, an energy company, agreed to acquire Logan Energy, a high-growth Canadian energy company, for $890m, according to press releases.

Ovintiv is advised by RBC Capital Markets, Blake Cassels & Graydon (Blakes) and Paul Weiss Rifkind Wharton & Garrison (led by F. Adam Abulawi and Laura Turano), according to press releases and MergerLinks data.

Horizon Mutual Holdings to acquire Summit Health's New Jersey operations.

Horizon Mutual Holdings, the US nonprofit parent of Horizon Blue Cross Blue Shield of New Jersey, agreed to acquire Summit Health's New Jersey physician practices and CityMD urgent care centres, part of the VillageMD healthcare services business, according to press releases. Financial terms were not disclosed.

Horizon Mutual is advised by UBS, according to press releases and MergerLinks data.

Morgan Stanley Real Estate Investing completes the acquisition of a state-of-the-art logistics facility for $172.1m.

Morgan Stanley Real Estate Investing, a global private real estate investment management arm of Morgan Stanley, completed the acquisition of a state-of-the-art logistics facility for $172.1m, according to press releases.

The Center Brands and Mamina Turegano completes the acquisition of Boscia from FANCL.

The Center Brands, a beauty and wellness brand incubator, and Mamina Turegano completed the acquisition of Boscia, a skincare brand, from FANCL, a Japanese cosmetics and dietary supplements company, according to press releases. Financial terms were not disclosed.

Braskem creditors, shareholders move closer to $11bn debt deal. (Bloomberg)

Braskem’s creditors and shareholders are moving closer to an agreement to restructure about $11bn of debt, with both sides discussing a broader recapitalization of the Brazilian petrochemical group.

The proposals include a follow-on equity offering funded by existing shareholders and third-party investors, alongside a simultaneous debt-for-equity swap by creditors. The structure would inject fresh capital while reducing leverage through creditor ownership.

Meta seeks up to $95bn in equity to fund AI spending. (Bloomberg)

Meta Platforms is seeking to raise as much as $95bn of equity to support its AI investment program, including about $35bn through an offering of common and preferred stock.

The company also plans an at-the-market program of up to roughly $60bn using its planned Class C nonvoting shares, allowing it to sell stock gradually into the market as it finances its expanding AI infrastructure and development spending.

Anthropic submits long-awaited IPO filing. (SEC Announcement)

Anthropic has publicly filed for a Nasdaq IPO under the ticker ANT, bringing the Claude developer closer to becoming the first major frontier AI model company to list. The offering size and price range have not yet been disclosed.

The filing highlights broad risks tied to advanced AI, including potentially catastrophic or “existential” harms from misuse or unintended model behavior, alongside more conventional concerns around regulation, litigation, intellectual property, competition, and heavy spending on compute. Anthropic has also been scaling rapidly ahead of the offering, with revenue surging as enterprise adoption of Claude accelerates.

Town Lane raises $1.9bn for second real estate investment fund. (Press Release)

Town Lane has closed its second real estate opportunities fund at its $1.9bn hard cap, above its $1.5bn target and up from the $1.25bn raised for its debut fund in 2024. Investors include university endowments, foundations, family offices and pension funds, alongside strong participation from returning Fund I backers.

Fund II will pursue opportunistic investments across US commercial real estate and throughout the capital stack, with flexibility to invest into market dislocations and high-conviction themes. Town Lane has so far focused on senior housing, necessity retail, small-format industrial and powered-shell data centers.

EMEA

CMC and Asterion-backed Autobuses de Leon to acquire Mobico Group for £282.5m.

CMC and Asterion-backed Autobuses de Leon, an urban bus services firm, agreed to acquire Mobico Group, a UK-listed international passenger transport company, for £282.5m ($377.7m), according to press releases.

Mobico Group is advised by Bank of America (led by Justin Anstee and Edward Peel), Freshfields and Headland Consultancy (led by Matt Denham). Autobuses de Leon is advised by Caixabank, Santander and Latham & Watkins, according to press releases and MergerLinks data.

Apollo to acquire a minority stake in Mubadala Capital.

Apollo, an alternative investment manager, agreed to acquire a minority stake in Mubadala Capital, an asset management firm, according to press releases. Financial terms were not disclosed.

Apollo is advised by Morgan Stanley and Paul Weiss Rifkind Wharton & Garrison. Mubadala Capital is advised by Goldman Sachs, Jefferies & Company and Skadden Arps Slate Meagher & Flom, according to press releases.

Future Biogas completes the acquisition of the remaining 49% stake in six AD facilities from Foresight Environmental for £104m.

Future Biogas, a UK renewable energy company backed by 3i Infrastructure, completed the acquisition of the remaining 49% stake in a portfolio of six anaerobic digestion facilities from Foresight Environmental Infrastructure, a renewable infrastructure investment company, for £104m ($139m), according to press releases.

Foresight was advised by Apex Fund and Corporate Services, Investec (led by David Yovichic), Winterflood Securities (led by Neil Langford) and FTI Consulting, according to press releases and MergerLinks data.

Stryker completes the acquisition of ZuriMED.

Stryker, an American multinational medical technologies corporation, completed the acquisition of ZuriMED, a medical technology company, according to press releases. Financial terms were not disclosed.

Stryker was advised by Lenz & Staehelin (led by Tino Gaberthuel). ZuriMED was advised by Deutsche Bank, according to press releases and MergerLinks data.

Odin Group-backed Previder completes the acquisition of Wanstor.

Odin Group-backed Previder, a Dutch managed IT services provider, completed the acquisition of Wanstor, a UK provider of managed IT services, cloud computing, cybersecurity and workplace technology solutions, according to press releases. Financial terms were not disclosed.

