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AMERICAS

KKR to invest in Crowe.

KKR, an investment firm, agreed to invest in Crowe, a public accounting and consulting firm, according to press releases. Financial terms are not disclosed.

Crowe is advised by Harris Williams, Hunton Andrews Kurth, Mayer Brown, and Kekst CNC. KKR is advised by William Blair, and Kirkland & Ellis, according to press releases.

Western Midstream completes the acquisition of Brazos Delaware II from Brazos Midstream for $1.6bn.

Western Midstream, a Delaware master limited partnership formed to own, develop, and operate midstream energy assets, completed the acquisition of Brazos Delaware II, a midstream energy platform owning and operating natural gas gathering, from Brazos Midstream, a full-service midstream company, for $1.6bn, according to press releases.

Western Midstream was advised by Greenhill & Co, Morgan Stanley and Troutman Pepper Locke (led by Jon W. Daly). Brazos Midstream was advised by Jefferies & Company (led by Peter Bowden) and Vinson & Elkins, according to MergerLinks data and press releases.

Otsuka America completes the acquisition of Transcend Therapeutics for $1.225bn.

Otsuka America, a US holding company and subsidiary of the Japan-based Otsuka Group, completed the acquisition of Transcend Therapeutics, a clinical-stage biopharmaceutical company, for $1.225bn, according to press releases.

Transcend was advised by Centerview Partners. Otsuka America was advised by Mitsubishi UFJ Morgan Stanley Securities, Morgan Stanley, and Skadden Arps Slate Meagher & Flom (led by Mitsuhiro Kamiya), according to press releases and MergerLinks data.

Adyen to acquire Orb for $335m.

Adyen, a financial technology platform, agreed to acquire Orb, an enterprise billing platform, for $335m, according to press releases.

Orb is advised by AXOM Partners and Goodwin Procter. Adyen is advised by KPMG and Wilson Sonsini Goodrich & Rosati, according to MergerLinks data and press releases.

Mitsui Chemicals to acquire Ultradent Products.

Mitsui Chemicals, a Japanese multinational chemical company, agreed to acquire Ultradent Products, a developer of high-tech dental materials, devices, and instruments, according to press releases. Financial terms were not disclosed.

Ultradent is advised by Jefferies & Company and Foley & Lardner. Mitsui Chemicals is advised by KPMG and Baker McKenzie, according to MergerLinks data and press releases.

BIG3 to go public via a SPAC merger with Graf Global in a $290m deal.

BIG3, a professional 3-on-3 basketball league, agreed to go public via a SPAC merger with Graf Global, a special purpose acquisition company, in a $290m deal, according to press releases.

BIG3 is advised by MC Strategic Advisors, Ellenoff Grossman & Schole, and DKC Public Relations. Graf Global is advised by White & Case, according to press releases.

SL Bio goes public via a SPAC merger with Horizon Space Acquisition II in a $5.568bn deal.

SL Bio, a biomedical company specializing in developing cellular and gene therapies, went public via a SPAC merger with Horizon Space Acquisition II, a special purpose acquisition company, in a $5.568bn deal, according to press releases.

SL Bio was advised by VCL Law, and Ogier. Horizon Space was advised by Robinson & Cole, and Maples Group, according to press releases.

Sagility completes the acquisition of CareSeed.

Sagility, a tech-enabled healthcare operations and transformation company, completed the acquisition of CareSeed, a healthcare analytics company, according to press releases. Financial terms were not disclosed.

CareSeed was advised by Houlihan Lokey, AllRise Legal Counsel, and Swanson Bernard, according to press releases.

Medtronic completes the acquisition of Scientia Vascular for $550m.

Medtronic, a developer and manufacturer of healthcare technologies and therapies, completed the acquisition of Scientia Vascular, a developer of medical access products for physicians treating complex neurovascular conditions, for $550m, according to press releases.

Scientia Vascular was advised by Piper Sandler and Latham & Watkins (led by Johan Hans Brigham, Julie Scallen and Stefanie Vincent), according to press releases and MergerLinks data.

