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AMERICAS

Samsung-based HARMAN International to acquire consumer audio business from Masimo for $350m.

Samsung-based HARMAN International, an electronics company, to acquire consumer audio business from Masimo, a health technology and consumer electronics company, for $350m, according to press releases.

Masimo is advised by Centerview Partners, Morgan Stanley and Sullivan & Cromwell (led by Lauren S. Boehmke), according to press releases and MergerLinks data.

Strive Asset Management to merge with Asset Entities.

Strive Asset Management, an asset management firm, agreed to merge with Asset Entities, a provider of content delivery solutions, according to press releases. Financial terms were not disclosed.

Asset Entities is advised by Bevilacqua. Strive is advised by Davis Polk & Wardwell (led by Brian Wolfe and Evan Rosen), according to press releases and MergerLinks data.

Northwell Health completes the merger with Nuvance Health.

Northwell Health, a nonprofit integrated healthcare network, completed the merger with Nuvance Health, a not-for-profit health system, according to press releases. Financial terms were not disclosed.

Nuvance Health was advised by Kaufman Hall & Associates and Epstein Becker Green, according to press releases.

Hotel Equities to merge with Springboard Hospitality.

Hotel Equities, a hotel ownership, management, and development firm, agreed to merge with Springboard Hospitality, a third-party hotel management company, according to press releases. Financial terms were not disclosed.

Springboard is advised by The Point PR (led by Laura Notaro), according to press releases.

Lions Gate Entertainment completes the spin-off of Studio and STARZ businesses.

Lions Gate Entertainment, an entertainment company, completed the spin off of Studio and STARZ businesses, according to press releases. Financial terms were not disclosed.

Lions Gate was advised by Wachtell Lipton Rosen & Katz (led by Mark Stagliano), according to MergerLinks data.

Veolia to acquire the remaining 30% stake in Veolia Water Technologies & Solutions from CDPQ for $1.75bn.

Veolia, an environmental management services provider, agreed to acquire the remaining 30% stake in Veolia Water Technologies & Solutions from CDPQ, an institutional investor, for $1.75bn, according to press releases.

Loomis to acquire Burroughs for $110m.

Loomis, a cash handling company, agreed to acquire Burroughs, an independent service partner for the full lifecycle management of payment and transaction automation, for $110m, according to press releases.

ICONIQ led a $100m Series C round in Statsig.

ICONIQ, an investment management firm, led a $100m Series C round in Statsig, a platform for data-driven product development, with participation from Sequoia and Madrona, according to press releases.

SHINE Technologies to acquire the SPECT business from Lantheus.

SHINE Technologies, a nuclear fusion company with a platform of medical isotope products, agreed to acquire the SPECT business from Lantheus, a radiopharmaceutical-focused company, according to press releases. Financial terms were not disclosed.

Wellfit Technologies completes the acquisition of the Launch Loyalty division from Careington.

Wellfit Technologies, a healthcare technology platform, completed the acquisition of the Launch Loyalty division from Careington, a provider of discount programs for health, wellness and lifestyle services, according to press releases. Financial terms were not disclosed.

Oxford Properties to buy CPPIB stake in $1.1bn of offices. (Bloomberg)

Oxford Properties has agreed to acquire Canada Pension Plan Investment Board’s stake in a portfolio of seven office buildings, valuing the assets at CAD1.5bn ($1.1bn).

The deal will give Oxford, the real estate arm of the Ontario Municipal Employees Retirement System, full ownership of the portfolio by purchasing the remaining 50% it does not already hold.

Gene-editor Synthego files bankruptcy with plans to sell itself to lenders. (Bloomberg)

Synthego, a provider of gene-editing tools for drug developers and researchers, has filed for bankruptcy with plans to sell the company to its primary lender, an affiliate of private equity firm Perceptive Advisors.

The proposed deal would see Perceptive Credit Holdings III exchange up to $85m in debt for ownership of Synthego, unless a superior bid is submitted. The proposal was filed on May 5 in federal court in Wilmington, Delaware. Perceptive manages approximately $8bn, with a focus on health-care technology.

23andMe expects multiple bids for genetic data. (Bloomberg)

Multiple bidders are expected to submit offers for the DNA database and other assets of bankrupt genetic-testing company 23andMe, setting the stage for a competitive auction process.

Despite not securing a lead bidder with a binding offer, the company is moving ahead with the auction, citing strong interest from potential buyers, attorney Christopher Hopkins said during a court hearing on May 6, 2025.

KKR-backed Crescent Energy weighs asset sales to focus on Eagle Ford and Uinta basins. (Bloomberg)

Crescent Energy, a US oil and gas producer backed by KKR, is looking to streamline its drilling portfolio to concentrate on core assets in the Eagle Ford and Uinta basins.

The Houston-based company is working with financial advisers to explore the sale of holdings in regions such as the Denver-Julesburg basin in Colorado. Deliberations are ongoing and no final decisions have been made.

M&A deal signing hits 20 year-low after Trump's 'Liberation Day'. (Reuters)

Global mergers and acquisitions activity slowed sharply in April after US President Donald Trump launched a global trade war on April 2, prompting bankers and CEOs to pull back on dealmaking.

