Xavier Niel to acquire a 16.2% stake in Vodafone from e& for £4.4bn.

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AMERICAS

IKS Health completes the acquisition of TruBridge for $565m.

IKS Health, a care enablement solutions provider, completed the acquisition of TruBridge, a provider of healthcare technology solutions for rural and community hospitals, for $565m, according to press releases.

TruBridge was advised by Solomon Partners, Cyril Amarchand Mangaldas (led by Bhargav Joshi), Maynard Nexsen, Sullivan & Cromwell (led by Scott B. Crofton), Willkie Farr & Gallagher (led by Maurice Lefkort), and ICR Healthcare (ex-Westwicke) (led by Asher Dewhurst). IKS Health was advised by Citigroup, JP Morgan, Katten Muchin Rosenman (led by Mark D. Wood and Thomas Lamprecht), and Shardul Amarchand Mangaldas & Co, according to press releases and MergerLinks data.

An investor consortium to acquire Russell Investments from TA Associates and Reverence Capital.

An investor consortium including B Capital and CalPERS, agreed to acquire Russell Investments, a global investment solutions provider, from TA Associates, a private equity firm, and Reverence Capital, a private investment firm, according to press releases. Financial terms were not disclosed.

Russell Investments is advised by Moelis & Co and Goodwin. B Capital is advised by Jefferies & Company, Ropes & Gray (led by Ariel Deckelbaum) and Joele Frank (led by Kate Thompson). Reverence Capital is advised by Gladstone Place Partners (led by Michael Landau), according to MergerLinks data and press releases.

EQT to acquire Copia Power from Carlyle.

EQT, a global investment organization, agreed to acquire Copia Power, an integrated power and AI infrastructure platform, from Carlyle, a global investment firm, according to press releases. Financial terms were not disclosed.

Copia Power is advised by Canaccord Genuity. Carlyle is advised by Guggenheim Partners, JP Morgan and Latham & Watkins, according to MergerLinks data and press releases.

StoneTree Investment Partners to invest in Wilbar Group.

StoneTree Investment Partners, a private equity firm, agreed to invest in Wilbar Group, a manufacturer of aboveground and semi‑inground swimming pools, according to press releases. Financial terms were not disclosed.

Wilbar Group is advised by Capstone Partners. StoneTree Investment Partners is advised by McGuireWoods and Stikeman Elliott, according to press releases.

Palm Beach Capital to invest in Nelson Worldwide.

Palm Beach Capital, a private equity firm, agreed to invest in Nelson Worldwide, a national architecture and design firm, according to press releases. Financial terms were not disclosed.

Palm Beach Capital is advised by Greenberg Traurig and Taft Stettinius & Hollister, according to press releases.

B Capital, Redpoint Ace, Goodwater Capital, and DCM led a $60m Series B round in Kaon AI.

Venture capital firms B Capital, Redpoint Ace, Goodwater Capital, and DCM, led a $60m Series B round in Kaon AI, generative AI platform and research lab pioneering the next era of interactive entertainment.

MGM Resorts in deal talks with Barry Diller's People. (WSJ)

MGM Resorts has been negotiating a potential deal with Barry Diller's People after the media mogul offered to buy the casino giant. MGM set up a special board committee and lined up advisers to evaluate the proposal, though the company believes the offer undervalues it.

Diller is being advised by bankers including JP Morgan, who are working to pull together financing for the deal.

BHP explores sale of Chilean desalination plant and power lines. (Bloomberg)

BHP is exploring the sale of a desalination plant and electricity transmission assets in Chile, as the world's biggest miner concentrates capital on its core copper business.

The assets could be valued at a combined $1.5bn to $2bn, with the transmission lines expected to raise $1bn to $1.3bn and the desalination plant roughly $500m to $700m.

Hedge fund Elliott builds stake in car-insurance software firm CCC. (Bloomberg)

Elliott Investment Management has built a large stake in car-insurance software provider CCC Intelligent Solutions, which has been exploring a potential sale.

The engagement is being led by investors from Elliott's private equity business. The size of Elliott's investment was not disclosed.

Holtec Nuclear files for US IPO amid surging power demand. (Reuters)

Energy company Holtec Nuclear filed for a US IPO, seeking to capitalise on investor enthusiasm for nuclear power amid an AI-linked electricity demand surge and government support for carbon-free energy.

