Mubadala Capital and TWG Global complete the acquisition of Clear Channel Outdoor for $6.2bn.

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AMERICAS

Penske and Mitsui & Co to acquire the remaining 27.8% stake in Penske Automotive Group for $3.8bn.

Penske, a transportation services company, and Mitsui & Co, a Japanese general trading company, agreed to acquire the remaining 27.8% stake in Penske Automotive Group, an automotive and commercial truck retailer, for $3.8bn, according to press releases.

Penske Automotive Group is advised by Moelis & Co, Freshfields (led by Damien Zoubek, Oliver Board and Abby Rubinshteyn), Paul Weiss Rifkind Wharton & Garrison (led by Andre G. Bouchard, Blake Rohrbacher, Lara Solomons and Jeffrey D. Marell) and Gladstone Place Partners (led by Steven Lipin). Penske is advised by Bank of America, JP Morgan, Wells Fargo Securities and Jones Day (led by Andy Levine, Zach Brecheisen, Justin Roland, Brett Barragate and Michael Solecki). Mitsui is advised by Debevoise & Plimpton (led by Ezra Borut and William Regner), according to press releases and MergerLinks data.

International Seaways to acquire Bruton in a $370m deal.

International Seaways, a tanker company, agreed to acquire Bruton, a very large crude carriers company, in a $370m deal.

Bruton is advised by Morgan Stanley, Pareto Securities, Conyers Dill & Pearman and Ro Sommernes. International Seaways is advised by Clarksons Securities, Moelis & Co, Carey Olsen, Schjodt and Wachtell Lipton Rosen & Katz (led by John L. Robinson), according to press releases and MergerLinks data.

Copart completes the acquisition of ACV for $1.9bn.

Copart, an online vehicle auction company, completed the acquisition of ACV, a digital automotive marketplace and data services partner for dealers and commercial clients, for $1.9bn, according to press releases and MergerLinks data.

ACV was advised by JP Morgan, Davis Polk & Wardwell (led by Paul S. Scrivano), and Joele Frank (led by Adam Pollack). Copart was advised by Evercore, Wilson Sonsini Goodrich & Rosati, and FGS Global (led by John Christiansen), according to press releases.

TNS completes the acquisition of netnumber.

TNS, a provider of Infrastructure-as-a-Service solutions to the financial, communications and payments markets, completed the acquisition of netnumber, a provider of phone number intelligence and registry services, according to press releases. Financial terms were not disclosed.

netnumber was advised by Evercore and Kirkland & Ellis. TNS was advised by Stinson, according to press releases.

26North Partners to acquire MEI Industrial Solutions from Olympus Partners.

26North Partners, a multi-asset-class investment platform, agreed to acquire MEI Industrial Solutions, a provider of equipment execution services, from Olympus Partners, a private equity and venture capital firm, according to press releases. Financial terms were not disclosed.

MEI and Olympus are advised by Lazard (led by George Fisher and Bob Frost) and Robert W Baird. 26North Partners is advised by Jefferies, according to press releases.

Parkview Health to acquire Ovation Healthcare.

Parkview Health, a provider of comprehensive pharmacy services, agreed to acquire Ovation Healthcare, a shared services partner for hospitals, according to press releases. Financial terms were not disclosed.

Parkview Health is advised by Goldman Sachs and K&L Gates, according to press releases.

SoftBank weighs acquisition of Allied Universal for up to $30bn. (FT)

SoftBank Group is considering acquiring Allied Universal, a US security services provider, in a potential transaction valuing the company's equity at up to $18bn.

Allied Universal, backed by Warburg Pincus and La Caisse, has approximately $12bn in debt, bringing its potential enterprise value to nearly $30bn. The acquisition could support SoftBank's plans to deploy AI-powered robots across industries.

City Therapeutics raises $200m in upsized US IPO. (Bloomberg)

City Therapeutics, an RNAi drug developer backed by Arch Venture Partners and Fidelity Management & Research, raised $200m in its US initial public offering after pricing shares at $18 each, the midpoint of its marketed range.

The company sold 11.1m shares in the offering, exceeding its initial plan to offer 9.72m shares at between $17 and $19 apiece, highlighting solid investor demand for the biotech listing.

NYC Comptroller Levine calls on Anthropic to delay US IPO. (Reuters)

New York City Comptroller Mark Levine has urged Anthropic to postpone its proposed US IPO until the artificial intelligence company addresses concerns related to safety, corporate governance, and the pace of AI development.

In a letter to CEO Dario Amodei, Levine argued that rapid advances in AI over the past year have outstripped regulatory oversight, increasing concerns around safety, cybersecurity risks, and the potential misuse of increasingly powerful AI systems.

Hyperscale Data plans public listing of askROI subsidiary in 2027. (Press Release)

Hyperscale Data said its AI technology subsidiary, askROI, is preparing to become a standalone publicly traded company, with a listing targeted for the second or third quarter of 2027.

