Kraken Parent Payward Closes Bitnomial Deal to Expand US Crypto Derivatives
Payward, the parent of Kraken, completed its purchase of Bitnomial, securing a fully CFTC‑regulated derivatives stack in the United States. The deal gives Payward ownership of a Futures Commission Merchant, a Designated Contract Market and a Derivatives Clearing Organization, which it will use to roll out regulated crypto products on Kraken and NinjaTrader. Initial offerings will start with spot‑margin trading, with perpetual futures and options slated for later release. Bitnomial will remain under its existing regulatory framework, allowing fintechs, banks and brokerages to tap the infrastructure.
Cure Mechanics Meet Cayman Capital Call Securitization, May 2026 - Securitisation of Capital Call Facilities Under Cayman Law
Fund‑finance lenders are increasingly using securitisation of capital‑call facilities to free regulatory capital and tap broader funding markets. The structures rely on Cayman Islands SPVs that are bankruptcy‑remote and can issue notes on the Cayman Islands Stock Exchange, qualifying for...
Home Health & Hospice M&A in 2026: Why the Market Has Reset and What Buyers Want Now
Home health and hospice M&A activity is rebounding in early 2026, but buyers are imposing stricter underwriting standards. Valuations have shifted from peak‑era multiples to performance‑based pricing, with EBITDA add‑backs limited to 12‑15% and multiples ranging 10‑15× EBITDA for strong...
Nebius Acquires AI Model Optimization Startup Eigen AI for $643M
Nebius Group NV announced it will acquire AI model‑optimization startup Eigen AI for $643 million, using a mix of cash and stock. The deal, expected to close within weeks, will integrate Eigen AI’s kernel‑level performance tools into Nebius’s managed inference platform,...
GameStop Gears Up For EBay Takeover Offer: WSJ
GameStop is reportedly preparing a bid for e‑commerce giant eBay, potentially as soon as this month. With a market cap of $11.2 billion and $9 billion in cash, the retailer has the financial heft to make a sizable offer against eBay’s $46 billion...
Canada's Gas-Rich Montney Shale Braces for Upstream M&A Influx
Shell’s $16.4 billion acquisition of ARC Resources has thrust Canada’s Montney shale into the global spotlight. The deal underscores the play’s reputation for high‑liquids gas, a rare commodity in a market where dry gas inventories are shrinking. International oil and gas...
GameStop Is Preparing Offer for eBay, WSJ Reports
GameStop is quietly amassing a stake in eBay as CEO Ryan Cohen prepares a possible takeover bid, aiming to lift GameStop’s market value beyond $100 billion. eBay, valued at roughly $46 billion, saw its shares jump about 14% after the news, while...
Temperance Street Funding Trust: Presale Report
DBRS Limited (Morningstar DBRS) has assigned a provisional (P) R‑1 high credit rating (sf) to the Series 1 Asset‑Backed Commercial Paper (ABCP) Notes, Class Eagle, issued by Temperance Street Funding Trust. The rating reflects strong credit quality for the newly created ABCP series....
Where Premiums Will Be Paid: Fashion & Beauty M&A Trends From 2025 to 2026
2025 saw a wave of high‑profile fashion and beauty M&A, highlighted by Prada’s €1.25 billion (~$1.36 billion) acquisition of Versace, Caleres’ $105 million purchase of Stuart Weitzman, and e.l.f. Beauty’s $1 billion deal for Rhode. The transactions underscore a shift from pure brand prestige to...
IPA Capital Markets Arranges $116M Construction Financing for PNW Industrial Property
IPA Capital Markets, the financing arm of Marcus & Millichap, arranged a $116.52 million construction loan for a 1.4‑million‑square‑foot industrial development in the Pacific Northwest. The loan provides 95% loan‑to‑cost financing at a five‑year fixed rate of 5.28%, with yield‑maintenance prepayment terms...
FIRST DRAFT LIVE: Newmark Capital Markets Head Chad Lavender Says CRE Debt Markets 'Almost Insatiable'
Newmark’s capital‑markets head Chad Lavender told Bisnow’s First Draft Live that commercial‑real‑estate (CRE) debt markets remain "almost insatiable" despite a stagnant Federal Reserve rate policy and lingering global uncertainty. He highlighted $378 billion of dry‑powder capital ready for deployment, noting that...
