|
Top Highlights
KingSett Capital, a private equity firm, and Choice Properties, a real investment trust, agreed to acquire First Capital REIT, a Canadian owner, operator, and developer of grocery anchored open air centres, for CAD9.4bn ($6.8bn), according to press releases.
First Capital is advised by National Bank Capital Markets, RBC Capital Markets, Stikeman Elliott and Gagnier Communications (led by Riyaz Lalani and Dan Gagnier). Choice Properties is advised by TD Securities, McCarthy Tetrault, Osler Hoskin & Harcourt and Edelman (led by Jordan Fisher). KingSett Capital is advised by Desjardins, Bennett Jones and FGS Global (led by David Ryan). Debt financing is provided by Desjardins and TD Securities, according to press releases.
Uranium Royalty, an uranium-focused royalty and streaming company, agreed to merge with Sweetwater Royalties, a base metals and industrial minerals royalty company, in a $1.9bn deal. Following the merger, Sweetwater’s shareholders, including Orion and Ontario Teachers’ Pension Plan, will receive equity in the combined company and become significant shareholders, according to press releases.
Sweetwater Royalties is advised by Rothschild & Co. Orion Resource Partners is advised by Sidley Austin and Torys. Ontario Teachers' Pension Plan Board is advised by Torys and Weil Gotshal and Manges (led by James Griffin). Uranium Royalty is advised by Goldman Sachs, National Bank Capital Markets, Paradigm Capital, Haynes and Boone, Holland & Hart and Sangra Moller, according to press releases.
Organigram, a licensed producer of cannabis, completed the acquisition of the remaining shares in Sanity Group, a European cannabis health and life-sciences company, for up to €227.2m ($268m). British American Tobacco, a shareholder in both companies, received its payment in Organigram stock instead of cash, according to press releases.
AMERICAS
Netflix earnings put a focus back on basics as M&A overhang clears. ( Bloomberg)
Abbott Laboratories cuts profit forecast in the wake of cancer screening deal. ( Bloomberg)
Sun Pharma and Grünenthal to vie for US-listed Organon. ( Bloomberg)
Canada's Cineplex is gauging interest from potential buyers. ( Bloomberg)
Nuclear reactor developer X‑Energy targets $7.5bn valuation in US IPO. ( Reuters)
Madison Air prices the biggest US industrial IPO in nearly 27 years. ( Bloomberg)
Aerospace and defense parts maker Arxis raises $1.13bn in IPO. ( Bloomberg)
Plata hits $5bn valuation in bicycle capital-led funding. ( Bloomberg)
Topspin Consumer Partners closes oversubscribed Fund III at $328m. ( Business Wire)
EMEA
UK retailer JD Sports sells entire Applied Nutrition stake for $66.5m. ( Reuters)
KKR and Apollo are among the potential suitors for Portugal's Logoplaste. ( Bloomberg)
The Bouygues-led group is in advanced talks on a deal for SFR. ( Bloomberg)
The financier atop London's property market. ( FT)
Johnson Controls said to weigh $4.5bn in divestitures. ( Bloomberg)
Millicom eyeing Peru and Venezuela after other Latin America deals. ( Bloomberg)
APAC
Elliott takes a stake in Japan's Daikin and calls for higher returns. ( Reuters)
Sigenergy jumps 103% in Hong Kong debut after $562m IPO. ( Bloomberg)
|
COMPANIES
INVESTORS
FINANCIAL ADVISORS
LEGAL ADVISORS
PR ADVISORS
DEBT PROVIDERS
|
|
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
Eurobio Scientific, a French group specializing in-vitro medical diagnostics for transplantation, oncology and infectious diseases, agreed to acquire the Lab Product division of CareDx, a US global precision medicine company focused on transplantation for $170m, according to press releases.
Eurobio Scientific was advised by Kahn Partners and TD Cowen. CareDx was advised by Rothschild & Co and Fenwick & West, according to press releases.
Diginex, a provider of Sustainability RegTech solutions, agreed to acquire Resulticks, a provider of AI-driven customer engagement and data management solutions, for $1.5bn, according to press releases.
Diginex is advised by Kirchhoff Consult (led by Anna Höffken), Lambert by LLYC (led by Jackson Lin) and Strategic Public Relations (led by Shelly Cheng), according to press releases.
Warburg Pincus and Masked Rider Capital-backed Service Compression, a provider of natural gas compression services, completed the acquisition of Axip Energy Services, a provider of natural gas compression services, according to press releases. Financial terms were not disclosed.
Service Compression was advised by Moelis & Co and Willkie Farr & Gallagher. Debt financing was provided by JP Morgan, according to press releases.
