Topic
Mergers
Business Sainsbury's Agrees £120m Sale of Argos to Swift Partners to Focus on Core Food Business
Sainsbury's has agreed to sell Argos for £120m to Swift Partners, a newly created company that includes former Co-operative Group boss Richard Pennycook. The supermarket chain aims to focus on its core food business, while Argos will continue operating in Sainsbury's shops, selling Habitat products and offering Nectar points. The deal is expected to complete next February.
Business Vedanta to Demerge Surplus Real Estate into Vedanta Property Platforms in Vertical Split
Vedanta, led by Anil Agarwal, announced a vertical demerger of its surplus real estate assets into Vedanta Property Platforms. Shareholders will receive one share of VPPL for every 20 Vedanta shares held. The portfolio includes 2,200 acres of industrial land and 55,000 sq ft of residential/commercial properties across five Indian states, with a potential future opportunity of ₹30,000 crore. The demerger requires NCLT approval, with regulatory filings expected in August 2026.
Logistics Diana Drops Hostile Tender for Genco as Takeover Talks Stall, Keeps Higher Bid on Table
Diana Shipping has allowed its hostile tender offer for Genco Shipping & Trading to expire after insufficient shares were tendered, but the company is keeping its separate $27.34-per-share takeover proposal on the table. The tender, which offered $24.80 per share, saw 31.6% of Genco's outside stock tendered. Diana now seeks direct negotiations, while Genco disputes valuation claims and questions the stock component of the proposal.
Paramount and Warner Bros Pause $110bn Merger Amid Legal Challenge from States and Unions
Paramount Skydance and Warner Bros Discovery have agreed to pause their $110bn merger until June 2027 while a US judge considers a legal challenge from 12 US states and the Writers Guild of America. The pause follows European regulatory approval, conditioned on ending a film distribution partnership with Universal Pictures. The companies insist the merger is necessary to compete with streaming giants, but opponents argue it harms competition and reduces bargaining power for creators.
Business BasicBlock acquires TrueNorth to expand beyond freight factoring into AI dispatch
Freight factoring firm BasicBlock has acquired TrueNorth, an AI dispatcher and free loadboard platform, to expand services for independent carriers beyond financing. The deal, announced Monday, unites two transportation tech startups with a shared focus on truckers. Financial terms were not disclosed.
Business Axis AMC Acquires Rs 12,000 Crore PMS Business from Axis Securities, Adds 2,500 Investors
Axis Asset Management Company (Axis AMC) will acquire the portfolio management services (PMS) business of Axis Securities, adding over 2,500 investors and taking its PMS assets under management (AUM) to around Rs 15,000 crore. The deal is among the largest PMS transactions in India by investor count and strengthens Axis AMC's alternatives platform. Naveen Kulkarni has been appointed chief investment officer for PMS and listed equity alternates.
Business Segro Board Unanimously Backs Prologis' Increased $18.7 Billion Takeover Bid
Segro's board agreed to back Prologis' increased £14 billion ($18.7 billion) takeover bid, with a 9.5% increase over the initial offer and a 47% premium to Segro's three-month weighted average share price. The UK Takeover Panel extended the deadline to August 12. The deal highlights growing consolidation in logistics real estate.
Business Penske Automotive Soars on $13.8 Billion Take-Private Bid by Two Largest Owners
Penske Automotive Group shares surged after its two largest shareholders, Mitsui & Co. (USA) and Penske Corporation, announced a $210 per share bid to acquire the remaining 27.8% of the company and take it private, valuing the automotive retailer at $13.8 billion. The deal underscores consolidation in automotive retail amid technological shifts.
Business Trimble's Transportation Division Sale: Unpacking the Strategic Divestiture of Key Acquisitions
Trimble is reportedly selling its transportation division, which includes major acquisitions Transporeon and PeopleNet. Analyst Bart de Muynck outlines the difficulties of merging carrier and shipper technologies, poor acquisition timing, and the challenges large enterprises face in unifying platforms. The divestiture signals deeper shifts in supply chain technology investment.
