Top Highlights
Mubadala Capital, the alternative asset management subsidiary of the Abu Dhabi government's sovereign wealth fund, and TWG Global, a diversified holding company, completed the acquisition of Clear Channel Outdoor, an out-of-home advertising company, for $6.2bn, according to press releases.
GTCR and Elliott Investment Management, private equity firms, agreed to acquire CCC Intelligent Solutions, a software as a service company for the property and casualty insurance economy in the United States and China, for $6.1bn, according to press releases.
GTCR is advised by Citigroup, JP Morgan, Simpson Thacher & Bartlett and Prosek Partners (led by Joshua Clarkson). Debt financing is provided by Citigroup and JP Morgan. Elliott Investment Management is advised by Debevoise & Plimpton and Gibson Dunn & Crutcher. CCC Intelligent Solutions is advised by Morgan Stanley, Kirkland & Ellis and Joele Frank, according to press releases and MergerLinks data.
LDC, a private equity firm, completed an investment in Reliance Precision, a UK-based engineering and manufacturing company, according to press release. Financial terms were not disclosed.
LDC was advised by Collinson Grant, Fairgrove, BDO, Squire Patton Boggs and Grant Thornton. Reliance Precision was advised by Grant Thornton (led by Bob McDermott), PMSI Strategy, Arrowpoint Advisory, Rothschild & Co and Brabners, according to press release and MergerLinks data.
AMERICAS
Perella Weinberg and Piper Sandler to abandon merger talks. ( Reuters)
Tesla-SpaceX deal news possible this year. ( Bloomberg)
Japan to invest up to $21bn in two GlobalFoundries chip factories in New York. ( Reuters)
Nvidia-backed AI drugmaker Iambic raises $150m in US IPO. ( Bloomberg)
EMEA
Lufthansa Group welcomes selection of its offer in TAP Air Portugal privatization process. ( Press Release)
German government is in talks to buy 50% of KNDS. ( Reuters)
EU Commission clears Leonardo acquisition of Iveco's defence unit. ( Reuters)
Richemont and Signet are in talks to join bidder for De Beers. ( Bloomberg)
APAC
Oasis urges competition in bids for scandal-tainted Kobayashi. ( Bloomberg)
ByteDance is in talks to secure MediaTek AI chips for data centers. ( Bloomberg)
Trifecta Capital sees five portfolio firms listing in a year. ( Bloomberg)
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AMERICAS
GHK Capital Partners, a private equity firm, completed the acquisition of USA Hometown Experts, a multi-trade residential and commercial services platform, according to press release. Financial terms were not disclosed.
GHK Capital Partners was advised by Angle Advisors, Piper Sandler, Paul Weiss Rifkind Wharton & Garrison and Weil Gotshal and Manges. USA Hometown Experts was advised by Citizens M&A, Stephens and DLA Piper, according to press release.
Sakuu, a manufacturing technology company, agreed to go public via SPAC merger with Pyrophyte Acquisition Corp. II, a special purpose acquisition company, in a $600m deal, according to press release.
Sakuu is advised by Cohen & Company Capital Markets, Nelson Mullins Riley & Scarborough and Sterling Communications (led by Michelle Denny). Pyrophyte is advised by Brookline Capital and Ashurst Perkins Coie, according to press release.
Labcorp, a provider of innovative and comprehensive laboratory services, agreed to acquire health diagnostics assets of OPKO Health-owned BioReference Health, a provider of laboratory testing products and services, for $872m, according to press releases.
Labcorp is advised by Lazard, Hogan Lovells Cadwalader and Parker Poe Adams & Bernstein. OPKO Health is advised by Piper Sandler and Greenberg Traurig, according to press releases.
PACT Capital Partners, an investment management firm, completed the acquisition of a minority stake in Sterling Investment Partners, a private equity firm, according to press release. Financial terms were not disclosed.
