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Top Highlights
Waystar, a provider of healthcare payment software, completed the acquisition of Iodine Software, an AI-powered clinical intelligence, from Advent, a private equity firm, for $1.25bn, according to press releases.
Zebra Technologies, an American mobile computing company specializing in digitizing and automating frontline workflows, completed the acquisition of Elo, a supplier of touchscreen solutions, for $1.3bn, according to press releases.
Elo was advised by Moelis & Co and Gibson Dunn & Crutcher (led by George Stamas). Zebra Technologies was advised by Morgan Stanley, Kirkland & Ellis (led by Alix Simnock and Laura Sullivan) and Joele Frank (led by Andrea Rose). Financial advisor was advised by Alston & Bird (led by Stuart Rogers), according to press releases and MergerLinks data.
Acuity, a global provider of bespoke research, data management, analytics and AI solutions to the financial services sector, completed the acquisition of Ascent, a European provider of AI-powered digital transformation services, according to press releases. Financial terms were not disclosed.
Acuity was advised by DC Advisory. Ascent was advised by Canaccord Genuity. Artisan Acquisition was advised by Ernst & Young, according to press releases and MergerLinks data.
Deal Round up
AMERICAS
BlackRock nears $38bn AES takeover. ( Reuters)
Berkshire nears $10bn Occidental petrochem deal. ( WSJ)
Neptune Insurance secures $368m through US IPO. ( Reuters)
Rick Perry’s Energy REIT Fermi secures $682.5m in IPO. ( Bloomberg)
EMEA
APAC
MUFG in talks to buy $2.6bn stake in Shriram Finance. ( Reuters)
LG Chem plans $1.4bn LG Energy share sale. ( Reuters)
India set for record IPO month with $5bn in deals. ( Bloomberg)
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AMERICAS
FuboTV, a sports-focused live TV streaming platform, announced that its shareholders have approved its planned transaction with The Walt Disney Company and its subsidiaries to merge Fubo’s business with Hulu + Live TV.
The merger, approved at Fubo’s special shareholder meeting today, is still subject to regulatory approvals and other customary closing conditions. Fubo will file the results of the meeting in a Form 8-K with the Securities and Exchange Commission.
Standard Dental, a company specializing in unified dental software and services, completed the acquisition of iCoreConnect, a provider of cloud-based software and technology solutions for dental practices, according to press releases. Financial terms were not disclosed.
Standard Dental was advised by ICR Inc (led by Lee Pacchia). iCoreConnect was advised by Keel Advisory Partners, Akerman, Orrick Herrington & Sutcliffe and Paul Hastings, according to press releases.
Clinigen, a pharmaceutical services company, agreed to acquire SSI Strategy, a company that operates as a life sciences consultancy, according to press releases. Financial terms were not disclosed.
SSI Strategy is advised by Guggenheim Partners, Harris Williams & Co and Davis Polk & Wardwell (led by Thomas Malone). Clinigen is advised by BDO, Greenhill & Co, Squire Patton Boggs and Fight or Flight , according to press releases and MergerLinks data.
Artemis, a Boston-based private equity firm, completed the acquisition of Millrock Technology, a provider of lyophilization instrumentation and ancillary products, according to press releases. Financial terms were not disclosed.
Millrock was advised by Sperry Mitchell & Company and Seward & Kissel. Artemis was advised by Robert W Baird and Morgan Lewis & Bockius (led by Mark Opitz) , according to press releases and MergerLinks data.
Zeta Global, a company specializing in AI-powered marketing cloud solutions, agreed to acquire enterprise software business from Marigold, a marketing technology company, for $325m, according to press releases.
Zeta Global is advised by Morgan Stanley and Latham & Watkins. Marigold is advised by Willkie Farr & Gallagher, according to press releases.
RateGain Technologies, a global provider of AI-powered SaaS solutions for travel and hospitality, agreed to acquire Sojern, an AI-led MarTech company focused on the hospitality sector, for $250m, according to press releases.
Sojern is advised by Jefferies & Company, according to press releases and MergerLinks data.
Core & Main, a US-based specialty distributor of infrastructure-related products, completed the acquisition of Canada Waterworks, a distributor serving southern Ontario municipalities and contractors, according to press releases. Financial terms were not disclosed.
Core & Main was advised by Stikeman Elliott (led by Jared Bachynski), according to press releases.
Givaudan, a Fragrance & Beauty company, agreed to acquire Belle Aire Creations, US-based fragrance house, according to press releases. Financial terms were not disclosed.
