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Top Highlights
Pritzker-backed ProAmpac, a flexible packaging manufacturer, completed the acquisition of the packaging business of TC Transcontinental, a Montreal-based packaging, commercial printing, and specialty media company, for $1.51bn, according to press releases.
TC Transcontinental was advised by CIBC Capital Markets, RBC Capital Markets, Morgan Lewis & Bockius, and Stikeman Elliott. ProAmpac was advised by Goldman Sachs, JP Morgan, Kirkland & Ellis, McCarthy Tetrault (led by Shevaun McGrath, Heidi Gordon and Spencer Baron) and H/Advisors Abernathy (led by Dan Scorpio) , according to MergerLinks data and press releases.
Goldman Sachs Alternatives, an alternative investor, completed the investment in Lightyear Capital-backed Schellman, a cybersecurity compliance and attestation services provider, according to press releases. Financial terms were not disclosed.
Schellman was advised by Robert W Baird and V2 Communications. Goldman Sachs was advised by Morgan Stanley and Weil Gotshal and Manges (led by Chris Machera). Lightyear Capital was advised by Davis Polk & Wardwell (led by Michael Davis), Reed Smith and ThroughCo Communications (led by Elliot Sloane), according to MergerLinks data and press releases.
Servier, an international pharmaceutical group, agreed to acquire Day One Biopharmaceuticals, a commercial-stage biopharmaceutical company, for $2.5bn, according to press releases.
Day One is advised by Centerview Partners and Fenwick & West. Servier is advised by Goldman Sachs and Baker McKenzie, according to MergerLinks data and press releases.
AMERICAS
Warner Bros. CEO sells $113m of stock after Paramount bid. ( Bloomberg)
New Mountain scraps $32bn deal with ex-executive Holt. ( Bloomberg)
Cerebras taps Morgan Stanley to lead IPO return. ( Bloomberg)
Blackstone and TPG show interest in Whitestone REIT takeover. ( Reuters)
EMEA
EssilorLuxottica heir nears multibillion buyout of siblings. ( FT)
Advent reveals rejected $1.52bn bid for Senior. ( Reuters)
Advent calls off Envalior stake deal with Lanxess. ( Reuters)
Informa weighs sale of stake in Monaco luxury events assets. ( Reuters)
Flacks ready to bid for Thyssenkrupp steel unit if talks fail. ( Reuters)
Blue Owl leads $750m debt deal for Vista’s Nexthink buyout. ( Bloomberg)
CVC eyes Belfius stake ahead of potential IPO. ( Reuters)
APAC
Denso bids $8bn for Japanese chipmaker Rohm. ( FT)
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AMERICAS
BlueBird Fiber, a communication infrastructure provider, completed the acquisition of all the assets and operations of Everstream, a provider of business-only fiber connectivity, according to press releases. Financial terms were not disclosed.
Bluebird Fiber was advised by Leo Berwick, TD Securities, Kirkland & Ellis, and BSP. Everstream was advised by Alvarez & Marsal, Bank Street Group, PJT Partners, Richards Layton and Finger, and Weil Gotshal and Manges, according to press releases.
AFM Capital Partners, a private investment firm, completed the acquisition of a majority stake in Incodema3D Holdings, a contract manufacturer focused on metal additive manufacturing for mission-critical applications, according to press releases. Financial terms were not disclosed.
Incodema3D was advised by Cantor Fitzgerald, Bond Schoeneck & King, and Courtney Wellar Esq.. AFM Capital Partners was advised by DLA Piper. Debt financing was provided by Gladstone Capital and JP Morgan, according to press releases.
TPG-backed Delinea, a company that provides identity security, completed the acquisition of StrongDM, a cybersecurity company, according to press releases. Financial terms are not disclosed.
Delinea was advised by Piper Sandler, Davis Polk & Wardwell (led by Darren M. Schweiger) and Paul Weiss Rifkind Wharton & Garrison (led by Annie Herdman), according to MergerLinks data and press releases.
