WSP Global completes the acquisition of TRC Companies from Warburg Pincus for $3.3bn.

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AMERICAS

Eagle Energy Metals went public via a SPAC with Spring Valley Acquisition Corp II in a $312m deal.

Eagle Energy Metals, a nuclear energy company that combines domestic uranium exploration with proprietary Small Modular Reactor technology, went public via a SPAC with Spring Valley Acquisition Corp II, a special purpose acquisition company, in a $312m deal, according to press releases.

Eagle Energy Metals was advised by Nelson Mullins Riley & Scarborough and Gateway Group (led by Zach Kadletz and Cody Slach). Spring Valley Acquisition Corp II was advised by Cohen & Company Capital Markets and Greenberg Traurig, according to press releases.

Arcline Investment Management to acquire Hydraulics International.

Arcline Investment Management, a growth-oriented private equity firm, agreed to acquire Hydraulics International, a provider of ground support equipment, mobile test systems, and specialized pumps for aerospace, defense and industrial applications, according to press releases. Financial terms were not disclosed.

Arcline Investment Management is advised by RBC Capital Markets and Joele Frank (led by Tim Ragones and Alexander Wolfsohn). Hydraulics International is advised by Guggenheim Partners and Lazard, according to press releases.

Victor Capital completes the acquisition of Specialty Fenestration Group.

Victor Capital, a middle-market private equity firm, completed the acquisition of Specialty Fenestration Group, a Houston-based manufacturer of high-security windows and doors, according to press releases. Financial terms were not disclosed.

Victor Capital was advised by Blank Rome and Profile Advisors (led by Mike Geller). Debt financing was provided by Fidelity Direct Lending and Sound Point Capital Management, according to press releases.

GSK to acquire 35Pharma for $950m.

GSK, a major British-based multinational biopharmaceutical company, agreed to acquire 35Pharma, a clinical-stage biopharmaceutical company, for $950m, according to press releases.

35Pharma is advised by Centerview Partners, JP Morgan, Cooley and Stikeman Elliott, according to press releases.

Shamrock Capital completes the acquisition of Mutiny from Trailer Park Group.

Shamrock Capital, a private equity firm, completed the acquisition of Mutiny, an integrated creative agency, from Trailer Park Group, a company specializing in entertainment marketing and content production, according to press releases. Financial terms were not disclosed.

Shamrock Capital was advised by Willkie Farr & Gallagher and Prosek Partners. Trailer Park Group was advised by Moelis & Co and Ropes & Gray, according to press releases.

Charlesbank Capital Partners-backed Velocity One completes the acquisition of Kaney Aerospace.

Charlesbank Capital Partners-backed Velocity One, an aerospace and defense platform and holding company, completed the acquisition of Kaney Aerospace, an engineering and manufacturing firm, according to press releases. Financial terms were not disclosed.

Kaney Aerospace was advised by RBC Capital Markets. Velocity One was advised by Foley & Lardner. Charlesbank Capital Partners was advised by Prosek Partners (led by Ryan Fitzgibbon, Alexa Ottenstein and Peter Gavaris), according to press releases.

Infillion completes the acquisition of Catalina.

Infillion, an American digital advertising company, completed the acquisition of Catalina, a performance marketing partner and shopper intelligence firm, according to press releases. Financial terms were not disclosed.

Catalina was advised by Houlihan Lokey, according to MergerLinks data.

Macquarie–backed ERT completes the acquisition of Sev1Tech.

Macquarie–backed ERT, a digital engineering and mission services company, completed the acquisition of Sev1Tech, a digital modernization and IT transformation partner supporting complex space, defense and national security initiatives, according to press releases. Financial terms were not disclosed.

Sev1Tech was advised by KippsDeSanto & Co, according to press releases.

EIC Rose Rock-backed ZENRG Services completes the acquisition of Versiv Solutions from Artera.

EIC Rose Rock-backed ZENRG Services, a provider of recompression and emission-reduction services, completed the acquisition of Versiv Solutions, a provider of cross-compression and emissions-mitigation services, from Artera, a provider of innovative, sustainable, mission-critical infrastructure solutions, according to press releases. Financial terms were not disclosed.

Warner Bros. says Paramount’s $31-a-share bid may top Netflix. (Bloomberg)

Warner Bros. Discovery noted that Paramount’s revised $31‑a‑share offer could potentially surpass its existing $27.75‑a‑share agreement with Netflix.

The company is not withdrawing its recommendation in favor of the Netflix deal, but acknowledged that the updated terms from Paramount and Skydance are strong enough to warrant further discussions. The development could reopen the door to renewed bidding.

