Know What's Happening in Investment Banking
Know What's Happening in Investment Banking
Flex to acquire Electrical Power Products for $1.1B
Flex Ltd. announced a definitive agreement to buy Electrical Power Products for approximately $1.1 billion in cash. The target contributes about $323 million of annual revenue and delivers a mid‑to‑high‑teens EBITDA margin, and Flex expects the deal to be accretive to adjusted earnings per share in the first full fiscal year after closing.
DBRS, Inc. issued provisional credit ratings on March 25, 2026 for the Mortgage‑Backed Notes of the GS Mortgage‑Backed Securities Trust 2026‑PJ5. All senior A‑class tranches received a (P) AAA rating, while subordinate B‑class tranches were assigned lower ratings ranging from AA to B. The ratings are provisional and subject to finalization, and each tranche carries a US ⊝A designation, indicating they are not for wholesale investors in Australia. This rating structure reflects the typical senior‑subordinate hierarchy of residential mortgage‑backed securities.
IBM completed an $11 billion acquisition of Confluent on March 17, 2026, adding the leading data‑streaming platform used by over 6,500 enterprises, including 40 % of the Fortune 500. IBM frames the deal as buying an AI‑focused data platform that delivers real‑time data to power...
Today's M&A notes $BLX.to to be acquired by Brookfield / La Caisse for $37.25 cash per share, 31.8% premium, $9.0 billion $TERN to be acquired by MRK for $53.00 cash per share, 6.0% premium, $5.7 billion $JHG / Trian bumped bid by 6.1%...
Merck announced a $6.7 billion cash deal to acquire Terns Pharmaceuticals, paying a 31% premium and targeting the oral BCR::ABL1 inhibitor TERN‑701 for treatment‑resistant chronic myeloid leukemia. The transaction, slated to close in Q2 2026, adds an orphan‑drug‑designated oncology asset to Merck’s...
The U.S. Federal Trade Commission has filed a proposed settlement with CVS Caremark, accusing the pharmacy‑benefit manager of artificially inflating insulin prices and limiting patient access. The deal, which still requires FTC chair approval, mirrors a recent settlement with Cigna’s...
Ramraj Cotton, the Indian ethnic‑wear label famed for modernising the dhoti, is gearing its operations for a public listing by 2030. Founder K R Nagarajan aims for a ₹10,000 crore (≈$1.2 billion) turnover before the IPO, while rolling out professional systems, senior hires and...
Elon Musk’s SpaceX is set to file its IPO prospectus this week, eyeing a June debut that could fetch more than $75 billion in new capital and a valuation between $1 trillion and $1.75 trillion. The deal would involve top Wall Street banks...
The $TERN / $MRK deal announced this morning provides a good case study on how Accelerate's AI agents quickly analyze a merger arbitrage investment opportunity: - Equity research agent: Paste target ticker. Agent generates an initiating coverage report on the target. -...
Cambridge Mobile Telematics announced a $350 million financing round led by private‑equity firm TPG and joined by insurers Allianz and State Farm. The capital will fuel AI model development, a European rollout with Allianz and a hiring push for 30 AI...
Cabral Gold Inc. announced a bought‑deal financing of 21.055 million common shares at C$0.95 each, generating C$20 million (≈ $14.8 million USD) in gross proceeds. An over‑allotment option could add up to 3.16 million shares, potentially raising total proceeds to about C$23 million (≈ $17 million USD). The...
RA Capital Management has filed a prospectus for a new SPAC, Research Alliance III, with up to $57.5 million of capital. The blank‑check vehicle is openly scouting life‑science startups, emphasizing Chinese drug developers as potential targets. While the SPAC has not yet...
A death‑cross on the S&P 500—where the 50‑day moving average slipped below the 200‑day line—was triggered on Tuesday, prompting short‑term traders to brace for a pullback. The signal emerged as markets digested Jio Platforms' $4 bn IPO plans and Motilal Oswal's...
OpenAI announced an additional $10 billion injection, pushing its record financing round beyond $120 billion. The expanded round brings in new backers such as Andreessen Horowitz, D.E. Shaw Ventures, MGX, TPG and T. Rowe Price, while Microsoft remains a key investor. CFO Sarah Friar hinted...
Merck & Co. is in advanced talks to acquire Terns Pharmaceuticals in an all‑cash transaction valued at about $6 billion. The deal would add a promising rare‑cancer therapy to Merck’s portfolio and could be announced as early as Wednesday.