Merck Animal Health to acquire TARGAN.

Merck Animal Health, a global animal health business, agreed to acquire TARGAN, an innovative animal AgTech systems company, according to press releases. Financial terms were not disclosed.

TARGAN is advised by Davis Polk & Wardwell (led by Michael Gilson), according to MergerLinks data.

Vornado Realty Trust completed the acquisition of a 49% stake in Park Avenue Plaza from Closer Properties at a valuation of $1.1bn.

Vornado Realty Trust, an American real estate investment trust, completed the acquisition of a 49% stake in Park Avenue Plaza from Closer Properties, a New York City-based owner, operator and developer of Class-A properties, at a valuation of $1.1bn, according to press releases.

Blackstone in discussions to acquire H&R REIT. (Bloomberg)

Blackstone has entered early discussions about a potential deal involving H&R Real Estate Investment Trust, a Canadian landlord with a portfolio that includes apartment buildings and other properties.

H&R said that it is in “preliminary, non‑exclusive discussions with Blackstone regarding a potential sale of certain assets,” confirming an earlier report that sent its shares up more than 8%.

Roku reportedly in talks over a potential sale and media partnership. (Bloomberg)

Roku, the streaming platform, is in talks about a potential sale.

The San Jose–based company has held discussions with at least one US media group about a possible combination.

Holt close to $12bn acquisition of Ensemble Health. (Bloomberg)

Private‑equity executive Matt Holt’s Thoreau Group is in advanced talks to acquire Ensemble Health Partners in a deal that would value the company at about $12bn.

A signing could come soon. Thoreau, backed by Apollo Global Management, is expected to become Ensemble’s controlling shareholder.

Honeywell plans $2–$4bn acquisitions focused on industrial automation. (Reuters)

Honeywell said that it is targeting deals valued between $2bn and $4bn and sees opportunities for acquisitions in its industrial automation business.

“There is a ton of opportunity for M&A,” Peter Lau, Honeywell’s industrial automation unit President.

BlackRock commits $5bn+ to SpaceX IPO. (WSJ)

SpaceX is gearing up for what would be the largest IPO in history, planning to sell $75bn worth of shares in a single offering — and investor demand is already surging.

BlackRock has submitted an order for at least $5bn of shares, with other major asset managers also placing unusually large orders. While big institutions often take sizeable positions in IPOs, the scale of these commitments is multiple times larger than what’s typical in traditional offerings.

EMEA

DYWIDAG to acquire Interspan.

DYWIDAG, a provider of geotechnical products, post-tensioning services and stay-cable solution services, agreed to acquire Interspan, a provider of post-tensioning and concrete repair & strengthening services, according to press releases. Financial terms are not disclosed.

Interspan is advised by Greenstone Partners, Mont Lawyers, and Magpie Advisory. DYWIDAG is advised by A&O Shearman, and EY Parthenon, according to press releases.

Vertiv completes the acquisition of ThermoKey from IGI Private Equity.

Vertiv, a company that specialises in delivering critical infrastructure technologies and services, completed the acquisition of ThermoKey, a provider of heat rejection and heat-exchange technologies, from IGI Private Equity, a private equity firm, according to press releases. Financial terms were not disclosed.

Vertiv was advised by Baker McKenzie (led by Paola Colarossi) and Ruder Finn. IGI Private Equity was advised by Chiomenti (led by Luca Liistro and Luigi Arnaldo Cremona), according to press releases and MergerLinks data.

Balaena completes the acquisition of APCL Group from The Peel Group.

Balaena, a maritime engineering and shipbuilding group, completed the acquisition of APCL Group, a marine engineering company, from The Peel Group, an infrastructure, transport and real estate investor, according to press releases. Financial terms were not disclosed.

Debt financing was provided by Barings (led by Tom Kilpatrick). The Peel Group was advised by Rothschild & Co, according to MergerLinks data and press releases.

HD Hyundai Heavy Industries to acquire NEM Energy Group from Mutares.