EPR Properties, a real estate investment trust, agreed to acquire seven parks from Six Flags, an amusement park operator, for $331m, according to press releases.
Six Flags is advised by Perella Weinberg Partners, Weil Gotshal and Manges (led by Michael J. Aiello) and Joele Frank (led by Daniel Katcher), according to MergerLinks data and press releases.
GreenArrow, a company specializing in advanced transportation infrastructure and intelligent transportation solutions, completed the acquisition of The Narwhal Group, a company focused on transportation operations, intelligent transportation systems, and infrastructure networking, according to press releases. Financial terms were not disclosed.
Warner Bros. CEO sells $113m of stock after Paramount bid. ( Bloomberg)
Warner Bros. Discovery CEO David Zaslav sold more than $113m of company shares as the sale of the business to Paramount Skydance progresses.
The transaction represents a minority of his holdings. Zaslav still owns over $220m in shares based on Paramount’s acquisition price and could receive additional stock awards after the deal closes.
New Mountain scraps $32bn deal with ex-executive Holt. ( Bloomberg)
New Mountain Capital has ended talks with former executive Matt Holt over a proposed $32bn deal to acquire five portfolio companies from the firm.
The discussions involved multiple proposals and counteroffers between Holt and the private equity group. The firm informed clients that negotiations have now been terminated.
Cerebras taps Morgan Stanley to lead IPO return. ( Bloomberg)
AI chipmaker Cerebras Systems has selected Morgan Stanley to lead its renewed initial public offering. The listing could raise about $2bn.
The company has filed updated IPO paperwork and plans to meet analysts and investors as it prepares for a potential listing.
Robinhood Ventures Fund I priced its IPO of 12.6m shares at $25 each, giving the fund a size of $658m. The shares will trade on the New York Stock Exchange under the symbol RVI.
The offering could reach $706m if the underwriters’ option is exercised in full. Trading is scheduled to begin March 6.
Blackstone and TPG show interest in Whitestone REIT takeover. ( Reuters)
Private equity firms including Blackstone and TPG have expressed interest in acquiring shopping center operator Whitestone REIT. The company has hired Bank of America to oversee the process.
Whitestone owns and operates open-air retail centers across Phoenix and major Texas markets. The review comes amid shareholder disputes and proxy fights.
EMEA
AXA IM, an asset manager, completed the acquisition of a 40% stake in FiberPass, a Spanish wholesale fiber-to-the-home company, from Vodafone Spain, a mobile telecommunications operator, and Telefónica, a Spanish multinational telecommunications company, for €500m ($581m), according to press releases.
2PointZero Group, an investment firm, completed the acquisition of a majority stake in ISEM Packaging Group, a European packaging group, from Peninsula Capital, a private equity firm, for AED704m ($192m), according to press releases.
2PointZero Group was advised by Hogan Lovells and Weber Shandwick (led by Rawad Khattar). ISEM Packaging was advised by Gatti Pavesi Bianchi Ludovici, Herbert Smith Freehills Kramer, Legance, and Van Campen Liem, according to press releases.
Lesha Bank, a Shari’a-compliant bank, offered to acquire Amedeo Air Four Plus, an aircraft leasing company, in a £751m ($1bn) deal, according to press releases.
Amedeo is advised by Panmure Liberum (led by Chris Clarke), Goldman Sachs (led by Nick Harper) and Norton Rose Fulbright. Lesha Bank is advised by Rothschild & Co (led by Neil Thwaites) and Clifford Chance, according to MergerLinks data and press releases.
Goldman Sachs Alternatives, an investment firm, completed the acquisition of a majority stake in Mace Consult, a delivery partner for the world's complex and marquee infrastructure and built environment projects, from Mace Group, an international consulting and construction company, according to press releases. Financial terms were not disclosed.
Goldman Sachs was advised by Jefferies & Company, Lazard and White & Case (led by Joseph Bradley). Mace Group was advised by UBS and Linklaters (led by George Yiend), according to MergerLinks data and press releases.