Sealed Air stockholders approve CD&R acquisition. (Press Release)

Sealed Air stockholders have approved the company’s pending acquisition by an affiliate of CD&R at a special meeting, covering all proposals related to the transaction.

The company expects the deal to close in the coming months, and management expressed appreciation to shareholders for their support.

AMD and Meta sign 6 GW GPU deal. (Press Release)

AMD and Meta signed a 6-gigawatt deal to power Meta’s AI infrastructure with AMD Instinct GPUs. The first MI450-based deployment will begin shipping in 2H 2026.

The agreement expands their partnership across silicon and systems to support rack-scale AI platforms. The infrastructure is tailored for Meta’s large-scale AI workloads.

VoltaGrid weighing IPO or sale at $10bn valuation. (Bloomberg)

VoltaGrid is exploring an IPO or a potential sale at a valuation above $10bn, as the company looks to raise several billion dollars to support its expansion plans.

Blackstone and BlackRock have both held discussions about either acquiring a stake or investing in the business. The process is centered on scaling VoltaGrid’s AI‑driven energy platform.

EMEA

Verdane to acquire Augmentum Fintech for £186m.

Verdane, a specialist growth investment firm, offered to acquire Augmentum Fintech, a London-listed growth capital fund, for £186m ($251m), according to press releases.

Augmentum Fintech is advised by Cavendish Corporate Finance (led by Marc Milmo, Robert Peel and Henrik Persson) and Stephenson Harwood. Verdane is advised by Houlihan Lokey (led by Tim Richardson) and Taylor Wessing, according to press releases.

Bitwise completes the acquisition of Chorus One.

Bitwise, a crypto index fund manager, completed the acquisition of Chorus One, an infrastructure company globally providing staking services for decentralized networks, according to press releases. Financial terms were not disclosed.

Chorus One was advised by Keefe Bruyette & Woods, according to press releases.

Innovation Industries led a $250m funding round in Axelera AI.

Innovation Industries, a European deep tech venture capital firm, led a $250m funding round in Axelera AI, a provider of purpose-built AI hardware acceleration technology for generative AI and computer vision inference, with participation from BlackRock, SiteGround Capital, Bitfury, CDP Venture Capital, European Innovation Council Fund, Federal Holding and Investment Company of Belgium (SFPIM), Invest-NL, Samsung Catalyst Fund, and Verve Ventures, according to press releases.

Axelera AI was advised by Voxus PR, according to press releases.

Robo.ai to acquire a 51% stake in Chinasky Car Trading.

Robo.ai, a technology company focused on building a global AI robotics network platform, agreed to acquire a 51% stake in Chinasky Car Trading, an automotive import and export trading company, according to press releases. Financial terms were not disclosed.

EQT will not make offer for Oxford Biomedica. (RNS Announcement)

EQT confirmed it does not intend to make an offer for Oxford Biomedica following earlier consideration of a potential bid. The decision ends discussions announced in January.

EQT said it appreciated engagement with Oxford Biomedica’s board and management during the review process. No further action is planned.

Santander targets €20bn profit after Webster deal. (Bloomberg)

Banco Santander aims to lift net income above €20bn ($23.6bn) by 2028 after announcing the acquisition of US lender Webster Financial. The bank maintained its pledge to return 50% of profits to shareholders.

From 2027 results, Santander will raise the cash dividend share to 35% and cut buybacks to 15%, shifting from a roughly even split. The change aligns with its updated growth targets.

West Qurna 2 output seen doubling as Chevron enters talks. (Reuters)

Iraq could nearly double output at the West Qurna 2 oilfield to 800k bpd as Chevron holds exclusive talks to take over from Lukoil. The shift would transfer operatorship of one of the country’s largest fields.

Baghdad is pushing to raise oil and gas production as global majors expand activity after years of instability. Higher capacity at West Qurna 2 would support national output targets.

Revolut weighs share sale at $100bn valuation ahead of IPO. (Bloomberg)

Revolut is considering a fresh share sale in 2H 2026 amid strong pre-IPO demand. The fintech was last valued at $75bn after secondary transactions.

Investors are pushing for a new round that could value the company at at least $100bn. Any sale is expected to follow a structure similar to prior transactions.

Kenya pipeline IPO oversubscribed at $824.1m. (Bloomberg)

Kenya raised KES106.3bn ($824.1m) from the IPO of state-run Kenya Pipeline, marking the country’s first such sale in more than a decade. The offer was oversubscribed, meeting its target.

The 65% stake sale values the company at KES163.6bn ($1.27bn), with Uganda National Oil paying $255.4m for a 20.15% share. The transaction closed on February 24.

