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.
The NFL approved the sale of a 7% stake in the Las Vegas Raiders, valuing the franchise at $11.1 billion. Controlling owner Mark Davis sold the portion to Egon Durban of Silver Lake and Michael Meldman, who must pay a 10% flip‑tax to the league through March 2027. The deal also gives Durban a right of first refusal on any future controlling‑stake sale. The Raiders, ranked fourth in the league’s 2025 valuations, are poised to select Heisman‑winner quarterback Fernando Mendoza with the 2026 first overall pick.
When acquiring a business, building a deal flow engine is key. Here are three things I've learned about building a deal flow engine:
The episode examines Unilever’s decision to spin off its food division and merge it with spice giant McCormick, creating a $65 billion global food powerhouse. Analysts explain that Unilever is refocusing on higher‑margin beauty and personal‑care brands, while McCormick sees the...
UBS analysts released a list of twelve high‑conviction technology, media and telecommunications stocks, emphasizing their differentiated research perspective. The Swiss bank highlighted Amazon as its top pick, citing Amazon Web Services (AWS) revenue growth of roughly 38% for the current...
PFM Financial Advisors is launching an independent subsidiary, PFM Management Services LLC, to deliver dedicated management and administrative support to special districts nationwide. The new firm will handle financial coordination, reporting, fiscal impact analysis, tax roll services, compliance, board administration,...
In this episode of Motley Fool Money, hosts Tyler Crowe, Matt Frankel, and Lou Whiteman dissect a wave of high‑profile M&A activity, focusing on two massive food‑industry deals—a $26 billion acquisition of Restaurant Depot by Cisco Food Services and a $44 billion...
The Second Circuit affirmed that Barclays’ mandatory 4:1 reverse split of VXX exchange‑traded notes does not constitute a “sale” under the Securities Act, and that investors failed to meet the tracing requirement for a Section 11 claim. The court applied a...
Goldman Sachs, JPMorgan, KKR and other Wall Street firms are underwriting project‑finance and leveraged‑loan packages worth tens of billions of dollars for data‑center assets. The surge is tied to a trillion‑dollar forecast for AI‑driven computing infrastructure, reshaping credit markets and...
Whoop announced a $575 million Series G financing that lifts its valuation to $10.1 billion. The round, led by Collaborative Fund and backed by sovereign wealth funds, health institutions and star athletes, fuels the company’s push toward an IPO and worldwide growth.
In this episode of Thoughts on the Market, Morgan Stanley’s Chief Fixed Income Strategist Vishy Tirupathor and Global Head of Private Credit and Equity David Miller discuss the current state of private credit, emphasizing that the sector has weathered past...
Centessa Pharmaceuticals (NASDAQ: CNTA) surged 44.4% to $39.90 after Eli Lilly announced a $6.3 billion acquisition to broaden its metabolic and sleep‑disorder portfolio. The stock hit an intraday high of $40.26, its highest level ever, while the 40‑day moving average provided support....
Pharmaceutical companies launched an eight‑day acquisition blitz, with six firms announcing deals worth about $25.5 billion. Two of those transactions involve upfront payments exceeding $5 billion each, underscoring the aggressive pace. The deals focus on securing biotech pipelines and specialty drug assets...
Post‑Merger Integration (PMI) is the structured process of combining two companies into a single, value‑creating entity. It encompasses cultural alignment, IT and data consolidation, and functional harmonization, guided by detailed checklists and a 100‑day plan. Successful PMI requires senior‑level sponsorship,...
Texas city leaders warned that recent state actions are tightening access to municipal bond markets and curbing competition for procurement contracts. Austin Mayor Kirk Watson highlighted billions of dollars in upcoming projects—a $1.5 billion wastewater‑treatment plant, a $5 billion airport expansion, and...
The SPAC market is re‑energizing, and battery manufacturers are emerging as prime targets. Amprius Technologies saw its share price climb to $14.72 after a CEO change, while South Korea’s SK On secured a 7.2 GWh BESS contract and a 100 GWh supply deal...
Congress is weighing a second budget reconciliation bill that could strip the tax‑exempt status of municipal bonds, a move floated by House Budget Chairman Jodey Arrington and Senate Budget Chairman Lindsey Graham. The proposal, linked to fraud‑targeting tax cuts and...