Business Anant Raj to Demerge Data Centre Business, Create Separate Listed Entity
Realty firm Anant Raj Ltd will demerge its data centre and cloud services business into a separate listed entity, Ashok Cloud Pvt Ltd, under a composite scheme of arrangement. The move aims to consolidate the data centre vertical and unlock shareholder value, as the company reported a profit of Rs 557 crore for FY2025-26.
Business Vår Energi Acquires BlueNord in $1.33 Billion Deal to Become Europe's Largest Independent Oil and Gas Producer
Norwegian oil and gas company Vår Energi has agreed to acquire BlueNord in a transaction valued at approximately $1.33 billion, combining assets on the Norwegian and Danish Continental Shelves. The merged entity will become Europe's largest independent oil and gas producer, with long-term production of around 450,000 barrels of oil equivalent per day, low operating costs, and access to two new European gas delivery points.
Business US Judge Temporarily Blocks $110bn Paramount-Warner Bros Merger Amid Antitrust Concerns
A US federal judge has temporarily blocked the proposed $110bn merger between Paramount Skydance and Warner Bros Discovery, granting a 14-day restraining order in response to an antitrust lawsuit filed by 12 US states. The judge cited serious questions about the deal's impact on movie distribution and the public's interest in antitrust enforcement.
Business Segro Rejects Enhanced $18.2B Prologis Takeover Bid, Third Offer Rebuffed
Segro has rejected Prologis' third and enhanced takeover bid valued at £13.5 billion ($18.2 billion), representing a 6% increase over the initial all-stock proposal. The offer includes a 20% cash component and a 41% premium to Segro's three-month weighted average share price. Segro called the bid opportunistically timed, while Prologis argued its proposal provides superior value and access to a larger logistics network.
Logistics Private Equity in Trucking: Why Most Deals Fail and the Texas Trans Eastern Exception
Private equity firms often struggle with asset-based trucking investments, as traditional models clash with the industry's cyclical nature. However, the nine-figure Texas Trans Eastern deal demonstrates that understanding market cycles and partnering with experienced owners can lead to success, according to FreightWaves and Spencer Tenney of The Tenney Group.
Business Uber to Acquire Delivery Hero in $14.8 Billion Deal, Creating Largest Food-Delivery Group Outside China
Uber agreed to acquire Delivery Hero at an equity value of $14.8 billion, creating the largest food-delivery group outside China. The deal, conditioned on a 50% plus one share acceptance threshold, is expected to close in the second half of next year and positions Uber to better compete with Just Eat and DoorDash.
Business TVS Arm Home Credit India to Acquire Education Loan Specialist Varthana Finance for Rs 967 Crore
Home Credit India Finance, a subsidiary of TVS Holdings, signed a share purchase agreement to acquire Varthana Finance, an education loan specialist, for Rs 967 crore in an all-cash deal. The acquisition aims to diversify Home Credit's portfolio, improve business mix, and create synergies in distribution, technology, and risk management. The transaction is subject to regulatory approvals and is expected to close within nine months.
Business Raymond in talks to acquire German aerospace engineering firm Deharde
Raymond is in discussions to acquire Deharde, a German precision engineering company that supplies aerostructures to Airbus and other OEMs. If completed, the deal would be Raymond's first overseas acquisition since its 2024 restructuring and would expand its aerospace manufacturing footprint, adding a European certified supplier relationship.
Business RWE Acquires Indirect Majority Stake in German Grid Operator Amprion
German utility RWE has acquired an indirect majority stake in transmission system operator Amprion, increasing its total shareholding to 55%. The transaction supports Amprion's €42 billion investment plan to expand Germany's grid by 2030.
Business Volkswagen sells majority stake in Everllence to Bain Capital in €7.4bn deal
Volkswagen has agreed to sell a 75% stake in German engine manufacturer Everllence to private equity firm Bain Capital in a deal valuing the business at €7.4bn ($8.4bn). Volkswagen will retain a 25% minority holding. The transaction is subject to regulatory approvals and expected to close later this year. Everllence, formerly MAN Energy Solutions, supplies marine engines and has growing businesses in carbon capture and industrial decarbonisation.
Business Quad-C backs fast-growing North Carolina transport group with investment
Private equity firm Quad-C has made a strategic investment in Armstrong Transport Group, a non-asset-based third-party logistics provider headquartered in Charlotte, North Carolina. The partnership provides capital to accelerate organic growth and acquisitions, with Armstrong's leadership retaining significant ownership. The company, on pace to exceed $2 billion in annual revenue, operates a nationwide agent network and offers cross-border logistics services.
