Know What's Happening in M&A
Know What's Happening in M&A
John Oliver mocked Paramount’s $110 billion acquisition of Warner Bros. Discovery, a deal that outbid Netflix after the streaming giant raised its offer to $31 per share. The merger creates a media powerhouse combining Paramount’s film and TV assets with Warner’s extensive library and Discovery’s nonfiction portfolio. Oliver’s jokes highlight concerns about corporate control over HBO content and the future of his own show.
Pantheon’s Amyn Hassanally and Charlotte Morris argue that continuation vehicles are increasingly appealing to sponsors targeting small and mid‑cap companies. As more investors explore this structure, the pool of opportunities in the lower‑mid market deepens. The firm highlights that smaller...
QIC partner Zach Jackson stresses that secondary buyers must fully underwrite both the sponsor and the underlying asset when assessing continuation vehicle (CV) opportunities. The firm adopts a no‑compromise stance, insisting on comprehensive due diligence rather than relying on surface...
StepStone Group executives Adam Johnston and Ted Black argue that continuation vehicles (CVs) continue to be a preferred exit option for private equity firms. They cite CVs’ ability to consistently outperform the broader buyout market as the primary driver. Even...
UBS reports a surge in secondary market activity, with general partners and limited partners bringing larger trophy assets and full portfolios to market. Deal sizes and transaction volumes have expanded markedly, reflecting deepening investor appetite for secondary exposure. Thomas Roche...
Kirkland & Ellis partners observe that GP‑led continuation vehicles have become increasingly standardized within the secondary market. Yet negotiations still reveal tension as secondary buyers apply M&A‑style rigor while sellers favor more flexible terms. The firm highlights the growing importance...
TPG GP Solutions co‑managing partners Matt Jones and Michael Woolhouse say firms with deep sector expertise and direct underwriting are reshaping the single‑asset continuation vehicle (CV) market. They argue that specialist managers can price assets more accurately and execute faster...
Bernhard Capital Partners’ Jeff Jenkins highlights that regulated utilities are becoming a fertile source for mid‑market carve‑outs as the sector seeks capital for grid upgrades. Stable, predictable cash flows and strong credit profiles make these assets attractive to private‑equity firms...
Hellman & Friedman CEO Patrick Healy says that even as distributions to limited partners remain sluggish, the firm can still close sizable sponsor exits. Healy highlights that strategic timing and asset positioning enable multi‑billion‑dollar exits despite a broader market slowdown....
The LBO debt market is freaking out. Here comes a $20B test of nerves https://t.co/MiXTnEB2pK
The latest smart‑building newsletter spotlights earnings season, where leading OEMs highlighted increased investment in technology and sustainability. It also details strategic partnerships, notably ReTech Advisors with Audette and Nemetschek Group with Ingram Micro, aimed at scaling decarbonization and digital AEC...
SAG-AFTRA executive director Duncan Crabtree‑Ireland told TheWrap the union is still evaluating Paramount Skydance’s acquisition of Warner Bros. Discovery and will issue a formal verdict when the timing is right. The union’s media and labor‑economics team has been crunching data on each offer...
Quantum Computing Inc. posted Q4 2025 revenue of $190,000, up from $62,000, while narrowing its net loss to $1.6 million versus a $51.2 million loss a year earlier. The company raised $1.55 billion in 2025, ending the year with $1.52 billion in cash and...
Canva announced that it will integrate its recent AI acquisition, Leonardo.AI, into the main platform without any layoffs. The company refuted media reports suggesting redundancies, stating that the 150‑person Leonardo team will be reassigned to existing AI initiatives or new...
Netflix Boss Ted Sarandos Speaks Out After Losing Warner Bros. Bid: Paramount Offers Were ‘Irrational,’ Relied on Political Pressure Because it’s ‘Cheaper to Make Noise’ https://t.co/lSMiTSgKnA
The latest Disney+ Q&A tackled how Paramount’s purchase of Warner Bros. Discovery could shift the streaming hierarchy, examined new UK regulatory pressures, and addressed subscriber curiosity about adding live local channels. Host insights highlighted potential strategic pivots for Disney+, including...