Mindspace Business Parks REIT announced the acquisition of a 2.6 million sq ft, 12.4‑acre Grade‑A office campus in Chennai for ₹2,541 crore (≈ $310 million). The deal, executed under a right‑of‑first‑offer with sponsor K Raheja Corp, includes a preferential issuance of up to ₹675 crore (≈ $82 million) pending approvals. Once...
Autodesk said it will acquire Rhumbix, a construction labor‑management platform, as it rebrands its Construction Cloud offering to Autodesk Forma. The deal, terms undisclosed, is intended to tighten field‑to‑finance data flows for general contractors, specialty firms and heavy‑civil contractors.
Alamar Biosciences, the Fremont‑based proteomics company, filed to go public on Nasdaq after raising $128 million in a Series C round and adding almost 100 employees in two years. The move marks the firm’s transition from research‑focused labs to commercial sales of...
Investment bank Oppenheimer announced the hiring of three former Huntington National Bank executives—Matt Davis, Lauren Carter, and Brendan Shanahan—as managing directors to expand its municipal underwriting, sales, and trading platform. The hires follow a broader recruitment drive that began with...
If the FDA follows through with lifting restrictions on several peptides, it could unlock a massive market opportunity in performance medicine. One of the most interesting candidates IMHO – with all the bias I have as one of the founders -...
Aurelius, the private‑equity firm that bought LSG Asia‑Pacific from Deutsche Lufthansa in 2023, announced plans to sell the airline catering subsidiary. The move follows a broader strategy to streamline Aurelius’ portfolio and capitalize on the post‑pandemic recovery in airline services....
The Indian government plans to list the Anusandhan National Research Foundation (ANRF) on the Social Stock Exchange (SSE). The listing aims to broaden ANRF’s funding base by tapping corporate CSR contributions and diaspora capital, reducing reliance on annual budgetary grants....
The European Union’s new nuclear energy strategy could generate a financing need of roughly €700 billion (about $760 billion) in debt capital. At the same time, ESG‑labelled bond issuance in Asia slipped in 2025, indicating a regional slowdown in sustainable financing. The...
Barclays strategists warn that the U.S. Treasury market, now worth roughly $31 trillion, has expanded faster than bank capital, creating a structural liquidity gap. Since 2009 the market has grown about 9% annually, while bank capital has risen only 3.8% per...
A wave of Indian IPOs with large offer‑for‑sale components is hitting valuation resistance as filing deadlines loom. Continuum Green Energy’s ₹3,650‑crore ($440 m) issue is 66% OFS, Veritas Finance’s ₹2,800‑crore ($337 m) is 80% OFS, and Hero FinCorp’s ₹1,568‑crore ($189 m) is over...
ImmunityBio secured $75 million of non‑dilutive financing under its existing royalty‑interest purchase agreement with Oberland Capital, raising total committed capital to $375 million. At the same time, Nant Capital converted $25 million of debt into common stock, reducing the company’s liabilities. The combined...
Mesabi Metallics secured a $520 million senior secured credit facility from Valor Mining Credit Partners II, a mining‑focused fund backed by Breakwall Capital and Vitol. The financing supports the final phases of its $2.5 billion direct‑reduction iron ore mine and pellet plant in...
Chinese Satellite Startup GalaxySpace Kicks Off IPO The company’s core engineering team includes veterans from major state-backed aerospace institutions, including units under China Aerospace Science and Technology Corp. and China Aerospace Science and Industry Corp. Its business spans satellite mobile...
Carlyle agreed to buy a majority stake in MAI Capital Management, a private‑credit specialist managing roughly $5 billion of loan assets. Investcorp‑backed Resultant acquired Liberty Advisor Group, a Chicago boutique that advises private‑equity firms and Fortune 500 companies on M&A transactions. Greenbelt...
Fidelity BancShares announced a cash acquisition of Georgia‑based Affinity Bancshares for $142.8 million, paying $23 per share—a 17.35% premium to the prior close. Affinity contributes roughly $882 million in assets and a portfolio focused on commercial real‑estate, construction, and small‑business lending. The...
The Carlyle Group announced it will acquire a majority stake in MAI Capital Management for a valuation exceeding $2.8 billion, with the transaction slated to close in the second quarter of 2026. MAI, which oversees more than $72 billion in assets and...
