T‑Mobile, TPG Team up to Bid for Uniti Group
Hearing on $UNIT -- T-Mobile and TPG are partnering on a bid to acquire Uniti Group [NASDAQ: UNIT], according to sources. TMT FINANCE
26North Buys Intermedia, Securing AI-Driven Cloud Scale
26North to Acquire Leading Cloud Communications Firm Intermedia The acquisition agreement between 26North Partners LP and Intermedia Intelligent Communications might look like another private equity move in a crowded communications market, but the dynamics here run deeper. For one, Intermedia has...
Close Deals Thursday Afternoon for Smooth Implementation
Founders: The best close timing is Thursday afternoon. Friday deals risk weekend second thoughts. Monday deals compete with weekly firefighting. Thursday gives you time to handle paperwork and kick off implementation before the weekend.
Sysco's Pending Restaurant Depot Deal Sparks Industry Debate
Some additional thoughts on the Sysco acquisition of Restaurant Depot (which still needs to get regulatory approval.) Here's a short thread but I'm curious what people in the #restaurant industry think about this deal? 1/10
BAT Converts Debt to Equity, Now Holds 40% of CWEB
$MSOS @thestreetpro Apropos to the possibility of takeover optionality in cannabis stocks mentioned in my previous post: https://t.co/PAAYQbNLtA In the first real precedent of tobacco companies taking an equity stake in cannabis - $BAT has elected to convert its debenture into...
NFX Fuels $1.25B Q1 Growth Across Sectors
It was a very busy Q1 2026 for many companies in the @NFX portfolio 🚀 Across AI infrastructure, space, security, tech bio, fintech, and consumer — we’ve seen a wave of financings + M&A from companies where we led the seed...
Cuban Regrets Buyer, Not Selling Mavericks
.@mcuban on the Mavs sale: "I don't regret selling. I regret who I sold to." https://t.co/4psTnhP8a4
Bankers Demand 3:1 Debt‑equity, You Fund 25%
“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
Deal Cash Exceeds McCormick’s $14.2B Market Cap
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
Eli Lilly Acquires Centessa for $7.8B in Neuro Push
Lilly buying $CNTA Centessa (hub & spoke R&D co) for $6.3B + $1.5B CVR. Another neuro deal. Big congrats to @Medicxi, Index ventures, General Atlantic https://t.co/jkC9dv6d3I @medicx
BoyarValue Predicts Hagedorn Likely to Sell SMG
@BoyarValue talking $SMG on @TheCompoundNews: "You have a 70 year old guy [Jim Hagedorn] who has to be exhausted; the last couple of years have been an absolute disaster. My guess: he's probably going to sell this thing." https://t.co/JuqeMjNda2
Biogen Buys Apellis for $5.6B, Adds SYFOVRE Sales‑linked CVR
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...
Private Capital Disappointment Era Starts, Insurance Intrigue, Decision 2.0
In today’s @FT Due Diligence newsletter: Private capitals disappointment era begins. an insurance intrigue, and The Decision 2.0. https://t.co/I1NYRv0vZ4 https://t.co/3VhyHDtFkB
KZR Acquisition Offers Modest 12% Premium, CVR Overvalued
$KZR gets bought out at $6.955/share in cash + CVR. As noted, at $6.20/share, the upside was limited, so a ~12% premium to that level + CVR is a better outcome for shareholders than I expected. As to the CVR play, it...
Three Hidden Deal Factors Could Derail Sunway Before Deadline
Everyone is watching whether Sunway extends the April 6 closing date. That is the wrong thing to watch. There are three things sitting quietly in this deal that nobody is talking about — and one of them could end the entire conversation...
Japanese Cross‑shareholdings Shield Incumbents, Hurt Shareholders
Shareholders are supreme under Japanese corporate law, but shareholders' economic interests are not. What is the distinction? Japan is (in)famous for its webs of cross-shareholdings. Suppliers, customers, financial institutions own shares in each other, and always support incumbent management with their...
