Syneos Health Expands China Operations with Bestudy CRO Acquisition
Syneos Health completed the acquisition of Shanghai‑based Bestudy Medical Technology on March 20, 2026, adding a fast‑growing Chinese CRO to its global network. Financial terms were not disclosed, and Bestudy will continue operating independently under its own brand. The deal builds on Syneos’ 2023 $7.1 billion take‑private transaction, giving the firm flexibility to pursue long‑term growth in China’s expanding clinical‑trial ecosystem. It also extends Syneos’ earlier partnership with Wuhan Union Hospital, deepening its reach with multinational pharma and emerging Chinese biotech firms.
Mutual Benefit: How Private Equity Is Supplying Capital to US Mutuals
Private‑equity firms are increasingly channeling capital into U.S. mutual insurers, addressing longstanding funding gaps and technology shortfalls. In the past year, roughly $1.2 billion of preferred equity and mezzanine financing has been deployed across 12 mutual carriers. The capital is earmarked...
Dash0 Acquires Lumigo to Expand Agentic Observability Across AWS and Serverless
Dash0 announced the acquisition of Lumigo, a leading AWS‑native and serverless observability provider, to broaden its OpenTelemetry‑first platform. The deal adds deep Lambda expertise, LLM visibility, and AI‑driven operations capabilities, while integrating Lumigo’s Tel Aviv team. Combined, the firms will serve...
Urbania Acquires Binge Audio to Bridge Podcasts and TV
Montreal‑based media company Urbania announced the acquisition of Binge Audio, the independent French‑language podcast network known for hits such as "Les Couilles sur la table" and "Programme B." The deal gives Urbania a portfolio of popular podcasts with an estimated...
Palm Primary Care Expands in Tarrant County with Acquisition of Two Clinics in Azle
Palm Primary Care, backed by MBF Healthcare Partners II, has acquired two primary‑care clinics in Azle, Texas, expanding its Texas network to nine locations across Tarrant and Dallas counties. The two sites, Azle Central and Azle Parkway, will continue operating...
Heritage Global: A Distressed Asset Platform Trading at 5x EV/EBIT and Near Liquidation Value
Heritage Global Inc. (NASDAQ:HGBL) operates a multi‑segment distressed‑asset platform that trades at less than 70% of book value and roughly 5.5 × EV/EBIT, placing it near liquidation pricing. The San Diego‑based firm has posted profits every year since 2018 and exhibits counter‑cyclical...
Harris Health Alliance Acquires eRedbook to Enhance Digital Child Health Across the NHS
Harris Health Alliance (HHA) completed an asset purchase of eRedbook from Heathersoft, adding the UK’s most established digital parent‑held child health record to its portfolio. eRedbook captures health and development data from birth to age five, linking parents with NHS...
Cencora to Expand Retina Consultants of America Through Acquisition of EyeSouth Partners’ Retina Business
Cencora, Inc. announced a definitive agreement to acquire EyeSouth Partners’ retina business for $1.1 billion, integrating the physicians into its Retina Consultants of America (RCA) network. The acquisition is expected to be slightly accretive to adjusted diluted EPS within the first...
Mike Barker: How a 90-Day Pause Added $12 Million to the Sale
Mike Barker, CEO of House of Cheatham, paused the sale process for 90 days to shore up the company’s financial and operational profile before accepting a private‑equity offer. During the pause he produced a quality‑of‑earnings report, commissioned an environmental study,...
Spreadsheets for M&A: When Excel Breaks & What to Use Instead
Excel remains the default tool for corporate development teams to track M&A pipelines because it requires no onboarding and offers immediate flexibility. However, as deal volume and team size grow, spreadsheets suffer from version‑control chaos, fragmented deal context, and collaboration...
Premerger Notification Office Accepting Old HSR Form Again
A Fifth Circuit panel denied the FTC’s request for a stay, activating a district court ruling that vacates the 2024 HSR filing form. As a result, the FTC’s Premerger Notification Office will again accept the pre‑February 10 2025 HSR form, though filers...
Dealflow.es #505: Bluetile Gaming Studio Acquired for $100M+. Freepik's Journey.