The US IPO market has seen a resurgence after a few years of muted issuances, with larger deals and AI-linked listings driving dollar volumes toward record levels.

Fashion retailer Tailored Brands reveals revenue rise in US IPO filing. (Reuters)

Houston-based fashion retailer Tailored Brands filed for a US IPO, reporting net profit of $44.9m on revenue of $681.8m for the three months ended May 2.

This compares with net profit of $50.7m on revenue of $644.4m for the same period a year earlier, reflecting a rise in quarterly revenue.

Shionogi-backed Apnimed files for IPO to fund sleep apnea drug. (Bloomberg)

Apnimed, a late-stage drug developer backed by Japan's Shionogi, filed for a US IPO as its oral drug to treat obstructive sleep apnea moves closer to commercialisation.

The company submitted a new application to the US Food and Drug Administration for Oxnimbi, a fixed-dose tablet, in April 2026.

HarbourVest raises $4.75bn for seventh direct co-investment programme. (Press Release)

HarbourVest Partners held the final close of its Co-Investment Fund VII with $4.75bn in commitments, exceeding its $4bn target.

The fund focuses on co-investments across buyout and growth equity strategies, including a dedicated $500m+ sleeve targeting AI and healthcare innovation.

EMEA

Warburg Pincus to invest $130m in Oxylabs.

Warburg Pincus, a global growth‑focused investment platform, agreed to invest $130m in Oxylabs, a data infrastructure company serving AI, agentic systems, and enterprise customers, according to press releases.

Warburg Pincus is advised by Lazard, Freshfields, Latham & Watkins, and Sorainen. Oxylabs is advised by Goldman Sachs, Norton Rose Fulbright, Tegos (Ex TGS Baltic), Deloitte, and FTI Consulting (led by Christina Dell’Orto), according to press releases.

MSA Safety completes the acquisition of Autronica Fire and Security from Sentinel-backed Spectrum Safety Solutions for $555m.

MSA Safety, a global manufacturer and supplier of safety equipment, completed the acquisition of Autronica Fire and Security, a designer, manufacturer, and supplier of fire detection, gas detection, and alarm systems, from Sentinel-backed Spectrum Safety Solutions, a system distributor providing fire safety, building automation, and security solutions, for $555m, according to press releases.

Autronica Fire and Security was advised by JP Morgan. MSA Safety was advised by Bank of America and Sidley Austin. Sentinel was advised by Citigroup, JP Morgan, CMS Legal (led by Johan Svedberg), Kirkland & Ellis, and Broadgate Consultants (led by Roland Tomforde), according to press releases and MergerLinks data.

Morgan Stanley Infrastructure Partners to acquire a majority stake in Nicollin Environnement.

Morgan Stanley Infrastructure Partners, an infrastructure-focused investment platform, agreed to acquire a majority stake in Nicollin Environnement, a French environmental services company focused on waste collection, sorting, street cleaning and water-related solutions, according to press releases. Financial terms were not disclosed.

Nicollin Environnement is advised by Rothschild & Co and Clifford Chance. Morgan Stanley Infrastructure Partners is advised by Natixis Partners and Paul Hastings, according to press releases.

Shimadzu completes the acquisition of Tescan Group from Carlyle for $678m.

Shimadzu, an industrial and testing equipment manufacturer, completed the acquisition of Tescan Group, a manufacturer of scanning electron microscopes, from Carlyle, a global investment firm, for $678m, according to press releases.

Shimadzu was advised by Mitsubishi UFJ Morgan Stanley Securities and Clifford Chance (led by Natsuko Sugihara). Carlyle was advised by JP Morgan, according to MergerLinks data and press releases.

EasyJet backs rival £5.7bn Apollo bid as takeover battle brews. (Press Release)

Apollo Global Management launched a £5.7bn ($7.7bn) bid for easyJet at £7.15 ($9.58) per share, trumping a rival offer from Castlelake and setting up a potential takeover battle for one of Europe's biggest airlines.

EasyJet's board backed Apollo's proposal, withdrawing support for Castlelake's £6.90($9.25)-per-share offer, which the parties had agreed in principle only days earlier.

Saipem and Subsea 7 merger to face EU antitrust investigation. (Reuters)

The merger between Italian energy contractor Saipem and Norwegian peer Subsea 7 is set to face a full-scale EU antitrust investigation due to competition concerns.

The companies announced the deal in February last year to create a global player in offshore energy services.