Axel Springer, a company specializing in digital media and online classifieds, agreed to acquire Telegraph Media Group, a company focused on national newspaper publishing and digital news platforms, from RedBird IMI, an investment firm, for £575m ($771m), according to press releases.
Axel Springer is advised by LionTree Advisors, Freshfields, and FGS Global (led by Rollo Head). Redbird IMI is advised by Gagnier Communications (led by Dan Gagnier), according to press releases.
Waterland, a private equity firm, completed the acquisition of a majority stake in Palletways, a palletised freight network, from DP World, an Emirati multinational logistics company, according to press releases. Financial terms were not disclosed.
Waterland was advised by SEC Newgate (led by Robin Tozer). DP World was advised by Moelis & Co, according to MergerLinks data and press releases.
Lone Star Funds, a private equity firm, agreed to acquire the Capsules & Health Ingredients division of Lonza Group, a global CDMO and nutrition-focused company, according to press releases. Financial terms were not disclosed.
Lonza Group is advised by Centerview Partners, according to press releases and MergerLinks data.
EssilorLuxottica heir nears multibillion buyout of siblings. ( FT)
Leonardo Del Vecchio’s heir is nearing a multibillion deal to buy out two siblings from family holding company Delfin. The transaction would resolve a long-running succession dispute.
Delfin is the largest shareholder in EssilorLuxottica and a major investor in Banca Monte dei Paschi di Siena. The buyout would consolidate control within the family.
Advent reveals rejected $1.52bn bid for Senior. ( Reuters)
Advent disclosed a rejected takeover proposal for UK aerospace engineering group Senior valuing the company at about £1.14bn ($1.52bn). The offer was priced at 270 pence per share in cash.
The proposal also allowed shareholders to retain a final dividend of up to 2 pence for fiscal 2025. Senior previously said it had received several takeover approaches.
Advent calls off Envalior stake deal with Lanxess. ( Reuters)
Advent-backed investors have withdrawn from a deal to acquire Lanxess’ nearly 41% stake in plastics joint venture Envalior. The decision halted a planned sale by the German chemicals group.
Lanxess shares fell sharply following the announcement. The transaction would have involved a minority stake in the joint venture.
Informa weighs sale of stake in Monaco luxury events assets. ( Reuters)
Informa is exploring a sale of a stake in its Monaco events portfolio, including the Monaco Yacht Show and Top Marques Monaco. The group is working with an investment bank to gauge investor interest.
Informa has a market value of nearly $14bn. The review focuses on its portfolio of high-end events held in Monaco.
Flacks ready to bid for Thyssenkrupp steel unit if talks fail. ( Reuters)
Flacks Group is prepared to bid for Thyssenkrupp Steel Europe if current sale discussions do not result in a transaction. The fund signaled interest in the German steel business.
Thyssenkrupp has been negotiating with Jindal Steel International over a potential sale of the division. The talks have not yet produced a firm offer.
Blue Owl leads $750m debt deal for Vista’s Nexthink buyout. ( Bloomberg)
Blue Owl was the largest lender in the financing. The deal highlights continued demand for private credit financing for leveraged buyouts.
CVC eyes Belfius stake ahead of potential IPO. ( Reuters)
CVC is weighing a stake purchase in state-owned Belgian bank Belfius ahead of a potential public listing. The government is planning to sell 20% to 30% of the lender.
The stake sale is part of efforts to raise billions of euros for defence spending. Belfius remains fully owned by the Belgian state.
APAC
CP Axtra-backed Lotus's, a retail chain, agreed to acquire The Food Purveyor, a supermarket retail business, from Navis, a private equity firm, for $421m, according to press releases.
Navis is advised by Rothschild & Co (led by Rohit Elhence), according to MergerLinks data.
Denso bids $8bn for Japanese chipmaker Rohm. ( FT)
Toyota supplier Denso has proposed a takeover of Rohm valuing the chipmaker at about JPY1.3tn ($8.2bn). The move targets semiconductor technology used in electric vehicles.
The offer represents an 18% premium to Rohm’s share price. Trading in Rohm shares was halted after strong buy orders following the report.
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