One Call, a technology-enabled provider in ancillary services and care management, completed the acquisition of Data Dimensions, an electronic data interchange clearinghouse and technology services provider, from Thompson Street Capital, a private equity firm, according to press releases. Financial terms were not disclosed.
One Call was advised by Moelis & Co and Davis Polk & Wardwell, according to press releases.
Uber, an American multinational transportation company, and PIF, the sovereign wealth fund of Saudi Arabia, completed a $750m investment in Lucid, an American automotive and technology company, according to press releases.
Lucid was advised by O'Melveny & Myers (led by Adit Khorana and Sean Kwak), according to MergerLinks data.
George Weston, a major Canadian public holding company specializing in food processing, distribution and real estate, completed a CAD600m ($436m) investment in Choice Properties REIT, a real estate investment trust, according to press releases.
Skild AI, a technology company, completed the acquisition of the robotics automation business of Zebra Technologies, a provider of solutions such as barcode printers, scanners, RFID technology, handheld computers, according to press releases. Financial terms were not disclosed.
Netflix earnings put a focus back on basics as M&A overhang clears. ( Bloomberg)
The streaming giant’s shares have risen more than 30% since late February, making it one of the top performers in the S&P 500 over that period. Despite the rebound, the stock remains about 20% below its record high set in June 2025. Meanwhile, Paramount Skydance has gained about 6% since winning the Warner Bros. bidding process, while Warner Bros. Discovery is down roughly 5.7%.
Abbott Laboratories cuts profit forecast in the wake of cancer screening deal. ( Bloomberg)
Abbott Laboratories shares fell after the company cut its full-year profit guidance, reflecting the impact of a $21bn cancer-screening deal completed in 2025 aimed at strengthening its diagnostics business.
The company now expects adjusted earnings of $5.38 to $5.58 per share, down from its previous forecast of $5.55 to $5.80 per share, while maintaining its outlook for comparable sales growth of 6.5% to 7.5% for the year.
Sun Pharma and Grünenthal to vie for US-listed Organon. ( Bloomberg)
Sun Pharmaceutical Industries and Germany’s Grünenthal are among companies preparing potential bids for Organon, a New York-listed women’s healthcare company.
Both firms are working with advisers on possible binding offers that could be submitted in the coming weeks. Discussions are ongoing and may not result in a transaction.
Canada's Cineplex is gauging interest from potential buyers. ( Bloomberg)
Cineplex, Canada’s movie‑theater operator, is exploring a potential sale as it considers combining with an industry rival.
Chief executive Ellis Jacob has approached peers including Regal Cineworld Group and Cinemark Holdings to assess interest in a possible transaction. Any discussions remain at an early stage and may not result in a deal.
Nuclear reactor developer X‑Energy targets $7.5bn valuation in US IPO. ( Reuters)
Amazon-backed X-Energy is targeting a valuation of up to $7.51bn in its US initial public offering.
The Maryland-based nuclear reactor developer is seeking to raise as much as $814.3m by offering about 42.9m shares priced between $16 and $19 each.
Madison Air prices the biggest US industrial IPO in nearly 27 years. ( Bloomberg)
Madison Air Solutions raised $2.23bn in its US initial public offering, marking the largest listing by an industrial company in nearly three decades.
The Chicago-based ventilation and filtration systems provider sold 82.7m shares at $27 each, at the top of its marketed range of $25 to $27, with the offering reported to be multiple times oversubscribed.
Aerospace and defense parts maker Arxis raises $1.13bn in IPO. ( Bloomberg)
Arxis, a manufacturer of electronic and mechanical components for aerospace and defense companies, has raised $1.13bn in an upsized US initial public offering.
The Connecticut-based company sold 40.5m shares at $28 each, above its earlier plan to offer 37.7m shares at $25 to $28.
Plata hits $5bn valuation in bicycle capital-led funding. ( Bloomberg)
Plata has raised $405m in a new funding round, valuing the Mexican fintech at $5bn.
The deal marks the highest valuation for a privately held financial services company in Latin America.
Topspin Consumer Partners closes oversubscribed Fund III at $328m. ( Business Wire)
Topspin Consumer Partners has closed its third fund at $328m in capital commitments, with the vehicle oversubscribed and exceeding its original hard cap.
The operationally focused private equity firm invests in the consumer sector.
EMEA
Charterhouse Capital Partners, a private equity firm, agreed to acquire Animalcare Group, a UK‑based veterinary pharmaceuticals company, for £235m ($318.8m), according to press releases.
ESCO, a global provider of highly engineered products and solutions, agreed to acquire Megger, a global provider of testing, monitoring, and data-driven solutions, from TBG, a private investment firm and family office, for $2.35bn, according to press releases.