Sonangol presses ahead with IPO plans despite privatization list removal. (Bloomberg)

Angola’s state oil company Sonangol is continuing IPO preparations despite being excluded from the latest privatization list. The company has completed debt sales and set up an investor relations office.

Management said the removal from the Propriv program does not signal abandonment of listing plans. No timeline for a potential offering was provided.

APAC

BillDesk to acquire the Indian payment activities of Worldline for €37m.

BillDesk, an Indian digital payment service provider, agreed to acquire the Indian payment activities of Worldline, for €37m ($43.6m), according to press releases.

Worldline is advised by BNP Paribas, Cyril Amarchand Mangaldas, Hogan Lovells and Taddeo (led by Antoine Denry and Wandrille Clermontel), according to press releases.

MIRATECH completes the acquisition of Exhaust Control Industries.

MIRATECH, a company specializing in emissions and acoustic control solutions for stationary engines, completed the acquisition of Exhaust Control Industries, an Australian-based manufacturer of industrial exhaust and emissions systems, according to press releases. Financial terms were not disclosed.

Exhaust Control Industries was advised by Macpherson Kelley. MIRATECH was advised by Allens (led by Joshua Hoare) and Paul Weiss Rifkind Wharton & Garrison (led by Annie Herdman), according to press releases and MergerLinks data.

Tongwei bids for Qinghai Lihao to spur solar consolidation. (Bloomberg)

Tongwei plans to acquire domestic rival Qinghai Lihao Qingneng as China’s solar industry moves to address chronic polysilicon oversupply. Financial terms of the transaction were not disclosed.

The deal will be funded with a mix of cash and shares, and Tongwei’s stock has been suspended for up to 10 days. The acquisition is aimed at accelerating consolidation in the sector.

Bolttech in talks to buy MoneyHero. (Bloomberg)

Bolttech is in discussions to acquire Nasdaq-listed MoneyHero, a deal that would combine two fintech firms backed by Richard Li. The company is conducting due diligence and valuation work on a potential takeover.

Bolttech raised $147m in a Series C round in 2025, valuing the business at $2.1bn. Investors included Sumitomo and Iberis Capital.

LG Energy selling 7.5% stake in Liontown in $298m block trade. (Reuters)

LG Energy Solution is selling its 7.5% stake in Australian lithium producer Liontown for at least $298m. The disposal covers 239.5m shares priced at AUD1.75 ($1.24) to AUD1.79 ($1.26).

The floor price is underwritten at AUD1.75 ($1.24), with bids accepted in AUD0.01 increments. The transaction represents LG Energy Solution’s full exit from Liontown.

Reignwood seeks overseas buyers for $1.6bn Thailand project. (Bloomberg)

Reignwood Group is targeting overseas buyers for its $1.6bn luxury complex in Thailand amid a domestic property slump. The 800-acre Reignwood Park is located near Bangkok.

The company is stepping up marketing through offices in Singapore, Beijing, Hong Kong and London, with roadshows planned in Dubai. Most of the THB50bn ($1.61bn) investment has already been deployed.

StepFun plans $500m Hong Kong IPO. (Bloomberg)

Tencent-backed AI startup StepFun is considering a Hong Kong IPO that could raise about $500m. The Shanghai-based company may go public as soon as this year.

StepFun has held discussions with potential advisers on the offering. The listing would tap investor demand for China’s artificial intelligence sector.

PLDT seeks dual US and Philippines listing for Maya. (Bloomberg)

PLDT plans to list its fintech unit Maya in both the US and the Philippines, with an overseas offering possible this year. The move would take the payments platform and digital bank operator public on two exchanges.

Foreign shareholders favor a US listing, while PLDT is pushing for a dual listing on the Philippine Stock Exchange. The structure aims to balance international demand with a domestic market presence.

Bagmane REIT seeks $3.9bn valuation in India IPO. (Bloomberg)

Blackstone-backed Bagmane Prime Office REIT is preparing an India IPO that could value the company at about $3.9bn. The developer has secured approval and begun investor roadshows.

The offering aims to raise INR40bn ($440m), including INR30bn ($330m) in new units and INR10bn ($110m) in a secondary sale by Blackstone. The listing could launch as soon as next month.

Noel Tata’s stance on IPO stalls chairman reappointment. (Bloomberg)

Tata Sons’ board was expected to approve a third term for Chairman Natarajan Chandrasekaran at a meeting in Mumbai. The discussion shifted after Noel Tata’s firm position on an IPO.

What appeared to be a routine reappointment, previously backed by Tata Trusts, unraveled during the meeting. The outcome highlighted internal differences over the group’s listing plans.

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