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Top Highlights
Redwire, an American aerospace manufacturer and space infrastructure technology company, agreed to acquire Edge Autonomy, a provider of field-proven uncrewed airborne system technology for $925m, according to press releases.
Edge Autonomy was advised by Citigroup, Kirkland & Ellis and William Blair & Co. Redwire was advised by GH Partners, JP Morgan, Roth Capital Partners, Dentons (led by Igor Davydenko), Holland & Knight (led by David Barkus and Ibrahim Barakat) and Richards Layton and Finger. Debt financing is provided by Bank of America, JP Morgan, Texas Capital Bank and Truist Securities, according to press releases and MergerLinks data.
Dundee Precious Metals, a gold mining company, agreed to acquire Adriatic Metals, a precious and base metals mining company, for $1.3bn, according to press releases.
Adriatic Metals is advised by Macquarie Group (led by Michael Clifton), RBC Capital Markets (led by Farid Dadashev), Stifel (led by Ashton Clanfield), Herbert Smith Freehills, Stikeman Elliott and Burson Buchanan (led by Bobby Morse). Dundee is advised by BMO Capital Markets (led by Gary Mattan), Bryan Cave Leighton Paisner (BCLP), Cassels Brock & Blackwell, Gilbert + Tobin and Tavistock Communications (led by Gareth Tredway) , according to press releases.
TTAM Research Institute, a nonprofit organization, agreed to acquire 23andMe, a personal genomics and biotechnology company, in a $305m deal, according to press releases.
23andMe is advised by Alvarez & Marsal, Moelis & Co, Carmody MacDonald, Paul Weiss Rifkind Wharton & Garrison, Reevemark and Scale Advisors. TTAM is advised by TD Cowen, Arnold & Porter Kaye Scholer, Kirkland & Ellis, Quinn Emanuel and Skadden Arps Slate Meagher & Flom (led by Joseph O. Larkin), according to MergerLinks data and press releases.
Deal Round up
AMERICAS
Thermo Fisher plans to sell parts of diagnostics unit for $4bn. ( Reuters)
Google to terminate $200m contract with Scale AI after Meta acquires stake. ( Reuters)
US trucker Forward Air attracts takeover interest from buyout firms. ( Reuters)
Blackstone said to be in talks to buy embattled Allegiant Resort. ( Bloomberg)
Kenvue mulls sale of some skin health and beauty brands. ( Reuters)
State Grid, GEB in talks to buy Brookfield’s Brazil power line. ( Bloomberg)
EMEA
Spectris rejects second KKR proposal in favour of Advent's $5bn bid. ( Press Release)
Eagle Football files confidentially for US IPO. ( Bloomberg)
APAC
Homeplus put up for sale as MBK Partners aims to avert liquidation.( Bloomberg)
Sanhua Intelligent Controls targets $1bn in Hong Kong IPO. (Bloomberg)
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AMERICAS
US President Donald Trump approved Nippon Steel's $14.9bn bid for US Steel, capping a tumultuous 18-month effort by the companies that survived union opposition and two national security reviews.
Trump signed an executive order saying the tie-up could move forward if the companies sign an agreement with the Treasury Department resolving national security concerns posed by the deal. The companies then announced they had signed the agreement, fulfilling the conditions of Trump's directive and effectively garnering approval for the merger.
Ridgemont Equity Partners, a private equity firm, completed the investment in Unosquare, a provider of nearshore AI-enabled digital engineering and data and analytics solutions, according to press releases. Financial terms were not disclosed.
Unosquare was advised by Clearsight Advisors and Benesch Friedlander Coplan & Aronoff. Ridgemont was advised by Robert W Baird and Goodwin Procter. Debt financing was provided by Barings, Crescent Direct Lending and Reinsurance Group of America, according to MergerLinks data and press releases.
Almaviva, an Italian provider of digital solutions and technological transformation, agreed to acquire TIVIT, an integrated IT and BPO services company that provides scalability, reliability and information security, from Apax Funds, a private equity firm, according to press releases. Financial terms were not disclosed.
TIVIT and Apax are advised by JP Morgan, Mattos Filho Veiga Filho Marrey Jr. e Quiroga Advogados and Skadden Arps Slate Meagher & Flom (led by A. Caroline M. Frizzo and Ann Beth Stebbins). Almaviva is advised by Benetti & Giammarino Advogados and L.O. Baptista Advogados, according to MergerLinks data and press releases.
Meta, an American multinational technology company, agreed to acquire a 49% stake in Scale AI, an AI company, for $14.3bn, according to press releases.