OpenAI Faces Mounting Pressure as Its IPO Timeline Slips Further : Analysis
OpenAI’s planned IPO for Q4 2026 is now deemed unrealistic, with PitchBook pushing the target to mid‑late 2027. The company generates roughly $2 billion in monthly revenue but is locked into $1.15 trillion of fixed infrastructure contracts, including a $60 billion‑per‑year Oracle deal starting in...
Judge's Ruling Is Likely to Scuttle San Diego Credit Union Merger
A San Diego County Superior Court judge denied California Coast Credit Union’s request for a preliminary injunction, effectively ending the planned merger with San Diego County Credit Union. The dispute stemmed from SDCCU’s attempt to rewrite the deal, including replacing...
Former Defence Minister Harjit Sajjan’s New Startup Lays Groundwork for Public Listing
Juno Industries, co‑founded by former defence minister Harjit Sajjan, raised C$12 million (≈US$9 million) by selling 15 million subscription receipts at C$0.80 each. The receipts will convert into shares after a planned reverse takeover of TSXV capital‑pool company Trailblazer Capital Corp, paving the...
Chouest Group Acquires Alliance Business From Helix Energy Solutions Group
Chouest Group completed the acquisition of the Alliance business from Helix Energy Solutions Group, folding it into its newly created Champagne Energy Solutions (CES). The deal expands Chouest’s offshore decommissioning and plug‑and‑abandonment platform, adding subsea intervention, marine logistics and infrastructure...
Jacksonville Aviation Authority Bringing $222 Million Next Week
Jacksonville Aviation Authority will price $221.7 million of alternate minimum tax‑eligible aviation revenue bonds next week, marking the airport's first publicly available bond issuance in two decades. The bonds are led by J.P. Morgan and co‑managed by BofA Securities, Ramirez & Co., and RBC...
April Muni Issuance Falls, but Remains Above 10-Year Average
April municipal bond issuance slipped 7.8% year‑over‑year to $47.607 bn across 797 issues, yet it remains well above the 10‑year average of $37.323 bn. The decline follows a strong 2025 year, with April 2025 topping $50 bn for only the second time. Tax‑exempt...
Diehl Automotive Group Adds Toyota, VW Dealerships Amid Buying Spree
Diehl Automotive Group announced the acquisition of Firelands Toyota and Volkswagen dealerships in Wooster, Ohio, along with an off‑site collision center, marking its second and third purchases in four months. The deals bring Diehl’s portfolio to 24 rooftops representing 13...
Chart: How ROHM, Toshiba, Mitsubishi Tie-Up Could Reshape the Power Sector
ROHM Semiconductor, Mitsubishi Electric and Toshiba have signed an MOU to explore merging their power‑semiconductor divisions, which together hold about 11% of the global market. The combined entity would become the world’s second‑largest supplier of power devices, trailing only Infineon’s...
ArchiMed to Take Esperion Therapeutics Private for $1.1bn
ArchiMed has agreed to acquire Esperion Therapeutics in an all‑cash transaction valued at $1.1 billion. The deal will take Esperion private, removing it from public markets and placing it under ArchiMed’s strategic control. Closing is expected in the third quarter of...
Loans in Focus: Blackstone Refinances Nine PBSA Assets, Lender Club Provides £450m for Luxury London Hotel, Generali Finances Madrid’s Four...
Blackstone’s iQ Student Accommodation platform secured a €657.5 million (≈$710 million) refinancing covering nine UK PBSA assets. A consortium of lenders, led by Doha Bank, provided a £450 million (≈$563 million) senior loan to refinance the Chancery Rosewood luxury hotel in London. Generali Real...
Starcloud Seeks More Orbital Data Center Funding Shortly After Unicorn Status
Starcloud, a two‑year‑old orbital data‑center startup, is seeking at least $200 million in new funding, which would double its valuation to roughly $2.2 billion. The capital raise follows a $170 million Series A round that made it the fastest Y Combinator company to achieve...
Analysis: Japanese and Korean Insurers to Accelerate M&As in the U.S. and Globally
Japanese and Korean insurers are accelerating cross‑border M&A to offset slowing domestic markets. Japanese firms have invested roughly US$35 billion overseas, with 86% of deals targeting the United States, while Korean groups are expanding beyond Southeast Asia, highlighted by DB Insurance’s...
Circus Acquires US-Israelian Kitchen Robotics
Circus SE completed an all‑cash acquisition of Kitchen Robotics for an estimated $150,000, securing full ownership of its patents, AI‑driven control algorithms, and NSF‑certified sensor systems. The deal expands Circus' intellectual‑property portfolio and gives it immediate access to U.S.‑approved autonomous...
