Vistra completes the acquisition of seven modern natural gas generation facilities from Lotus Infrastructure Partners for $1.9bn.

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AMERICAS

Old Republic to acquire Everett Cash Mutual.

Old Republic, a Chicago-based specialty insurer, agreed to acquire Everett Cash Mutual, an insurer specializing in small farmowners and select commercial agricultural operations, according to press releases. Financial terms were not disclosed.

Old Republic is advised by Griffin Financial Group and Troutman Pepper Locke. Everett Cash Mutual is advised by Philo Smith Capital, Mette Evans & Woodside and Feldman Financial Advisors, according to press releases.

Georgia-Pacific and TJC complete the acquisition of Anchor Packaging.

Georgia-Pacific, an American pulp and paper company, and TJC, a private equity firm, completed the acquisition of Anchor Packaging, a manufacturer of rigid food containers and cling film for the food service, retail and processor channels, according to press releases. Financial terms were not disclosed.

Georgia-Pacific was advised by Nomura and Jones Day (led by Darcy White and Bryan E. Davis). Anchor Packaging was advised by Goldman Sachs and RBC Capital Markets, according to press releases.

Julia Koch completes the investment in The New York Football Giants.

Julia Koch completed the investment in The New York Football Giants, a professional American football team that competes in the National Football League, according to press releases. Financial terms were not disclosed.

The New York Football Giants is advised by Moelis & Co and Sullivan & Cromwell (led by Joseph C. Shenker, Lauren S. Boehmke and Ivan D. Deutsch). Julia Koch was advised by CAA Evolution and Paul Weiss Rifkind Wharton & Garrison (led by Brian C. Lavin, Sean Fitzpatrick and Kenneth Schneider), according to press releases and MergerLinks data.

Veriforce completes the acquisition of Highwire.

Veriforce, a global provider of supply chain risk management solutions, completed the acquisition of Highwire, a technology company that developed a platform for contractor risk management, according to press releases. Financial terms were not disclosed.

Veriforce was advised by Kirkland & Ellis. Highwire was advised by Harris Williams & Co and Choate Hall & Stewart, according to press releases.

PE-backed CSI completes the acquisition of Apiture.

PE-backed CSI, a provider of end-to-end financial software and technology, completed the acquisition of Apiture, a provider of digital banking solutions to US financial institutions, according to press releases. Financial terms were not disclosed.

CSI was advised by Red Fan Communications (led by Heidi DeHart), according to press releases.

Hg Capital-backed AuditBoard to acquire FairNow.

Hg Capital-backed AuditBoard, an AI-powered platform for audit, risk and compliance management, agreed to acquire FairNow, an all-in-one artificial intelligence governance platform, according to press releases. Financial terms were not disclosed.

AuditBoard was advised by Morrison Foerster, according to press releases.

Blue Point-backed National Safety Apparel completes the acquisition of Gemtor.

Blue Point-backed National Safety Apparel, a provider of flame-resistant clothing and personal protective equipment, completed the acquisition of Gemtor, a US-based manufacturer of high-performance fall protection, confined space retrieval and rescue equipment, according to press releases. Financial terms were not disclosed.

Blue Point was advised by MiddleM Creative (led by Jan Morris), according to press releases.

Rise Growth Partners completes the acquisition of a minority stake in Krilogy.

Rise Growth Partners, a Texas-based growth equity investment firm, completed the acquisition of a minority stake in Krilogy, a St. Louis-based independent wealth management and financial planning firm, according to press releases. Financial terms were not disclosed.

Rise Growth Partners was advised by StreetCred PR (led by Hannah Dixon and Jimmy Moock), according to press releases.

Nexans to acquire Electro Cables.

Nexans, a global company specializing in the design, manufacture, and service of cable systems and solutions, agreed to acquire Electro Cables, a Canadian manufacturer specializing in low-voltage cables, according to press releases. Financial terms were not disclosed.

Nexans is advised by Havas (led by Mael Evin), according to press releases.

Rothschild Wealth Partners completes the acquisition of Siligmueller & Norvid Wealth Advisors.

Rothschild Wealth Partners, a Chicago-based registered investment advisor and broker-dealer, completed the acquisition of Siligmueller & Norvid Wealth Advisors, an independent advisory firm, according to press releases. Financial terms were not disclosed.

Rothschild Wealth Partners was advised by Beyond AUM (led by Rachel Walters) according to press releases.

Cologix completes the acquisition of DataHive.

Cologix, a North American provider of carrier and cloud-neutral interconnection and hyperscale edge data centers, offering physical space, reliable power, and dense network connectivity for businesses, completed the acquisition of DataHive, a company that offers a range of IT services including colocation, private cloud, global internet connectivity, according to press releases. Financial terms were not disclosed.

Air France-KLM completes acquisition of a 2.3% stake in WestJet. (Press Release)

Air France-KLM has finalized the purchase of a 2.3% stake in Canadian carrier WestJet, following the initial announcement made on May 9, 2025. The deal strengthens the European airline group’s partnership network across North America.

The stake was acquired from Delta Air Lines, which had previously taken a 15% holding in WestJet as part of a broader transaction that also saw Korean Air purchase a 10% interest. That larger deal officially closed on October 22, 2025, paving the way for Air France-KLM’s investment.

David Ellison's Paramount seen as front-runner for Warner Bros Discovery deal. (Reuters)

Warner Bros Discovery rejected a nearly $60bn takeover offer from Paramount Skydance valued at about $24 per share. The company will explore strategic options, including a potential sale or separation of its Warner Bros and Discovery Global units.

