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Top Highlights
Rexel, a France-based electrical products and services distribution company, agreed to acquire Genuine Cable Group, a distributor of electrical and communication products, from Audax Private Equity, an investment firm, in a $1.4bn deal, according to press releases.
Genuine Cable Group and Audax Private Equity are advised by JP Morgan, Solomon Partners, Fredrikson & Byron and Kirkland & Ellis. GCG is also advised by Breakaway Communications. Rexel is advised by Guggenheim Partners, Rothschild & Co, Sidley Austin and Taddeo, according to press releases and MergerLinks data.
Bridgepoint, a private equity firm, agreed to acquire a majority stake in Altano Group, a equine veterinary group, from Ufenau Capital Partners, a private equity firm, according to press releases. Financial terms were not disclosed.
Bridgepoint is advised by Bain & Co, Ernst & Young, JP Morgan, KPMG, Rothschild & Co and Kirkland & Ellis (led by Sebastian Pitz, Tobias Larisch and Hendrik Braun). Ufenau Capital is advised by McKinsey & Company, Jefferies & Company, PricewaterhouseCoopers and GÖRG Partnerschaft von Rechtsanwälten, according to press releases.
Madison Dearborn Partners, a private equity firm, agreed to acquire The Marygold Companies, a US-listed diversified holding company, for approximately $85.5m, according to press releases.
The Marygold Companies is advised by Holland & Hart and PondelWilkinson (led by Roger Pondel). Madison Dearborn Partners is advised by RBC Capital Markets, Morgan Lewis & Bockius, Paul Weiss Rifkind Wharton & Garrison (led by Adam M. Givertz) and H/Advisors (led by Dana Gorman), according to MergerLinks data and press releases.
AMERICAS
MGM discusses bid for Barry Diller's People. ( Reuters)
Akamai signs $11.6bn cloud deal with Anthropic and grants warrant for up to 5% stake. ( Reuters)
BP explored acquisition of Devon Energy's Eagle Ford operations. ( Reuters)
Telefónica weighs sale of Venezuelan unit as potential buyers submit offers. ( Bloomberg)
EMEA
Nubank in talks to acquire Monzo at up to £10bn valuation. ( Sky News)
Apax nears deal to acquire Warburg Pincus' stake in Odido at €6.5bn valuation. ( FT)
Erste Bank plans to raise stake in Erste Bank Polska by up to 26%. ( Reuters)
BASF approaches Evonik over potential takeover. ( FT)
Wellma owner seeks more than €1bn sale. ( Bloomberg)
Liberty Global shortlists three bidders for stake in Belgium’s Wyre. (Bloomberg)
Italy’s CDP in talks with Gulf investors over sale of up to 35% stake in Ansaldo Energia. (Reuters)
Commerzbank weighs acquiring UniCredit’s HVB as part of potential bank tie-up. (Reuters)
Delivery Hero cancels CEO exit plans amid Uber's $14.8bn takeover. ( WSJ)
APAC
Gold Fields expresses interest in acquiring Northern Star Resources. ( Bloomberg)
South Eastern Coalfields hires banks for up to $800m IPO. ( Bloomberg)
Coal India’s SECL hires banks for potential $800m IPO. ( Bloomberg)
Asset World targets at least $1bn from Thailand REIT IPO. ( Bloomberg)
Allied Blenders and Distillers founders consider potential stake sale. ( Bloomberg)
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AMERICAS
Iridium shareholders have voted in favor of Rocket Lab's acquisition of the company, adopting the previously announced merger agreement. The proposal received strong support, with 99.6% of votes cast approving the transaction and representing 81.0% of Iridium's outstanding voting shares.
Select Water Solutions, a provider of water infrastructure, recycling, and water management services for the energy industry, agreed to acquire Pilot Water Solutions, a water midstream company, for $715m, according to press releases.
Arcline-backed DwyerOmega, a company specializing in measurement and control solutions, completed the acquisition of SOR Controls Group, a company focused on process instrumentation and measurement technologies for pressure, temperature, level, and flow applications, according to press releases. Financial terms were not disclosed.
Omada, a company specializing in identity governance and administration software, completed the acquisition of EmpowerID, a company focused on identity security, authorization, and AI agent governance solutions, according to press releases. Financial terms were not disclosed.
Omada was advised by Stephens and Force4 Technology Communications (led by Corey Eldridge), according to press releases.
RS2 Healthcare Partners, a private equity firm, completed the investment in KMM Group, a vertically integrated precision contract manufacturer, according to press releases. Financial terms were not disclosed.