The company is evaluating several routes to take askROI public, including an initial public offering, a reverse takeover, or a merger with a special purpose acquisition company. The planned transaction remains subject to financial and regulatory approvals, as well as market conditions, with completion currently expected in the second half of 2027.

New private equity firm focuses on AI-driven business transformations. (WSJ)

Aldaron, a newly established private equity firm founded by former Palantir and Carlyle professionals, is using artificial intelligence to drive revenue growth at portfolio companies and is already testing the approach through its first acquisition.

The firm recently closed its inaugural fund with approximately $885m in commitments, bringing total assets under management to nearly $1bn. Aldaron plans to leverage AI tools and operational expertise to help acquired businesses improve performance and accelerate growth.

KKR-backed Catalio seeks $500m for AI-healthcare investments. (Bloomberg)

KKR-backed venture capital firm Catalio Capital Management is seeking to raise $500m for a new fund focused on AI-driven healthcare startups.

The fundraising effort comes just 16 months after the firm's previous vehicle and reflects growing investor interest in the use of artificial intelligence to accelerate innovation across healthcare, biotechnology and clinical care. Catalio told investors that AI is helping create a new generation of "category-defining" companies operating at the intersection of technology and medicine.

Continental Properties closes fourth real estate development fund at $203m. (Press Release)

Continental Properties has closed its fourth real estate development fund with $203m in capital commitments, supporting the expansion of its suburban rental housing platform across the United States.

The fund will finance the development of 10 to 15 new multifamily communities under the Springs Apartments and Authentix Apartments brands. Backed by a strong pipeline of projects that have already received initial investment approval, the developments are expected to deliver much-needed housing options across multiple price points in underserved suburban markets, helping address ongoing housing shortages nationwide.

OrbiMed raises $3bn across global and Asia private equity funds. (Press Release)

OrbiMed has raised $3bn across two new private equity funds, strengthening its capacity to invest in healthcare companies globally and across Asia.

The fundraising includes more than $1.9bn for OrbiMed Private Investments X, which will target life sciences venture capital opportunities in the US and Europe, and more than $1bn for OrbiMed Asia Partners VI, focused on healthcare growth equity and venture investments across Asia. Both funds will invest in sectors including biopharmaceuticals, medical devices, diagnostics, and technology-enabled healthcare services.

EMEA

Apax to acquire the remaining stake in Odido from Warburg Pincus.

Apax, a global private equity advisory firm, agreed to acquire the remaining stake in Odido, a telecom provider in the Netherlands, from Warburg Pincus, a global investment firm, according to press releases. Financial terms were not disclosed.

Apax is advised by Stibbe (led by Heleen Kersten) and Simpson Thacher & Bartlett (led by James Howe and Chris Vallance), according to press releases.

De'Longhi to acquire an additional 26.46% stake in professional coffee business for €663m.

De'Longhi, a manufacturer of small domestic appliances and professional coffee equipment, agreed to acquire an additional 26.46% stake in professional coffee business for €663m ($745m), according to press releases.

De'Longhi is advised by Rothschild & Co, according to MergerLinks data.

Vista Equity Partners to acquire the PKI business unit of ASSA ABLOY.

Vista Equity Partners, a private equity firm, agreed to acquire the PKI business unit of ASSA ABLOY, a company specializing in intelligent lock and security solutions, according to press releases. Financial terms were not disclosed.

Panzani and Cerealis in talks to form €1.8bn European food group. (Reuters)

French pasta producer Panzani and Portugal-based Cerealis have entered exclusive negotiations to combine their businesses in a transaction that would create a European food group valued at approximately €1.8bn ($2.03bn).

The proposed merger reflects a broader consolidation trend across Europe's food industry, as manufacturers seek greater scale to manage rising costs, strengthen their negotiating position with retailers, and expand their presence across regional markets.

UK culture secretary considers intervention in Sky-ITV deal. (Sky News)

The UK culture secretary has indicated she is considering intervening in Sky’s £1.6bn ($2.1bn) acquisition of ITV’s broadcast and streaming businesses, citing a number of potential public interest concerns.

Lisa Nandy said she has written to both companies and is assessing whether the transaction should be subjected to further regulatory scrutiny before reaching a final decision on possible government intervention.

Second activist investor calls for sale of Big Yellow. (Press Release)

Big Yellow said it is aware of recent reports that a shareholder has urged the company to consider a sale.

The UK self-storage operator noted that it previously held discussions with a limited number of parties regarding various strategic options, including a potential sale. In December 2025, the company received an indicative approach from an interested party, but the board determined that the valuation did not adequately reflect Big Yellow's long-term potential and subsequently ended the discussions.