Seaport, Hemab Price IPOs, While Avalyn Soars in Nasdaq Debut
Three biotech companies priced their initial public offerings between Thursday and Friday, collectively raising more than $850 million. Seaport Therapeutics secured $225 million at $20 per share, while Hemab Therapeutics attracted $210 million at $18 per share. Avalyn Pharma led the pack with...
How to Read a Bank Merger Announcement
The article breaks down the typical anatomy of a bank merger announcement, guiding readers to spot essential identifiers such as the names of the institutions, asset size, and strategic rationale. It then explains how deal terms—valuation, cash or stock consideration,...
Vistance Offloads Ruckus Networks in $1.9B Deal
Vistance Networks has agreed to sell its Ruckus Networks unit to Belden for $1.85 billion, with an expected net cash receipt of about $1.7 billion after taxes and expenses. The transaction, slated to close in the second half of 2026, will free...
CIL Report Identifies Sectors Ripe for Consolidation Across Six European Markets
CIL Strategy Consultants’ European Buy & Build Opportunity Index 2026 evaluates over 2,500 business segments in six markets to pinpoint sectors ripe for roll‑up activity. The report finds student accommodation, specialist cleaning, recruitment agencies and camping grounds among the most...
Posco Signs US$765m Deal for 30% Stake in Australian Lithium Mines
Posco Holdings has agreed to pay $765 million for a 30 percent stake in Mineral Resources’ Mount Marion and Wodgina lithium mines in Western Australia. The joint venture will give Posco rights to produce about 37,000 tonnes of lithium hydroxide annually, enough for...
Retrenchment to Re-Tranchement in Private Credit
Since the Global Financial Crisis, private credit has grown by filling the lending gap left by banks constrained by Basel III. Banks have not exited direct lending; instead they have retrenched to senior positions while private credit funds take junior tranches,...
Activist ADW Proposes $3bn Takeover of Roark’s Driven Brands
Activist investor ADW Capital has lodged an unsolicited cash offer to acquire Driven Brands Holdings for roughly $3 billion, proposing $18 per share—a 40% premium to recent trading levels. ADW, which owns about 3.7% of the company, aims to displace majority...
LEO Pharma to Acquire Replay for Rare Skin Disease Gene Therapy Platform
LEO Pharma has signed a definitive agreement to acquire gene‑therapy specialist Replay for an upfront cash payment of $50 million, with additional milestone fees and tiered single‑digit royalties. Replay brings a herpes simplex virus (HSV) platform that delivers large therapeutic genes...
Record-Low Spreads on EM Asia High-Grade Debt Show Resilience
Emerging‑market Asian investment‑grade dollar bonds posted a record‑low spread of about 56 basis points on Thursday, the tightest level recorded since Bloomberg began tracking the index in 2009. The compression reflects a sharp drop in new issuance across the region...
McEwen Inc. And Golden Lake Exploration Inc. Announce Closing of Arrangement
McEwen Inc. completed a statutory plan of arrangement with Golden Lake Exploration, exchanging Golden Lake shares for McEwen shares at an exchange ratio of 0.003876 and cashlessly exercising all outstanding warrants. The transaction brings Golden Lake’s Jewel Ridge and Jewel Ridge West projects—adjacent...
Better Access, Better Quality for Individual Investors, Says StepStone Group
StepStone Group announced that its Private Wealth division is extending institutional‑quality private‑market access to individual investors, particularly high‑net‑worth clients. The firm highlighted new due‑diligence tools, lower minimum commitments and a streamlined onboarding process. Executives Brett Schlemovitz and Miguel Sosa said...
Democratisation Is About Reopening Closed Doors, Says Simpson Thacher & Bartlett
Simpson Thacher & Bartlett’s global head of asset management, Rajib Chanda, argues that the so‑called democratization of private equity is less about opening brand‑new doors and more about re‑opening the ones that were shut after the 2008 crisis. He stresses that restoring historic access...
Ropes & Gray on Bringing Public and Private Together Through Democratisation
Ropes & Gray’s Keith MacLeod, alongside Capital Group’s Erik Vayntrub and Clara Kang, argue that hybrid fund structures are emerging as a key pathway to democratise private‑equity exposure. By blending public‑market liquidity with private‑market returns, these vehicles aim to open...