PACT Capital Partners was advised by Fried Frank Harris Shriver & Jacobson and Gasthalter & Co (led by Nathaniel Garnick and Amanda Shpiner). Sterling Investment Partners was advised by Houlihan Lokey and Kirkland & Ellis, according to press release.
Grupo Televisa, a company that operates media and entertainment businesses in the Spanish-speaking world, and Fintech Holdings, a New York-based private investment holding company, agreed to acquire AT&T Mexico, a provider of mobile wireless plans, devices, fixed broadband and entertainment packages, from AT&T, an American multinational conglomerate holding company, for $2bn, according to press releases.
AT&T is advised by Deutsche Bank and Sullivan & Cromwell (led by Eric M.
Krautheimer and Werner F. Ahlers). Grupo Televisa and Fintech Holdings are advised by Morgan Stanley, according to MergerLinks data.
Saint-Gobain, a provider of construction materials and services, agreed to acquire D.S. Brown, a company that designs, engineers and manufactures structural movement, protection and repair solutions for bridges, highways and airfields, from Gibraltar Industries, a manufacturer and distributor of building products for the residential, industrial, and infrastructure markets, for $208m, according to press releases.
Gibraltar Industries is advised by Moelis & Co, Polsinelli and Alliance Advisors (led by Jody Burfening), according to press releases.
L Catterton, a private equity firm, led a $180m Series F round in Scanntech, a retail intelligence and analytics platform, with participation from Partners Group, Bradesco and SPX, according to press release.
Scanntech was advised by JP Morgan and Loures Consultoria (led by Naiara Teles), according to press release.
Brynwood Partners-backed West Madison Foods, a US food manufacturer and marketer specializing in refrigerated salad dressings, completed the acquisition of The Flavor of California, a food products company and licensee of the Bob’s Big Boy brand, from Julie Pantiskas and Salt Creek Capital, a private equity firm, according to press release. Financial terms were not disclosed.
West Madison Foods was advised by Winston Taylor. The Flavor of California was advised by UB Greensfelder, according to press release.
CVC Capital Partners, a private equity firm, agreed to invest in Fibrotex, a provider of multispectral camouflage and signature‑management systems for defense customers, according to press releases. Financial terms were not disclosed.
Fibrote is advised by Jefferies & Company and CVC Capital Partners is advised by Rothschild & Co, according to press releases.
SITA Aero, a company that specializes in air transport communications and information technology, agreed to acquire airport solutions business of Raytheon Technologies-owned Collins Aerospace, a global company specialized in the design, production, and support of communications and aviation systems, according to press releases. Financial terms were not disclosed.
Raytheon Technologies is advised by Wachtell Lipton Rosen & Katz (led by Joshua Cammaker), according to MergerLinks data.
ECGI Holdings, a technology-driven investment and development company, completed the acquisition of Avanta Group, a California healthcare enterprise whose businesses encompass direct healthcare services, according to press releases. Financial terms were not disclosed.
ECGI Holdings was advised by InvestorBrandNetwork, according to press releases.
Lumos Capital-backed Activate Learning, an education company, completed the acquisition of Open Up Resources, a PreK–12 curriculum and professional learning provider, according to press release. Financial terms were not disclosed.
Open Up Resources was advised by East Wind Advisors, according to press release.
EQT, an investment firm, agreed to acquire Stockbridge, an independent real estate investment management firm, for up to $550m, according to press release.
Perella Weinberg and Piper Sandler to abandon merger talks. ( Reuters)
Piper Sandler and Perella Weinberg Partners have abandoned talks for an all-stock merger after failing to agree on financial and personnel terms.
Perella Weinberg shares fell 19.1% to $13 on October 14, while Piper Sandler rose 0.96% to $64.50.
Tesla-SpaceX deal news possible this year. ( Bloomberg)
A merger between Tesla and SpaceX could be announced ahead of the electric-vehicle maker’s 2026 annual general meeting.