ESCO is advised by JP Morgan, Stephens and Bryan Cave Leighton Paisner (BCLP). Megger and TBG are advised by Rothschild & Co and Willkie Farr & Gallagher, according to press releases.
Wipro Infrastructure Engineering, an industrial engineering company, agreed to acquire Indeco, an Italian manufacturer of hydraulic equipment, according to press releases. Financial terms were not disclosed.
Indeco is advised by BNP Paribas, KT&Partners and PedersoliGattai. Wipro is advised by PricewaterhouseCoopers and A&O Shearman, according to press releases.
Corient, a wealth management firm, agreed to acquire of Bedrock Group, a pre-eminent European wealth manager and multi-family office, according to press releases. Financial terms were not disclosed.
Bedrock Group is advised by Deloitte. Corient is advised by StreetCred PR (led by Jimmy Moock), according to press releases.
Arthur J. Gallagher & Co, a US-based global insurance brokerage and risk management services firm, completed the acquisition of Bridge Insurance Brokers, an independent corporate insurance broker, according to press releases. Financial terms were not disclosed.
eToro, a social trading and investment platform, agreed to acquire Zengo, a self-custodial crypto wallet provider, according to press releases. Financial terms were not disclosed.
UK retailer JD Sports sells entire Applied Nutrition stake for $66.5m. ( Reuters)
JD Sports Fashion has sold its entire 9.1% stake in Applied Nutrition for about £49m ($66.5m).
The British sportswear retailer had been the second-largest shareholder in the sports nutrition company, which sells products including protein powders, supplements, vitamins, and energy drinks.
KKR and Apollo are among the potential suitors for Portugal's Logoplaste. ( Bloomberg)
US private equity firms KKR and Apollo Global Management are considering bids for Portuguese packaging maker Logoplaste.
The firms are among several buyout groups evaluating the business, alongside rival packaging companies that have also shown interest. Logoplaste is expected to receive non-binding offers in May. Discussions are ongoing and may not result in a transaction.
The Bouygues-led group is in advanced talks on a deal for SFR. ( Bloomberg)
A consortium led by Bouygues Telecom, alongside Iliad and Orange, is in advanced talks to acquire the French business of Altice, including SFR.
The potential deal could value the unit at more than €20bn ($23.6bn), with an announcement possible in the coming days. Discussions are ongoing and may not result in a finalized transaction.
The financier atop London's property market. ( FT)
Earlier this month, Nick Candy, treasurer of Nigel Farage’s Reform UK party, sold his Chelsea mansion for more than £275m ($373m) in London’s most expensive residential transaction. The identity of the buyer had not been disclosed at the time of the sale.
The buyer has now been identified as Suneil Setiya, co-founder of the quantitative trading firm Quadrature Capital, which paid out a £360m ($488m) dividend to its owners in 2025.
Johnson Controls said to weigh $4.5bn in divestitures. ( Bloomberg)
Johnson Controls International is exploring options, including the potential sale of two businesses in its security division that could be worth up to $4.5bn.
The company is working with financial advisers to seek interest in its Access Control and Intrusion Detection units and may sell them separately or to a single buyer. Discussions are ongoing and may not result in a finalized transaction.
Millicom eyeing Peru and Venezuela after other Latin America deals. ( Bloomberg)
Millicom International Cellular is considering potential acquisitions to enter the Peruvian and Venezuelan markets, though it has no immediate plans to pursue transactions following its recent expansion activity.
The company views both countries as strategically aligned with its long‑term growth objectives and continues to assess opportunities beyond its current acquisition phase.
APAC
Elliott takes a stake in Japan's Daikin and calls for higher returns. ( Reuters)
Elliott Investment Management has taken a stake in Daikin and is urging the air conditioning manufacturer to improve margins, enhance shareholder returns, and review non-core assets.
The activist investor did not disclose the size of its holding.
Sigenergy jumps 103% in Hong Kong debut after $562m IPO. ( Bloomberg)
Shares of Sigenergy Technology surged in their Hong Kong trading debut after the Chinese energy storage equipment maker raised HKD4.4bn ($562m) in an initial public offering.
The stock closed at HKD659.50 ($60), up 103% from its IPO price, reflecting strong investor demand for the sector. The listing drew support from cornerstone investors including a Temasek unit, Goldman Sachs Asset Management, and Hillhouse Investment, which together subscribed for about half of the offering.
|
Connect the World of Dealmakers
Expand your network of fellow Dealmakers by inviting your colleagues and coworkers.
Join Now
If you know someone who might enjoy this briefing forward this email. Subscribe to a Daily Review.
|
|
|
|
|
