Holcim completes the acquisition of Xella from Lone Star Funds for €1.85bn.

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AMERICAS

Scorpion completes the acquisition of 1SEO Digital Agency from Skyharbor Capital.

Scorpion, a company specializing in digital marketing and technology solutions for local businesses, completed the acquisition of 1SEO Digital Agency, a Philadelphia-based digital marketing agency focused on home services, health, and legal industries, from Skyharbor Capital, a private investment firm, according to press releases. Financial terms were not disclosed.

1SEO Digital Agency was advised by Two Roads Advisors and Woodland Park Capital Advisors, according to press releases.

Accenture to acquire a majority stake in Dragos, runZero and NetRise at an enterprise value of $4.175bn.

Accenture, a company specializing in consulting, technology, and cybersecurity services, agreed to acquire a majority stake in Dragos, runZero and NetRise, companies focused on operational technology security, asset intelligence, and firmware security, at an enterprise value of $4.175bn, according to press releases.

NetRise is advised by Barclays, according to press releases and MergerLinks data.

Gloria Foods completes the acquisition of a 80% stake in the Argentina dairy division from Saputo for $400m.

Gloria Foods, a dairy and food holding company, completed the acquisition of a 80% stake in the Argentina dairy division from Saputo, a dairy processor, for $400m, according to press releases.

Saputo was advised by Jones Day (led by Faisal Delawalla), according to MergerLinks data.

Straive completes the acquisition of Nextgen Invent.

Straive, a company specializing in data and AI operationalization services, completed the acquisition of NextGen Invent, an AI enablement and technology services company, according to press releases. Financial terms were not disclosed.

Nextgen Invent was advised by Novistra Capital, according to press releases.

Insight Partners led a $65m Series C round in Gradial.

Insight Partners, a global venture capital and private equity firm, led a $65m Series C round in Gradial, an AI content operations platform built for enterprise marketing teams, with participation from VMG, Madrona, and PruVen, according to press releases.

Insight Partners was advised by Willkie Farr & Gallagher (led by Matthew Haddad), according to MergerLinks data.

JF Lehman & Company-backed Forged Solutions Group completes the acquisition of Custom Alloy.

JF Lehman & Company-backed Forged Solutions Group, a manufacturer specializing in high-quality forgings for aerospace, completed the acquisition of Custom Alloy, a manufacturer of forged components, according to press releases. Financial terms were not disclosed.

Rise Baking Company to acquire Jimmy's Gourmet Bakery.

Rise Baking Company, a company specializing in bakery products for in‑store bakeries and foodservice operators, agreed to acquire Jimmy’s Gourmet Bakery, a company focused on premium cookies and thaw‑and‑sell baked goods. Financial terms were not disclosed.

Lennox to acquire Heat Controller.

Lennox, a company specializing in energy‑efficient building and home comfort solutions, agreed to acquire Heat Controller, a company focused on HVAC equipment for distributors across North America. Financial terms were not disclosed.

Sterling Investment Partners-backed Verdantas completes the acquisition of Yu & Associates.

Sterling Investment Partners-backed Verdantas, a company specializing in digitally enabled technical consulting for the environment, water, and energy transition markets, completed the acquisition of Yu & Associates, a company focused on geotechnical engineering, environmental services, and civil engineering. Financial terms were not disclosed.

Alpine Investors-backed Oakline completes the acquisition of ResidentialOne and Professional Renovations.

Alpine Investors-backed Oakline, a company specializing in residential real estate investment and operations, completed the acquisition of ResidentialOne, an affordable housing property management company, and Professional Renovations, an affordable housing property management company, according to press releases. Financial terms were not disclosed.

Natural Capital led a $310m Series B round in Odyssey.

Natural Capital, a provider of innovative solutions company, led a $310m Series B round in Odyssey, an AI lab pioneering world models founded by self-driving car veterans, with participation from Amazon, AMD Ventures, GV, EQT, IQT, Jeff Dean, Elad Gil, Qasar Younis, Garry Tan, Guillermo Rauch, and Kyle Vogt, according to press releases.

MediaTek led a $80m Series C round in HyperLight.

MediaTek, a semiconductor company, led a $80m Series C round in HyperLight, a photonics company, with participation from UMC Capital, Jabil, Foxconn, EDBI, CDIB-TEN Capital, Qatar Investment Authority, Summit Partners, The Engine, Foothill Ventures, and Xora Innovation, according to press releases.

AbbVie closes in on nearly $11bn deal for Apogee Therapeutics. (FT)

AbbVie is closing in on a deal to buy inflammatory disease drug developer Apogee Therapeutics, in what would be the pharmaceutical group's biggest bolt-on acquisition in more than half a decade.

