Know What's Happening in Investment Banking
Know What's Happening in Investment Banking
Flex to Acquire Electrical Power Products for $1.1B, Expanding Power Infrastructure Portfolio
Flex Ltd. signed a definitive agreement to buy Electrical Power Products for about $1.1 billion in cash. The target adds roughly $323 million of annual revenue and delivers a mid‑to‑high‑teens EBITDA margin. Flex expects the deal to be accretive to adjusted earnings per share in the first full fiscal year after closing.
Private equity firms are increasingly relying on side‑letter provisions that contain vague valuation language, raising concerns over transparency and LP‑GP alignment. The practice could hinder the industry’s push toward broader investor participation, often termed the "democratisation" of private equity. Meanwhile, another general partner has launched a continuation fund strategy to extend the life of mature assets, offering liquidity alternatives for existing investors. Climate‑focused investors are also exploiting ambiguous contractual clauses to capture opportunistic exposures in emerging sustainability markets.
In 2022 Oklahoma issued $2.89 billion of utility bonds to recover costs from Winter Storm Uri, with $1.35 billion allocated to Oklahoma Natural Gas. Republican lawmakers filed a state Supreme Court brief alleging the Oklahoma Corporation Commission failed required audits of those...
Janus Living announced a $703 million IPO on March 16, 2026, offering 37 million shares at $18‑$20 each, which would value the REIT at roughly $4.8 billion. The company operates 34 senior‑housing communities, all under Resident‑Initiated Direct‑Expense Agreement (RIDEA) structures, making it the sole U.S....
Space-focused exchange‑traded funds are gaining momentum as rumors swirl around a potential SpaceX initial public offering that could price the company at roughly $1.75 trillion. The Procure Space ETF, billed as the first pure‑play space fund, has delivered a 100.7% gain...
Crypto wealth‑management platform Abra announced a merger with blank‑check firm New Providence Acquisition Corp III to become a publicly listed company on Nasdaq. The transaction values Abra at a $750 million pre‑money equity, with existing investors such as Pantera Capital and Adams...
I'm not gonna bother. This is another atrocious deal for the issuer. $MTPLF joins $ONDS, $BMNR, $IONQ doing a deal which costs 25-40% of proceeeds to get desperation financing. All companies that have done this deal have...
FabHotels' parent Travelstack Tech has secured SEBI approval to launch its IPO, featuring a Rs 250 crore fresh equity issue and an offer‑for‑sale of up to 2.68 crore shares. Early investors such as Accel, Goldman Sachs, Qualcomm and founder Vaibhav Aggarwal will offload...
EQT has completed its final exit from Galderma Group AG, selling roughly 34 million shares for about CHF 4.9 billion ($5.5 billion) in what the firm calls the largest sponsor‑backed block trade on record. The accelerated book‑building process on 13 March generated CHF 1.3 billion for the...
Spanish Broadcasting System (SBS) missed its March 1 deadline on $310 million senior secured notes and entered a 30‑day creditor standstill. Majority holders of the 9.750 % notes have agreed to forbear while negotiations explore new financing, term extensions or restructuring. SBS reported...
PhonePe, one of India’s largest digital‑payments platforms, has temporarily halted its planned initial public offering due to heightened geopolitical tensions involving Iran, Israel and the United States. The company cited volatility in global capital markets and said it will resume...
Tech.eu tracked more than 85 technology funding rounds across Europe last week, collectively raising over €4 billion. The cloud sector attracted the most capital at €1.7 billion, followed by artificial intelligence with €1 billion and legaltech at €488.9 million. Regionally, the United Kingdom led...
South32 CEO Graham Kerr, who will depart after 12 years, says the Perth‑based miner is too risky for larger acquisition predators. He highlights a strategic pivot toward base metals, targeting 90% of production in that sector within 18 months, with...
Optasia, the AI‑driven fintech, posted R4.4 billion revenue for 2025, a 76% year‑on‑year increase, surpassing its IPO guidance. Adjusted EBITDA rose 52% to R1.9 billion, delivering a 43.2% margin, while normalized net income grew 57% to R973 million. The company expanded its user...