Scale AI is advised by Centerview Partners, Wilson Sonsini Goodrich & Rosati (led by Rezwan Pavri) and Joele Frank, according to MergerLinks data and press releases.
Beeline, a provider of workforce intelligence solutions, completed the acquisition of MBO Partners, a US-based company specializing in connecting independent professionals, from Emerald Lake Capital Management, a private equity firm, according to press releases. Financial terms were not disclosed.
MBO Partners was advised by Lazard and Kirkland & Ellis. Beeline was advised by Global Results Communications, according to MergerLinks data and press releases.
Datavant, a health data platform company, agreed to acquire Ontellus, a provider of health records retrieval and claims intelligence, from Aquiline, a private investment firm, according to press releases. Financial terms were not disclosed.
Ontellus is advised by Harris Williams & Co. Datavant is advised by Houlihan Lokey. Aquiline is advised by Willkie Farr & Gallagher (led by Jeffrey Poss and Thomas Sharkey), according to MergerLinks data and press releases.
Genesis Bank, a California state chartered commercial bank, completed the acquisition of Excel Bank, a tradename of EH National Bank, according to press releases. Financial terms were not disclosed.
Genesis Bank was advised by Holland & Knight, according to press releases.
Millicom International Cellular, a provider of fixed and mobile telecommunications services, agreed to acquire Telefónica Ecuador, a telecommunications company, for $380m, according to press releases.
General Catalyst, an investment and transformation company, led a $170m Series C round in Meter, a provider of internet infrastructure solutions for the enterprise, with participation from Baillie Gifford, Lachy Groom, JP Morgan, Microsoft, Sequoia Capital, Tishman Speyer, WndrCo, and 53 Stations, according to press releases.
Cox Enterprises, an American privately held global conglomerate, led a $125m Series C round in Gecko Robotics, the AI and robotics company, according to press releases.
Westwood, a full-service personal lines agency, agreed to acquire homebuilder distribution network of Hippo, an American property insurance company, according to press releases. Financial terms were not disclosed.
Pearson, a lifelong learning company, agreed to acquire eDynamic Learning, a career and technical education curriculum solutions provider, according to press releases. Financial terms were not disclosed.
Thermo Fisher plans to sell parts of diagnostics unit for $4bn. ( Reuters)
Thermo Fisher Scientific is reportedly preparing to divest its diagnostics division for approximately $4bn, aiming to shed some of its slower-growing assets.
The company has engaged advisers to assess private equity interest in segments of the diagnostics business, including the microbiology unit that manufactures equipment for infectious disease testing.
Google to terminate $200m contract with Scale AI after Meta acquires stake. ( Reuters)
Google, the largest client of AI data-labeling firm Scale AI, is reportedly planning to end its partnership with the startup following Meta's acquisition of a 49% stake in the company.
The search giant had intended to pay Scale approximately $200m in 2025 for manually labeled data essential to training advanced AI technologies, including those behind its Gemini model—a direct competitor to OpenAI’s ChatGPT. However, Meta’s significant investment has prompted Google to reconsider its relationship with the now partially Meta-owned Scale AI.
US trucker Forward Air attracts takeover interest from buyout firms. ( Reuters)
Private equity firms such as Blackstone and Apollo Global Management have shown interest in acquiring the US trucking company Forward Air.
These firms have entered into confidentiality agreements with Forward Air, giving them access to company documents and information needed to formulate a potential acquisition bid. Platinum Equity and Clearlake Capital have also signed similar agreements, allowing them to review relevant materials.
Blackstone said to be in talks to buy embattled Allegiant Resort. ( Bloomberg)
Blackstone is reportedly in discussions to acquire Allegiant Travel’s resort project near Las Vegas, which has been facing significant financial difficulties. The resort, developed by the same company that operates Allegiant Air, has been under strain due to funding issues and delays in construction.
The potential deal is still in early stages and might not materialize. The transaction would mark a strategic move by Blackstone, which has shown continued interest in hospitality and leisure assets.
Kenvue mulls sale of some skin health and beauty brands. ( Reuters)
Kenvue is considering selling several of its skin health and beauty brands as part of efforts to streamline its business and concentrate on core offerings.
The consumer health company, which separated from Johnson & Johnson in 2023, is focusing on divesting smaller brands within the segment, including Clean & Clear, Maui Moisture, Neostrata, the German baby care line Bebe, and the Japanese skincare brand Dr.Ci:Labo.