Partners Group on Positioning to Capture Exit Opportunities
Partners Group’s Ben McLean argues that despite a volatile macro environment, private‑equity firms can still build, transform and exit businesses, but only those of high quality will succeed. He stresses that the current market rewards disciplined investment and robust cash‑flow...
Download the May 2026 Issue of Infrastructure Investor
The requested Infrastructure Investor May 2026 issue was not provided; only a pay‑wall teaser appears, lacking title, author, date, and body. Consequently, no substantive news can be extracted or analyzed. Without the article text, details about projects, investments, or market...
Bison Resources Targets Carlin Trend Discoveries After Impressive ASX Debut
Bison Resources (ASX: BSR) debuted on the Australian Securities Exchange on April 16, raising an oversubscribed $5.5 million IPO. The proceeds will finance a multi‑stage exploration campaign across four Nevada projects—Ruby Lake, Cherry Springs, Bald Peaks and Medicine Range—situated in the...
Terex Corp (TEX) Q1 2026 Earnings Call Transcript
Terex Corp completed its merger with REV Group, forming a dedicated specialty vehicle segment led by legacy REV managers while keeping corporate functions unchanged. Management targets $75 million of run‑rate EBITDA synergies by 2028, with roughly half expected within the next...
Perella Weinberg Partners (PWP) Q1 2026 Earnings Call Transcript
Perella Weinberg Partners reported full‑year 2025 revenue of $751 million, the third‑highest in its history, though that represented a 14% drop from the prior record year. Record earnings came from Europe and a booming restructuring practice, while the firm added 23...
Job-Swaps-Weekly:-GB-Bank-Ceo-Steps-Down,-While-Reckoner-Launches-Superyacht-Construction-Strategy
GB Bank announced that its chief executive will step down, with the board naming an interim leader from within the finance division. The departure follows a period of aggressive growth in the bank's asset‑backed finance platform. Meanwhile, Reckoner Capital unveiled...
Goldman’s Freund Sees Early Signs of Australia M&A Rebound
Goldman Sachs’ Australia‑New Zealand M&A head Marissa Freund said the country’s deal market is showing early signs of a rebound after a prolonged slump. The slowdown was driven by market volatility, high inflation, rising interest rates and geopolitical uncertainty. Freund highlighted...
SpaceX May Face an Easier Path to S&P 500 Entry if These Newly Proposed R...
Index provider S&P Dow Jones announced a review to ease eligibility rules for megacap companies, potentially allowing fast‑track entry into the S&P 500 with a reduced listing period and no profit requirement. The move comes as SpaceX, Anthropic and OpenAI...
Morningstar DBRS Finalizes Provisional Credit Ratings on Towd Point Mortgage Trust 2026-FIX2
Morningstar DBRS finalized provisional ratings for Towd Point Mortgage Trust’s 2026‑FIX2 HELOC securitization, assigning AAA to the $285.8 million Class A1A, $3.6 million Class A1B and $289.4 million Class A1 tranches, and AA to multiple $16.6 million Class A2 series. The transaction pools 3,601...
Palo Alto Networks To Acquire AI Gateway Startup Portkey
Palo Alto Networks announced it will acquire Portkey, a startup that provides an AI gateway for managing and protecting autonomous agents. The deal, expected to close in the fourth fiscal quarter ending July 31, has undisclosed terms. Portkey’s platform processes trillions...
Morningstar DBRS Finalizes Its Provisional Credit Ratings on Chase Home Lending Mortgage Trust 2026-4
Morningstar DBRS finalized provisional credit ratings for Chase Home Lending Mortgage Trust 2026‑4 series. The agency assigned AAA (sf) ratings to senior classes representing roughly $2.5 billion of mortgage pass‑through certificates. The underlying pool comprises 428 prime jumbo mortgages with a...
CN on UP+NS: ‘Remedies Are Necessary’
Canadian National Railway (CN) reiterated its objections to the Union Pacific‑Norfolk Southern merger after the parties filed an amended application with the Surface Transportation Board. CN argues the revised filing fails to address the substantial competitive harms of a deal...
Kirby Is Crazy… Like A Fox
United Airlines chief Scott Kirby has publicly floated a merger with American Airlines, describing it as a growth‑driven partnership that could create a world‑leading U.S. carrier. American’s CEO Robert Isom rejected the proposal, labeling it a non‑starter and emphasizing focus...