Indian gaming leader Nazara Technologies announced the acquisition of a 50% stake in Barcelona‑based Bluetile Bestplay for roughly $100 million. Bluetile, founded in 2019, boasts over 350 million lifetime installs and generates more than $150 million in annual revenue from its social casino...
Fourth Mobile Network in Germany: 1&1 Denies Sale Rumors and Focuses on Expansion
Ralph Dommermuth, CEO of United Internet and 1&1, dismissed rumors of a sale to Telefónica, confirming the firm’s commitment to its own fourth mobile network in Germany. By the end of 2025 the network reached roughly 27 percent of households, with...
AEW Owner Tony Khan Put in Bid to Purchase WWE
In 2023 WWE was sold to Endeavor for $9.3 billion, creating the TKO holding company that now combines WWE with UFC. During the sale process several parties submitted cash bids, including AE & E owner Tony Khan’s Base 10 vehicle, which offered $76.83 per...
Should We Raise Capital?
Chenmark’s founders reflect on why they never took a $20 million external fund between 2015 and 2019, opting instead to bootstrap their hold‑co model. The lack of capital forced disciplined cash‑flow reinvestment, lean talent acquisition and a culture of shared risk....
AGM Alts & Wealth Weekly News Roundup | 3.20.26
The AGM Collective announced the launch of its AGM Community, an advisory board of RIA executives, and its first RIA field trip in New York for May 19‑20. Across the private‑markets landscape, asset managers are pivoting toward high‑net‑worth (HNW) households,...
Pharma M&A Roundup: Novartis to Acquire Pan-Mutant-Selective PI3Kα Inhibitor From Synnovation Therapeutics, Collegium to Acquire Azstarys From Corium Therapeutics
Novartis announced a deal worth up to $3 billion to acquire SNV4818, a pan‑mutant‑selective PI3Kα inhibitor aimed at hormone‑receptor‑positive, HER2‑negative breast cancer. The transaction includes $2 billion upfront and potential milestones exceeding $1 billion, with closing expected in early 2026. Collegium Pharmaceutical agreed...
Podcast: Building the Defense Backbone: Precision Aerospace & Defense and FACT II (FACT)
Precision Aerospace & Defense Group and FACT II Acquisition Corp announced a $310 million business combination, turning the defense‑supplier roll‑up into a publicly traded entity via a SPAC. The deal, disclosed in December, positions Precision to build an EBITDA‑positive network of critical...
Sale of Business Non-Competes: The Forfeiture for Competition Alternative
Mayer Brown’s March 2026 memo urges acquirers to replace traditional non‑compete covenants with forfeiture‑for‑competition (FFC) clauses after Delaware courts increasingly invalidate non‑competes on reasonableness grounds. An FFC ties a supplemental cash benefit to the seller’s agreement not to compete, and because...
Huge M&A Deals: Netflix’s Acquisition of AI Film-Tech Company InterPositive
In early March 2026 Netflix announced a landmark acquisition of InterPositive, an AI‑driven filmmaking startup founded by Ben Affleck, for up to $600 million, largely cash with earn‑out provisions. The deal gives Netflix immediate access to tools that can correct lighting,...
Rollover Equity: A Business Owner’s Guide to Negotiating Terms and Maximizing Exit Outcomes
Rollover equity lets sellers reinvest part of their sale proceeds into the acquiring entity, giving them a minority stake and a potential "second bite of the apple" when the business is later sold. Private equity firms use it to reduce...
Adenia Partners Fund Reaches $180m Hard Cap
Adenia Partners announced the first close of its Adenia Entrepreneurial Fund I at a hard cap of $180 million, surpassing the original $150 million target in under a year. The fund targets control investments in small and lower mid‑cap African companies, the...
InsideArbitrage Event Driven Monitor – March 19, 2026
The March 19 InsideArbitrage Event Driven Monitor highlighted several high‑profile merger‑arbitrage moves, including SunOpta’s April 16 shareholder meeting following an Ontario court order and Saltchuk’s cash tender offer for Great Lakes Dredge’s 5.25% senior notes due 2029. The Department of...
