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Top Highlights
Shift4, an integrated payments and commerce technology company, agreed to acquire Global Blue, a specialty payments and technology platform, for $2.5bn.
Shift4 is advised by Goldman Sachs, Latham & Watkins (led by Leah R. Sauter), Loyens & Loeff (led by Marco Toni) and ICR. Global Blue is advised by Deutsche Bank, IFBC, Oppenheimer & Co., PJT Partners, UBS, JP Morgan, Niederer Kraft & Frey and Simpson Thacher & Bartlett, according to press releases.
Grovecourt Capital Partners, a private equity firm, completed the acquisition of IMRIS, an intraoperative MRI solution company. Financial terms were not disclosed.
IMRIS was advised by CMD Global Partners. Grovecourt Capital Partners was advised by Holland & Knight and BackBay Communications (led by Jeremy Milner). Debt financing was provided by Bell Capital Finance, Farragut Capital and Ocean Avenue Capital Partners, according to press releases.
Caleres, a portfolio of consumer-driven footwear brands, agreed to acquire Stuart Weitzman, a global luxury footwear brand, from Tapestry, a house of iconic accessories and lifestyle brands, for $105m, according to press releases.
Caleres is advised by Bank of America and Bryan Cave Leighton Paisner (BCLP). Tapestry is advised by Morgan Stanley and Latham & Watkins (led by Leah R. Sauter and Charles Ruck), according to press releases.
Deal Round up
AMERICAS
Silver Lake in talks to buy majority stake in Intel's Altera unit. ( Bloomberg)
Roper Technologies explores $4bn Neptune unit sale. ( Bloomberg)
EU antitrust regulators quiz rivals and customers on Safran, Collins deal. ( Reuters)
Ancora releases demand letter sent to the US Steel board. ( Press Release)
EMEA
Italy's Poste ready to raise Telecom Italia stake as M&A looms. ( Reuters)
Prada works with advisers to evaluate possible Versace bid. ( Bloomberg)
APAC
Resonac explores options for JSR takeover. ( Bloomberg)
Hexaware makes history with India’s largest IT services IPO. ( Press Release)
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AMERICAS
Elliott Investment Management, which manages funds that together have an investment of more than $1.5bn in Aspen Technology, on February 19 issued the following statement regarding the tender offer by Emerson Electric for all AspenTech shares it does not currently own.
"Emerson's proposal to acquire AspenTech is clearly the result of a conflicted and deeply flawed process, bearing all the hallmarks of an opportunistic minority squeeze-out. Furthermore, Emerson's public statements and actions leading up to the commencement of the Tender Offer underscore its coercive intent toward minority stockholders. This transaction is unfair to minority stockholders, and we intend to pursue all appropriate remedies against Emerson," Elliott Investment Management.
Citigroup and UBS Group are arranging around €2bn ($2.1bn) in financing to support Bain Capital’s purchase of German facility-management firm Apleona Group—a rare transaction amid a slowdown in acquisitions in recent years.
The two banks are heading up the leveraged loan funding, which is expected to be offered to institutional investors through a syndication process next month. Additional banks may join the process soon.
Planview, a platform for Strategic Portfolio Management and Digital Product Development, completed the acquisition of Sciforma, a portfolio and project management software, according to press releases. Financial terms were not disclosed.
Sciforma was advised by Robert W Baird and DLA Piper. Planview was advised by Gide Loyrette Nouel and Ropes & Gray, according to Mergerlinks data and press releases.
Sandbrook Capital, a private equity firm that invests in energy infrastructure, agreed to acquire intellirent division from Electro Rent, a global provider of testing and technology solutions. Financial terms were not disclosed.
Electro Rent and Platinum Equity are advised by Harris Williams & Co and Latham & Watkins, according to press releases.
Pershing Square, announced that it has submitted a revised $900m non-binding proposal to the Special Committee of Howard Hughes Holdings.
This updated proposal reflects feedback from HHH shareholders and the Special Committee and replaces the previously disclosed non-binding proposal of January 13, 2025, which has now been withdrawn.
Howard Hughes is advised by Morgan Stanley, according to Mergerlinks data and press releases.
HP, a global technology company, agreed to acquire key AI capabilities from Humane, an American consumer electronics company, for $116m, according to press releases.
Hims & Hers, a health and wellness platform, completed the acquisition of Sigmund Labs, a lab testing facility. Financial terms were not dislosed.
Silver Lake in talks to buy majority stake in Intel's Altera unit. ( Bloomberg)
Silver Lake Management is engaged in exclusive negotiations to acquire a majority stake in Altera, Intel's programmable chip division.