Under the terms being discussed, AbbVie would pay Apogee shareholders $10.9bn in cash, a roughly 60% premium to Apogee's closing share price on June 18.

Netflix under contract to buy LA studio lot taken by Goldman. (Bloomberg)

Netflix is under contract to buy Radford Studio Center, a historic Los Angeles movie studio space, for a fraction of its 2021 $1.85bn sale price.

Lenders including Goldman Sachs had repossessed the property. The price is close to $400m, with the transaction expected to close in the third quarter.

Lion Group signs MOU to acquire Aquila Hash. (Press Release)

Lion Group has entered into a non-binding agreement to acquire 100% of Aquila Hash, a US-based AI infrastructure platform company.

The proposed acquisition would expand Lion Group’s exposure to AI infrastructure, including data centers, GPU cloud platforms, AI factories and related services across global markets.

Ashland pushed to sell by activist Cruiser. (Bloomberg)

Cruiser Capital Advisors is pushing Ashland to sell itself, increasing pressure on the specialty chemicals company after another activist investor called for a sale earlier this month.

Ashland has attractive assets but lacks the scale to maximize shareholder value, Cruiser Capital told the company's board in a letter.

Global Auto plans Toronto IPO this year. (Bloomberg)

Global Auto Holdings, owner of UK car dealer Lookers, prepares an initial public offering in Toronto. It also owns Canada’s Alpha Auto Group and Nordic Wismo Group.

The company has expanded through acquisitions, including Mercedes Benz’s Berlin-Brandenburg branch in May, spanning seven locations and over 1.1k employees.

Standard Nuclear seeks US IPO as reactor fuel demand grows. (Bloomberg)

Standard Nuclear, a maker of fuel for nuclear reactors, filed for an initial public offering as power needs to fuel the artificial intelligence boom continue to grow.

The Oak Ridge, Tennessee-based company posted a net loss of $7.71m on revenue of $594k for the three months ended March 31, narrower than a year earlier.

Reformation prepares for summer IPO. (WSJ)

Reformation, the fast-growing womenswear retailer popular among celebrities, is getting ready to go public as soon as this summer.

The company could confidentially file for an IPO as soon as next week, with the goal of going public as soon as July, and is on track to generate more than $500m in revenue this year.

EMEA

Mutares to acquire the Acrylate Monomers business from Synthomer.

Mutares, a private equity investor, agreed to acquire the Acrylate Monomers business from Synthomer, a supplier of high-performance, highly specialised polymers and ingredients, according to press releases. Financial terms were not disclosed.

Mutares is advised by CROSS ALLIANCE communication (led by Susan Hoffmeister). Synthomer is advised by FTI Consulting (led by Nick Hasell), according to press releases.

Obayashi to acquire Multiplex from Brookfield for $650m.

Obayashi, a Japanese construction company, agreed to acquire Multiplex, a company operating construction businesses, from Brookfield Business Corporation, the flagship listed private equity vehicle of Brookfield Asset Management, for $650m, according to press releases.

Brookfield is advised by Jefferies & Company, according to MergerLinks data.

Bicycle Capital and Group 11 led a $260m funding round in Dream.

Bicycle Capital, an investment firm, and Group 11, a venture capital firm, led a $260m funding round in Dream, a sovereign AI and cyber defense company, with participation from Antler, Bain Capital Ventures and Tru Arrow Partners, according to press releases.

Dream was advised by Number 10 Strategies (led by Raoul Wootliff), according to press releases.

Wayflyer completes the acquisition of Conjura.

Wayflyer, a company specializing in revenue‑based financing and ecommerce financial tools, completed the acquisition of Conjura, an AI‑driven ecommerce analytics platform focused on consolidating operational data and generating predictive insights for merchants, according to press releases. Financial terms were not disclosed.

RWE near deal to boost stake in €10bn grid Amprion. (Bloomberg)

RWE is nearing a deal to boost its stake in Amprion by buying stakes from Swiss Life and a German pension fund, valuing the transmission grid operator at about €10bn ($11.5bn).

RWE is in late-stage talks to acquire Swiss Life's roughly 17% stake in M31, a holding company that owns 74.9% of Amprion, which transports electricity to about 29m people across western Germany.

Russia sells stake in seized top gold miner for $1.3bn. (Bloomberg)

Russia sold a top gold miner that it seized from a billionaire last year, though only after multiple attempts and for about half the price it originally sought.

Moscow-based BTS-Most Holding will acquire a 67.2% stake in Yuzhuralzoloto and its affiliated companies after winning a Dutch auction with a bid of RUB93bn ($1.3bn).

PPHE-Fattal $1.2bn hotel takeover talks collapse. (Reuters)

PPHE Hotel Group said a £921m ($1.2bn) takeover proposal from Fattal Hotel Group has fallen through after opposition from its largest shareholder.