RS2 Healthcare Partners was advised by Choate Hall & Stewart, according to press releases.
CDW, a technology company specializing in IT solutions and services, completed the acquisition of Lovelytics, a data and AI consulting firm, from Databricks Ventures, a corporate venture capital arm of Databricks, for $525m, according to press releases.
RedBird Capital Partners, a private investment firm, agreed to acquire a majority stake in Puck, a subscription-based media company, from Standard Investments, an investment firm, and TPG, a private equity firm, according to press releases. Financial terms were not disclosed.
MGM discusses bid for Barry Diller's People. ( Reuters)
MGM Resorts International is discussing making a bid to acquire Barry Diller's People, with a potential proposal expected in the coming days.
Akamai signs $11.6bn cloud deal with Anthropic and grants warrant for up to 5% stake. ( Reuters)
Akamai Technologies signed an $11.6bn cloud services agreement with Anthropic and issued the AI company a warrant that could give it a stake of up to 5% in Akamai.
The agreement provides Anthropic with long-term cloud infrastructure and adds to Akamai's multi-year cloud contracts signed this year.
BP explored acquisition of Devon Energy's Eagle Ford operations. ( Reuters)
BP explored a potential acquisition of Devon Energy's Eagle Ford operations in South Texas, but has since backed away from pursuing the transaction.
The potential deal came as BP refocused its strategy on its traditional oil and gas business after years of prioritizing renewable energy investments.
Telefónica weighs sale of Venezuelan unit as potential buyers submit offers. ( Bloomberg)
Telefónica is reportedly exploring the sale of its Venezuelan telecommunications business, reviving efforts to exit the country after operating there for around 35 years. The Spanish telecom group has received several preliminary offers for the unit and is evaluating potential buyers, although discussions remain at an early stage and there is no certainty that a transaction will be completed. The business operates under the Movistar brand in Venezuela.
The potential divestment would form part of Telefónica's broader strategy of reducing its exposure to Latin America and concentrating investment on core markets, particularly Spain, Germany, the UK and Brazil. Telefónica has progressively divested businesses across the region, making Venezuela one of its remaining Latin American operations outside Brazil. A disposal would therefore represent another step in the group's multi-year portfolio simplification strategy.
EMEA
Peel has increased its cash offer for Harworth Group to a best and final 187p ($2.48) per share, valuing the UK land and property regeneration company at approximately £632m, according to press releases.
Emergence Capital, a private equity firm, led a $189m Series B investment in Verda, a Finnish full-stack AI cloud and computing infrastructure company, with participation from MUFG Innovation Partners, Supermicro, Varma Mutual Pension Insurance Company, Lifeline Ventures, ENDUR, 6 Degrees Capital (6DC), byFounders, Tesi (Finnish Industry Investment), and a group of angel investors including Ola Tørudbakken and Mark Saroufim, according to press releases.
Genel Energy raised its cash bid for Capricorn Energy to $436m, surpassing a competing offer from DNO and regaining the support of Capricorn's board following a prolonged takeover battle. Capricorn's shares jumped 12.2% to a more than 15-year high of 443 pence, while Genel Energy's stock fell 2.1%.
Capricorn Energy is advised by Canaccord Genuity (led by Henry Fitzgerald-O'Connor), Moelis & Co (led by Chris Raff and Ali Hassen), Ashurst Perkins Coie (led by Harry Thimont), and Camarco (led by Georgia Edmonds). Genel Energy is advised by Jefferies & Company, PJT Partners (led by Ben Monaghan), Linklaters (led by James Inglis, Thomas Bishop, Fionna Ng, and Sam Mahboubian), Mourant Ozannes, and Vigo Consulting (led by Patrick d'Ancona). Debt financing is provided by Mauritius Commercial Bank, according to press releases and MergerLinks data.
Shareholders of British automotive software company Pinewood Technologies have approved Ridgeview Partners' £545m ($410m) take-private acquisition.
At a meeting held, 99.76% of votes cast supported the transaction, which values the company at £4.48 ($3.37) per share in cash and was unanimously recommended by Pinewood's board in August.
Swiss entrepreneurs Sara and Christoph Hürlimann completed the acquisition of SF-Filter Group, a distributor of filtration products, from Equistone Partners, a private equity firm, according to press releases. Financial terms were not disclosed.
SF-Filter Group was advised by Niederer Kraft & Frey (led by Roman Sturzenegger). Sara and Christoph Hürlimann were advised by Homburger (led by Frank Gerhard), according to press releases.