Business Snap-on Acquires Diesel Laptops for $100 Million in Cash, Expanding Heavy-Duty Truck Diagnostics
Snap-on Incorporated acquired Diesel Laptops for $100 million in cash, closing on June 8, 2026, according to FreightWaves. The acquisition expands Snap-on's diagnostic capabilities into heavy-duty trucks and equipment, integrating Diesel Laptops into its Repair Systems & Information Group. The deal underscores the growing importance of advanced diagnostics in commercial vehicle repair.
Business Persistent Systems Launches $1.3 Billion Bid to Acquire Germany's Nagarro
Persistent Systems has launched an all-cash bid of about $1.3 billion to acquire Germany's Nagarro, in one of the largest cross-border acquisitions by an Indian IT services company. The deal, offering €81 per share, would create a $2.9 billion digital engineering and AI powerhouse with over 46,000 employees and is expected to close by March 2027.
Business Bureau Veritas Agrees Sale of Fuel Testing Division to Triton Partners for €470M
Investment fund Triton Partners has entered exclusive negotiations to acquire Bureau Veritas' fuel testing and inspection services business, BVF, for an enterprise value of €470 million. The transaction, expected to close in Q1 2027, would transfer a global network of 320 sites across 45 countries and 7,400 professionals to Triton.
Prologis Presses Segro After $16.6B Offer Rejected, Touts Strategic Benefits
Prologis has intensified its pursuit of Segro after the London-based logistics warehouse operator rejected a £12.6 billion ($16.6 billion) all-stock takeover bid. Prologis outlined a strategic thesis including access to its larger network and balance sheet, while Segro called the offer 'inadequate, opportunistic and one-sided.' Shares of Prologis fell 2.2%, while Segro rose 7.8%.
Business CCI Clears $1.78 Billion RCB Buyout by Aditya Birla Group, Times of India Consortium
The Competition Commission of India has cleared the $1.78 billion acquisition of Royal Challengers Sports Pvt Ltd by a consortium led by Aditya Birla Group and Times of India. Aryaman Vikram Birla will serve as chairman and Satyan Gajwani as vice-chairman. The deal highlights growing investor interest in sports franchises.
Business Alcoa Acquires South32's Aluminium Assets in $4.1 Billion Upfront Deal
Alcoa has agreed to acquire South32's bauxite, alumina, and aluminium assets in Australia, Brazil, and South Africa for $4.1bn upfront, with potential contingent payments of up to $750m. The deal, valued at up to $5.6bn enterprise value including assumed debt, will boost Alcoa's pro forma production and deliver $900m in synergies. South32 will reshape its portfolio toward base metals, with 85% of pro forma EBITDA coming from base and precious metals post-completion. The transaction is expected to close in H1 2027.
Up to 150 Former WH Smith Stores to Close After Court Approves TG Jones Rescue Deal
The High Court has approved a rescue deal for TG Jones, the owner of former WH Smith high street stores, allowing up to 150 store closures and steep rent cuts. Modella Capital, which acquired the chain last year, said the plan is vital to avoid insolvency and will invest savings into a turnaround strategy.
Halifax Brand Scrapped After 173 Years as Lloyds Banking Group Consolidates Portfolio
Lloyds Banking Group has confirmed it will retire the Halifax brand after 173 years, rebranding all customer accounts to Lloyds. The decision, reported by BBC Business, aims to simplify the group's portfolio. No job cuts are announced, and branches will be rebranded or relocated throughout 2027.
Business Debt's the Way for Indian IT Acquisition Funding: Persistent Systems Leads $1.5B Bridge Financing
Persistent Systems' $1.5-billion bridge financing from Barclays for its proposed acquisition of German IT firm Nagarro signals a broader trend of Indian IT companies increasingly using debt for transformative acquisitions, departing from their traditional cash-rich, debt-free balance sheets. Industry experts warn of risks but note the strategic necessity to build AI capabilities and gain scale.