In 2025 IT‑related mergers and acquisitions captured a larger slice of the overall deal market than in any prior year, according to Pitchbook data. The chart shows the IT share of total M&A value climbing to a new high, driven...
DNO ASA announced a non‑cash asset swap with Equinor, trading its stakes in four non‑core Norwegian Continental Shelf discoveries for a 19% interest in the Atlantis field and a 10% interest in Afrodite, both adjacent to the Kvitebjørn area. The...
Capgemini’s 2026 World Corporate and Investment Banking Report finds that 85% of banks’ corporate clients intend to work with non‑bank financial institutions within the next twelve months, seeking faster, more transparent services. Only 23% of clients feel current CIBs meet...
MBSB Investment Bank has shifted to a positive outlook on Malaysia's REIT sector, citing defensive attributes and earnings stability that appeal to investors in volatile markets. The bank expects the retail segment to remain resilient through 2026, driven by strong...
The Deal Lawyers Download podcast features Morrison & Foerster’s Mike O’Bryan outlining M&A trends for 2026. Topics include AI‑driven due diligence, evolving antitrust and national‑security review regimes, new SB 21 safe‑harbor rules, recent tax law changes, and strategies for acquihires, earnouts, and activist‑influenced...
Private equity firms are witnessing a revival of exit opportunities as the IPO market reopens, with analysts projecting that up to one‑third of all 2026 IPOs could be backed by PE sponsors. After a two‑year drought caused by volatile markets,...
The equity risk premium (ERP) is an essential ingredient in hurdle rates in corporate finance, discount rates in valuation and expected returns in financial planning. In 2009, I pulled together everything I know about the ERP, in a paper that...
Abra / New Providence Acquisition III deal overview Digital asset wealth management platform $846.3 million enterprise value Symbol $ABRX PR: https://t.co/PKIWSdVOsf IR deck: https://t.co/4K0equHQqD Disclosure: Long $NPAC shares + warrants in $ARB.to https://t.co/2X7jjFOvzd
KMD Brands, the parent of Kathmandu, Rip Curl and Oboz, has engaged Goldman Sachs to advise on a major recapitalisation of its assets. The move follows an early‑stage transformation plan and a recent trading update that lifted sales forecasts for Kathmandu....
$LEG merger arb is getting juicy. Deal is non-binding. Spread now ~18%. Spread went from ~6% → 18%, mostly on recent mkt turmoil. Mgmt gave $SGI long DD access, cancelled the conf call, and multiple execs just got CoC bonuses. Downside ~10% if...
GCC dollar‑denominated bond and sukuk issuances have plunged since the Iran war erupted, despite the region’s strong credit fundamentals earlier in 2026. The GCC still represents roughly 40% of all emerging‑market dollar issuance this year, with outstanding DCM at $1.2 trillion....
U.S.-based Citi has named Indran Thana as Managing Director and ASEAN Head of Real Estate Investment Banking, effective June, based in Singapore. Thana comes from UBS where he led the real‑estate, lodging and leisure franchise for Asia, building a top‑three...
Valori Capital announced that it expects to close its first asset‑backed finance transaction in the second quarter of 2026. The firm leverages securitisation technology to fund esoteric, asset‑heavy opportunities, positioning itself within the specialty finance and structured private credit space....
$LGVN - "Longeveron closes USD 15 million private placement of shares" Over 50x relative volume on its initial breakout last week over its 200MA, followed by multiple days of low relative vol consolidation... now, I'll be looking for continuation on the...
Singapore’s Monetary Authority is weighing an expansion of the Equity Market Development Programme (EQDP) to include pre‑IPO private firms, a move seen as a catalyst for a stronger IPO pipeline. To date, MAS has allocated roughly S$4 billion to nine asset...
the closing process in 5 steps: – step 1: off market cold outreach – step 2: NDA + 3 years financials – step 3: NBIO submitted in 24 hours – step 4: LOI executed, 90 day exclusivity – step 5: due diligence, reprice, close total timeline: 90 days
SpaceX potentially IPO’ing on 6/9 (69). Musk wanted to keep his companies private as long as possible so the IPO will set off rumors that private markets can’t shoulder the cashflow needs of SpaceX’s spending. The IPO is allegedly time to align...
