M&A

20th June 2025

• KKR and Singapore SWF GIC are among final bidders for a 40% stake in a $11.5B valued fiber-optic broadband network JV owned by European telecom MasOrange and Zegona Communications-owned Vodafone Spain. Financial Times

• Ascension Health agreed to acquire ambulatory surgery company AmSurg for $3.9B. Financial Times

• Canadian midstream giant Keyera Corp. agreed to buy Plains All American Pipeline's Canadian natural gas liquids business and some US assets for $3.77B cash. CNN

• UK lender NatWest is the most likely buyer of Spanish lender Sabadell's UK unit TSB, which could fetch ~$3.5B. CBNC 

• KPS Capital Partners ended talks with Warburg Pincus on a joint bid for $1.7B-listed German pharma packaging firm Gerresheimer. CBNC 

• Eli Lilly agreed to acquire gene-editing biotech Verve Therapeutics for $1.3B, a 115% premium. CNN

• European alternative asset manager Tikehau Capital agreed to buy ruggedized displays provider ScioTeq from PE firm OpenGateCapital. CNN

• Smith & Wesson missed Q4 earnings and revenue estimates as waning firearm demand, inflation, tariffs, and high rates continued to weigh. WSJ

• Nippon Steel Finalizes $14.1B US Steel Acquisition, Concluding 18-Month Takeover Battle. WSJ

• Guggenheim CEO Mark Walter to Acquire Controlling Stake in LA Lakers at $10B Valuation. CBNC 

• Home Depot, QXO Vie for GMS in Bidding War; QXO Tables $5B Cash Offer at 27% Premium. CNN 

• Santander and Barclays Weigh Separate Bids for UK’s TSB, Valued Around $3.5B. CBNC 

• France Injects $1.5B into Eutelsat, Doubling Stake to Bolster Rivalry Against Starlink. CBNC