Cursor, the AI‑driven code generation platform valued at $29 billion, is seeing investor enthusiasm cool and market demand soften. The shift highlights broader uncertainty for AI‑assisted development tools that power DevOps pipelines.
Orange SA has entered advanced talks with Verdoso to sell its Globecast media services business, with the transaction expected to close by the end of 2026. The move could reshape Orange’s B2B portfolio and free capital for core network investments,...
South Korean memory chipmaker SK Hynix disclosed to the U.S. SEC that it is preparing a public offering of American Depositary Receipts, targeting a 2026 listing on a U.S. exchange. The company said the size, method and timing remain under...
Beijing‑based China Renaissance, managing about $4.6 billion in assets, has appointed Enna Weng as head of its U.S. capital markets unit and plans to add at least seven North‑America bankers this year. The move signals a renewed push to help Chinese...
In this episode, host Brian Dukes talks with serial entrepreneur Rachel Murphy about her two successful exits—first a consultancy she built in her early 20s and later a healthcare‑government services firm she grew to an eight‑figure sale. Rachel shares how...
while you’re spending 30 years grinding one business to sell it for 4x… someone else is acquiring 16 businesses in 7 years and exiting the entire platform at 10x.
Doral Renewables closed almost $900 million in construction and tax‑equity financing for its 430 MWac Cold Creek Solar + Storage project in Texas. The deal, led by MUFG and backed by a syndicate of global banks, underscores growing investor appetite for utility‑scale...
You ate their RM1.30 sushi while they built a RM235M empire and now they want your money. Launch IPO Prospectus today, March 25, 2026. (Save this for later) The Summary List 1. The retail onslaught of Empire Premium. 2. Building a fortune on cheap localized...
For those wondering if $MRK might be outbid, here are the deal termination terms from $TERN https://t.co/TbM3rWyEoG
Wells Fargo Commercial Mortgage Trust raised $586.3 million through a conduit transaction (series 2026‑C66) backed by 29 fixed‑rate commercial mortgage loans on 75 properties. The deal issues seventeen certificate classes, with the top‑rated AAA tranches enjoying a 30% credit‑enhancement cushion. The...
It's amazing that 25 years after Gleevec we are still watching drug companies pay billions for new drugs for CML. And that, in Adam's previous story, a once deadly cancer was referred to as a chronic disease. Anyway, $MRK buys $TERN...
With M&A potentially hitting $600B in 2026, will SAP and Oracle be the big buyers, or will new mid-market players emerge? While some startups may go public, giants like Microsoft seem less at risk due to their AI investments. ...
Paramount and Skydance have lodged a $111 billion hostile offer for Warner Bros. Discovery, prompting veteran tech journalist Kara Swisher to publicly declare she will leave CNN if the deal closes. Her remarks underscore growing unease about tech‑billionaire ownership of news...
$TERN M&A talks with $MRK Lot of upside positioning in it been highlighting, but need to see a stronger price tag https://t.co/MLOShQGHyF
BKR Capital announced a CA$20 million (≈ $14.5 million) first close of its Black Innovation Fund II, moving toward a CA$50 million target to invest in high‑growth Black‑founder technology companies. The milestone underscores a performance‑focused approach to diversity investing as the firm leverages strong...
Asia‑Pacific private equity saw exit value climb 24% year‑on‑year and net cash distributions become positive for the first time since 2021, driven by strong performance in Japan and Greater China. The rebound lifts liquidity for limited partners and reshapes advisory...
Apollo Global Management has placed a redemption gate on its private credit fund after Moody's downgraded KKR's private credit vehicle. The move signals heightened tension in the leveraged finance market and could reshape capital‑raising and distribution strategies for credit‑focused investment...
Netflix has terminated negotiations to acquire Warner Bros. Discovery's studio and streaming assets, ending a multi‑billion‑dollar transaction that had engaged top investment banks. The collapse leaves both companies to reassess strategy as Netflix focuses on ad‑supported growth and WBD pivots...
JPMorgan Chase & Co. has kicked off an $8 bn junk‑bond issuance to fund the $55 bn leveraged buyout of video‑game maker Electronic Arts, the biggest takeover in history. The deal splits into $5.5 bn of secured notes and $2.5 bn of unsecured bonds,...