HD Hyundai Heavy Industries, a shipbuilding company and a global powerhouse in heavy equipment, offshore engineering, and marine engines, agreed to acquire NEM Energy Group, a heat transfer technology company, from Mutares, a global OEM supplier of heat transfer technology, according to press releases. Financial terms were not disclosed.

Mutares is advised by DC Advisory (led by Paul de Hek), according to MergerLinks data and press releases.

Belfius stake attracts interest from Rabobank, ING and Crédit Agricole. (Reuters)

Rabobank, ING and Crédit Agricole have expressed interest in acquiring a stake in Belgium’s state‑owned lender Belfius.

The Belgian government is preparing to sell around 20% of Belfius via a private placement. Finance Minister Jan Jambon told parliament earlier in the week that markets currently value the bank at approximately €10bn ($11.6bn), implying a potential stake sale worth about €2bn ($2.3bn).

Shell to sell wind assets in $1bn move away from renewables. (Bloomberg)

Shell is moving toward a sale of its offshore wind assets as it pivots further toward higher‑margin fossil fuel operations. The company has hired advisers from Rothschild & Co. and PJT Partners to run the process, which sources say could exceed $1bn.

The sale effort may begin toward the end of this year, with a transaction expected in 2027.

Hugo Boss says it received an unsolicited takeover offer from Frasers Group. (Press Release)

Hugo Boss notes that Frasers Group has published its intention to launch a voluntary public takeover offer to the company’s shareholders to acquire all outstanding shares. The offer was not coordinated with the company.

The company also notes that the indicated offer price of €38 ($44) per share represents a 4% premium to its last closing price of €36.46 ($42.2) on June 10, 2026, as well as to the three‑month VWAP of €36.41 ($42.1) on the same date.

Ferretti considers bid for competitor Italian Sea Group. (Bloomberg)

Ferretti, the owner of the Riva and Wally yacht brands, is evaluating a potential bid for all or part of The Italian Sea Group. The move would bolster Ferretti’s position in the Italian luxury‑yacht market.

The company is working with advisers as it considers an approach, adding that Ferretti is open to acquiring the entire business or selected assets, including the La Spezia shipyard.

L Catterton said to explore stake purchase in Hyrox. (Bloomberg)

L Catterton, the LVMH‑backed private equity firm, is in exclusive talks to buy a stake in extreme fitness brand Hyrox.

The firm has been in discussions for some time with the brand’s owner, Swiss‑based Infront Sports & Media.

Uber considers selling Delivery Hero units to ease takeover path. (Bloomberg)

Uber Technologies is approaching potential buyers for parts of Delivery Hero’s regional operations as it works to structure a takeover of the German food‑delivery group that could clear regulatory hurdles.

The US company has been sounding out firms that might acquire Delivery Hero assets in overlapping markets across Latin America, Asia and Europe.

Elliott considers takeover of The Very Group. (Reuters)

Elliott Advisors has entered the race for a potential takeover of The Very Group, joining other bidders in a process that could value the UK online retailer at about £2bn ($2.67bn)

Equatorial set to receive a 30% stake in Copasa during privatization. (Bloomberg)

Equatorial Energia is set to acquire only a 30% stake in Copasa as part of the Brazilian water and sewage utility’s privatization.

Danske CEO signals readiness for first post‑scandal acquisition. (Bloomberg)

Danske Bank Chief Executive Carsten Egeriis says the lender is ready to start looking at acquisitions again, potentially ending nearly a decade without major deals for Denmark’s biggest bank.

Egeriis said it would be “very interesting to look at inorganic growth” across the Nordics, pointing in particular to Sweden. He noted that Danske’s Swedish retail operation is “relatively small,” making it a logical area where a deal could add scale.

APAC

Adani Energy Solutions to acquire IntelliSmart Infrastructure for $305m.

Adani Energy Solutions, a transmission company and an energy solutions provider, agreed to acquire IntelliSmart Infrastructure, a smart metering JV between National Investment and Infrastructure Fund and Energy Efficiency Services, for $305m, according to press releases.

