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Top Highlights
Investor Group completed the merger with Alexander & Baldwin, a commercial real estate investment trust, in a $2.3bn deal, according to press releases.
Alexander & Baldwin was advised by Bank of America, Cades Schutte, Skadden Arps Slate Meagher & Flom (led by Micah Kegley and Marc Gerber), Cleary Gottlieb Steen & Hamilton (led by Charlie Allen), and Joele Frank (led by Eric Brielmann). Blackstone Real Estate was advised by Eastdil Secured, Wells Fargo Securities, Carlsmith Ball, Simpson Thacher & Bartlett (led by Brian Stadler), and Bennet Group. DivcoWest was advised by Gibson Dunn & Crutcher (led by David Perechocky), McDermott Will & Schulte, and A2N2 Public Relations. MW Group was advised by Schneider Tanaka Radovich Andrew & Tanaka, and Bennet Grou, according to press releases and MergerLinks data.
QUADRIVIO GROUP, an alternative investment firm, agreed to acquire a majority stake in Les Secrets de Loly, a French brand specialized in products for wavy, curly, coily, frizzy and afro-textured hair, from Quilvest Capital Partners, a global investment firm, with participation from Weinberg Capital Partners and Three Hills, according to press releases. Financial terms were not disclosed.
Les Secrets de Loly is advised by Alvarez & Marsal, Boston Consulting Group (BCG), Jefferies, Scalene Partners, AEF Avocats à la Cour, Jeausserand Audouard and Mayer Brown. Quadrivio is advised by EY-Parthenon, Interpath, Rothschild & Co, Hogan Lovells and Jeantet - avocats, according to MergerLinks data and press releases.
Eaton, an intelligent power management company, completed the acquisition of the thermal business from Goldman Sachs-backed Boyd, a global innovator in engineered materials and thermal solutions, for $9.5bn, according to press releases.
Eaton was advised by Jefferies & Company (led by Mark Hudson) and Paul Weiss Rifkind Wharton & Garrison (led by Dotun Obadina). Boyd was advised by Goldman Sachs, JP Morgan (led by Ked Fisseha), Davis Polk & Wardwell (led by John D. Amorosi) and ICR Inc (led by Devin Broda), according to MergerLinks data and press releases.
AMERICAS
Besi is attracting takeover interest as demand for advanced chip‑packaging technology accelerates. ( Reuters)
Dave’s Hot Chicken, supported by Drake, is weighing a sale of its European operations. ( Bloomberg)
América Móvil intends to acquire telecom assets from Grupo Salinas. ( Press Release)
Papa John’s draws fresh takeover interest from a Qatari‑backed fund. ( WSJ)
Tesla converts its xAI holding into a SpaceX share as the IPO approaches. ( Bloomberg)
EMEA
VW’s Everllence sale depends on Porsche SE joining as a co‑investor. ( Reuters)
Glencore sees renewed potential to revive its deal with Rio Tinto as coal prices shift. ( Reuters)
Abivax says French reports of an AstraZeneca takeover are unfounded. ( Reuters)
APAC
India plans to cancel the process to sell a majority stake in IDBI Bank. ( Reuters)
NSE selects banks and law firms to prepare for its $2.5bn listing. ( Bloomberg)
AI‑driven drug discovery startup Earendil is reportedly weighing a Hong Kong IPO. ( Bloomberg)
Singtel’s venture arm unveils $250m fund to boost AI use. ( DealStreetAsia)
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COMPANIES
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ServBanc Holdco, an Arizona corporation and registered bank holding company for Servbank, completed the acquisition of IF Bancorp, the holding company for Iroquois Federal, for $89.8m, according to press releases.
IF Bancorp was advised by Keefe Bruyette & Woods, Stifel, and Luse Gorman. ServBanc was advised by Performance Trust Capital Partners, and Hunton Andrews Kurth (led by Beth Whitaker, Taylor Williams, Peter Weinstock and D. Wil Gould) , according to MergerLinks data and press releases
Oaktree Capital Management, a global asset management firm, agreed to acquire a majority stake in Atlantic Coast Life Insurance, a provider of life insurance and annuity products, from Advantage Capital Holdings, an insurance and financial services company, according to press releases. Financial terms are not disclosed.
