Blackstone and Hellman & Friedman Explore AI Joint Venture with Anthropic
Blackstone and Hellman & Friedman are negotiating a joint venture with Anthropic to embed the startup’s generative‑AI technology across their private‑equity portfolios. The partnership would follow a Palantir‑style model that blends software licensing with consulting services to accelerate AI adoption in portfolio companies. Talks briefly stalled after Anthropic faced a U.S. government dispute over military‑use restrictions, though the Pentagon later signaled limited continued access for national‑security purposes. No definitive agreement has been reached yet.
More on the New CDIs on Cross Border Tender Offers
The SEC issued new CDIs 166.02 and 166.03 that broaden exemptions for cross‑border tender offers. CDI 166.02 allows offerors to buy target shares after announcing a tender but before distributing offering documents, provided the purchases are disclosed and may continue...
Brookfield Explores $1.3bn Acquisition of EQT and PAI-Backed World Freight Company
Brookfield Asset Management is exploring a $1.2‑$1.3 billion acquisition of World Freight Company and has begun informal talks with lenders about financing. World Freight, founded in 2004, runs air‑cargo sales and service agencies in about 80 countries, managing over three million...
Law Firm Marketplace Realities: Why Finding a Buyer Is Harder Than You Think
Finding a buyer for a small law firm is far more challenging than the industry narrative suggests. The market is immature, with most retiring boomers selling internally or to local competitors, while few listings appear on public platforms. Private‑equity interest...
The Partial Government Shutdown’s Impact on Deals
A partial U.S. government shutdown that began in mid‑February has left the Treasury and most CFIUS offices funded, but the Department of Homeland Security’s involvement remains halted. CFIUS statutory deadlines are tolled, meaning approvals can be delayed, especially for transactions...
InsideArbitrage Event Driven Monitor – March 11, 2026
Merger arbitrage activity intensified this week as Paramount’s $24 billion bid for Warner Bros. met criticism from Senator Warren over a pending national‑security review, while Udemy filed a definitive proxy and Eventbrite’s sale to Bending Spoons closed after 98 days. Activist investors...
This Week’s Deep-Value Landscape: Acquirer’s Multiple Large-Cap Screen
The latest Acquirer’s Multiple® Large‑Cap screen highlights a cluster of capital‑intensive cyclicals, discounted financials and mature global franchises that are trading at historically low acquisition multiples despite robust operating income, free cash flow and active shareholder returns. Valuations remain anchored...
SUMA Acquisition Corporation (SUMAU) Prices $150M IPO
SUMA Acquisition Corporation announced pricing of its $150 million initial public offering, with units slated to begin trading on Nasdaq under the ticker “SUMAU” on March 11, 2026. The SPAC will seek a merger with a technology company, either in a next‑generation or...
Carlyle Plans Structured Financing to Seed Flagship Carlyle Partners IX Fund
Carlyle is launching a structured financing vehicle, dubbed “Project Potomac,” to seed its upcoming Carlyle Partners IX fund. The vehicle will bundle senior debt, preferred shares and common equity, allowing investors in older funds to swap stakes for cash and equity exposure....
Eliot Kerlin and Broadwing: Principles over Playbooks
Eliot Kerlin, founder of Broadwing Capital, discussed the evolving lower‑middle‑market private‑equity landscape, highlighting larger fund sizes, higher purchase multiples, and greater equity contributions. He noted the rise of operational private equity, independent sponsors and family‑office capital, and the need for...
CVC Secures €3.7bn Financing for Global Sport Group Backed by KKR and Pimco
CVC has arranged a €3.7 billion financing package for its Global Sport Group, valuing the platform at about €7 billion. The deal combines €1.4 billion from KKR—partly via Global Atlantic—and €1.5 billion of debt from Pimco, with KKR eligible for up to €200 million of...
Morning SPAC News Roundup: March 10, 2026
The March 10, 2026 SPAC Insider roundup offers a curated snapshot of today’s special‑purpose acquisition company landscape, bundling headline stories, Intel‑related updates, and broader market movements. Access to the full content is gated behind a paid monthly subscription, underscoring the platform’s premium...