Wanstor was advised by Clearwater and Whiteoaks International, according to press releases and MergerLinks data.

KONE tries to limit asset sales as it seeks Brussels’ approval for €29bn megadeal. (FT)

KONE is seeking to retain TK Elevator’s Spanish and Portuguese operations as it negotiates remedies with Brussels for its €29.4bn ($34.4bn) acquisition of the German elevator maker, potentially narrowing the European asset disposals previously expected to secure antitrust approval.

Kone had been preparing to sell most of TK Elevator’s European operations, a package potentially worth €5bn ($5.9bn) or more, with Mitsubishi Electric and EQT-backed Fujitec among interested buyers. Keeping the Iberian businesses could preserve more of Kone’s targeted €700m ($819m) in annual synergies, but would leave regulators assessing a more concentrated market in Spain and Portugal.

Belgian deputy prime minister open to BNP Paribas stake sale. (Bloomberg)

Belgian Deputy Prime Minister David Clarinval stated that he would be open to selling part or all of the country’s 5.7% stake in BNP Paribas, describing the holding as non-strategic and a significant source of potential proceeds.

Clarinval said the idea had not recently been discussed by Belgium’s governing coalition, indicating that any disposal remains a political option rather than an active sale process.

UK ends talks with Canada to merge defense financing banks. (Bloomberg)

The UK and Canada have abandoned negotiations to combine their defense financing institutions after failing to agree on where the joint bank would be based and the terms for admitting future members.

UK Chancellor John Healey will instead proceed with a separate Multilateral Defence Mechanism headquartered in Europe.

Frasers Group to make Hugo Boss a subsidiary after taking majority ownership. (WSJ)

Frasers Group has increased its stake in Hugo Boss to 50.08% from 48.8% through a €7.6m ($8.5m) share purchase, giving the UK retailer majority ownership of the German premium-apparel company.

The move means Hugo Boss will become a Frasers subsidiary, allowing the group to consolidate its earnings, assets and liabilities. Frasers has spent years building its stake and had previously launched a takeover offer that increased its ownership but stopped short of majority control.

Iberdrola weighs Polish unit sale for up to €400m. (Bloomberg)

Iberdrola is considering selling its entire Polish business and is working with advisers on a potential divestment.

The Spanish utility owns five onshore wind farms in Poland and estimates the assets could be worth as much as €400m ($448m), as it reviews its portfolio in the country.

Kenya’s Quickmart IPO draws two more cornerstone investors. (Bloomberg)

Quickmart has secured applications from two additional cornerstone investors for its Nairobi Securities Exchange IPO, bringing the total number of cornerstone backers to four.

RWC Asset Management, part of Redwheel Group, has applied for about KES1.3bn ($10m) of shares, equivalent to roughly 4.3% of Quickmart’s post-listing share capital. The deal is part of the supermarket chain’s ongoing IPO process.

APAC

L Catterton completes the investment in Glance.

L Catterton, a private equity firm, completed the investment in Glance, a consumer technology company, according to press releases. Financial terms were not disclosed.

Glance was advised by Berns & Co. (led by Michael J. McMullan), according to press releases.

IDG leads race for ASMPT’s SMT unit valued at over $1bn. (Reuters)

IDG Capital has emerged as the most advanced bidder for ASMPT’s surface-mount technology business, with a deal potentially valuing the unit at more than $1bn. ASMPT is seeking about $1.5bn, although prospective buyers may fall short of that target, and an agreement could be reached in the coming weeks.

FountainVest Partners and Triton Partners have also shown interest in the business, which supplies equipment and software used in electronics assembly for end markets including AI servers, optical transceivers and electric vehicles. ASMPT began reviewing strategic options for the unit in January as it looks to sharpen its focus on semiconductor solutions and chip packaging.

Hang Seng investment arm to merge with HSBC’s asset business. (Reuters)

HSBC plans to fold Hang Seng Investment Management into HSBC Asset Management, marking the first major business-line integration since HSBC completed its $13.6bn take-private of Hang Seng Bank in January 2026.

HSBC Asset Management oversees about $876bn, while Hang Seng Investment Management manages roughly $50bn. The move would combine the businesses despite HSBC’s earlier commitment to maintain the two banks as separate brands.

SoftBank’s Son plans $50bn Malaysia tech outlay. (Bloomberg)

SoftBank founder Masayoshi Son has selected locations in Malaysia for up to $50bn of technology investments, as the Japanese group expands its global AI infrastructure push.

The planned projects would include data centers and could make Malaysia a larger hub in SoftBank’s AI build-out. Anwar said Son disclosed the site selections during a videoconference, while SoftBank had not commented on the plans.

Chinese PCB maker Dongshan raises $1.3bn in Hong Kong listing. (Bloomberg)

Suzhou Dongshan Precision Manufacturing raised about HKD9.9bn ($1.3bn) in Hong Kong by selling roughly 113.8m shares at HKD86.80 ($11.20) each, below the maximum marketed price of HKD93.80 ($12.10). The company did not exercise its upsize option.

The printed circuit board maker is due to start trading on October 28, with the offer priced at about a 35% discount to its Shenzhen-listed shares. The deal is Hong Kong’s largest listing in nearly two months and comes amid volatile trading in companies exposed to AI infrastructure spending.

Eloelo in talks to raise $50m-$60m at $400m valuation. (The Economic Times)

Live social entertainment platform Eloelo is in advanced talks to raise $50m-$60m, or about INR4.8bn-INR5.8bn ($50m-$60m), in a round led by Hornbill Capital with participation from existing investors.

The funding would value Eloelo at around $400m and follows rapid growth at its micro-drama business Story TV, which has helped increase annualised collections by more than 10 times.

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