Business Eldorado Drilling Completes $257M Acquisition of Vantage Drilling
Eldorado Drilling has completed its $257m acquisition of Vantage Drilling, creating a combined fleet of five rigs. Vantage will become an indirect subsidiary and delist from the Oslo stock exchange. The deal is funded by $125m in equity from Eldorado's principal shareholder.
Business AP Moller Holding Acquires Norwegian Shipleasing Specialist Ocean Yield from KKR
AP Moller Holding has agreed to acquire Ocean Yield from KKR, adding a Norwegian shipleasing platform with over 70 vessels and a contracted backlog exceeding $5 billion. The deal, which requires regulatory approvals, expands the Danish group's maritime portfolio following recent acquisitions of Maersk Supply Service, Maersk Tankers, and Svitzer. No purchase price was disclosed.
Business Tenney Group Forecasts Record-Breaking Transportation M&A in 2027
M&A advisory firm Tenney Group predicts a highly active 2026 and record-breaking transportation and logistics M&A in 2027, reversing a three-year lull. The firm's mid-year report notes increased buyer urgency and institutional capital inflows, despite headwinds like tepid freight demand and elevated interest rates. Cross-border operators tied to nearshoring are becoming premium targets, and the Supreme Court's broker liability ruling is reshaping deal due diligence.
Business Sky to Acquire ITV's Broadcast Arm in Landmark UK Media Takeover
Sky, the pay-TV and broadband company owned by Comcast, is expected to buy ITV's television and streaming channels, including ITVX, in one of the largest takeovers in British media history. The deal will create a new American-owned British media company, with ITV's production arm, ITV Studios, remaining as a separate publicly traded entity. Key ITV shows will remain free-to-air until at least 2034 due to public service broadcasting obligations.
Business EasyJet Reaches Agreement in Principle with Castlelake Over £5.2bn Takeover Bid
EasyJet has reached an agreement in principle with US investment firm Castlelake over a takeover offer worth approximately £5.2 billion, at £6.90 per share. The board said it would be minded to recommend the offer if a firm bid is made, but Castlelake must secure regulatory clearances, including compliance with EU ownership rules, by 3 August.
Business ITV Agrees £1.6bn Sale of Media and Entertainment Arm to Sky
ITV is selling its media and entertainment divisions, including broadcast channels and ITVX streaming service, to Sky for £1.6bn. The deal, one of the largest in British media history, excludes ITV's studio arm and is backed by Comcast, which owns Sky. Sky CEO Dana Strong called it a 'defining moment for British media'.
Business Prestige Estates acquires 50% stake in Rs 4,500 crore Mumbai commercial project
Prestige Estates Projects Ltd has acquired a 50% stake in Advent Convention and Hotels International Ltd for Rs 504 crore to co-develop a Rs 4,500 crore commercial project in Mumbai. The project in Andheri East will have 1.50 million sq ft of leasable area. The company also reported a two-fold increase in net profit to Rs 1,195.5 crore for FY2025-26.
Business Fincantieri Acquires Four Firms to Build Global Underwater Technology Champion
Italian shipbuilder Fincantieri has acquired four companies—Next Geosolutions, WSense, Graal Tech, and Defcomm—to create a vertically integrated underwater technology hub. The deals accelerate the group's underwater revenue target to over €1.1bn by 2026, four years ahead of schedule, with pro forma EBITDA of about €220m.
Business Getty Images calls off Shutterstock merger after UK regulator's divestment demand
Getty Images abandoned its planned merger with Shutterstock after the UK competition regulator required divestments that the companies deemed unacceptable. The deal, which would have created a dominant stock photography platform, is now terminated.
Business Argosy Private Equity Acquires Controlling Interest in Asset-Light 3PL K&L Freight Management
Argosy Private Equity announced Monday the acquisition of a controlling interest in K&L Freight Management, an asset-light third-party logistics provider. Financial terms were not disclosed. K&L will continue to be led by its management team, which also reinvested in the transaction.
Business Trimble shares rise 2.4% on report of potential sale of transportation unit
Trimble shares rose 2.4% on Tuesday after Axios reported the company is working with Goldman Sachs to sell its Transportation & Logistics segment. The unit, which includes a transportation management system and maps product, generates $550 million in annual sales. Oppenheimer analyst Kristen Owen sees the potential divestiture as positive, citing prior portfolio simplification steps and a 'decade-low valuation.'