Bain Capital Secures $12.5bn Across Asia and Japan Buyout Funds
Bain Capital closed a $12.5 bn fundraising drive for its Asia and Japan buyout vehicles, completing the effort in roughly seven months. Senior management pledged more than $1 bn of personal capital, underscoring alignment with limited partners. The raise includes a $2 bn...
EQT Eyes $6bn Divestment of Linux Developer SUSE
Private equity firm EQT is exploring a potential divestiture of Linux‑software maker SUSE, aiming for a valuation near $6 billion. The firm has retained advisory shop Arma Partners to gauge interest from other private‑equity investors, though the process remains preliminary and...
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[Closed] John Wood Group
John Wood Group’s distressed merger arbitration has concluded with the acquisition finalized and a 30 pence per share payout slated within two weeks. The company’s shares were suspended on the FCA’s Official List and the London Stock Exchange, with a formal...
Top Private Equity News of the Week
Global Infrastructure Partners and EQT, backed by CalPERS and Qatar Investment Authority, have agreed to acquire AES Corp in an all‑cash deal valuing equity at $10.7 bn and enterprise value around $33.4 bn, offering shareholders $15 per share—a 40.3% premium. Meanwhile, Volkswagen’s...
M&A Monday: Non-Compete and Other Must-Have Restrictive Covenants
The article stresses that robust restrictive covenants—especially non‑competes—are essential in M&A transactions to safeguard a buyer’s investment. Sellers are typically bound for five years, with clauses covering family affiliates and tailored side‑ventures. Proper drafting, often in a separate agreement, ensures...
Calisa Acquisition Corp. (ALIS) to Combine with GoodVision AI in $180M Deal
Calisa Acquisition Corp., listed as ALIS, announced a definitive merger with GoodVision AI, an artificial‑intelligence‑driven computer‑vision company. The business combination values GoodVision at roughly $180 million, consisting of cash and stock consideration. After closing, GoodVision AI will become a publicly traded...
Plum Acquisition Corp. IV (PLMK) to Combine with Controlled Thermal Resources in $4.7Bn Deal
Plum Acquisition Corp. IV (PLMK) announced a definitive agreement to merge with Controlled Thermal Resources, a geothermal power developer, in a transaction valued at approximately $4.7 billion. The deal will result in PLMK becoming the public vehicle for Controlled Thermal, providing...
Advent Considers $4bn Divestment of Naval Defense Business Ultra Maritime
Advent is weighing a roughly $4 billion divestiture of Ultra Maritime, the naval‑defense arm that specializes in anti‑submarine warfare technologies such as sonar, sonobuoys and torpedo countermeasures. The private‑equity firm acquired the business through its purchases of Cobham and Ultra Electronics...
The SaaSpocalypse and Salesforce’s Massive Buyback – The Special Situations Report Episode 57
Episode 57 of the Special Situations Report podcast discusses four headline stories. Salesforce announced a $50 billion stock buyback, the largest ever for the company. The show also covers a bidding war for Reservoir Media, insider sales at Warner Bros. Discovery, and Elliott...
EQT Backs Launch of UK Tax Challenger WTS to Rival Big Four
Private equity firm EQT is injecting more than €500 million into the launch of WTS UK, a new tax advisory platform designed to challenge the Big Four in Britain. Led by former EY global law head Soar, the firm has already...
Blackstone Taps Citi for Potential $1bn ShyaHsin Packaging Sale
Blackstone has engaged Citi to explore a sale of ShyaHsin Packaging, targeting a valuation of at least $1 billion. The Taiwanese‑based manufacturer supplies containers and components for colour cosmetics, skincare and fragrance brands, operating factories in China and Mexico. Blackstone bought...
DNB Heads to Private Status After CelcomDigi and Maxis Buy MOF Shares
Digital Nasional Berhad (DNB), Malaysia's 5G wholesale operator, is set to become a fully private company after CelcomDigi and Maxis each exercised a put option to buy the 41.67% stake held by Minister of Finance Incorporated (MOF Inc). The transaction,...
A $2.5 Billion Commitment to Children with Cancer: Servier Acquires Day One Biopharmaceuticals
French pharma group Servier announced a definitive agreement to acquire Nasdaq‑listed Day One Biopharmaceuticals for $2.5 billion, paying $21.50 per share—a 68% premium to the prior close. The cash‑only transaction will be funded from Servier’s reserves and is slated to close...
