Mergers and Acquisitions

Synopsys, a U.S. headquartered global leader in electronic design automation and semiconductor IP, in its pending $35 billion acquisition of U.S. headquartered Ansys, a simulation software developer.

F2i, Italy’s largest independent infrastructure fund manager, in its €22 billion co-investment with KKR and the Italian government, for the acquisition of telecommunications company, TIM, Telecom Italia’s fixed network.

Sixth Street in its $13 billion strategic partnership with Northwestern Mutual, a U.S. financial services mutual organization.

Eni in its €9 billion cross-border merger of Subsea7, a multinational service company engaged in subsea engineering and construction serving the offshore energy industry, into Saipem, a global leader in engineering services.

The Walt Disney Company in the $8.5 billion merger of Star India with Viacom18 to form a new strategic joint venture with Reliance Industries Limited, India’s largest private sector company.

Sixth Street in its $7.1 billion take-private of ESR Group Ltd, one of Asia-Pacific’s leading real asset managers, as part of a consortium with Starwood Capital Group, and SSW Partners, which also includes QIA, Warburg Pincus, and certain founders of ESR—the largest privatization from the HKSE since 2021.

Temasek, alongside Brookfield, in its €6.1 billion take-private of Neoen, a leading independent global renewable energy producer headquartered in France.

Vivendi SE on its multi-billion global spin-off of Canal+, Havas, and Louis Hachette Group; Canal+ in its £2.9 billion listing on the London Stock Exchange; Havas in its €1.8 billion listing on Euronext Amsterdam; and Louis Hachette Group in its €1.2 billion listing on Euronext Growth.

F2i and Ardian in the €5.3 billion sale of gas distribution group 2i Rete Gas to Italgas.

Sixth Street in its $5.1 billion acquisition of Enstar Group Limited, a leading global insurance group headquartered in Bermuda.

T-Mobile, a U.S. mobile network carrier, in its pending $4.4 billion acquisition of UScellular’s wireless operations and select spectrum assets.

Solventum, a U.S. health care company spun off from 3M, in its $4.1 billion sale of its purification and filtration business to Thermo Fisher Scientific Inc., a U.S. life, science, and clinical research company.

Advent International in the £3.8 billion recommended cash offer for Spectris plc, a high-quality precision measurement, instrumentation, and testing company.

OCI N.V., a Dutch global producer and distributor of natural gas-based fertilizers and industrial chemicals, in its $3.6 billion strategic sale of its entire equity stake (50% plus one share) in Fertiglobe to the Abu Dhabi National Oil Company (ADNOC).

Alimentation Couche-Tard, a Canadian headquartered global leader in convenience and fuel retail, in its €3.1 billion acquisition of TotalEnergies’ retail assets in Germany, the Netherlands, Belgium, and Luxembourg.

Blackstone Life Sciences and Novo Holdings A/S in the $3.1 billion sale of Anthos Therapeutics, a U.S. clinical-stage biopharmaceutical company, to Novartis AG, a Swiss multinational pharmaceutical corporation.

Roquette, a French family-owned global leader in plant-based ingredients and a leading provider of pharmaceutical excipients, in its $2.85 billion acquisition of the Pharma Solutions segment of U.S. headquartered International Flavors & Fragrances Inc., an industry leader in food, beverage, health, and biosciences.

Warburg Pincus in its $2.16 billion sale of Sundyne to Honeywell International.

General Mills, a leading American producer of packaged consumer foods, in its $2.1 billion sale of its U.S. and Canada yogurt businesses, to Lactalis, a French multinational dairy products group, and Groupe Sodiaal, France’s largest dairy cooperative.

GSK, a UK headquartered global biopharma company, in its up to $2 billion acquisition of Boston Pharmaceuticals’ lead asset efimosfermin alfa.

Lenovo, a Chinese multinational technology company, in its $2 billion strategic collaboration with Alat, a wholly owned subsidiary of the PIF, established to create a global business in electronics and advanced industrials, in the Middle East and Africa region.

SpartanNash, a U.S. food solutions company, in its $1.77 billion sale to C&S Wholesale Grocers LLC, an industry leader in supply chain solutions and wholesale grocery supply in the U.S.

Banque Degroof Petercam SA/NV (BDP), a leading Belgian independent private bank, in its €1.59 billion sale to CA Indosuez, an entity of the Credit Agricole group.

DCC plc in its £1.05 billion sale of DCC Healthcare to HealthCo Investment Limited.

Warburg Pincus, alongside Vista Equity Partners on its acquisition of Redwood Software, a leader in full stack automation fabric solutions to manage IT business processes across applications, from Turn/River Capital.