The number of M&A deals announced worldwide dropped to its lowest level in over two decades, falling below even the troughs seen during the Covid-19 pandemic and the 2008–2009 financial crisis, based on data compiled by Dealogic.

Brazil judge blocks lender BRB from signing purchase of Banco Master. (Reuters)

A Brazilian judge has blocked state-run bank BRB from signing the final contract to acquire assets from Banco Master, halting the deal for now.

The ruling, issued by Judge Carlos Fernando Fecchio dos Santos on May 6, upheld a request from prosecutors who argued that BRB must first obtain approval from shareholders and lawmakers before moving forward with the agreement.

Rotunda Capital Partners closes oversubscribed Fund IV at $735m. (Release Press)

Rotunda Capital Partners has announced the successful closing of Rotunda Capital Partners Fund IV, L.P., with total capital commitments of $735m.

The private equity firm, which focuses on industrial businesses and takes an operationally driven approach, said the fund will support its continued strategy of investing in lower middle-market companies across North America.

The Pearl Fund launches $500m Bitcoin investment fund. (Press Release)

The Pearl Fund, known for launching the nation’s first Opportunity Zone Business fund, has announced the creation of the Pearl Bitcoin Fund, a $500m investment vehicle designed to eliminate capital gains tax on Bitcoin investments.

The new fund builds on the firm’s position as a leader in OZB investing, offering investors a tax-advantaged structure for exposure to digital assets.

Performance Equity Management holds final close of fifth direct co-investment fund. (Press Release)

Performance Equity Management, a Sagard partner, has announced the final close of its fifth co-investment fund, Performance Direct Investments V, raising $383m—surpassing its $300m target.

The fund attracted a diverse group of investors, including public and corporate pension plans, university endowments, private foundations, insurance companies, family offices, and ultra-high-net-worth individuals.

EMEA

Apollo to acquire Hav Energy from HitecVision.

Apollo, an asset management company, agreed to acquire Hav Energy, an energy infrastructure company that aims to become the preferred partner for European energy and utility companies, from HitecVision, an investor in the European energy industry, according to press releases. Financial terms were not disclosed.

Apollo is advised by Stephenson Harwood, Thommessen and Vinson & Elkins (led by Francisco Morales Barrón). HitecVision is advised by DNB Bank and BAHR, according to press releases and MergerLinks data.

TA Associates to acquire FD Technologies for $722m.

TA Associates, a private equity company, offered to acquire FD Technologies, provider of products and consulting services to some of the world's largest finance, technology and energy institutions, for $722m, according to press releases.

FD Technologies to acquire Investec (led by Carlton Nelson), JP Morgan (led by James A. Kelly), Rothschild & Co (led by Anton Black) and A&O Shearman, according to press releases.

Insight Partners completes the acquisition of a majority stake in OptoScale.

Insight Partners, a private equity company, completed the acquisition of a majority stake in OptoScale, a measuring instruments supplier, according to press releases. Financial terms were not disclosed.

OptoScale was advised by ABG Sundal Collier (led by Anders Aune Berntsen). Insight Partners was advised by Willkie Farr & Gallagher (led by Morgan Elwyn), according to press releases.

Uber Technologies to acquire an 85% stake in Trendyol for $700m.

Uber Technologies, a transportation company that provides ride-hailing services, courier services, food delivery, and freight transport, agreed to acquire an 85% stake in Trendyol, an online meal and grocery delivery business serving Turkey, for $700m, according to press releases.

Uber is advised by Morgan Stanley, according to MergerLinks data.

GTT to acquire Danelec from Verdane for €194m.

GTT, a technology and engineering group, agreed to acquire Danelec, a provider of advanced digital solutions for maritime data collection and analysis, from Verdane, an investment fund, for €194m ($220m), according to press releases.

GTT is advised by Rothschild & Co, according to MergerLinks data.

Novanta completes the acquisition of Keonn.

Novanta, a global supplier of core technology solutions, completed the acquisition of Keonn, an electronics manufacturer, according to press releases. Financial terms were not disclosed.

Keonn was advised by AZ Capital, according to press releases.

Parts Holding Europe completes the acquisition of a majority stake in Top Part.

Parts Holding Europe, an independent distribution of spare parts for light and heavy vehicles in Western Europe, completed the acquisition of a majority stake in Top Part, a wholesale supplier of vehicle refinishing and coatings serving the Irish accident repair industry, according to press releases. Financial terms were not disclosed.

Top Part was advised by DC Advisory (led by Raymond Donegan), according to press releases.

CVC-backed Mehiläinen completes the acquisition of home services business from 9Lives Group.

CVC-backed Mehiläinen, a digital healthcare company, completed the acquisition of home services business from 9Lives Group, an expert in mobile nursing services, according to press releases. Financial terms were not disclosed.

9Lives Group was advised by Avance (led by Ilkka Perheentupa), according to press releases.

Riverwood Capital completes the acquisition of Quicklizard for $52m.

