DHL – Evri
The UK's Competition and Markets Authority has cleared DHL eCommerce U.K.'s acquisition by Evri, alongside DHL Group acquiring a minority stake in Evri. After an initial probe, regulators concluded the deal posed no major competition risks. This approval removes a key hurdle for the consolidation of two major logistics players in the UK, reinforcing DHL's e-commerce logistics footprint.
Mr. Cooper – Rocket Companies
Shareholders of Mr. Cooper Group have approved its merger with Rocket Companies, with each Mr. Cooper share to be converted into 11 shares of Rocket's Class A common stock. The deal—still subject to closing conditions—may also include a special $2.00 per share dividend. Together, the two lenders aim to build a dominant force in U.S. housing finance amid industry margin pressures.
Commerzbank – UniCredit
Commerzbank CEO Bettina Orlopp has rejected the idea of a takeover by UniCredit, despite the Italian bank's 29.9% stake and ambitions to build a German banking champion. Orlopp reaffirmed that strategic independence remains a priority. With opposition from employees and the German government, a full acquisition appears unlikely in the near term.
Kraft – Heinz
Ten years after their high-profile merger, Kraft Heinz is set to split into two separate companies: a global Heinz business and a North America-focused Kraft operation. The move marks the unwinding of one of 3G Capital and Warren Buffett's most notable but ultimately disappointing consolidation bets. The separation aims to unlock shareholder value after years of underperformance.
Monte dei Paschi di Siena – Mediobanca
Banca Monte dei Paschi di Siena has sweetened its takeover bid for Mediobanca to €13.55 billion, edging closer to 35% shareholder support. The revised proposal, which may include a second offer period, aims to secure over two-thirds ownership to unlock €700 million in synergies and tax benefits. Key backers include the Benetton family and Delfin, increasing the likelihood of a full merger.
Union Pacific – Norfolk Southern
Knight-Swift Transportation has endorsed the proposed merger of Union Pacific and Norfolk Southern, citing efficiencies such as coast-to-coast rail service and environmental benefits. However, regulatory approval remains uncertain amid political scrutiny, including the controversial removal of a Surface Transportation Board member.
Performance Food – US Foods
Performance Food Group faces activist pressure from Sachem Head Capital Management, which has nominated four directors and is pushing for a merger with rival US Foods Holding. While the company emphasizes its independent growth strategy, Sachem Head's history of influencing deals raises speculation that consolidation in the U.S. food distribution sector may accelerate.
Washington H. Soul Pattinson – Brickworks
Merger plans between Australian giants Washington H. Soul Pattinson and Brickworks are moving forward, with a final court hearing scheduled for September 12. The transaction, structured via two interconditional schemes of arrangement, is expected to create a diversified investment and property powerhouse with enhanced scale and operational synergies.
Louis Dreyfus – Bunge
Louis Dreyfus Company (LDC) has purchased grain and oilseed assets in Hungary and Poland from Bunge Global, part of divestitures tied to Bunge's $34 billion merger with Viterra. The assets boost LDC's sunflower and rapeseed processing capacity in Central Europe, strengthening its trading position amid heightened scrutiny on global food security and supply chains.
KKR – Curlew Student Trust II
KKR has acquired a £230 million UK student housing portfolio from Curlew Student Trust II, adding 2,179 beds to its portfolio. The deal underscores private equity's appetite for stable, income-generating real estate assets, particularly in resilient segments like student accommodation.
KKR – Samhwa
KKR has also agreed to acquire South Korean premium packaging firm Samhwa from TPG for KRW 733 billion ($528 million). Supplying major cosmetic brands including L'Oréal and Estée Lauder, Samhwa positions KKR to capitalize on the booming global demand for luxury beauty products.
Nomura – Saikaya Department Store
Nomura Holdings is acquiring a 9.39% stake in Saikaya Department Store, signaling interest in reviving traditional retail formats. While modest in scale, the move hints at potential larger plays as Japanese financial institutions explore consumer-facing investments.
China Mobile – HKBN
China Mobile Hong Kong, a unit of China Mobile, has secured majority control of HKBN with a 70.7% stake, making its $5.075 per share offer unconditional. The acquisition strengthens its broadband market position and vertical integration in Hong Kong's telecom sector.
JD.com – Ceconomy
Germany has launched a national security review of JD.com's proposed €2.2 billion takeover of Ceconomy, parent of MediaMarkt and Saturn. Concerns over Chinese ownership of key tech retail infrastructure could delay or derail the deal, highlighting geopolitical sensitivities around cross-border acquisitions in Europe.
IAG – RAC Insurance
Australia's competition regulator has flagged concerns over IAG's planned A$1.35 billion acquisition of RAC Insurance in Western Australia. Potential risks include higher premiums and reduced consumer choice. IAG has pledged continued engagement with regulators to push the deal forward.
CoreWeave – OpenPipe
Cloud compute leader CoreWeave is acquiring reinforcement learning specialist OpenPipe, adding capabilities in training advanced AI models. While financial terms remain undisclosed, the deal highlights growing convergence between cloud infrastructure and AI innovation platforms.
