Roche to acquire 89bio in a $3.5 billion deal.

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AMERICAS

Kennedy Wilson to acquire the apartment living platform of Toll Brothers for $347m.

Kennedy Wilson, a real estate investment firm, agreed to acquire the apartment living platform of Toll Brothers, an American homebuilding company, for $347m, according to press releases.

Kennedy Wilson is advised by JP Morgan and Latham & Watkins. Toll Brothers is advised by Goldman Sachs, Vestra Advisors and Fried Frank Harris Shriver & Jacobson, according to press releases.

Astira Capital Partners completes the acquisition of Altus from ARMStrong.

Astira Capital Partners, a private equity firm, completed the acquisition of Altus, a provider of commercial receivables management solutions, from ARMStrong, a provider of commercial accounts receivable management and related insurance services, according to press releases. Financial terms were not disclosed.

Astira Capital Partners was advised by Houlihan Lokey and Kirkland & Ellis. ARMStrong was advised by Guggenheim Partners and Greenberg Traurig, according to press releases.

Franchise Equity Partners completes the acquisition of a majority stake in 7 Crew.

Franchise Equity Partners, a private investment firm, completed the acquisition of a majority stake in 7 Crew, a coffee brand, according to press releases. Financial terms were not disclosed.

7 Crew was advised by Willkie Farr & Gallagher (led by Jonathan Platt). Franchise Equity Partners was advised by Davis Wright Tremaine and Fish 919. Debt financing was provided by HPS Investment Partners, according to press releases.

West Monroe completes the acquisition of 2050 Partners.

West Monroe, a global business and technology consulting firm, completed the acquisition of 2050 Partners, a consulting firm that helps utilities and clients across the energy sector manage rising demand through customer-focused energy efficiency programs and navigate clean energy regulations, according to press releases. Financial terms were not disclosed.

2050 Partners was advised by DelMorgan & Co and Donahue Fitzgerald. West Monroe was advised by Willkie Farr & Gallagher (led by Hugh McLaughlin and Kevin O'Mara) and West Monroe Partners, according to press releases.

CPS Energy to acquire four natural gas power generation facilities from PROENERGY for $1.4bn.

CPS Energy, a natural gas and electric company, agreed to acquire four natural gas power generation facilities from PROENERGY, an engineering, R&D, and manufacturing powerhouse, for $1.4bn, according to press releases.

CPS Energy is advised by JP Morgan and Dykema. PROENERGY is advised by CIBC World Markets and Latham & Watkins, according to press releases.

Commercial Metals Company to acquire Concrete Pipe & Precast from Eagle Corporation and ECPP for $675m.

Commercial Metals Company, a steel and metal manufacturer, agreed to acquire Concrete Pipe & Precast, a supplier of precast concrete solutions to the US Mid-Atlantic and South Atlantic regions, from Eagle Corporation, and ECPP, two holding companies, for $675m, according to press releases.

Commercial Metals Company is advised by Moelis & Co and Willkie Farr & Gallagher, according to press releases.

IonQ to acquire Vector Atomic.

IonQ, an American quantum computing hardware and software company, agreed to acquire Vector Atomic, a quantum technology company, according to press releases. Financial terms were not disclosed.

IonQ is advised by Paul Weiss Rifkind Wharton & Garrison (led by Chelsea Darnell), according to press releases.

Pentair completes the acquisition of Hydra-Stop for $290m.

Pentair, a global water company, completed the acquisition of Hydra-Stop, a valve solutions company, for $290m, according to press releases.

Hydra-Stop was advised by Jefferies & Company, according to MergerLinks data.

Nvidia to invest $5bn in Intel.

Nvidia, an American multinational technology company, agreed to invest $5bn in Intel, a technology company, according to press releases.

Heartland completes the acquisition of SlimFast from Glanbia.

Heartland, a producer of low-calorie sweeteners, coffee, coffee creamers, beverages and nutritional beverages, completed the acquisition of SlimFast, an American brand of low-calorie meal replacement products, from Glanbia, a global nutrition company, according to press releases. Financial terms were not disclosed.

Blackstone and TPG revive interest in buying Hologic. (Reuters)

Private equity firms Blackstone and TPG renewed their interest in acquiring medical diagnostics company Hologic in what could be one of the largest healthcare take-private deals this year.

Talks between the parties have been on and off over the past year and could still fall apart. Compensation terms for Hologic's CEO Steve MacMillan and recent stock depreciation are viewed by investors as incentives for a sale.

Purell maker GOJO Industries explores options including a sale. (Reuters)

Purell hand sanitizer maker GOJO Industries is considering options including a full sale or selling a minority stake, with the company likely valued at around $2bn.

GOJO is in talks with private equity firms and working with investment bank Harris Williams. Discussions are at an early stage and no deal is guaranteed.

Anglo-Teck merger to unlock Chile mine synergies if Glencore signs off. (Reuters)

The proposed Anglo American–Teck merger has revived ambitions to share infrastructure at two major mines in northern Chile, but the plan could face hurdles to gain approval from Swiss miner and trader Glencore.