The private equity firm is currently still negotiating the exact stake size, but plans to value Altera at about $9bn.
Historically, Silver Lake has worked with JP Morgan, Goldman Sachs, Simpson Thacher & Bartlett and Latham & Watkins, according to MergerLinks data.
Rosebank Industries has confirmed ongoing discussions regarding a potential acquisition of Electrical Components International, a US-based manufacturer of electrical distribution systems.
While the terms of the deal remain confidential, Rosebank stated that the acquisition aligns with its strategic goals and would be financed through a mix of new equity issuance and debt financing.
Roper Technologies explores $4bn Neptune unit sale. ( Bloomberg)
Roper Technologies is considering selling its Neptune Technology division, a data collection systems and water measurement products developer.
The Sarasota, Florida-based company has indicated that the division could be valued at up to $4bn in a potential sale and engaged advisers to attract interest from potential buyers.
EU antitrust regulators quiz rivals and customers on Safran, Collins deal. ( Reuters)
The European Commission has sent questionnaires to competitors and customers to examine the conglomerate effects, meaning the impact of a merger between companies in different sectors.
Ancora releases demand letter sent to the US Steel board. ( Press Release)
Ancora, an activist investment advisor, sent a formal letter to the US Steel board requesting access to corporate books and records of the company.
EMEA
Kontoor Brands, a global lifestyle apparel company, agreed to acquire Helly Hansen, a global outdoor and workwear brand, from Canadian Tire Corporation, a retail company, for $900m, according to press releases.
Kontoor Brands is advised by Morgan Stanley and Foley & Lardner, according to press releases.
ACWA Power, a developer, investor, co-owner and operator of a portfolio of power generation and desalinated water production plants, agreed to acquire Bahrain and Kuwait assets from Engie, a French multinational electric utility company, for $693m.
ACWA Power is advised by Goldman Sachs and King & Spalding, according to press releases.
Yinson Holding, a private equity firm, completed the acquisition of Stella Maris CCS, a carbon capture and storage company, from Altera Infrastructure, a global energy infrastructure services provider serving offshore oil and gas industry. Financial terms were not disclosed.
Altera Infrastructure was advised by Jefferies & Company, according to press releases.
Bank of Bahrain and Kuwait, a retail and commercial bank, agreed to acquire Bahrain retail business of HSBC, a British universal bank and financial services group, according to press releases. Financial terms were not disclosed.
Italy's Poste ready to raise Telecom Italia stake as M&A looms. ( Reuters)
The move comes as Italy’s telecom sector faces intensifying price competition, which has squeezed profit margins and hindered investment.
Historically, Poste Italiane has worked with Lincoln International, Lazard, Grimaldi Studio Legale and Gianni & Origoni, according to MergerLinks data.
Prada works with advisers to evaluate possible Versace bid. ( Bloomberg)
Prada is working with advisers to assess the potential acquisition of Versace, currently owned by Capri, and bring it back under Italian ownership.
The Milan-based luxury fashion house has begun a full review of Versace's financial and sales data but has not yet decided whether to submit a formal bid.
Historically, Prada has worked with Morgan Stanley and Skadden, Arps, Slate, Meagher & Flom, according to MergerLinks data.
APAC
Colgate-Palmolive, an American multinational consumer products company, agreed to acquire Prime100, a producer of pet food products. Financial terms were not disclosed.
Prime100 is advised by Houlihan Lokey and Gilbert + Tobin. Colgate-Palmolive is advised by Bank of America and Wachtell Lipton Rosen & Katz, according to press releases.
Mitsui, a general trading company, completed the acquisition of a 40% stake in Rhodes Ridge iron ore project from Rio Tinto, a global mining group, for $5.3bn.
Resonac explores options for JSR takeover. ( Bloomberg)
Resonac is exploring potential deal structures for acquiring JSR, a government-controlled chip materials company, as part of its goal to dominate Japan’s AI semiconductor materials market.
The move comes at a time when Resonac, traditionally known for graphite and other materials, has been shifting focus to semiconductor-related products.
Historically, Resonac has worked with Bank of America and TMI Associates, according to MergerLinks data.
Hexaware makes history with India’s largest IT services IPO. ( Press Release)
Hexaware made a significant return to the public markets with a record-breaking INR87.5bn ($1bn) IPO, marking the largest-ever listing by an Indian IT services firm.
“Listing on the public markets represents a significant step forward for Hexaware. This is an opportunity to deepen our relationships with stakeholders and reinforce our commitment to operating with transparency, accountability, and a focus on delivering meaningful solutions to our clients,” Ramakarthikeyan Srikrishna, Hexaware CEO.
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