Oaktree is advised by Goldman Sachs, and Debevoise & Plimpton. A-CAP is advised by Moelis & Co, Michelman & Robinson, and Croke Fairchild Duarte & Beres, according to press releases.
Mountain Commerce Bancorp, the holding company for Mountain Commerce Bank, announced its shareholders had voted in favor of the proposed merger with Home Bancshares.
Subject to the satisfaction of the remaining closing conditions contained in the merger agreement, the Company's proposed merger with Home Bancshares is expected to close early in the second quarter of 2026.
Mountain Commerce is advised by Piper Sandler and Bass Berry & Sims. Home Bancshares is advised by DD&F Consulting Group, Hovde Group and Mitchell Williams Selig Gates & Woodyard, according to MergerLinks data and press releases.
Agero, a provider of digital driver assistance services and software, agreed to acquire Urgent.ly, a technology focused provider of roadside and mobility assistance, according to press releases. Financial terms are not disclosed.
Urgent.ly is advised by Seaport Global Securities, and Wilson Sonsini Goodrich & Rosati. Agero is advised by Evercore, and Morgan Lewis & Bockius, according to press releases.
Charlesbank Capital Partners, a private equity investment firm, agreed to invest in Overbay Capital Partners, an alternative asset manager focused on the secondaries market, according to press releases. Financial terms are not disclosed.
Overbay Capital Partners is advised by Goodmans. Charlesbank Capital Partners is advised by Kirkland & Ellis, Stikeman Elliott, and Prosek, according to press releases.
IHC-backed Judan Financial, an AI-enabled North Star platform for global financial services, completed the acquisition of a 50.1% stake in Alpha Wave Global, an investment management firm, according to press releases. Financial terms were not disclosed.
Alpha Wave was advised by Paul Hastings (led by Chad Vance). Judan Financial was advised by Skadden Arps Slate Meagher & Flom (led by Andrea Spadacini), according to MergerLinks data and press releases.
Abacus Global Management, a financial services company, agreed to acquire a minority stake in Manning & Napier, a diversified wealth and asset management firm, for $53m, according to press releases.
Manning & Napier is advised by Berkshire Global Advisors, and Morgan Lewis & Bockius, according to press releases.
Premise Health, a direct healthcare company, opearting onsite and nearsite wellness centers for employers, unions, and health plans, completed the merger with Crossover Health, a national medical group delivering advanced primary health, according to press releases. Financial terms were not disclosed.
Bitmine, a digital asset and technology company, ARK Invest, an investment management firm, and Kraken, a cryptocurrency exchange, agreed to invest $125m in Eightco Holdings, an investment company pivoting toward AI-driven digital identity, blockchain infrastructure, and high-conviction digital assets, according to press releases.
Eightco is advised by Winston & Strawn (led by Michael Blankenship), according to MergerLinks data.
Hale Capital, a private equity firm, completed the acquisition of APEX Analytics, a real estate technology company, according to press releases. Financial terms were not disclosed.
Besi is attracting takeover interest as demand for advanced chip‑packaging technology accelerates. ( Reuters)
BE Semiconductor Industries has drawn takeover interest as its chip‑packaging technology becomes increasingly strategic for semiconductor equipment makers.
The Amsterdam‑listed company, valued at €14bn ($16.2bn), has been working with Morgan Stanley to assess the approaches.
Dave’s Hot Chicken, supported by Drake, is weighing a sale of its European operations. ( Bloomberg)
Dave’s Hot Chicken — the fried‑chicken chain backed by Canadian rapper Drake — is exploring a sale of its European franchise.
Azzurri Group, the private‑equity‑owned operator behind Zizzi and Coco di Mama, is preparing to put the UK and European rights to Dave’s Hot Chicken on the market later this year.
América Móvil intends to acquire telecom assets from Grupo Salinas. ( Press Release)
Mexico’s América Móvil is seeking to acquire parts of Grupo Salinas’ telecom operations in Colombia as it looks to expand its regional footprint.
Papa John’s draws fresh takeover interest from a Qatari‑backed fund. ( WSJ)
A Qatari‑backed investment fund has submitted a bid to take pizza chain Papa John’s International private.
Papa John’s is reviewing the offer from Irth Capital Management, which is backed by Brookfield Asset Management.