Qiagen draws early takeover interest from EQT, Advent and KKR. (Bloomberg)

European molecular testing company Qiagen is drawing early takeover interest from private equity firms including EQT, Advent and KKR.

The company could attract further buyout firms as well as strategic players.

Miner ERG weighs breakup to split assets between its owners. (Bloomberg)

Eurasian Resources Group's owners are considering splitting the mining group into two businesses, separating its Kazakh and international operations between its two main private shareholders.

The group generates most of its revenue from producing iron ore, ferrochrome and aluminium in Kazakhstan, but also owns assets in Africa's Copperbelt and Brazil.

Qatar blocks defense joint venture between VW and Rafael. (Bloomberg)

The Qatar Investment Authority has vetoed plans for a cooperation between Volkswagen and Israeli defense company Rafael Advanced Defense Systems, meant to save hundreds of jobs at a VW factory site in Osnabrueck.

QIA, which owns more than 10% of VW shares and 17% of the voting rights, blocked a proposal to create a joint venture to make air defense systems at the struggling factory.

APAC

HCC Healthcare to go public via a SPAC merger with RF Acquisition Corp III in a $500m deal.

HCC Healthcare, an integrated healthcare conglomerate, agreed to go public via a SPAC merger with RF Acquisition Corp III, a special purpose acquisition company, in a $500m deal, according to press releases.

HCC Healthcare is advised by Bedrock Investment, K&L Gates and PricewaterhouseCoopers. RF Acquisition is advised by EarlyBirdCapital and Winston Taylor (led by Michael Blankenship), according to MergerLinks data and press releases.

ProjectNY to merge with Perfect Corp.

ProjectNY, a Cayman Islands-based merger vehicle controlled by Alice H. Chang, agreed to merge with Perfect Corp., an AI and AR software company serving beauty, fashion and creative industries, according to press releases. Financial terms were not disclosed.

ProjectNY is advised by Kroll and DLA Piper. ProjectNY is advised by Maples Group and Sullivan & Cromwell (led by Ching-Yang Lin), according to press releases.

Tencent leads deal to unwind Meta's $2bn Manus acquisition. (FT)

Tencent is in talks to become the largest shareholder of Manus as investors race to unwind Meta's $2bn acquisition of the AI agent startup after Beijing ordered the deal be reversed.

Most of Manus's former investors, including Tencent, ZhenFund and HSG, as well as the company's management, are discussing backing a deal to unwind the acquisition at the same $2bn valuation.

SMFG weighs strategy for India assets including Yes Bank. (Bloomberg)

Sumitomo Mitsui Financial Group is evaluating its India strategy, studying ways to streamline its various operations in one of the world's fastest-growing banking markets.

Japan's second-largest lender may seek to conduct its Indian business primarily through Yes Bank going forward, with SMFG discussing different scenarios with prospective advisers in light of changing regulatory guidelines.

SK Hynix raises $26.5bn in biggest foreign debut in US. (Bloomberg)

SK Hynix raised $26.5bn in its American depositary receipt offering, selling 177.9m ADRs at $149 each to deliver the largest ever US first-time share sale by a foreign company.

At $26.5bn, the offering tops Alibaba's US debut to become the third biggest listing in history.

Shein gets approval from Chinese regulator for Hong Kong IPO. (Bloomberg)

Shein has received approval from the China Securities Regulatory Commission to move ahead with its planned Hong Kong IPO, capping a yearslong effort by the fast-fashion giant to go public.

Shein plans to sell up to 341.6m H shares in the offering, with the company and its advisers having moved ahead with preparations after recent discussions with the regulator yielded positive signals.

Indonesia's Amman Mineral considers Hong Kong listing. (Bloomberg)

One of Indonesia's biggest copper and gold producers, Amman Mineral, is considering a second listing in Hong Kong and is seeking to hire banks to work on the offering.

If it proceeds, Amman Mineral would follow fellow miner Merdeka Gold Resources, whose shareholders in June sold about $304m of Hong Kong depositary receipts at the maximum price offered.

Milky Mist set to launch INR20.35bn India IPO this month. (Bloomberg)

Milky Mist Dairy Food is gearing up to launch its IPO as early as July, paving the way for what is expected to be India's largest dairy-sector IPO. The Tamil Nadu-based company has completed investor roadshows.

The share sale is expected to open at the end of the month or in early August, with the offering targeting INR20.35bn ($213m).

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