Synergie Acquires Majority Stake in Agilus Work Solution
Synergie has closed the acquisition of a majority stake in Agilus Work Solutions, Canada’s eighth‑largest staffing provider. Agilus, which reported roughly CAD 300 million in 2025 revenue across 14 branches, specializes in temporary and permanent staffing for technical, engineering, IT and natural‑resource...
DExit Proposals: The IR Side of the Equation
The article highlights investor‑relations (IR) factors that boards must weigh when considering a Delaware exit (DExit) and reincorporation elsewhere. It stresses candidly assessing current shareholder relationships, starting the evaluation early, and avoiding surprises through proactive engagement. Companies should conduct a...
Rollover Equity: Considerations for a Seller
John Jenkins highlights key considerations for sellers contemplating equity rollovers in M&A transactions. The blog stresses that call options embedded in buyer agreements can allow the acquirer to repurchase the seller’s rolled‑over stake, often at below‑market prices and over extended...
How to Properly Size Investment Positions
The article explains how investors can boost risk‑adjusted returns by properly sizing positions rather than merely finding ideas. It introduces a simple upside‑to‑downside framework, illustrates it with PayPal and Perimeter Solutions, and ties the ratio to a practical allocation rule...
Fund Analysis: Glade Brook Capital Partners
Glade Brook Capital Partners announced the closing of its Gondola Fund at over $1 billion in March 2026, marking the firm’s largest publicly disclosed vehicle to date. A concurrent Form D filing for Strategic Growth V LP on February 5, 2026 showed zero commitments, so...
New SPAC: AmperCap Acquisition Company (APMCU) Files for $125M IPO
AmperCap Acquisition Company (ticker APMCU) filed its S‑1 to launch a $125 million special purpose acquisition company IPO. The filing, submitted on March 18, 2026, positions AmperCap among the latest wave of SPACs seeking to capitalize on renewed investor appetite. The...
Top 3 SPAC Targets – Alternative Fuels
The SPAC market is reviving as oil prices stay near $100 and geopolitical tensions keep supply tight, creating a sweet spot for alternative‑fuel producers. Renewable natural gas, ethanol and renewable diesel firms can charge commodity‑level prices while offering domestic, low‑carbon...
Private Capital Advisory: “M&A Lite” Or the Highest-Growth Area in Investment Banking?
Private Capital Advisory (PCA) groups, which specialize in secondary transactions for limited partners and continuation funds for general partners, have become one of the fastest‑growing segments of investment banking. Deal volume in private‑equity secondaries has risen about 20% CAGR from...
Activist That Encouraged Merger Only To Change Its Mind Denied “Extraordinary Remedy” Of A Deal Injunction
The Delaware Court of Chancery rejected HoldCo’s request for an injunction to block Comerica’s merger with Fifth Third, finding the deal‑protection provisions lawful and not coercive. HoldCo, which had initially championed the transaction, could not demonstrate a colorable claim or irreparable...
SPAC Fallout, Accrual Battles, and the Long Tail of De-SPAC Risk
The Delaware Supreme Court affirmed the Delaware Chancery Court’s ruling that the standard three‑year statute of limitations applies to fiduciary‑duty claims arising from de‑SPAC transactions. The court applied Delaware’s long‑standing occurrence rule, holding that the limitations clock starts when the...
Special Committees: A Guide for the Perplexed
Debevoise released a practical guide on special committees in conflict transactions, detailing when to form them, member selection, and operational protocols. A key focus is the appointment of legal and financial advisors, emphasizing that the committee—not the company—must independently choose...
IB Acquisition Corp. (IBAC) to Combine with GNQ Insilico in $552M Deal
IB Acquisition Corp. (IBAC) announced a definitive merger with GNQ Insilico, an AI‑driven drug discovery platform, in a transaction valued at approximately $552 million. The SPAC will combine its public listing with GNQ’s proprietary synthetic biology technology, providing the biotech firm...
Morning SPAC News Roundup: March 17, 2026
The March 17, 2026 SPAC News Roundup highlights a resurgence in special‑purpose acquisition company activity, with Q1 IPO volume climbing 12% year‑over‑year. New SEC guidance on de‑SPAC disclosures is reshaping transaction structures, while tech‑centric targets continue to dominate recent merger announcements. Investor...