Arcturus Therapeutics, a US biotechnology company, agreed to acquire myNEO, a Belgian precision medicine and biotechnology company, from Novalis Biotech, a private equity firm, according to press releases. Financial terms were not disclosed.
Novalis Biotech is advised by Van Lanschot Kempen, according to press releases and MergerLinks data.
Eaton, a power management company specializing in electrical and industrial power solutions, agreed to acquire COL Group, an industrial group specializing in electrical power distribution solutions, from Oaktree Power Opportunities, an infrastructure investment strategy managed by Oaktree, for €810m, according to press releases.
Atmail, a company specializing in email technology and cloud messaging services, agreed to acquire the consumer email service from Virgin Media, a telecommunications provider focused on broadband, mobile, television, and voice services, according to press releases. Financial terms were not disclosed.
Nubank in talks to acquire Monzo at up to £10bn valuation. ( Sky News)
Nubank is in early-stage talks to acquire Monzo in a potential transaction that could value the UK digital bank at between £8bn and £10bn ($10.6bn-$13.25bn).
Monzo is also considering a new funding round at a valuation of more than £8bn ($10.6bn), with proceeds expected to support its expansion into mainland Europe.
Apax nears deal to acquire Warburg Pincus' stake in Odido at €6.5bn valuation. ( FT)
Apax is nearing a deal to acquire Warburg Pincus' stake in Dutch telecoms group Odido, valuing the company at approximately €6.5bn ($7.4bn). Apax and Warburg Pincus currently jointly own the business.
The potential deal follows Odido's postponed Amsterdam IPO in February. The owners have also received interest from other suitors, including STC.
Erste Bank plans to raise stake in Erste Bank Polska by up to 26%. ( Reuters)
Erste Group Bank plans to launch a tender offer to acquire an additional stake of up to 26% in Erste Bank Polska, increasing its exposure to the Polish banking market.
BASF approaches Evonik over potential takeover. ( FT)
BASF has approached German chemicals peer Evonik over a potential takeover that could strengthen its portfolio amid increasing competition from China.
BASF confirmed it is in exploratory talks and said it continuously evaluates acquisitions that strengthen its core businesses and support profitable growth.
Wellma owner seeks more than €1bn sale. ( Bloomberg)
Systematic Growth is planning a potential sale of Swedish health supplements maker Wellma that could value the company at more than €1bn ($1.1bn).
The firm is working with an adviser, with a sale process expected to launch in October.
Liberty Global shortlists three bidders for stake in Belgium’s Wyre. (Bloomberg )
Liberty Global has shortlisted Ardian, InfraVia Capital Partners and Ontario Teachers’ Pension Plan for the next round of bidding for a stake in Belgian fibre network operator Wyre. Liberty Global is seeking to sell around half of its 66% interest in Wyre, with the stake previously indicated to be worth around €1bn ($1.2bn). Goldman Sachs is advising Liberty Global on the sale.
The sale process remains ongoing, and the size and timing of the transaction could still change, with no preferred bidder or final agreement announced. Liberty Global intends to retain its remaining interest in Wyre following the transaction, while proceeds from the stake sale are earmarked to support the deleveraging of Telenet.
Italy’s CDP in talks with Gulf investors over sale of up to 35% stake in Ansaldo Energia. (Reuters)
Italy’s state-backed Cassa Depositi e Prestiti is in talks with Gulf investors, including Abu Dhabi sovereign wealth fund Mubadala, over the potential sale of a 15%-35% stake in Ansaldo Energia. CDP, which owns 99.6% of the Italian energy engineering company through CDP Equity, is considering bringing in a minority investor while retaining control of the business.
Discussions with Mubadala are reportedly more advanced than those with other potential Gulf investors, although negotiations remain ongoing and no final agreement has been reached. The potential transaction could also involve a broader strategic partnership between Ansaldo Energia and the incoming investor. No valuation or definitive terms have been disclosed, and CDP, Mubadala and Ansaldo Energia declined to comment on the reported talks.
Commerzbank weighs acquiring UniCredit’s HVB as part of potential bank tie-up. (Reuters)
Commerzbank could acquire UniCredit’s German subsidiary HypoVereinsbank (HVB) as part of a potential combination between the two banking groups, Chief Executive Bettina Orlopp said on September 24. One possible structure would see Commerzbank purchase HVB using shares, allowing UniCredit to increase its ownership in Commerzbank. Orlopp described the structure as one of several options currently under consideration as discussions between the banks progress.