Goldman Sachs reduced its price target for Coinbase (COIN) to $235, down from $270, while keeping a Buy rating. The downgrade stems from mounting regulatory scrutiny over stablecoin yield products, a key driver of Coinbase’s newer, higher‑margin revenue streams. The...
RIA sellers are re‑engineering earn‑out structures as market volatility threatens payout forecasts. Buyers are increasingly stripping market‑driven asset appreciation from revenue models and inserting catch‑up clauses that grant sellers extra time to meet targets if markets dip. Negotiations now prioritize...
NODWIN Gaming is raising a $100 million pre‑IPO round to pivot from pure esports into a broader youth‑media business. The capital will fund IP expansion and new monetisation layers rather than aggressive geographic growth, as the firm already operates in over...
Crown Reserve Acquisition Corp. I announced a definitive business combination with Carvix, Inc., valuing the automotive‑technology platform at an implied $1 billion enterprise value in an all‑stock deal priced at $10 per share. The transaction hinges on at least $80 million of PIPE...
Moody's latest special purpose district rating review, launched in December, recorded 158 upgrades, 57 downgrades and 60 confirmations across 164 Texas utility districts, 39 Colorado metro districts and 22 other states. Upgrades were mainly one‑notch and stemmed from stronger financial...
The Hong Kong Stock Exchange processed 586 IPO applications through March 2026, with 56 companies already listed and 18 approved pending listing. The Main Board handled 561 applications, dwarfing the GEM’s eight. During the quarter, 19 firms were delisted (15 Main...
1/Another mega M&A deal in the BioTech and Pharma sector with the acquisition of Apellis Pharmaceuticals - $APLS by Biogen $BIIB for $41 per share in cash at closing in a $5.6B deal. In addition, Apellis stockholders will also receive...
OpenAI completed the largest funding round in Silicon Valley history, raising $122 billion ahead of a blockbuster IPO expected by the end of the year https://t.co/jq6mF0qHvN via @WSJ
Eli Lilly announced a $6.3 billion acquisition of Centessa Pharmaceuticals, marking its largest deal in years. The purchase secures Centessa’s orexin‑based insomnia candidate and a pipeline of early‑stage neurological programs. Lilly is channeling cash generated by its GLP‑1 blockbuster drugs into the...
OpenAI adds $10 billion to its massive fundraising haul, including $3 billion from individuals. https://t.co/fYFIkCIpZB
When MDM Gets Absorbed: What the SAP-Reltio Deal Means for Customers Who Aren't SAP Shops https://t.co/pLHhNYHSPA
JD.com’s property arm and partners have appointed Bank of America, DBS Group and UBS as advisers for a Singapore‑based real estate investment trust (REIT). The REIT, which will bundle assets from JD Property, Partners Group and EZA Hill, targets roughly...
Hearing on $UNIT -- T-Mobile and TPG are partnering on a bid to acquire Uniti Group [NASDAQ: UNIT], according to sources. TMT FINANCE
Looks like some private credit is good. With Apellis $APLS set to be acquired by Biogen $BIIB, Sixth Street $TSLX is likely to earn a prepayment fee on its term loan (which is at SOFR + 575). https://t.co/AS5W0OFzUn
“The banker [might demand] an ‘opening balance sheet debt to equity ratio of at least 3:1.’ What does this mean?... Basically 25% of the purchase price needs to come from you.” –Borrow from Biz Brokers https://t.co/l2EObkfURN #smallbiz #mergersandacquisitions https://t.co/z7HqTBPGvz
The cash component of the McCormick-Unilever deal is greater than McCormick's market cap of ~$14.2 billion. Don't see that everyday https://t.co/htFEkz8aBy https://t.co/iWtXnzGFui
🚨 @elonmusk says reports of Robinhood and SoFi being excluded from SpaceX IPO are FALSE Don't believe everything you read on the Internet. https://t.co/tquUQsj9IO
Screw your shareholders by doing a stupid massively expensive issuance favoring a particular investor. Underperform your asset by 15%. It's unbelievably easy to make money when idiot management do these deals $MTPLF $ONDS $IONQ https://t.co/kMwFGySBfO