Commodities TotalEnergies Sells 85% Stake in Malaysia Block 2E to Inpex for $350 Million
TotalEnergies has sold its 85% interest in Block 2E offshore Malaysia, representing a net 8.5% stake in the Marjoram gas field, to Inpex for $350 million. The deal aligns with TotalEnergies' strategy to monetize non-operated assets and prioritize low-cost, low-emission growth projects. The Marjoram field, operated by Shell and expected to start production in 2026, is part of a $10 billion development.
Logistics From Trucks to Trade Compliance: Three Logistics Firms Make Strategic Acquisitions
Three logistics companies—AmeriLux Transportation & Logistics, ANDY Corp., and Imperative Logistics Group—announced acquisitions this week to expand trucking capacity, cross-border services, and customs brokerage, reflecting a trend of using M&A to add specialized capabilities.
EasyJet Rejects £4.74bn Castlelake Takeover Bid, Calls Offer 'Highly Opportunistic'
EasyJet has rejected a £4.74bn takeover offer from US investment firm Castlelake, accusing it of trying to buy the airline 'on the cheap'. Castlelake, which already holds a 2.14% stake, has until Friday to make a firm offer or walk away. The bid includes a partnership with two EU nationals to comply with ownership regulations.
Logistics Seacor Marine’s Largest Shareholder Demands Fleet Sale Worth More Than $1 Billion
Seacor Marine’s biggest shareholder, Pointillist Family Office, has sent a letter to the board demanding a sale of the company or its fleet, valued at over $1 billion. The shareholder argues the current $181 million market capitalization severely undervalues the high-specification fleet, and recommends an outright corporate sale or structured asset monetization.
Business Meta Invests $900 Million in Cred, Elevates Founder Kunal Shah to Lead WhatsApp Globally
Meta Platforms is investing $900 million in fintech Cred, valuing it at $4.5 billion, and elevating founder Kunal Shah to lead WhatsApp globally. Shah will succeed Will Cathcart, relocating to California, while Miten Sampat becomes interim Cred CEO. The deal underscores Meta's push to monetize WhatsApp in India through payments and business messaging.
Business Skyborn Renewables Sells 25% Stake in German Baltic Sea Wind Farm Gennaker
Skyborn Renewables, a BlackRock-owned offshore wind developer, has agreed to sell a 25% stake in the Gennaker wind farm in the German Baltic Sea to Stadtwerke München. The 976.5 MW project, once completed, will be the largest offshore wind farm in the German Baltic Sea and is expected to power approximately 1 million homes annually. The transaction is subject to regulatory approvals and construction financing closing, targeted for Q3 2026.
Business EasyJet rejects £4.7bn takeover bid from US investment firm Castlelake
EasyJet has rejected a £4.74bn takeover offer from US investment firm Castlelake, which described the bid as 'highly opportunistic'. Castlelake, which already holds a 2.14% stake, made three proposals this month and has now gone public to allow shareholders to consider the offer. The deadline for a firm bid is this Friday.
Business Vantage Drilling Merger with Eldorado Clears Shareholder Vote, Transaction Valued at $257.6M
Shareholders of offshore drilling contractor Vantage Drilling approved the proposed merger with Neil Hall-led Eldorado Drilling during a special general meeting. Under the terms, Vantage will become a wholly owned subsidiary of Eldorado, with Vantage shareholders receiving $19 per share in cash, representing an equity value of approximately $257.6 million. The transaction is funded by $125 million in equity commitments from Eldorado's principal shareholder. Completion remains subject to certain conditions.
Business Dealmaking Stays Strong as Startup M&A Momentum Carries Into 2026
Indian startups are experiencing a surge in M&A exits, particularly in consumer, fintech, and ecommerce sectors, signalling a robust recovery in dealmaking. Major acquisitions by L'Oréal, Marico, USV, Pine Labs, and Meesho highlight strategic buyers' appetite for new capabilities. The recovery is driven by maturing startups and staged exit structures, with momentum carrying into 2026.
Business Wipro raises Aggne stake to 80% with $2.1 million investment to strengthen insurance technology business
Wipro has raised its ownership stake in insurance technology company Aggne to 80%, investing $2.1 million in the process. The acquisition deepens Wipro's presence in the insurance tech sector.