Kuva Labs to Acquire Lisata Therapeutics in a $21.38 Million Deal
Kuva Labs Inc. announced a $21.38 million acquisition of Lisata Therapeutics, offering $5 in cash per share plus one contingent value right (CVR) per share. The cash price reflects a 19.62% premium to Lisata’s last closing price. The CVR triggers an...
Servier to Acquire Day One Biopharmaceuticals in a $2.5 Billion Cash Deal
France‑based Servier announced a $2.5 billion all‑cash acquisition of U.S. biotech Day One Biopharmaceuticals. The tender offer prices Day One shares at $21.50, a 68.23% premium, equating to 8.34 times the company’s sales. Servier will fund the transaction with existing cash and...
Whither 122(18)?
In late January, VC Zurn denied a temporary restraining order seeking to block the Fifth Third‑Comerica merger, rejecting the plaintiff’s claims under both Unocal fiduciary standards and Delaware General Corporation Law §141(a). The plaintiff contended that the merger’s “no‑shop” provisions violated...
Antitrust: Trump 2.0’s “Deal Friendly” Merger Review
The DOJ and FTC under the Trump‑era “Deal Friendly” approach have shifted toward expediting non‑problematic mergers, reviving early termination practices, and favoring structural remedies such as divestitures. In 2025, agencies filed 12 enforcement actions, with nine settled via consent orders,...
Top 3 SPAC Targets – Agriculture
The column revives its Top 3 SPAC Targets list, spotlighting Costa Group, Amber Wave and Better Beef as prime agricultural merger candidates. It ties renewed SPAC activity to shifting trade policies, notably the Supreme Court’s removal of Trump‑era tariffs, and...
The SCOTUS Tariff Decision as a Subsequent Event
The Supreme Court’s ruling in Learning Resources v. Trump is being classified as a non‑recognized (Type 2) subsequent event under ASC 855 for firms that imported goods subject to IEEPA tariffs and have not yet issued financial statements as of February 20, 2026. The...
New Broker Search CDI Will Facilitate Shareholder Approval of Deals
The SEC’s Corporate Finance Division issued a new Compliance Disclosure Interpretation (CDI) that relaxes the 20‑business‑day rule for broker searches ahead of shareholder meetings. The guidance lets companies set record dates earlier, giving them more flexibility when seeking shareholder approval...
The Pros and Cons of IPOs and SPAC Mergers
The article examines whether fast‑growing firms should go public via a traditional IPO or a SPAC merger, emphasizing the role of forward‑looking statements. SPAC deals historically allow more detailed projections, which can attract both sophisticated and unsophisticated investors. The SEC’s...
Royal Cup Coffee and Tea to Acquire Farmer Bros. For $89.62 Million in Cash
Royal Cup Coffee and Tea announced a cash acquisition of Farmer Bros. Co. for $89.62 million, paying $1.29 per share—a 13.42% discount to the prior close. The transaction values Farmer Bros. at roughly 16.66 times EBITDA. The deal, advised by North...
M&A Activism: What to Expect in 2026
M&A‑focused activist campaigns surged in late 2025 and are projected to intensify throughout 2026. Activists are zeroing in on cash‑rich small‑ and mid‑cap public companies, especially those overlooked by the AI boom but with solid fundamentals. They are increasingly partnering...
GalaxyEdge Acquisition Corporation (GLED.U) Prices $100M IPO
GalaxyEdge Acquisition Corporation announced pricing of its $100 million initial public offering, with units slated to begin trading on the NYSE under the ticker GLED.U on March 4, 2026. The SPAC, led by CEO Ping Zhang and a board that includes Qi Gong,...
Kensington Capital Acquisition Corp. VI (KCAC.U) Prices $200M IPO
Kensington Capital Acquisition Corp. VI priced a $200 million initial public offering and will begin trading on the NYSE under the ticker KCAC.U on March 4, 2026. The SPAC targets a high‑growth merger in automotive, defense, energy, or artificial‑intelligence sectors. Its sponsor team...
