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.
Inclusive Capital Partners sold its remaining 8.5 million Bayer shares at roughly a 25% discount, raising about $380 million and triggering a 3.7% drop in Bayer’s stock. The exit removes a prominent activist voice as Bayer continues to wrestle with litigation costs and a heavy debt burden. Meanwhile, Merck entered a multi‑year research partnership with Quotient Therapeutics, paying $20 million upfront for access to its somatic genomics platform, with total deal value potentially reaching $2.2 billion. In a separate move, Gilead Sciences agreed to acquire Ouro Medicines for $1.68 billion upfront, plus up to $500 million in milestones, to bolster its autoimmune pipeline.
OpenAI is close to securing roughly $10 billion from a new venture round, bringing its latest fundraising total to about $120 billion. The round values the company at approximately $730 billion post‑money. Abu Dhabi‑based MGX, Coatue Management and Thrive Capital are leading the...
Roadside assistance provider RAC is preparing a potential £5 billion ($6.4 billion) flotation on the London Stock Exchange, marking the largest UK IPO in years. Private‑equity owners CVC Capital Partners and Silver Lake are reportedly lining up to sell their stakes, which...
Core Scientific secured $500 million in financing from JPMorgan, bringing its total Wall Street commitments to $1 billion after a prior $500 million from Morgan Stanley. The funding will accelerate equipment purchases, property acquisitions, and energy contracts as the miner pivots its 11...
Nova Scotia Supreme Court judge extended the stay of CFFI Ventures’ CCAA restructuring until May 29, keeping the $1.4 billion (≈ $1.0 billion USD) debt under court protection. A monitor from FTI Consulting will re‑evaluate the company’s roughly $367 million (≈ $270 million USD) asset base,...
Goeasy Ltd. secured debt‑relief concessions after a Q4 charge‑off surge of C$331 million ($241 million) forced its auto‑lending unit LendCare out of compliance, sending shares down over 60 % and its 6.875 % note to 79.25 cents. Lenders waived covenants, raised spreads by 100 basis...
Spain’s finance ministry has floated a new eligibility pathway that would allow sovereign bonds to be classified as sustainable under the EU’s Sustainable Finance Disclosure Regulation (SFDR). The proposal seeks to broaden the pool of assets that can meet ESG...
Advent announced the acquisition of Salt & Stone, the fast‑growing body‑care brand known for its natural, cruelty‑free products. The transaction includes the exit of Humble Growth, which made a minority investment in Salt & Stone in 2024. Financial terms were...
LondonMetric Property and Schroders Real Estate Investment Trust are reportedly weighing an all‑share bid to acquire Picton Property Services. The proposal would involve exchanging shares rather than cash, preserving liquidity for Picton’s shareholders. Picton has not received a definitive offer...
Cerebral, a large integrated mental‑health provider, has acquired Inflow, a CBT‑based digital therapeutic app for adult ADHD, though financial terms were not disclosed. Inflow delivers short, science‑backed daily modules and is supported by an eight‑week randomized controlled trial showing significant...
Lace, a Norway‑based chipmaking equipment startup backed by Microsoft, closed a $40 million Series A round to accelerate its helium‑atom‑beam lithography platform. The funding targets a test system that could enable sub‑10 nm features, a step beyond current extreme‑ultraviolet (EUV) tools.
Euler Motors secured a $47 million Series E round led by Lightrock, complemented by roughly $30 million in debt financing. The funding will boost product development, manufacturing capacity, and its dealer network across India. Revenue grew 12% to about $23 million in FY25 while...
The article clarifies how municipal bonds differ from bank loans, emphasizing that bonds do not create money while loans do through deposit creation. It walks through a $900 bond issuance, showing how an investment‑bank underwriter sells the securities, deducts fees,...
The article examines whether there is an optimal number of public companies in the United States, questioning the SEC chair’s push to “make IPOs great again.” It highlights the shift toward dual‑class structures, where 78% of market cap in controlled...
European Investment Bank approved a €90 million ($98 million) loan to the Port of Rotterdam Authority to fund shore‑power installations at three deep‑sea container terminals. The loan is complemented by a €70 million ($76 million) European Commission grant, bringing total public financing to roughly...
Turkcell secured a $1 billion syndicated loan from 14 banks to fund its 5G and next‑generation network rollout, ahead of Turkey’s April 1 launch. The facility, initially offered at $500 million under a Murabaha structure, was oversubscribed and doubled in size. HSBC acted...