State Grid, GEB in talks to buy Brookfield’s Brazil power line. ( Bloomberg)
State Grid Corporation of China and Colombia's Grupo Energía Bogotá are reportedly in discussions to acquire a Brazilian power transmission line owned by Brookfield Asset Management. The asset in question is a significant part of Brazil's energy infrastructure, and the potential sale aligns with Brookfield's ongoing efforts to divest certain holdings.
The negotiations are still in preliminary stages, and there is no certainty that a deal will be finalized. If successful, this acquisition would enhance the presence of State Grid and Grupo Energía Bogotá in Brazil's electricity transmission sector.
EMEA
Global agribusiness Bunge Global has received regulatory approval from China for its merger with Glencore-backed grain handler Viterra, the final hurdle for its $34bn mega-deal announced two years ago.
The Missouri-based company expects to close the largest-ever global agriculture merger by dollar value "on or around July 2".
Bridgepoint, a British private investment company, agreed to acquire a controlling stake in Safe Life, a company that operates and develops a group of companies that provides life-saving equipment and related training, according to press releases. Financial terms were not disclosed.
Safe Life is advised by Baker McKenzie. Bridgepoint is advised by Ernst & Young, Jefferies & Company, Vinge, ERM Group, Marsh and strategy&, according to MergerLinks data and press releases.
MPE Partners, an investment firm, offered to acquire Renold, a manufacturer of industrial chains and related power transmission products, for £187m ($254m), according to press releases.
Renold is advised by Peel Hunt (led by Mike Bell) and Eversheds Sutherland. MPE Partners is advised by Moelis & Co (led by Chris Raff) and Jones Day , according to press releases.
DNO, a Norwegian oil and gas operator, completed the acquisition of Sval Energi, a Norwegian energy company, from HitecVision, a private equity group, for $450m, according to press releases.
DNO was advised by Pareto Securities and Thommessen. HitecVision was advised by Jefferies & Company, according to MergerLinks data and press releases.
DHL Group, a global logistics provider, completed the acquisition of CRYOPDP, a specialty courier focused on clinical trials, biopharma, and cell and gene therapies, from Cryoport, a supply chain solutions provider for the life sciences with an emphasis on cell and gene therapies, according to press releases. Financial terms were not disclosed.
Bullhound Capital, an investment firm, led a $215m Series B round in Multiverse Computing, a quantum software company, with participation from HP Tech Ventures, SETT, Forgepoint Capital International, CDP Venture Capital, Santander Climate VC, Quantonation, Toshiba and Capital Riesgo de Euskadi - Grupo SPRI, according to press releases.
Multiverse Computing was advised by LaunchSquad, according to MergerLinks data and press releases.
Groupe BPCE, a French banking group, agreed to acquire a 75% stake in Novo Banco, a Portuguese financial bank, from Lone Star Funds, a private equity firm, for €4.8bn ($5.5bn), according to press releases.
Allegion, a provider of security products, agreed to acquire ELATEC, a manufacturer of security and access technology, from Summit Partners, an investment firm, for €330m ($378m), according to press releases.
Spectris rejects second KKR proposal in favour of Advent's $5bn bid. ( Press Release)
Britain's Spectris rejected a second takeover proposal from private equity firm KKR, days after the scientific instruments maker backed a possible competing $5bn bid from Advent International.
No further proposal from KKR has been received. KKR has requested access to equivalent due diligence information as provided by Spectris to Advent International.
Spectris is advised by Teneo, Goldman Sachs and Rothschild & Co.
Eagle Football files confidentially for US IPO. ( Bloomberg)
Eagle Football Holdings, a global investor in football clubs, has confidentially filed for an initial public offering in the United States.
The company—which owns over 40% of English FA Cup champions Crystal Palace—has submitted a draft registration statement to the US Securities and Exchange Commission.
APAC
Homeplus put up for sale as MBK Partners aims to avert liquidation.( Bloomberg)
Homeplus, a struggling South Korean retail chain, is now open to acquisition as its private equity owner, MBK Partners, seeks to avoid liquidating the business.
The decision follows a recent evaluation indicating that Homeplus's liquidation value is higher than its value as a continuing business, prompting the firm to explore a potential sale.
Sanhua Intelligent Controls targets $1bn in Hong Kong IPO. ( Bloomberg)
Zhejiang Sanhua Intelligent Controls has launched its Hong Kong initial public offering, aiming to raise up to HKD8.12bn ($1bn), marking one of the latest major deals supporting the city's stock market revival.
The Chinese firm began accepting investor subscriptions on June 13 for 360m shares. The shares are priced between HKD21.21 ($2.7) and HKD22.53 ($2.87) each, with an option available to increase the offering size.
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