Allbirds' Valuation Plummets From $4B to $39M
Allbirds just sold for $39 million. The company was once worth over $4 billion. https://t.co/KqbYOf0TBg
Organigram's Sanity Deal Boosts EU Reach, Buy Pullback
Macro: Organigram acquires Sanity, expands into EU; Key: 93% vote, BAT financing, 68.6% LTM rev, positive EBITDA; Risks: closing risks, earnout; Trade: buy on pullback — Viktor Kopylov, PhD, CFA. More insights: t.me/si14Kopylov
Even Legacy Founders Eventually Cash Out
Sysco just acquired Restaurant Depot from its 94 year old founder for $29B. Every founder will eventually exit their business at some point.
TWO Bids Heat Up: Cash Offers Near $10.80
Bidding for $TWO may not be over. The company recently received a revised $10.80/share all-cash offer from CrossCountry, with the stock now trading slightly above that level. The original all-stock bid from $UWMC was closer to $12/share before the broader market sell-off...
16% of EasyPost Slated for Auction Amid Merger
16% of EasyPost going up for auction on April 22 according to a LI post from Ben Emmrich of Tusk Logistics. EasyPost is part of Auctane which was acquired by Thoma Romo and now in process of combining it with...
Regulators Let Private Equity Snap Up Failed Banks
Trump bank regulators are ensuring that private equity firms can buy failed banks in a banking crisis. https://t.co/y7N6wWEt7w
Crocs CEO Confident HeyDude Will Grow Despite Wrinkles
Crocs CEO Andrew Rees, July 2023: "We have absolutely no regrets on the acquisition...We’re very confident about HeyDude’s future, but we have a few wrinkles to work through over the next six months... We are very confident HeyDude will grow...
M&A Spreads Surge, PRTH Hits 29% without News
M&A spreads are just blowing up! $PRTH is spread now at 29%, with no news whatsoever beyond the general market sell-off.
Sony Nears $1B Sale of Home Entertainment to TCL
"Sony is nearing an agreement to sell a majority stake in its home entertainment business to TCL in a deal that may be valued at about $1 billion... with Sony holding 49% and TCL holding 51%."
Sysco Moves Into Cash‑and‑carry with Restaurant Depot Acquisition
Big news as @Sysco announces the acquisition of Restaurant Depot. While broadline has done well, cash-n-carry distribution continues to do well & this gets Sysco into a segment that it has historically avoided. This is from last year but growth is...
Insiders Acquire Firm at 18% Premium in Privatization
Privatization with a wide ~18% spread. Insiders with majority control are buying out the company’s operations at a price slightly above its cash value. https://t.co/Pesdx9I3wK
CFOs Must Plan Their Exit Before M&A Closes
Congrats, a sale is imminent. While it ain't real until the check clears, as Mozart used to say, let's talk about what happens to you personally when the deal goes through. In 8 out of 10 acquisitions, the CFO gets...
Sysco to Acquire Restaurant Depot for $29 B
SCOOP: Sysco, the biggest U.S. food distributor, is buying family-owned Restaurant Depot for roughly $29 billion. $SYY https://t.co/DfxkDBnv1V
FORA's Stellar Year Suggests Bid Should Rise
$FORA just recorded outstanding end-of-year results. Revenue in Q4 was up 37% YoY. Full-year revenue grew 50%, with EBITDA increasing 70%. Management is clearly lowballing, and the bid should be increased. Discussions with the special committee are still ongoing.
Government Funds Reject Sunway Bid, Deal Unlikely
EPF’s abstention was a signal. Formal rejection is a verdict. The investment committee has turned down Sunway’s RM3.15 offer. Says the offer does not reflect IJM’s intrinsic value. EPF holding 20.52%, PNB at 13.3% already rejecting, together with other government-linked funds owning...
Versant Eyes Acquisition of Vox Media's Podcast Unit
Galloway and Swisher on MSNow? Please, no. Versant Pursues a Deal for Vox Media’s Podcast Business https://t.co/ttTyJjAqXk
Nuclear Sector Emerges as New M&A Hotspot for Industrials
No great insight here, but seems like nuclear is rivaling aerospace as the new favored hunting ground for industrials looking to acquire niche, critical suppliers, examples being Crane acquiring Reuter-Stokes, & Enpro mentioning it as a focus.
Vertical AI Deals Surge Silently Across Industries
4 AI acquisitions. 4 industries. 48 hours. None made the front page. Legal tech. Construction. Finance. Edge computing. The quiet consolidation of vertical AI is moving faster than the headlines suggest. Do you know what your competitors just acquired?