Other potential structures include a direct merger between Commerzbank and UniCredit, or a further offer by UniCredit to Commerzbank’s remaining shareholders, potentially at a premium, that could lift the Italian bank’s ownership above 90%. UniCredit has been pursuing a combination with Commerzbank for more than two years and has accumulated a stake of nearly 50%, despite earlier political resistance in Germany.
Delivery Hero cancels CEO exit plans amid Uber's $14.8bn takeover. ( WSJ)
Delivery Hero said co-founder and CEO Niklas Östberg will remain chief executive beyond March 2027, reversing previously announced plans for his departure.
APAC
GOWell, a global one-stop-shop for innovative well logging solutions in the energy sector, went public via a SPAC merger with Maywood Acquisition, a special purpose acquisition company, in a $400m deal, according to press releases.
GOWell was advised by Haitong Securities, Hunter Taubman Fischer & Li, Ogier and Gateway Group. Maywood Acquisition was advised by Cantor Fitzgerald, Cohen & Company Capital Markets, Conyers Dill & Pearman and White & Case, according to press releases and MergerLinks data.
Carlyle Group, an American multinational private equity firm, completed the acquisition of a 45% stake in Nido Home Finance, a housing finance company, from Edelweiss, an investment and financial services company, for $230m, according to press releases.
Novotech, a clinical research organisation and scientific advisory company, agreed to acquire Agilex Biolabs, a specialist bioanalytical laboratory business, from Healius, an Australian healthcare company, according to press releases. Financial terms were not disclosed.
Healius is advised by UBS and King & Wood Mallesons, according to press releases.
The Elmet Group, a provider of precision-engineered components and advanced high-energy systems, agreed to acquire a 4.99% stake in Masan High-Tech Materials, an integrated tungsten mining, refining and advanced materials company, from Masan Group, a Vietnamese consumer, retail and industrial conglomerate, for $124.8m, according to press releases.
Masan High-Tech Materials is advised by Jefferies & Company, according to press releases.
Gold Fields expresses interest in acquiring Northern Star Resources. ( Bloomberg)
Gold Fields has approached Northern Star Resources about a potential acquisition that would expand the South African miner's exposure to Australian gold assets.
Northern Star rejected the approach, while Gold Fields is considering its next steps and whether to pursue a potential transaction.
South Eastern Coalfields hires banks for up to $800m IPO. ( Bloomberg)
South Eastern Coalfields, a unit of Coal India, has hired banks for a Mumbai IPO that could raise as much as $800m.
The company aims to file a draft prospectus as early as December, with parent Coal India expected to sell shares in the offering.
Coal India’s SECL hires banks for potential $800m IPO. ( Bloomberg)
South Eastern Coalfields, a subsidiary of state-owned Coal India, has appointed ICICI Securities, SBI Capital Markets, Motilal Oswal Investment Advisors and IDBI Capital Markets & Securities to advise on a proposed Mumbai IPO that could raise up to $800m. Coal India is expected to sell part of its stake through an offer for sale (OFS) as part of the proposed listing.
SECL is targeting the filing of its draft prospectus as early as December 2026. Discussions remain ongoing and the final offering size and timing could change, with the stake size and valuation yet to be disclosed. The proposed IPO remains at the preparatory stage, with the appointment of advisers marking the latest step toward a potential listing.
Asset World targets at least $1bn from Thailand REIT IPO. ( Bloomberg)
Thailand’s Asset World Corp (AWC), controlled by billionaire Charoen Sirivadhanabhakdi, is preparing to raise at least $1bn through the IPO of a new real estate investment trust on the Stock Exchange of Thailand in early 2027. The REIT is expected to initially acquire five properties from AWC — four hotels and Bangkok’s Empire office building — valued at around THB48bn ($1.44bn), with foreign institutional investors expected to account for roughly half of the offering.
AWC plans to retain up to a 28% stake in the REIT, using the vehicle to divest mature, income-generating properties and recycle proceeds into new developments. Additional AWC properties could subsequently be transferred into the REIT, while the final offering size and terms remain subject to the regulatory filing and listing process.
Allied Blenders and Distillers founders consider potential stake sale. ( Bloomberg)
The Chhabria family is considering options including a potential sale of its stake in Indian liquor company Allied Blenders and Distillers to a strategic buyer.
The family could initially sell part of its stake, allowing a buyer to potentially build a controlling interest over time, while other options are also being evaluated.
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