Adani Energy Solutions is advised by Cyril Amarchand Mangaldas (led by Subhalakshmi Naskar). NIIF is advised by Deloitte Touche Tohmatsu India and Talwar Thakore & Associates (TT&A) (led by Gautam Saha). Energy Efficiency Services is advised by JSA Advocates & Solicitors (led by Vishnu Sudarsan), according to MergerLinks data and press releases.

Warburg Pincus to acquire J.S.B. for $1.2bn.

Warburg Pincus, a private equity firm, offered to acquire J.S.B., an integrated student housing and services platform, for $1.2bn, according to press releases.

J.S.B. is advised by Mitsubishi UFJ Morgan Stanley Securities, according to MergerLinks data.

Chubu Electric Power to invest $142m in Continuum Green Energy.

Chubu Electric Power, a Japanese electric utility, agreed to invest $142m in Continuum Green Energy, a renewable energy producer, according to press releases.

Continuum is advised by JSA Advocates & Solicitors (led by Rashi Saraf), according to MergerLinks data.

EQT explores sale of stake in Singapore healthcare group for about $600m. (WSJ)

Swedish private‑equity firm EQT is preparing to sell its minority stake in Singapore‑based healthcare provider HMI Medical for about $600m, as it looks to take advantage of a surge in deal activity driven by rising demand for medical services across Asia.

The sale process is still at an early stage, and there’s no guarantee a transaction will be completed.

Exxon weighs bid for Woodside. (Bloomberg)

Exxon Mobil is evaluating potential takeover opportunities — including Australia’s Woodside Energy — as it considers ways to expand its LNG portfolio and strengthen its position in Asian markets.

The discussions remain preliminary and internal. Woodside is one of several companies Exxon has been reviewing as part of its strategic assessment.

Alibaba offers $1.5bn for Chinese grocer in push against Meituan. (Bloomberg)

Alibaba Group Holding has put forward a $1.5bn offer to acquire Chinese grocery‑delivery platform Pupu, kicking off a bidding contest as it pushes to regain ground from rival Meituan.

The proposed price is more than double an earlier $600m bid from Sun Art Retail. Sun Art — once affiliated with Alibaba and now backed by private equity firm DCP Capital — had submitted its offer before Alibaba entered the fray.

Wang Yusuo’s $11.6bn bid for ENN Energy falls through on regulatory holdups. (Press Release)

Chinese billionaire Wang Yusuo’s plan to take full control of ENN Energy through ENN Natural Gas collapsed, ending a proposed deal that valued the Hong Kong‑listed company at $11.6bn.

The offer lapsed after failing to meet key preconditions — including in‑principle approval from the Hong Kong Stock Exchange and clearances from Chinese regulators — nearly a year after the application process began.

EngineAI reportedly files for Hong Kong IPO. (Bloomberg)

Chinese robotics startup EngineAI has confidentially filed for a Hong Kong IPO, becoming the latest company in the sector to seek fresh capital.

The Shenzhen‑based firm is working with China International Capital and Citic Securities on the potential listing.

Dreame Tech reportedly weighing a Hong Kong IPO. (Bloomberg)

Dreame Technology, a Chinese producer of robotic vacuums and other smart‑home devices, is weighing a Hong Kong IPO as early as next year.

The company is working with advisers and could raise several hundred million dollars in a potential listing, the deliberations are ongoing and details — including size and timing — may still change.

MetaX looks to list in Hong Kong amid chip‑sector surge. (Bloomberg)

MetaX Integrated Circuits Shanghai plans to pursue a Hong Kong listing as it looks to capitalize on strong investor demand for chip stocks following last year’s blockbuster mainland IPO.

The company said in a Shanghai Stock Exchange filing that a Hong Kong share sale would support its growth and global expansion strategy. The plan still requires shareholder and regulatory approvals, and discussions with advisers continue as key terms — including size and timing — are yet to be finalized.

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