Glencore is an equal partner with London-listed Anglo at Collahuasi, one of the world’s largest copper deposits, located about 10 km from Canadian miner Teck’s flagship Quebrada Blanca mine.

EMEA

Radian to acquire Inigo for $1.7bn.

Radian, a provider of private mortgage insurance, risk management products and real estate services, agreed to acquire Inigo, a London-based specialty insurance company, for $1.7bn, according to press releases.

Radian is advised by Goldman Sachs, Guy Carpenter, RBC Capital Markets and Skadden Arps Slate Meagher & Flom (led by Todd Freed and George Gray), according to press releases.

Acuity to acquire Ascent.

Acuity, a global provider of bespoke research, data management, analytics and AI solutions to the financial services sector, agreed to acquire Ascent, a European provider of AI-powered digital transformation services, according to press releases. Financial terms were not disclosed.

Acuity is advised by DC Advisory. Ascent is advised by Canaccord Genuity, according to press releases.

Mercury/13 to acquire a majority stake in Bristol City Women from Hargreaves Lansdown.

Mercury/13, an investment group targeting women's football, agreed to acquire a majority stake in Bristol City Women, a women's association football team, from Hargreaves Lansdown, a UK-based financial services company, according to press releases. Financial terms were not disclosed.

Mercury/13 is advised by Deloitte and Northridge Law, according to press releases.

Azzurra Capital to acquire a 25% stake in Proger for €222m.

Azzurra Capital, an international private equity firm, agreed to acquire a 25% stake in Proger, an engineering company, for €222m ($263m), according to press releases.

Proger is advised by Mediobanca, according to press releases.

APAC

A consortium led by XRG failed to acquire Santos for $18.7bn.

A consortium led by XRG, the investment arm of ADNOC, a state-owned oil company of the UAE, failed to acquire Santos, an Australian oil and gas exploration and production company, for $18.7bn, according to press releases.

Sumitomo Mitsui Banking Corporation completes the acquisition of a 20% stake in Yes Bank for $1.58bn.

Sumitomo Mitsui Banking Corporation, a major Japanese multinational banking and financial services institution, completed the acquisition of a 20% stake in Yes Bank, a private commercial bank in India, for $1.58bn, according to press releases.

Yes Bank was advised by Citigroup and AZB & Partners (led by Abhilash Chandran). SMBC was advised by Jefferies & Company and J. Sagar Associates (led by Vikram Raghani). State Bank of India was advised by S&R Associates (led by Dhruv Nath and Rajat Sethi), according to press releases.

Temasek’s global unit to seek big deals, ditch smaller holdings. (Bloomberg)

Temasek Holdings’ newly created global investments unit will largely avoid smaller deals as it looks to manage fewer positions in a challenging investing environment, incoming president Nagi Hamiyeh said. The Singapore state-owned investor’s unit will target transactions in the €500m–€1bn ($590m–$1.2bn) range.

Hamiyeh, appointed to lead Temasek Global Investments, will oversee S$155bn ($121bn) in assets as of March, about 36% of the firm’s portfolio. The unit will begin operations on April 1 as part of a wider reorganization.

GE Healthcare said to explore selling stake in China business. (Bloomberg)

GE Healthcare Technologies is considering options including selling a stake in its China unit. The US medical technology company has been working with advisers to assess the business, with a potential deal valuing the China assets at several bn dollars. Talks are still at an early stage and no final decisions have been made on the timing or size of a possible sale.

GE Healthcare declined to comment, stating only that the company remains committed to serving patients and customers in China, one of the world’s largest healthcare markets.

SMFG mulls raising Jefferies stake to about 20% as ties deepen. (Bloomberg)

Sumitomo Mitsui Financial Group is considering increasing its stake in US investment bank Jefferies Financial Group as the Japanese lender strengthens ties.

Tokyo-based Sumitomo Mitsui is in talks to boost its roughly 15% stake, potentially by acquiring preferred stock. One option under discussion is investing more than JPY100bn ($677m) to raise its ownership to about 20%.

Thai retailer’s shares plunge on plan to sell Italy business. (Bloomberg)

Central Retail Corporation’s shares fell the most in nearly five years after it announced plans to sell its high-end department store business Rinascente in Italy, a move investors expect will hurt earnings.

The company, one of Thailand’s biggest retailers, plans to sell Rinascente to Harng Central Department Store, a major shareholder, for €250m ($295m) to focus on operations in Southeast Asia. Harng Central also proposed to assume and repay the shareholder loan owed by CRC Holland, a Central Retail unit that runs Rinascente stores.

Zijin Gold said to draw GIC, Millennium as investors for Hong Kong IPO. (Bloomberg)

GIC, Millennium Management and Hillhouse Investment are among major investors set to back Zijin Gold International’s initial public offering in Hong Kong. BlackRock, Fidelity International and Baillie Gifford are also cornerstone investors expected to take about half of the IPO shares.

The strong lineup signals high demand for what will be the world’s biggest listing since May. Zijin Gold plans to start taking orders from other investors and the public in a deal that may raise more than $3bn.

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