Celsa seeks bank proposals for potential IPO or sale. (Bloomberg)

Spanish steelmaker Celsa Group has approached investment banks for advice on strategic alternatives, including a potential sale, initial public offering, or a dual-track process.

The Barcelona-based company has invited proposals from several banks to assess the best route forward, with discussions focusing on whether to pursue a sale of the business, a stock market listing, or a combination of both processes to maximize value.

Dangote Cement taps Goldman Sachs and UBS for planned London listing. (Bloomberg)

Dangote Cement has appointed Goldman Sachs and UBS as bookrunners for a potential London listing that could launch as early as November.

The company is reportedly seeking to raise about $1bn through a secondary share sale on the London Stock Exchange, with existing shareholders expected to sell roughly 10% of the business. The cement producer is majority-owned by African billionaire Aliko Dangote.

Dangote promotes Africa market access ahead of Egypt GDR listing. (Bloomberg)

Aliko Dangote is promoting deeper capital market development in Africa as he prepares to launch global depository receipts in Egypt.

Representatives from Dangote Industries participated in a strategic investor engagement event organized by the Egyptian Exchange, highlighting the group's interest in expanding its presence in Egypt's capital markets and attracting international investment.

Private equity interest threatens London listing of former DS Smith business. (FT)

Lone Star and Atlas Holdings are exploring multi-billion-dollar bids for International Paper’s European packaging business, formerly known as DS Smith.

The potential private equity interest could prompt the US packaging group to reconsider its plans to list the business on the London stock market. Both firms are currently evaluating possible acquisition offers as the sale process progresses.

AkzoNobel and Axalta propose remedies to secure EU clearance for $25bn merger. (Reuters)

AkzoNobel and Axalta Coating Systems have offered remedies to EU regulators in an effort to secure antitrust approval for their proposed $25bn merger.

The concessions, automatically extended the European Commission's review deadline by 10 working days to November. While the Commission confirmed receipt of the remedies, it did not disclose details of the proposed measures, in line with its standard practice.

L&G and NTR's clean power transition fund reaches €330m first close. (Press Release)

L&G and NTR have secured €330m ($371m) in commitments at the first close of their Clean Power Transition IV Fund, which will invest in clean energy and electrification infrastructure across Europe.

The fund aims to generate investor returns by backing projects that support Europe's energy transition, with a focus on clean power generation and the infrastructure needed to enable electrification, both of which are seen as key drivers of energy security and decarbonisation.

British Business Bank backs six AI and deeptech VC funds with £180m. (Press Release)

The British Business Bank has committed £180m ($239m) across six venture capital and growth equity funds to expand funding opportunities for the UK's AI and deeptech sector.

The commitments are intended to support high-growth companies across the innovation lifecycle, from early-stage startups to more mature businesses seeking Series B funding and beyond. The initiative aims to strengthen access to capital for UK-based AI and deeptech innovators developing both foundational technologies and applied solutions.

APAC

Fairfax named strategic buyer in IDBI Bank auction. (Press Release)

Fairfax has been named the strategic buyer for a 60.72% stake in IDBI Bank in the Indian government's privatization process, valuing the proposed acquisition at approximately INR528.8bn ($5.6bn).

Under its winning bid, a Fairfax subsidiary would acquire the stake at INR81 ($0.85) per share, representing a premium of about 23% to IDBI Bank's book value as of June 30, 2026. The transaction is one of India's largest banking privatizations and remains subject to regulatory approvals and other closing conditions.

SmartNews eyes December IPO at lower valuation. (Bloomberg)

SmartNews is considering a December initial public offering that could value the company at around $317m, significantly below its $2bn valuation achieved during a 2021 funding round.

The Tokyo-based news aggregation platform is reportedly weighing a public listing as it grapples with the impact of artificial intelligence on its business model. Discussions remain ongoing, and both the timing and valuation of the potential IPO could still change. The company said it regularly reviews its capital strategy but has not made any final decisions regarding a public offering.

Agri-focused NABVENTURES targets growth-stage companies with second fund. (DealStreetAsia)

NABVENTURES, the venture capital arm of NABARD, plans to invest between INR300m ($3.6m) and INR700m ($8.4m) in growth-stage businesses across the agriculture and rural economy through its second fund.

The firm may also participate in follow-on funding rounds for portfolio companies and intends to leverage NABARD's extensive network and sector expertise to support businesses as they scale and expand within India's rural and agri-focused sectors.

Truecaller rival Equal AI seeks funding at up to $1bn valuation. (Bloomberg)

Equal AI, an automated call-screening startup, is seeking fresh capital to support its growth ambitions and challenge Truecaller, according to founder Keshav Reddy.

The company has attracted early investor interest for a growth-stage funding round that could value the business between $750m and $1bn, potentially elevating it to unicorn status. The fundraising is expected to depend on Equal AI achieving key operational milestones by March.

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