DNV has helped Grenergy Renovables secure financing for its Central Oasis solar‑plus‑storage portfolio in Chile. The 398 MW solar PV and 1.4 GWh battery complex spans the Maule and Bíobío regions. International lenders, led by BNP Paribas with Santander and Rabobank, provided the...
Nuclear reactor developer X‑Energy, backed by Amazon, has filed for a Nasdaq IPO under the ticker “XE”. The company is pursuing more than 11 GW of small modular reactor (SMR) capacity in the United States and the United Kingdom, targeting high‑ass‑low‑enriched...
Primary Wave announced a definitive agreement to acquire Kobalt for an estimated $1.5 billion, creating a combined independent music publishing and technology company valued at roughly $7 billion. The deal, backed by Brookfield and pending regulatory clearance, positions the new entity as...
Apollo Global Management’s funds have signed a deal to buy Japanese glass maker Nippon Sheet Glass Company for roughly $3.7 bn. The transaction, slated to close by March 2027, will inject equity and strategic support to accelerate growth and technology investment.
Dubai Aerospace Enterprise (DAE) has signed $2.8 billion of new unsecured revolving credit facilities, replacing a $1.4 billion line and lifting its total capacity to roughly $4 billion. The financing, split between conventional and Sharia‑compliant tranches, underscores the CFO’s role in securing diversified...
Gilead Sciences signed a definitive agreement to acquire privately held Ouro Medicines for $1.675 billion in cash up front and up to $500 million in milestone payments, targeting the experimental T‑cell‑engaging antibody OM336. The deal, valued at up to $2.18 billion, gives Gilead...
Composition Wealth, a Los Angeles‑based registered investment advisor overseeing more than $10 billion in client assets, announced a merger with Edgewater Wealth Management, adding a $900 million advisory team. The 16‑person Edgewater group, which includes eight wealth advisors, is transitioning from Northwestern...
QCraft closed a $100 million Series D round to push its Level 4 autonomous‑driving platform and world‑model AI research, targeting deployment in over 50 vehicle models by 2026. Grab agreed to buy Delivery Hero’s Foodpanda Taiwan operation for $600 million, marking its first expansion...
Union Minister Nitin Gadkari launched the NHAI‑backed Raajmarg Infra Investment Trust (RIIT) on the Bombay Stock Exchange, where the inaugural public issue was oversubscribed about 14 times. The trust aims to monetize roughly 1,500 kilometres of national highways over the...
Indian government bond yields slipped on Tuesday as Brent crude hovered above $100 a barrel and U.S. 10‑year Treasury yields steadied near 4.40%, the sharpest sell‑off since October 2023. The benchmark 2035 bond yield was expected to trade between 6.81%...
GSP Crop Science - IPO : Listedt Flat to Positive ✅ Much better listing compared to yesterday's IPO ⭐ It listed at ₹328 with (2% listing gain)⬆️ We asked to AVOID this IPO. ❌ @champ_trader
lol Along with JPMorgan, Bank of America had created a strategy for some clients to bet against stocks with exposure to private credit. But the bank quickly retracted it and apologized for the idea, with its research analysts later attributing the...
Third Point’s high‑conviction merger‑arbitrage bet on the Indra Sistemas‑EM&E defense tie‑up collapsed, wiping out the fund’s European position. The breakup was driven by political push‑back, valuation disputes and integration complexity, sending both Spanish defense stocks lower. The failure has forced Dan...
Prism, the rebranded OYO, has acquired Motel 6 to spearhead a technology‑driven overhaul of budget hotels. The company is concentrating on economy and extended‑stay segments in both India and the United States, launching the Studio 6 brand for U.S. properties. CEO Ritesh Agarwal is...
Asian corporate bond markets rallied on Tuesday as geopolitical tension eased following President Donald Trump’s remarks about ongoing talks with Iran. Credit default swaps on investment‑grade Asian debt fell by at least four basis points, signaling reduced perceived risk. At...
The circular relationships within the private credit ecosystem are fascinating. For example, Cliffwater invests in Carlyle's private credit fund. On the other end, Carlyle's private credit fund lends to Cliffwater (first lien loan shown below). So it appears that ultimately, Cliffwater is lending...
Walker & Dunlop arranged a $350 million aggregation debt facility with JPMorgan Chase to fund a new self‑storage REIT backed by Centerbridge Partners and Reframe Holdings. The financing will support the joint venture’s plan to acquire over $500 million of Class A and...
