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AMERICAS

Google clears DOJ antitrust hurdle for $32bn Wiz deal. (Bloomberg)

Alphabet’s Google and cybersecurity firm Wiz have cleared a major obstacle in their $32bn acquisition, as the US government announced it will conclude its investigation into the deal.

The Justice Department had launched an in-depth review of the proposed merger after it was first announced in March. The decision to end the probe early, known as “early termination,” was posted on the Federal Trade Commission’s website on Oct. 24.

Wiz is advised by Barclays, Goldman Sachs (led by Pawan Tewari), JP Morgan, Morgan Stanley, Cravath Swaine & Moore (led by Faiza Saeed, Daniel Cerqueira, and Alexander E. Greenberg), Fenwick & West (led by Michael Brown, Douglas Cogen, and Stephen Fisher), and Slaughter & May. Alphabet is advised by Freshfields Bruckhaus Deringer. Google is advised by Bank of America (led by Kevin Brunner), Cleary Gottlieb Steen & Hamilton (led by Leah Brannon and Blair Kuykendall). Financial advisors are advised by Sullivan & Cromwell (led by Stephen M. Kotran), according to press releases and MergerLinks data.

L Squared Capital Partners to invest in Ergo.

L Squared Capital Partners, a private equity firm, agreed to invest in Ergo, a technology-enabled geopolitical and strategic intelligence firm. Financial terms were not disclosed.

Ergo is advised by Ballast Consulting Group, Equiteq, and Fox Rothschild. L Squared Capital Partners is advised by Clearsight Advisors and Skadden Arps Slate Meagher & Flom (led by Raymond F. Bogenrief), according to press releases.

The Sterling Group-backed Precision Concepts International completes the acquisition of Comar.

The Sterling Group-backed Precision Concepts International, a provider of specialty rigid packaging solutions, completed the acquisition of Comar, a private equity firm, according to press releases. Financial terms were not disclosed.

Comar was advised by Guggenheim Partners and Jones Day. Precision Concepts International was advised by Evercore and Latham & Watkins, according to press releases.

Automation Anywhere completes the acquisition of Aisera.

Automation Anywhere, a provider of Agentic Process Automation (APA) and agentic solutions, completed the acquisition of Aisera, a provider of agentic solutions for autonomous IT, according to press releases. Financial terms were not disclosed.

Aisera was advised by JP Morgan. Automation Anywhere was advised by Bank of America, according to press releases and MergerLinks data.

Koch Real Estate Investments completes the investment in Amherst.

Koch Real Estate Investments, a real estate investment arm of Koch Industries, completed the investment in Amherst, a data-driven, vertically integrated investment management platform, according to press releases. Financial terms were not disclosed.

Amherst was advised by Prosek Partners, according to press releases.

Jabil to acquire Hanley Energy Group for $725m.

Jabil, a company specializing in engineering, manufacturing and supply-chain services, agreed to acquire Hanley Energy Group, a provider of energy management and critical power solutions for the data-center market, for $725m, according to press releases.

Fortress Investment Group and Citadel Securities led a $500m round in Ripple.

Private equity firms Fortress Investment Group and Citadel Securities led a $500m round in Ripple, a blockchain-based financial technology company, with participation from Pantera Capital, Galaxy Digital, Brevan Howard, and Marshall Wace, according to press releases.

General Catalyst, Lightspeed Venture Partners, and D1 Capital Partners led a $250m Series B round in Beacon Software.

Venture capital firms General Catalyst, Lightspeed Venture Partners, and D1 Capital Partners, led a $250m Series B round in Beacon Software, an AI holding company focused on building the permanent home for essential vertical software and services, with participation from BDT & MSD Partners, Chris Rogers, and Sator Grove, according to press releases.

Mexico's Asur leads bidding for Motiva Latin American airports. (Reuters)

Mexico’s Grupo Aeroportuario del Sureste (Asur) has emerged as the leading bidder to acquire Motiva’s airport portfolio.

Brazil-based Infraestrutura de Mobilidade, formerly CCR, announced in May that it had started the sale process as part of a strategic shift to focus on its core highway concessions business.

Insurance tech firm Exzeo raises $168m in US IPO. (Reuters)

Exzeo Group raised $168m in its US initial public offering, pricing shares within the marketed range and joining a wave of insurance companies moving ahead with listing plans. The Tampa-based insurance technology firm sold 8m shares at $21 each, compared with a marketed range of $20 to $22.

The pricing gives Exzeo a potential valuation of about $1.9bn, positioning the company to capitalize on investor demand for technology-driven insurance platforms.

Medline discloses more IPO underwriters along with growing sales. (Bloomberg)

Medline has expanded its roster of advisers as it prepares for what is expected to be one of the largest US initial public offerings of the year. The medical supply company revealed the additions in a filing with the US Securities and Exchange Commission on November 4.

The company also reported higher revenue, posting $20.6bn in net sales for the nine months ended September 27, up from $18.7bn a year earlier. The planned listing underscores renewed momentum in the healthcare sector as companies seek to tap strong investor demand for defensive growth assets.

EMEA

Unilever to complete Magnum spin-off by December 6. (Reuters)

Unilever said on November 4 it expects to complete the spin-off of its Magnum Ice Cream unit by December 6, following a delay caused by the US government shutdown. The three-week shutdown prevented the US Securities and Exchange Commission from approving the registration statement needed for The Magnum Ice Cream Company’s shares to be listed and traded on the New York Stock Exchange.