Tesla converts its xAI holding into a SpaceX share as the IPO approaches. ( Bloomberg)
Tesla has received regulatory approval to convert its investment in Elon Musk’s xAI into a small stake in SpaceX, tightening the financial links between Musk’s two largest companies ahead of SpaceX’s anticipated IPO.
Filings with the US Federal Trade Commission list Tesla as acquiring a stake in SpaceX from Musk, who leads both firms. The March 11 documents also show Musk selling shares to investors including Valor Equity Partners and DFJ Growth.
EMEA
Motive Partners, a private investment firm, and Apollo, a global alternative asset manager, completed the merger with Alchelyst, a full-service fund administrator, and Lyra Client Solutions, a client servicing organization, according to press releases. Financial terms were not disclosed.
SYCLEF, an international player specializing in commercial refrigeration, industrial refrigeration, and air conditioning, agreed to acquire Quinn Downes, an Irish group specializing in HVAC installations, according to press releases. Financial terms were not disclosed.
Quinn Downes is advised by DC Advisory (led by Raymond Donegan), according to MergerLinks data.
Italian yacht maker Ferretti said that an independent financial adviser has deemed Czech investment group KKCG’s proposal to double its stake in the company “not attractive.”
Ferretti added that the independent board committee reviewing the bid agreed with the adviser’s assessment and has recommended that independent shareholders reject the offer.
VW’s Everllence sale depends on Porsche SE joining as a co‑investor. ( Reuters)
Volkswagen plans to sell a majority stake in its Everllence unit only if Porsche takes roughly a 10% co‑investment.
Although VW has been courting rival bidders for months, it had not been known that Porsche — the Porsche‑Piëch families’ holding company and VW’s controlling shareholder — is effectively assured a smaller stake.
Glencore sees renewed potential to revive its deal with Rio Tinto as coal prices shift. ( Reuters)
Glencore CEO Gary Nagle is betting that the recent jump in coal prices will entice Rio Tinto back into talks for a renewed attempt at creating the world’s largest mining group.
Earlier this year, the two sides explored a merger that would have formed a $240bn giant by combining Glencore’s marketing operations and copper assets with Rio Tinto’s operational strengths to meet rising demand for the metal.
Abivax says French reports of an AstraZeneca takeover are unfounded. ( Reuters)
Biotech firm Abivax on March 12 rejected a report from French outlet La Lettre claiming it had given AstraZeneca exclusive access to confidential data until March 23 to prepare a takeover bid.
‘We deny the information — these are unfounded rumors,’ Abivax.
APAC
Korean Air, the flag carrier of South Korea, agreed to acquire the remaining 80% stake in its in-flight catering and duty-free retail operations from Hahn & Co, a private equity investment firm, for $510m, according to press releases.
Korean Air is advised by UBS, according to MergerLinks data.
India plans to cancel the process to sell a majority stake in IDBI Bank. ( Reuters)
India plans to scrap the bids it received for a majority stake in IDBI Bank after offers came in below the government’s minimum price expectations.
The government and state‑owned Life Insurance Corporation of India had launched the sale of their combined 60.7% stake in the lender in 2022.
NSE selects banks and law firms to prepare for its $2.5bn listing. ( Bloomberg)
The National Stock Exchange of India has chosen 20 banks to work on its long‑awaited IPO.
The lineup includes Kotak Mahindra Capital, JM Financial, Axis Capital, and the Indian arms of Morgan Stanley, Citigroup, JPMorgan, and HSBC.
AI‑driven drug discovery startup Earendil is reportedly weighing a Hong Kong IPO. ( Bloomberg)
Earendil Labs, an AI‑driven biotech startup, is weighing a potential Hong Kong listing.
The company is working with China International Capital and Morgan Stanley on a share sale that could raise up to $500m.
Singtel’s venture arm unveils $250m fund to boost AI use. ( DealStreetAsia)
Singtel Innov8, the corporate venture arm of Singtel Group, has announced a $250m AI Growth Fund to invest in high-growth AI startups globally and accelerate applied AI deployment across the group. The fund, which adds to Innov8's existing $250m evergreen fund, will target growth-stage AI companies in areas such as customer engagement, network operations, cybersecurity, IT automation, and enterprise Al platforms.
Beyond capital, Innov8 will facilitate collaborations between portfolio companies and Singtel Group units to test and scale solutions in real-world environments.
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