The meeting is expected to take place by December 6 at the latest, adding that while a combination could generate financial synergies, its main value would lie in integrating the companies’ artificial intelligence technologies.
Japan to invest up to $21bn in two GlobalFoundries chip factories in New York. ( Reuters)
Japan will invest up to $21bn to build two semiconductor factories in New York state, which will be jointly owned by the US government and Japanese interests and operated by GlobalFoundries.
The investment is part of a broader $550bn commitment by Japan under a trade agreement with the Trump administration, which included a reduction in US tariffs on Japanese cars and other imports from at least 25% to 15%.
Nvidia-backed AI drugmaker Iambic raises $150m in US IPO. ( Bloomberg)
Iambic Therapeutics, a clinical-stage cancer drug developer and technology company backed by Nvidia, has raised $150m in a US initial public offering.
The company sold about 9.38m shares at $16 each, pricing at the midpoint of its marketed range of $15 to $17 per share.
EMEA
Ares, a global alternative asset manager, completed the acquisition of a minority stake in the operational portfolio of Statera Energy, a UK-based energy company, according to press release. Financial terms were not disclosed.
Ares was advised by Baringa Partners, KPMG and DLA Piper. Statera Energy was advised by Macquarie Group, Herbert Smith Freehills Kramer and Paul Weiss Rifkind Wharton & Garrison, according to press release.
Ambienta, a private equity firm, completed the acquisition of Energreen, a manufacturer of machinery and robotic solutions for professional green maintenance and vegetation management, from 21 Invest, a European private equity investor, for €300m ($346m), according to press releases.
Ambienta was advised by Mediobanca. 21 Invest was advised by Houlihan Lokey, according to press releases and MergerLinks data.
Lufthansa Group welcomes selection of its offer in TAP Air Portugal privatization process. ( Press Release)
The German airline group said the proposed investment would support TAP’s growth while preserving its national identity and strengthening Portugal’s connectivity, particularly with North and Latin America.
German government is in talks to buy 50% of KNDS. ( Reuters)
Germany is in talks to acquire a 50% stake in Franco-German tank maker KNDS from its German owner families.
Negotiations with the families, who hold their stake through Wegmann Holding, are ongoing, with the parties relatively close on price. The discussions come as deteriorating market conditions have weakened the prospects for a planned initial public offering.
EU Commission clears Leonardo acquisition of Iveco's defence unit. ( Reuters)
Richemont and Signet are in talks to join bidder for De Beers. ( Bloomberg)
Richemont and Signet Jewelers are in talks to join a consortium seeking to acquire diamond miner De Beers.
The potential backing from Cartier’s owner and a major US jewelry retailer could support the natural diamond industry as it recovers from a prolonged downturn driven by weak Chinese demand and growing competition from lab-grown gems.
APAC
Oasis urges competition in bids for scandal-tainted Kobayashi. ( Bloomberg)
Oasis Management, the largest shareholder in Kobayashi Pharmaceutical, is urging the Japanese health products maker to ensure a competitive privatization process as it considers a buyout offer reportedly exceeding JPY500bn ($3.2bn).
Oasis founder Seth Fischer stated that the company should not favor a particular bidder based on the preferences of its chief executive or founding family, calling for an open process.
ByteDance is in talks to secure MediaTek AI chips for data centers. ( Bloomberg)
ByteDance is in advanced talks to buy custom data center chips from MediaTek, a deal that would secure key components for TikTok’s owner while expanding the Taiwanese chipmaker’s presence in the market for application-specific integrated circuits.
MediaTek would supply chips tailored to ByteDance’s data center platforms. If finalized, ByteDance could become MediaTek’s second major ASIC customer after Google.
Trifecta Capital sees five portfolio firms listing in a year. ( Bloomberg)
Trifecta Capital Partners expects five companies from its growth equity portfolio, including some unicorns, to go public over the 2027 as strong investor demand supports India’s IPO market.
The Mumbai-based investment firm sees sufficient liquidity and appetite for new listings.
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