Givaudan is advised by Cravath Swaine & Moore (led by Andrew Wark) , according to press releases and MergerLinks data.
FusionTek, a company specializing in managed IT and managed security services, completed the acquisition of Computer Services Corporation, a Washington-based IT services firm, according to press releases. Financial terms were not disclosed.
BlackRock nears $38bn AES takeover. ( Reuters)
BlackRock-owned Global Infrastructure Partners is close to finalizing a $38bn, debt-included deal to acquire utility group AES.
The utility sector has seen a boost from rising power demand driven by artificial intelligence and data centers, prompting increased deal-making among companies and investors.
Berkshire nears $10bn Occidental petrochem deal. ( WSJ)
Warren Buffett’s Berkshire Hathaway is in talks to acquire Occidental Petroleum’s petrochemical business for approximately $10bn.
The deal, which would be Berkshire’s largest since 2022, could come together within days.
Neptune Insurance secures $368m through US IPO. ( Reuters)
Neptune Insurance priced its New York IPO at the top of its marketed range, raising $368m, the flood insurance provider announced on 30 October, amid strong investor interest in new listings.
Rick Perry’s Energy REIT Fermi secures $682.5m in IPO. ( Bloomberg)
Fermi, a real estate investment trust co-founded by former US Energy Secretary Rick Perry, raised $683m in its IPO, pricing shares in the upper half of its marketed range.
EMEA
HIG Capital, a private equity and alternative assets investment firm, completed the acquisition of workwear business of Rentokil Initial, a pest control, hygiene and wellbeing services provider, for $465m, according to press releases.
HIG Capital was advised by Jefferies & Company and Santander. Rentokil Initial was advised by Goldman Sachs, Baker McKenzie (led by Marie-Françoise Bréchignac) and FTI Consulting (led by Richard Mountain), according to press releases and MergerLinks data.
FN Browning Group, a small arms, ammunition and integrated weapon systems designer and manufacturer, completed the acquisition of Sofisport, a hunting and sporting shotshells manufacturer, according to press releases. Financial terms were not disclosed.
PERSOL, a comprehensive human resources company, agreed to acquire a majority stake in Gojob, an AI-driven staffing platform in France, according to press releases. Financial terms were not disclosed.
PERSOL is advised by Rothschild & Co, according to press releases.
KKR, a private equity firm, completed the acquisition of a minority stake in ADNOC Gas Pipeline, an integrated gas company, according to press releases. Financial terms were not disclosed.
Investindustrial-backed Windoria, a global food manufacturing company, agreed to acquire a majority stake in Al-Fursan Al-Maghawear, a Saudi Arabian manufacturer and distributor of sauces and shelf-stable foods, according to press releases. Financial terms were not disclosed.
APAC
Platinum Asset Management, an Australian asset management company, completed the merger with L1 Capital, a global investment manager, according to press releases. Financial terms were not disclosed.
L1 Capital was advised by Macquarie Group and Corrs Chambers Westgarth (led by Fadi Khoury) and GRACosway. Platinum was advised by Jefferies & Company and Allens (led by Guy Alexander and Julian Donnan), according to press releases.
MUFG in talks to buy $2.6bn stake in Shriram Finance. ( Reuters)
Japan’s Mitsubishi UFJ Financial Group is in advanced talks to acquire a 20% stake in Indian non-banking finance company Shriram Finance for INR232bn ($2.61bn), the Economic Times reported on 1st October.
The potential deal would be the latest Japanese investment in India, following Sumitomo Mitsui Financial Group’s banking arm taking a 24.2% stake in Mumbai-based Yes Bank.
LG Chem plans $1.4bn LG Energy share sale. ( Reuters)
LG Chem announced on 1 October that it will sell shares worth 2 trillion Korean won ($1.43bn) in its battery subsidiary, LG Energy Solution, as part of efforts to strengthen its financial position and enhance corporate value.
The company added that it will enter into a price return swap agreement with investors in connection with the stake sale.
India set for record IPO month with $5bn in deals. ( Bloomberg)
India’s IPO market is poised for a record-breaking October, with companies expected to raise over $5bn, highlighting strong investor demand in one of the world’s busiest equity markets.
Billion-dollar deals from Tata Capital and LG Electronics’ local unit are boosting confidence that India’s $5tn stock market can absorb large offerings, even as US tariffs and weak earnings weigh on other Asian equities.
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