Musk Proposes Zuckerberg Join OpenAI Bidding
Elon Musk reportedly asked Mark Zuckerberg in 2025 if he was: “open to the idea of bidding on OpenAI with me and some others?”
Seattle Sports Empire Potentially Up for Sale
Is there a Twofer Afoot? 🏈🏀 For Sale: A Seattle Sports Empire? https://t.co/f2DJxWfE1i via @sportico @novy_williams
AI-Driven Lettings Roll‑up Scales with $93M Fundraise
. @DanLifshits, co-founder of Dwelly, explains how he and his partners are building an AI-enabled roll-up in the UK lettings market by acquiring independent agencies and modernizing them with software. After completing 9 acquisitions in just 24 months, Dwelly recently announced...
Zuckerberg’s VR Obsession Cost Him AI Leadership.
Subtext: how Zuck’s obsession with VR lost him AI leadership and “the greatest deal Google ever made.” “if Facebook didn’t buy DeepMind, they would end up in the arms of Google. Hassabis came out to the West Coast to have lunch...
Google Bought DeepMind for Under AI Pre‑seed Valuation
Still wild that Google acquired DeepMind for less than an AI Pre-Seed valuation in 2026
Larry Ellison's Net Worth Halves Amid Warner Bid
The collapse of Larry Ellison's net worth since the start of Warner bidding is something. It has fallen by more than half, and is down $60 billion this year alone. He's worth 'just' $188 billion. He's highly leveraged. https://t.co/NBLRzGFr91
LVMH Balances Cycles by Pairing Stable Spirits with Fashion
$LVMH laid out the strategy driving their acquisitions in 2002 Holding so many different luxury goods businesses would help to balance the cyclicality of each category. “Wines and spirits are stable businesses with long cycles” versus luxury fashion and ready-to-wear...
EPF Abstains, Handing RM11b Deal to Minority Shareholders
The single largest shareholder in IJM just refused to vote on a RM3.15 per share takeover bid worth RM11b in total. That silence is not neutral — it is doing something specific. (Abstentions in public M&A rarely mean “no opinion.”) EPF, IJM’s...
From Family Office Advisor to Founder: Raising $25M
An important reminder if you work for a family office or just a HNWI and you've done a wonderful job allocating their capital across various asset classes: fixed income, real estate, public equities, PE, venture capital, private credit, commodities, and traditional...
Merz Urges German Stake in Franco‑German Tank Maker
Merz signals Germany to take a stake in Franco-German tank maker https://t.co/aJxacfF0qI via @mcnienaber https://t.co/EwSEZpT2IP
Consumer M&A Surge Sparks New Coverage Focus
Programming note: I'm adding consumer/retail M&A to my beat while continuing to cover deals across sectors including health, media and telecom. Here's my take on the recent boom in consumer deals: https://t.co/QONxOmUWe1
Clarke Acquires Ravelin REIT for $1.1B, Adds
#Canadian bacon saved as #Clarke, a co that operates ferries on the #StLawrence buys out struggling #REIT #Ravelin in deal that values REIT at $1.1B+adds 6.3MSF NA+#European offices to Clarke's portfolio. #realestate #CRE #mortgage #TSE https://t.co/O403vkrbXu
From Billion‑Dollar Deals to Billion‑Dollar Turnarounds
IB at Goldman Sachs. PE at TPG. Then he pitched a $1B restaurant buyout at Paulson — now he’s fixing another $1B mess.
Cricket Team Sale Delivers Strong Returns for Murdoch, RedBird
Cricket Team Sale Yields ROI for Investors, Including Lachlan Murdoch and RedBird Capital 🏏 https://t.co/hpOJwHSbxC via @sportico @LuisaRBeltran
SpaceX and Tesla Set to Merge, Become “X”
Prediction: SpaceX and Tesla merge within the next 12 months @CCM_Ryan thinks it will be renamed to "X"
Megabanks Still Free to Acquire Solvent Banks Under Deposit Rule
I forget that there are still megabanks who aren't yet barred from this kind of M&A (banks can't buy another solvent bank if they already control at least 10% of national deposits)