Ted Sarandos says Netflix knew it would pull out of the Warner Bros bidding as soon as it saw the final Paramount offer. We spent 40 minutes on Saturday discussing why Netflix didn’t match and what the Paramount deal means...
Hollywood’s top producers weighed in on the $110 billion Paramount‑Skydance acquisition of Warner Bros. Discovery during the PGA Awards. Jerry Bruckheimer highlighted potential job losses but praised David Ellison’s commitment to a high‑volume theatrical slate. Jason Blum called the deal an...
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Healthcare M&A activity moderated in 2025, dropping to 898 transactions after a pandemic‑driven surge. Despite fewer deals, the median transaction value jumped to $151 million, the highest in 25 years, while EV/EBITDA multiples held steady near 12.5×. Public‑market returns diverged, with...
Want to know why consolidation keeps happening? People within industries just don’t see problems with it. A lot of the major Hollywood players are fine with the Paramount merger. https://t.co/lWXZRyUNqb
Skyrora, a Glasgow‑based small‑satellite launch provider, announced a preliminary interest in acquiring select Orbex assets, including the Sutherland Spaceport, for up to £10 million. Orbex, the Inverness‑based micro‑launcher developer, entered administration after unsuccessful fundraising and merger attempts. The potential deal could...
InsideArbitrage’s March 2026 Special Situations newsletter warns of a continuing "Software Nuclear Winter" in the SaaS sector, describing deep valuation pressure and market disruption. The firm recently acquired SaaS company Navan (NAVN) and highlights another discounted SaaS opportunity, suggesting the...
Re-upping this. Monday is the last day of the current tender offer. Maybe I'll put out an English version, but it's in my Cui Bono piece on Smartkarma last week.
LSI Industries announced a definitive agreement to acquire Royston Group for $325 million in cash and stock, a deal it describes as transformational for its retail‑solutions platform. The acquisition adds five U.S. manufacturing sites, boosting capacity by roughly 40 % and expanding...
Netflix withdrew its bid to raise the offer for Warner Bros. Discovery, clearing the path for Paramount Skydance to acquire the studio. The move followed a 30% drop in Netflix’s share price after the initial announcement and a 14% rally...
Crypto treasury firms are poised to consolidate in 2026 as operating‑business players acquire distressed peers trading below net asset value. Companies that run validator services or issue tokenized credit generate cash flow, giving them a buying advantage. The 2025 market...
. @Travis_Jamison is sharing his story of doing 10 acquisitions in cash-flow-positive, profitable lower middle market businesses, with some deals projected to have an IRR of 25% or more. The best part: he is only getting started. These last 10 deals...
Youth sports is often portrayed as recession‑proof, yet costs have surged 46% while U.S. births fell about 15%, shrinking the entry pool. A modest 3% annual decline in new participants compounds to roughly a 30% reduction in the base cohort...
Paramount Skydance Corp. announced a $110 billion agreement to acquire Warner Bros. Discovery, offering $31 per share—a 10.05% premium. The transaction is financed by $47 billion in equity backed by the Ellison family and RedBird Capital, plus $54 billion of new debt from...
Too early to tell, although #DavidEllison made a commitment to keep the creative heads of both WB and Paramount as they are, so if he keeps his promise, nothing changes to the #DCU or #DCStudios at least on the short...
Tender offer potentially followed by liquidation - After a major asset sale, a tender is likely in the coming months - While not official, signs point to a full sale or wind-down - Co divested all non-core and half of core assets - Expected...
Hong Kong billionaire Li Ka‑shing's CK Infrastructure Group agreed to sell UK Power Networks to French utility Engie for £10.5 billion (about $14.2 billion). The deal, slated for mid‑2026, is part of a sweeping portfolio overhaul that includes potential divestments of ports and...