The Swiss Federal Council will decide in April how much additional capital UBS must hold, with proposals ranging up to US$26 billion. New regulations will require the bank to fully deduct software and deferred‑tax assets from its regulatory capital, a move...
the 3 things that close every no money down deal: – capabilities (your credibility stack) – capital (the structure that deploys zero) – closing (the process that controls everything)
At 25, he was running a trading desk. At 28, he caused £827,000,000 in losses and collapsed Britain’s oldest merchant bank.
2026 is shaping up as a mega year for tech IPOs, with blockbuster listings such as SpaceX, Anthropic and OpenAI targeting valuations near $1‑1.25 trillion. Historical data shows tech IPOs have outperformed non‑tech offerings, delivering an average three‑year buy‑and‑hold return of...
Iran war chills the IPO market: No companies expected to price in the U.S. this week
JPMorgan Chase is preparing to place more than $30 billion of leveraged‑finance debt for upcoming buyouts, including Electronic Arts, Sealed Air and a pending Qualtrics transaction. The bank’s effort follows CEO Jamie Dimon’s warnings that the credit cycle could turn sour,...
IDB Invest closed a $3.5 billion capital increase, boosting its ability to finance and mobilize private investment across Latin America and the Caribbean. The new funding is expected to lift annual financing and mobilization from roughly $13 billion today to about $22 billion...
Brazilian corporations have re‑entered the spotlight as two major firms announced out‑of‑court restructurings covering roughly $13.5 billion of debt. The moves, reported by Bloomberg’s The Brink, signal a shift from judicial to market‑driven solutions amid Brazil’s lingering economic slowdown. Investment banks...
Innovision IPO Price Change What's the Final Decision now? Attractive or Not? https://youtu.be/BL5QievtKsk #ipo #ipoalert #innovisionipo
Payment‑in‑Kind (PIK) interest lets borrowers defer cash payments by issuing additional debt or equity. When used deliberately, PIK conserves liquidity for growth, acquisitions, or seasonal needs while the underlying business remains strong and protected by caps, toggles, and pricing premiums....
Three of my favorite stories (so far) from the highly educational and entertaining Lloyd Blankfein book. 1. Fischer Black’s (as in the Black-Scholes model) observation on gold trading that why not just leave it in the ground and trade on it...
Thames Water’s creditor consortium, London & Valley Water, has presented Ofwat with a "best and final" rescue package to avert a special administration regime. The deal adds roughly £3.4 billion of equity and £3.3 billion of new debt, while writing off about...
James Fok, chief commercial officer of CMU OmniClear, uses the 2026 Hong Kong budget as a springboard to argue that the city must build new physical and digital bridges with mainland China. He contends that deeper infrastructure ties will reinforce Hong Kong’s...
Mizuho upgraded Booking Holdings to its top internet pick, replacing Airbnb, after OpenAI scaled back direct checkout plans in ChatGPT. Analysts set an average price target of $5,900, implying roughly a 30% upside, with 83% maintaining bullish views. The endorsement...
India has officially lowered the minimum public share float for large listed companies, allowing firms valued above 5 trillion rupees to offer just 2.5% of their equity at IPO. The new rules introduce a glide‑path that requires companies to reach a...
Exit activity accelerated in January, with 148 sponsor‑backed transactions—the highest monthly count since 2023. The total deal value reached $51.6 billion, surpassing the trailing‑12‑month average by 26 %. This heightened exit velocity indicates stronger portfolio distributions for private‑equity and venture‑capital firms. Analysts...
Because founders are famously optimistic about the future of their business, selling their company during a growth phase may feel like giving away too much upside. A couple things to think about in this case: 1. A liquidity event is...
SpaceX is targeting a $1.75T IPO. That would make it the 6th largest company in the world on day one. Nasdaq is already proposing rule changes to let SpaceX enter the Nasdaq 100 in just 15 days instead of a year. My...
Leaving aside the bad precedent (govt threatening to shut down a co unless it gets paid), the fee itself is kinda insane. The entire enterprise value was only around $14 billion. So this would be a 71% “banker’s” fee.
#ThisDayInTechHistory. March 13, 1986. @Microsoft has it's IPO. (Video courtesy of Considerable) #Computer #Software #History https://t.co/542DUOnheH