Navigating Insider Conflicts: A Delaware and Nevada Playbook
Cooley’s latest memo delivers a concise playbook for handling insider‑conflict transactions under Delaware and Nevada corporate law. Targeted at companies approaching or completing an IPO, the guide stresses that rigorous process and transparent disclosure outweigh post‑hoc legal defenses. It outlines...
New Providence Acquisition Corp. III (NPACU) to Combine with Abra in $846M Deal
New Providence Acquisition Corp. III (NPACU) announced a definitive agreement to combine with Abra, a digital‑asset platform, in a transaction valued at approximately $846 million. The merger will deliver roughly $200 million of SPAC cash proceeds to Abra and list the combined...
Apollo Emerges Frontrunner for Syntegon Stake in €4bn Deal with CVC
Apollo Global Management has become the leading bidder for a stake in Syntegon, a packaging‑machinery specialist serving pharmaceutical and food markets. The potential transaction is valued at roughly €4 billion, following CVC Capital Partners' 2019 acquisition of Syntegon for about $1 billion....
CPPIB Explores $1.5bn Sale of Asia Private Equity Fund Stakes
The Canada Pension Plan Investment Board (CPPIB) is weighing a $1.5 billion sale of its Asian private‑equity fund stakes, including holdings in Hillhouse Investment, Bain Capital and PAG. Private‑equity assets total C$225.4 billion, roughly 25% of CPPIB’s C$780.8 billion portfolio, prompting the board...
Air Lease Merger This Year Creates New Lessor Powerhouse
Air Lease Corporation will be acquired for $7.4 billion by a consortium including Sumitomo, SMBC Aviation Capital, Apollo and Brookfield, and will be rebranded as Sumisho Air Lease Corp (SALC) in early 2026. Class A shareholders receive $65 cash per share. SMBC...
Deal Lawyers Download Podcast – Mike O’Bryan on M&A Trends for 2026
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...
PE Exit Markets Reopen with IPO Surge:
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,...
Agero to Acquire Urgent.ly in a $156 Million Cash Deal
Agero Inc. announced a cash acquisition of Urgent.ly Inc. for $155.92 million, offering $5.5 per share—a 170.94% premium to the prior close. The tender offer, backed by Agero’s wholly‑owned subsidiary, targets all outstanding Urgent.ly shares and is slated to close by...
‘Time-Is-of-the-Essence’ Clauses in Private M&A Agreements
The Delaware Supreme Court’s *Thompson Street Capital* ruling applied the equitable doctrine “common law abhors a forfeiture” to a seller’s failure to meet notice‑of‑claims deadlines in a private‑company merger. In response, researchers found that roughly 20% of 4,200 examined private...
7 Reasons Organizations Merge with or Acquire Other Firms
The article outlines seven common reasons companies pursue mergers or acquisitions, emphasizing growth as the overarching motive. It cites a 2020 survey where 34 % of firms prioritized growth, and notes that cross‑border deals reached nearly $500 billion in 2019. The piece...
Warburg Pincus Explores Sale or Partnership for Southeast Asian Insurer Oona
Warburg Pincus is working with Citigroup to explore a sale or strategic partnership for Oona, its Southeast Asian digital insurer. The potential deal could value Oona at several hundred million dollars, though discussions are still early and may not materialise....
Quetta Acquisition Corp. (QETA) to Combine with Smart Kreate Group in $200M Deal
Quetta Acquisition Corp. (QETA), a publicly listed special purpose acquisition company, announced a definitive business combination with Smart Kreate Group, a technology‑driven creative solutions firm. The transaction values Smart Kreate at approximately $200 million, with Quetta contributing roughly $100 million from its...
I Squared Capital Nears $10bn for Flagship Infrastructure Fund Amid Sector Boom
I Squared Capital is close to securing roughly $10 billion for its flagship infrastructure fund, representing about two‑thirds of its $15 billion target as the first closing approaches. The fundraising surge mirrors a broader surge in private‑equity‑driven infrastructure capital, with global funds...