Business Transportation deal values surge as buyers shift to specialization, scarcity
A mid-year report from PwC reveals transportation and logistics deal values are surging as buyers pivot from network scale to acquiring scarce technology assets and specialized capabilities. Average deal size has climbed 321% since 2023, with quarterly totals reaching $39 billion in the first two months of Q2. Buyers are focusing on AI, automation, temperature-controlled logistics, and cross-border infrastructure, while an easing regulatory environment enables larger transactions like the pending Union Pacific-Norfolk Southern rail merger.
Business Yum! Brands to Sell Pizza Hut Chain for $2.7 Billion in Two-Part Deal
Yum! Brands announced the sale of its struggling Pizza Hut chain for $2.7bn. Private equity firm LongRange Capital will acquire the brand outside mainland China for $1.5bn, while Yum China Holdings will buy the mainland China operations for $1.2bn. The transactions are expected to close in the third quarter of 2026, subject to regulatory approvals, as Yum! Brands focuses on its remaining core brands KFC and Taco Bell.
Business Paramount Refused to Air Ad Criticizing Its $111 Billion Merger With Warner Bros.
Paramount refused to air a 30-second advertisement from Freedom of the Press Foundation that criticized its $111 billion merger with Warner Bros. Discovery, according to the nonprofit. The ad, submitted for the UFC Freedom 250 event, warned of potential censorship under Trump-allied CEO David Ellison. Paramount did not comment on the rejection.
Business Historic Cammell Laird Name Set to Disappear After Balaena Takeover of APCL Group
Balaena's acquisition of APCL Group will see the historic Cammell Laird shipyard renamed Balaena Birkenhead, ending a nearly 200-year-old brand. The deal merges five shipyards and 12 dry docks across the UK and Gibraltar.
Business Woodside Energy Dismisses ExxonMobil Takeover Speculation as Unfounded
Woodside Energy has denied any discussions with ExxonMobil regarding a potential acquisition, following media reports that the U.S. supermajor was evaluating Woodside as a target to bolster its LNG and Asian market presence. Bloomberg reported early-stage internal talks at ExxonMobil, but Woodside confirmed no proposal or negotiations exist.
Business Salesforce Acquires Customer Service AI Firm Fin for $3.6 Billion
Salesforce announced a $3.6 billion acquisition of Fin, the AI-first customer service company formerly known as Intercom. The deal adds Fin's proprietary Apex model and AI agents that resolve 76% of customer queries, complementing Salesforce's Agentforce platform which generates $1.2 billion in annual recurring revenue. The transaction is subject to regulatory approval and expected to close by Q4 2026.
Business Union Pacific CEO Jim Vena rejects potential government investment in $85B Norfolk Southern merger
Union Pacific CEO Jim Vena dismissed the possibility of government investment in the railroad's $85B merger with Norfolk Southern, stating UP can handle the price alone. President Trump had suggested government equity stakes in essential companies. Vena views Trump's interest positively but had no direct communication. The US has invested $21B in 16 deals since January 2025.
Business Fox to Acquire Roku for $22 Billion, Aiming to Create Third-Largest US TV Player
Fox Corporation announced it will acquire streaming platform Roku for about $22 billion, or $160 per share. Subject to regulatory approval, the deal would combine Fox's live content portfolio with Roku's streaming ecosystem to create the third-largest player in US television.
Business US States Reportedly Plan Lawsuit to Block Paramount's $110B Warner Bros. Takeover
Multiple US states are reportedly preparing a lawsuit to block Paramount's $110 billion acquisition of Warner Bros. California Attorney General Rob Bonta has raised concerns about market consolidation, and the suit is expected within weeks. The deal has faced opposition since its announcement in February 2026.
Business Germany’s security tech Giesecke+Devrient bets Rs 1,100cr on India, eyes acquisition
Giesecke+Devrient (G+D), the German security technology group, is investing Rs 1,100 crore in India in 2026, targeting digital infrastructure and localisation. The company is also looking at acquisition opportunities in fintech and digital security, as CEO Ralf Wintergerst highlights the 'cash paradox' where digital payments grow but cash remains resilient.