SL Green is on the cusp of securing a $1.7 billion commercial mortgage‑backed securities loan to refinance its fully‑leased One Madison office tower. The deal will retire $1.2 billion of construction debt, fund $136 million in reserves, and allow owners to cash out...
A wave of regional bank consolidations accelerated in early 2026, with 25 announced deals valued at $15.11 billion. The flurry of transactions is reshaping the competitive landscape and putting pressure on larger banks to defend market share.
Interesting: @OpenAI calls out @Microsoft reliance as risk in investor document ahead of expected IPO. cc @dvellante @furrier @dhinchcliffe @DavidLinthicum @MarshaCollier @waqasmakhdum https://t.co/dsbT4BKzZu
IDB Invest is providing up to $14 million senior loan to Empresa Portuaria Austral to expand and modernize ports and ferry ramps in Chile’s Magallanes Region. The funding will upgrade the Arturo Prat and José Santos Mardones terminals, increasing berthing and cargo capacity. Improvements...
Citigroup has created an Infrastructure Financing and Capital Solutions (IFCS) unit focused on the Asia‑Pacific region. The new group will address the growing demand for large‑scale infrastructure funding, especially projects tied to Belt and Road initiatives. Eric Farina and Rob...
The European Central Bank (ECB) announced it will keep a close watch on the Significant Risk Transfer (SRT) market, emphasizing heightened regulatory scrutiny. While not proposing immediate rule changes, the ECB highlighted potential risks linked to capital‑relief trades and the...
JLL Capital Markets arranged a $136 million senior loan for 655 Union, a newly delivered 193‑unit trophy multifamily building in Brooklyn’s Gowanus neighborhood. The financing, provided by Freddie Mac and CenterSquare Investment Management, refinances an existing construction loan and marks the first...
Cambridge Savings Bank, a depositor‑owned institution with $6.9 billion in assets, has bolstered its capital base and is now prepared to pursue regional acquisitions. Equity rose 16% to $703.5 million and deposits grew 3.6% to $5.57 billion, driven by its digital arm Ivy...
Dunes Point Capital, a mid‑market private‑equity firm, is launching its fourth flagship fund with a target raise of $1.3 billion, a substantial increase from the $800 million raised for Fund III. The larger capital base reflects the firm’s ambition to scale its investment...
HMH files $231.4M US IPO (10.5M sh @ $19–22). Macro: energy recovery lifts services. Key: drilling-equipment focus; led by J.P. Morgan/Piper Sandler/Evercore. Risks: cyclicality, oil-price volatility. Trade: selective long on rig-count breakout 📈 — Viktor Kopylov, PhD, CFA More insights: t.me/si14Kopylov
Medline, the nation’s largest private medical‑supplies maker, went public in December 2025, raising $6.26 billion at a valuation north of $50 billion, making it the year’s biggest IPO. The offering followed a 2021 leveraged buyout that valued the family‑owned firm at roughly...
Spanish fragrance group Puig and U.S. beauty giant Estée Lauder Companies have entered talks about a possible merger, which could create a combined entity valued around $40 billion. The discussion follows a sharp decline in Estée Lauder’s share price, down nearly...
Simon Property Group and Institutional Mall Investors are set to close a $465 million refinancing loan for the Fashion Centre at Pentagon City, its adjacent Metro Tower office building, and the Ritz‑Carlton hotel. The five‑year, interest‑only loan, originated by Goldman Sachs,...
Rob Robinson warns that technology M&A teams often mistake rapid market momentum for durable marketing capability. When a product arrives at the right moment, its novelty can generate brand‑like awareness without a solid marketing org, inflating acquisition premiums. As the...
New York City is issuing $2.65 billion of general‑obligation bonds, but rating agencies Fitch, KBRA and Moody’s have shifted the city’s outlook to negative, citing a $5.4 billion budget gap and reliance on state‑approved tax hikes. The bond deal comprises four series,...
Municipal bond issuance is accelerating as data‑center projects drive demand for public‑power and water infrastructure, with demand projected to rise 20‑25% annually through 2030. While public‑power issuance is down 33.7% year‑to‑date, water‑sewer issuance is up 15.9%, and analysts forecast up...
Warner Bros. Discovery CEO warned that if the Paramount‑Skydance merger fails, the company will retain $7 billion but still grapple with a $33 billion debt load. The deal is designed to combine two massive content libraries with cloud infrastructure to exploit generative‑AI...