Riverwood Capital, an investment firm, completed the acquisition of Quicklizard, an ML & AI-powered dynamic pricing platform, for $52m, according to press releases.

Tank maker KNDS hits snag in buying Triton's Renk stake. (Bloomberg)

A plan by Franco-German defense firm KNDS to become the largest shareholder in tank parts supplier Renk Group has encountered a setback due to disagreements over regulatory approvals.

On February 11, KNDS announced it had exercised an option to increase its stake in Renk from 6.7% to 25% through a share purchase from Triton Partners. The deal is contingent on merger control and other regulatory clearances, which remain unresolved.

Intesa CEO says no value in joining Italian M&A 'big mess'. (Reuters)

Intesa Sanpaolo CEO Carlo Messina said the bank should steer clear of the merger and acquisition wave currently sweeping through Italy’s banking sector and instead concentrate on delivering value to shareholders.

While a series of takeover bids has roiled the country’s financial landscape, Intesa has remained on the sidelines following its 2020 acquisition of UBI Banca. That deal secured the bank a dominant market share of around 20%, placing it under antitrust constraints that limit further expansion through M&A.

Saudi Arabia's Flynas considers seeking about $1bn in IPO. (Bloomberg)

Saudi Arabia’s Flynas, backed by billionaire Prince Alwaleed bin Talal, is considering raising around $1bn through its initial public offering.

The low-cost carrier recently announced plans to sell 51.26m shares—equivalent to 30% of its share capital—in an IPO on the Riyadh exchange. The offering will include a mix of newly issued shares and existing stock held by Kingdom Holding and National Flight Services.

APAC

ShawKwei & Partners-backed Liberty Energy Solutions to acquire PEC for $160m.

ShawKwei & Partners-backed Liberty Energy Solutions, an energy engineering solutions and proprietary products provider, agreed to acquire PEC, a provider of maintenance and integrated EPC services, for $160m, according to press releases.

Toyoda taps bankers for $42bn buyout as soon as November. (Bloomberg)

Toyota Motor Chairman Akio Toyoda’s $42bn plan to acquire Toyota Industries is moving forward, with both sides appointing financial advisers and preparing for a potential tender offer as early as November.

A special purpose vehicle set up by Toyoda for the buyout is being advised by Nomura Holdings, while Toyota Industries has brought on SMBC Nikko Securities to guide its side of the process. Deliberations are ongoing and the timeline could still shift.

Geely bids to take Zeekr private at $6.4bn valuation. (Bloomberg)

Billionaire Li Shufu is accelerating efforts to streamline his business empire, with Geely proposing to take premium electric vehicle brand Zeekr private.

Geely has offered to acquire all outstanding shares of US-listed Zeekr that it does not already own, at $2.56 per share, or $25.66 per American Depositary Share—representing a premium of roughly 14% over the last closing price. The offer would value Zeekr at approximately $6.4bn.

Bain Capital aims to position Japanese aviation firm Jamco for more M&A. (WSJ)

Bain Capital is positioning Japanese aircraft parts maker Jamco to shift from being a takeover target to a consolidator in the industry, equipping it with the financial backing to pursue acquisitions of its own.

Masashi Suekane, a Tokyo-based partner at Bain Capital, stated that the firm sees Jamco as a potential leader in industry consolidation, with the ability to drive mergers from Japan rather than be absorbed by competitors.

Grab looks to strike a deal to acquire Indonesia's GoTo in Q2. (Reuters)

Grab, the US-listed ride-hailing and food delivery company, is aiming to acquire smaller Indonesian rival GoTo in a deal targeted for the second quarter, according to two sources familiar with the matter.

The Singapore-based firm has engaged advisers to work on the proposed transaction. The deal remains subject to key conditions, including financing, which Grab is currently discussing with banks.

Vinpearl to debut next week as one of Vietnam's largest stocks. (Bloomberg)

Shares of Vinpearl, the hospitality unit of Vietnam's largest private business empire, will begin trading next week as one of the country's biggest listed companies. The company, a unit of Vingroup, will list on May 13 on the Ho Chi Minh City Stock Exchange.

Based on its initial price of $2.75 a share, Vinpearl will boast a market value of about $4.9bn, bigger than bluechips such as Vietnam Dairy Products and Masan Group.

CATL's Hong Kong listing draws interest from Qatar Sovereign Fund, KIA, Sinopec and Hillhouse. (Bloomberg)

Qatar Investment Authority and Sinopec are considering investments in CATL's upcoming Hong Kong listing, which is expected to be one of the city’s largest share sales in recent years.

The two firms may each seek to purchase several hundred million dollars' worth of stock in the offering. Alternative asset manager Hillhouse Investment is also weighing participation in the deal. Deliberations are ongoing, and final commitments have not yet been made.

Xpeng is said to consider flying car IPO in Hong Kong or US. (Bloomberg)

Xpeng is weighing an initial public offering for its flying car subsidiary, Xpeng Aeroht, as the company explores options to unlock value from the unit.

The Chinese electric vehicle maker has invited banks to pitch for roles in a potential listing, which could take place in either Hong Kong or the United States. Deliberations are ongoing and no final decision has been made.

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