Global share buybacks reached a record $1.46 trillion in 2025, up 8.4% year‑on‑year. Fifty‑two percent of companies in Capital’s index repurchased shares, a rise from 36% in 2015. The United States contributed 71% of total buybacks, while Europe accounted for just...
In the latest SCI‑In‑Conversation podcast, Aareal Bank’s chief credit officer Ralf Loewe outlined the institution’s growing reliance on capital‑relief trades, particularly Structured Risk Transfers (SRTs), to optimise regulatory capital. He highlighted recent market trends, including tighter spreads on asset‑backed securities and...
Synthetic risk transfer securities (SRTs) continue to trade at a spread premium over comparable asset‑backed securities (ABS), despite a broader tightening of credit markets. Tristan Teoh of Insight Investment notes the premium sits around 30‑50 basis points, reflecting strong investor...
The Asia‑Pacific region is experiencing a second year of strong M&A activity, with 2026 building on a robust 2025. Recent transactions involve hotel, food‑delivery, and energy assets across Vietnam, Taiwan, Japan, and Thailand. Japanese corporations are accelerating purchases of Western‑oriented...
Forgent Power Solutions and its shareholders are launching a secondary offering of 30 million shares, less than two months after the company's IPO. Investors linked to Neos Partners will sell 20.7 million shares while Forgent itself will issue 9.31 million shares. Priced at...
Spanish plasma‑based drugmaker Grifols announced approval for a U.S. initial public offering of a minority stake in its U.S. biopharma business. The parent will keep its primary listing in Spain and retain majority control of the unit. Proceeds from the...
Stack Capital Group Inc. announced a best‑efforts private placement to raise up to CAD 15 million (≈ US $11 million). The deal splits into a LIFE Offering of 466,666 units at CAD 18.75 each (≈ US $13.9) for up to CAD 8.75 million (≈ US $6.5 million) and a Concurrent Private Placement of...
The episode covers three main stories: a Republican proposal to fund the Department of Homeland Security while cutting $5 billion from ICE, a deep dive into the private‑credit market’s turmoil and how big banks are both exposed to and poised to...
Broadcast giant Nexstar has closed its $6.2 billion acquisition of TEGNA, creating the largest U.S. television station group with roughly an 80% national footprint. The deal faced immediate legal challenges from nine state attorneys general and DirecTV, but received regulatory clearance...
Anduril Industries, the defense‑tech startup, is poised for a new funding round at a reported $60 billion valuation, with marquee VCs Thrive Capital and Andreessen Horowitz ready to invest. Secondary‑market demand has driven premiums of up to 40%, highlighting a widening...
Gilead Sciences announced a definitive agreement to acquire privately held Ouro Medicines for $1.675 billion in cash, with up to $500 million in milestone payments. The deal gives Gilead exclusive rights to CM336 (OM336), a T‑cell‑engaging antibody aimed at autoimmune disorders, and...
Metrobank closed its public offer for the Series F ASEAN Sustainability peso‑denominated bonds a week early, citing strong investor demand. The 1.5‑year bonds carry a fixed 5.4727% coupon and will be listed on the Philippine Dealing & Exchange Corp. on April 14....
Rank One Computing Corp. (ROC) went public on February 23, raising $24 million in its Nasdaq IPO. Approximately $10.8 million will fund hiring engineers and scientists, $3.2 million will expand neural‑processing infrastructure, and $7.6 million will support working capital. Federal government contracts, which made...
Nelson Peltz’s activist firm Trian Fund Management has upgraded its bid for London‑based asset manager Janus Henderson to a "best and final" $8 billion offer, translating to $52 per share and clearing the $50‑a‑share hurdle. The proposal represents a 25% takeover...
Japan’s Sumitomo Mitsui Financial Group (SMFG) is reportedly assessing a bid for U.S. investment bank Jefferies, prompting a modest rally in the lender’s stock. Jefferies shares have slumped 34% this year after exposure to bankrupt auto‑parts maker First Brands, though...
“They’re all our clients, but I’m shocked that people are shocked,” JPMorgan’s commercial and investment bank. Until 5 years ago, I legitimately thought that private credit was funded by investors not bank debt - all a big RWA/capital game by...
Saudi quick‑commerce startup Ninja, founded in 2022, is weighing a Riyadh IPO after posting roughly $1 billion in 2025 revenue and targeting $1.6 billion in 2026. The company secured $250 million of funding in 2025, lifting its valuation to $1.5 billion and joining Saudi...