Euro Plaza Holdings, which owns a 33% stake in PPHE, opposed the offer while the company continues its strategic review.

Absa raises stake in Kenyan unit to 85% via $239m tender. (Bloomberg)

Absa Group plans to raise its stake in its Kenyan unit to 85% through a $239m tender offer, underscoring its confidence in East Africa's growth prospects.

The Johannesburg-based lender will offer $0.26 per share for an additional 16.5% of Absa Kenya, a 20% premium to its 30-day volume weighted average price.

UniCredit lifts Commerzbank stake to 42.5% after offer period. (WSJ)

UniCredit secured control over 42.5% of Commerzbank after the close of an initial offer period, and plans to reopen its takeover bid for another two weeks.

The stake comprises a 26.77% direct holding, 12.51% in valid acceptances received during the offer period, and 3.22% held through financial contracts.

Germany's Uniper draws interest from around 10 bidders. (Bloomberg)

KKR, Japan's Jera and Canadian pension fund Caisse de dépôt et placement du Québec are among the bidders for state-owned Uniper, taking the field to around 10.

The new names emerged ahead of last Friday's bid deadline, joining Equinor, RWE and a Brookfield-led consortium with Canada Pension Plan Investment Board.

Brookfield leading bidding for Drahi's XpFibre business. (Bloomberg)

Brookfield Asset Management is emerging as the frontrunner to acquire a controlling stake in Patrick Drahi's French fiber optic company XpFibre. The New York-based investment firm has pulled ahead of rival bidders.

Brookfield is in advanced negotiations on terms of a potential deal and could reach an agreement in the coming weeks.

Newcastle United explored Arctos investment in club and stadium. (Bloomberg)

Newcastle United has held discussions with KKR-owned Arctos Partners about a potential investment in the Premier League club and its stadium.

The discussions remain at an early stage, and Newcastle has also approached other sports investors about possible backing.

Entain explores sale of CEE joint venture. (Reuters)

Entain has begun reviewing options for its Central and Eastern Europe joint venture, including a potential sale.

The Ladbrokes owner is exploring strategic alternatives as it seeks to reduce costs amid higher UK gambling taxes and pressure on its business.

Citi hires Deutsche Bank's Mansfield to lead EMEA M&A. (Reuters)

Citi has hired William Mansfield as head of M&A for the UK, Europe, Middle East and Africa from Deutsche Bank.

The hire continues Citi's recruitment drive since Viswas Raghavan joined from JP Morgan in 2024. Mansfield replaces Robin Rousseau and Barry Weir in the role.

APAC

L’Oréal to acquire a majority stake in Innovist from Amazon.com for $275m.

L’Oréal, the French beauty giant, agreed to acquire a majority stake in Innovist, an Indian beauty and personal care house of brands, from Amazon.com, a multinational technology company, for $275m, according to press releases.

Amazon is advised by Cyril Amarchand Mangaldas (led by Arpita Sengupta), according to MergerLinks data.

JTB Corp to acquire EXO Travel Group.

JTB Corp, a company specializing in global travel and tourism services, agreed to acquire EXO Travel Group, a company focused on destination management services across Asia Pacific, according to press releases. Financial terms were not disclosed.

Prestige Estates weighs stake sale over hospitality unit IPO. (Bloomberg)

Prestige Estates Projects is considering putting an IPO of its hospitality unit on hold and instead exploring a minority stake sale to private equity investors.

The Bengaluru-based developer has started discussions with potential investors to raise about $300m for Prestige Hospitality Ventures.

Hillhouse seeks $600m loan to fund DayOne investment. (Bloomberg)

Hillhouse Investment is in talks with banks for a loan of about $600m to fund its investment in data center operator DayOne Data Centers.

The three-year loan could carry an interest margin of 500 basis points over SOFR, with part of the borrowing also going toward refinancing debt raised by Hillhouse for its previous DayOne investment.

Tencent-backed fintech Uzum plans new funding round by year-end. (Bloomberg)

Uzbek fintech Uzum, backed by investors including Tencent Holdings, aims to hold another funding round to support rapid expansion plans ahead of a potential IPO.

Founder and chief executive officer Djasur Djumaev said an IPO could become a possibility over a two- to three-year horizon, with a private investment round planned by the end of this year.

Renault to abstain on Nissan board appointment. (FT)

Renault is to abstain on the appointment of a Nissan board member who was behind the push to merge the Japanese group with rival Honda.

Renault, which holds a 15% voting stake in Nissan, has governance concerns about board member Motoo Nagai's independence, citing his ties to Mizuho Financial Group and long tenure on the board.

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