Unilever is advised by PricewaterhouseCoopers, JP Morgan, Jefferies & Company, Morgan Stanley, Linklaters and Teneo (led by Jonathan Sibun), according to press releases and MergerLinks data.

Axon to acquire Carbyne for $625m.

Axon, a company specializing in public safety technology and connected law enforcement solutions, agreed to acquire Carbyne, an emergency communications and response platform, for $625m, according to press releases.

Axon is advised by Meitar Law Offices and Morgan Lewis & Bockius. Carbyne is advised by Greenberg Traurig and Herzog Fox & Neeman, according to press releases.

UKG to acquire Mo from Calculus.

UKG, a company that delivers HCM, payroll, HR service delivery, and workforce management solutions, agreed to acquire Mo, an employee engagement and recognition platform, from Calculus, a growth investor in the technology, healthcare, and creative sectors, according to press releases. Financial terms were not disclosed.

Calculus is advised by Greentarget, according to press releases and MergerLinks data.

ADNOC's Covestro deal set for EU nod in coming weeks. (Reuters)

Abu Dhabi state oil company ADNOC is expected to receive European Union approval for its €14.7bn ($17bn) bid for German chemicals firm Covestro in the coming weeks.

The European Commission, the EU’s competition authority, restarted its review of the deal on October 24 after pausing it on September 3 pending additional information.

BDO nears merger of UK and Irish firms. (FT)

BDO UK is in advanced talks to merge with its sister firm in Ireland as the world’s fifth-largest accounting network by revenue moves to strengthen its regional presence. The proposed combination would create a business with annual revenue of about £1.1bn.

The merger would unite BDO’s UK operations, which span 18 offices, with the Irish firm’s locations in Dublin and Limerick. Discussions are nearing completion but remain subject to partner approval and regulatory clearance.

UAE's Masdar to invest in Austria's largest hydrogen project. (Reuters)

The United Arab Emirates’ state-owned energy company Masdar will invest in Austria’s largest hydrogen project, operated by oil and gas firm OMV.

Under an agreement announced at the ADIPEC energy fair in Abu Dhabi, Masdar will take a 49% stake in the planned electrolysis plant in Bruck an der Leitha, while OMV will retain a 51% stake and operational control.

Siemens Healthineers preparing for potential Siemens's share sale. (Reuters)

Siemens Healthineers is preparing for the possibility that its largest shareholder, Siemens, may reduce its stake in the medical technology company to below 50%, CFO Jochen Schmitz said.

As part of its preparations, the company is engaging with credit rating agencies.

Chinese-backed microchip maker Silex said to weigh Stockholm IPO. (Bloomberg)

Silex Microsystems, a Stockholm-based microchip maker, is considering an initial public offering as soon as next year. The move follows a recent stake sale that transferred control from a Chinese owner to Swedish investors.

The company is working with advisers on the potential listing and could seek a valuation above the $570m implied by the earlier stake sale, with one source suggesting a possible valuation of over $1bn. Deliberations are ongoing and may not result in a finalized IPO.

South African mobile operator Cell C plans $413m IPO. (Bloomberg)

South African mobile operator Cell C is planning an initial public offering in Johannesburg, joining a string of companies tapping the local capital markets amid a rally in shares.

The company’s controlling shareholder, Prepaid Company, owned by Blu Label Unlimited Group, aims to raise ZAR7.2bn ($413m) from the offering. Proceeds are expected to be used to reduce debt and pay a dividend to shareholders.

Ex-Vodacom executive eyes $200m AI fund post Optasia exit. (Bloomberg)

Romeo Kumalo’s investment firm, LLH Capital, plans to raise a $200m fund to invest in artificial intelligence-focused companies across Africa, following its successful exit from fintech and AI platform Optasia. The firm aims to capitalize on a growing wave of innovation and digital adoption across the continent.

LLH Capital was one of the earliest backers of Optasia, which made its debut on the Johannesburg Stock Exchange on November 4 with a valuation of about $1.4bn.

APAC

TPG to acquire a majority stake in Kinetic.

TPG, a global alternative asset management firm, agreed to acquire a majority stake in Kinetic, a bus operator and multi-modal mass transit operator, according to press releases. Financial terms were not disclosed.

Kinetic is advised by Omnicom Group. TPG is advised by UBS and Cato & Clive, according to press releases and MergerLinks data.

Bain in exclusive talks with Perpetual over wealth unit sale. (Bloomberg)

Perpetual has signed an exclusivity agreement with Bain Capital as discussions progress over a potential sale of the Australian firm’s wealth management unit.

The company cautioned that there is no certainty a transaction will take place.

‘Baby Shark’ creator prices South Korea IPO at top of range. (Bloomberg)

Pinkfong, the South Korean company behind the viral “Baby Shark” song, priced its initial public offering at the top of its marketed range, raising KRW76bn ($53m). The Seoul-based education and entertainment firm sold 2m shares at KRW38,000 ($26.4) each, after marketing them between KRW32,000 ($22.24) and KRW38,000($26.4).

The pricing values Pinkfong at about KRW545bn ($378m). The stock is scheduled to debut on November 18 on South Korea’s Kosdaq market, marking one of the year’s notable listings in the country’s entertainment sector.

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