Expected a $KORE definitive agreement to be struck. Did not expect an 85% bump to the original $5/shr bid. Over 100% total return since Nov'25. Remaining spread to the $9.25/share bid is just ~3%. One of the most unexpected M&A outcomes I’ve...
Six Months, 9 Offers and $81 Billion. How Hollywood’s Nasty Takeover Was Won. W/@jtoonkel @laurenthomas @davidamichaels https://t.co/TFOmN7A5Zq
David Ellison is poised to acquire Warner Bros. Discovery after Netflix abandoned its bid, positioning the Ellison family as the leading suitor. The prospective takeover, tied to a pending Paramount‑Skydance merger, still requires regulatory clearance. Analysts warn that the deal could trigger...
Power, politics and a $2.8-billion payout: How Paramount's David Ellison topped Netflix to win Warner Bros. Discovery. @latimes https://t.co/6HgvA4tXeH
"In a world in which antitrust has become a political weapon, Paramount had the upper hand. Its reward means it will now have to combine two companies whose debt is junk-rated and find a media business model that works." https://t.co/Lx1hXs4Ijz...
Paramount has agreed to acquire Warner Bros Discovery for $31 per share, valuing the combined enterprise at roughly $110 billion including debt. The deal also covers Netflix’s $2.8 billion termination fee, clearing the rival’s exit from the bidding war. If regulators approve,...
Thai state‑owned energy group PTT Plc announced it will seek external partners across its value chain, aiming to sell stakes in its oil‑refining and petrochemical subsidiaries—Thai Oil, PTT Global Chemical and IRPC—to global investors. The company also plans to attract...
Corsair announced it will fully absorb Drop, closing the Drop.com storefront by March 31, 2026, with the final order deadline on March 25. The move follows Corsair’s 2023 acquisition of Drop, aimed at expanding its peripheral portfolio beyond core gaming keyboards and...
There is always a chance when government is involved, never rule this out. But I still see the odds in #Paramount’s favor for 2 reasons: 1- the Ellisons are one of the richest and most well connected families in the U.S. 2-...
We have a new record, folks. $PSKY's now friendly acquisition of $WBD comes with a $7 billion reverse break fee - the largest in history. https://t.co/GNoyWI0tl0
The rail industry is experiencing a wave of liquidity as infrastructure funds, insurance companies, and private‑equity firms pour billions into railcar and locomotive financing. Traditional tax‑leveraged leases are being replaced by long‑horizon passive capital and CDO‑structured debt, reshaping the capital...
"The Federal Communications Commission has given the go ahead for two of the US' biggest cable providers, Charter Communications and Cox Communications, to merge." via @engadget https://t.co/2GF4W9NFlt
‘David Ellison Scares the Shit Out of Me’: How Paramount Beat Out Netflix, Won Warner Bros. and Will Change Hollywood Forever https://t.co/Pt6DwlK7fc
Monroe Capital Corporation’s listed options will be adjusted following its proposed merger with Horizon Technology Finance Corporation. The OCC will change the option symbol from MRCC to HRZN1 and increase the contract multiplier from 1 to 100, meaning each contract...
Takes a global effort to tell one of the most incredible deal battles in modern history With @DanielThomasLDN @mroliverbarnes and Chris Grimes https://t.co/OfRP3RBlGV https://t.co/Wx8RaqAIv0
Warner says in SEC filing that 'The boards of directors of WBD and PSKY have unanimously approved the Merger Agreement...'
Waiting for Judge Andrews to make his $LQDA decision is like being the fat kid waiting to get picked only after the captains have picked everyone else first... https://t.co/LtzJmQ7O7t
Netflix Says Paramount Has Paid $2.8 Billion Breakup Fee for Warner Bros. Discovery Deal https://t.co/tPYGdECLW7