A buyer would assume roughly $35bn in debt. WBD shares rose 11% on the news and have gained 46% since early September. Other potential bidders include Comcast, Netflix, Amazon, and Apple. Paramount Skydance, led by David Ellison, is seen as the frontrunner due to strong financing and regulatory advantages.

Goldman Sachs names Colin Convey to co-run global sponsor M&A. (Bloomberg)

Goldman Sachs Group is elevating Colin Convey to help lead its mergers and acquisitions business focused on financial sponsors amid a resurgent market for private equity dealmaking.

Convey, a Goldman Sachs partner and member of the bank’s global industrials coverage team, is taking on additional responsibilities as global co-head of sponsor M&A.

EMEA

Airbus, Leonardo and Thales to form a joint venture.

Airbus, a major European aerospace corporation, Leonardo, a major Italian multinational company specializing in aerospace, defense and security, and Thales, a French multinational specializing in aerospace, defense, space, and cybersecurity technologies, agreed to form a joint venture, to unite and enhance capabilities by combining the three respective activities in satellite and space systems manufacturing and space services. Airbus will own 35% of the new business, while Leonardo and Thales will own 32.5% each, according to press releases.

Leonardo is advised by Deutsche Bank, according to MergerLInks data.

DWS Group-backed Stellanor Datacenters Group to acquire Redcentric Data Centres from Redcentric for £127m.

DWS Group-backed Stellanor Datacenters Group, a flexible data centers built for enterprises, IT cloud service providers, institutions, and government organisations, agreed to acquire Redcentric Data Centres, a data center business, from Redcentric, a managed service provider offering a range of IT services, including cloud and hosting, networks and connectivity, collaboration, and security, for £127m ($169m), according to press releases.

Redcentric is advised by Cavendish Corporate Finance, Lazard (led by Vasco Litchfield) and Burson Buchanan (led by Henry Harrison-Topham), according to press releases.

Marex Group to acquire Valcourt.

Marex Group, a diversified global financial services platform providing essential liquidity, market access, and infrastructure services, agreed to acquire Valcourt, a provider of fixed income investment solutions and services, according to press releases. Financial terms were not disclosed.

Marex Group was advised by FTI Consulting and Homburger, according to press releases.

LegalOn completes the acquisition of Fides Technology.

LegalOn, a company focused on legal AI for contracting, completed the acquisition of Fides Technology, a company that offers a suite of entity management, governance workflow, and audit trail and data security solutions. Financial terms were not disclosed.

LSEG shares soar on trade services stake sale, stock buyback. (Reuters)

London Stock Exchange Group will sell a 20% stake in Post Trade Solutions to 11 banks for £170m ($226m) and start a £1bn ($1.3bn) share buyback. The banks’ share of income from the joint SwapClear unit will drop to 15% this year and 10% from 2026.

LSEG reported third-quarter income growth of 6.4%, beating forecasts of 5.2%, and raised its margin outlook. Shares rose 8% after the announcement but remain down 20% this year.

Apollo explores sale of Hispanic food retailer Heritage Grocers Group. (Reuters)

Apollo Global Management is exploring the sale of its Hispanic grocery chain Heritage Grocers Group in a deal that could value the company at about $1.5bn. Heritage generates roughly $150m in EBITDA and more than $2bn in annual revenue. Apollo is working with UBS as financial adviser on the process.

Heritage operates about 115 stores under the El Rancho Supermercado, Cardenas Markets and Tony’s Fresh Market banners across Illinois, Texas, Kansas, California, Nevada and Arizona. Apollo acquired Tony’s in 2022 and combined it with Cardenas, later adding El Rancho in 2023.

UK digital bank Monzo is said to weigh fresh share sale. (Bloomberg)

Monzo Bank is considering a new private share sale as the British fintech looks to build on its recent growth momentum. The potential deal would give existing and new investors a chance to increase their holdings in one of the UK’s most valuable digital lenders.

The company is working with Morgan Stanley to assess investor appetite and outline possible terms for the transaction. Discussions remain at an early stage, and Monzo has yet to determine the structure or valuation for the potential offering.

ITV shares slump following Liberty Global news. (FT)

Liberty Global has sold about half of its 10% stake in ITV, reducing its holding to around 5%. The sale involved roughly 191m shares worth about £140m ($186m) at ITV’s latest closing price of £0.69 ($0.91), representing an 8% drop in the broadcaster’s share price.

BNP Paribas and Deutsche Bank acted as joint bookrunners on the transaction. Liberty, which first acquired its ITV stake in 2015, said the move is part of its plan to actively manage its Liberty Growth portfolio by disposing of select assets while focusing on larger investments. ITV currently has a market capitalization of about £2.58bn ($3.4bn).

BC Partners’ new fund raises €1.8bn as first close nears. (Bloomberg)

BC Partners has secured investor commitments of about €1.8bn ($2.1bn) for its new flagship fund as it nears a first close.

The fundraising could reach €2bn ($2.3bn) at the first close at the end of this year. Deliberations are ongoing, while the size and timing of the fundraising could change depending on market conditions.

APAC

Takaichi seeks Japan group to ward off risky foreign investors. (Bloomberg)

New Japanese Prime Minister Sanae Takaichi will push for the establishment of an official group to monitor whether investments and takeover bids from abroad pose security risks.

It will be a Japanese version of the Committee on Foreign Investment in the US, or CFIUS, an inter-agency group led by the Treasury Secretary that reviews whether investments from overseas may carry risks such as revealing military secrets or technology leakage.

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