Updated October 4, 2026 · through Special Situations Digest #35 (Oct 4, 2026) · 44 this week
A running index of going-private transactions covered in the Special Situations Digest: recent take-private deals, leveraged buyouts, and merger agreements that would convert public companies into private entities, with each item linked to the underlying filing. Below: the 100 most recent situations spanning 18 countries. Earlier coverage includes 601+ additional situations from prior issues.
Going-private deals are among the most studied event-driven situations: a clear price floor (the announced offer), a defined timeline (shareholder vote, regulatory approval), and a measurable spread to closing. Activist campaigns, strategic reviews, and competing bidders frequently lift the eventual closing price above the announced offer, while regulatory or financing risks can break the deal.
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This week's take-private deals at a glance
Offer prices and expected closing dates as disclosed, soonest first.
| Company | Offer | Premium | Closes |
|---|---|---|---|
| Senior PLC SNR.L | – | – | Oct 8, 2026 |
| Pinewood Technologies PINE.L | – | – | Oct 9, 2026 |
| SEED Co., Ltd. 7743.T | ¥795 | – | Oct 13, 2026 |
| Covestro AG 1COV.DE | EUR 59.46 | – | – |
| Integer Holdings Corporation ITGR | $127 | – | – |
| Guotai Junan International 1788.HK | HK$3 (approximately $0.38) per share | – | – |
| DoubleVerify Holdings, Inc. DV | $13.60 | 22% | – |
| Utz Brands, Inc. UTZ | $14.25 | 91% | – |
| OCI Global OCI.AS | €4.10 | – | – |
| Slate Grocery REIT SGR-U.TO | C$13 per unit | 20% | – |
| Zheneng Jinjiang Environment BWM.SI | S$0.70 | 50.5% | – |
| Weave Communications, Inc. WEAV | $7.40 | – | – |
| Get Nice Holdings Limited 0064.HK | HK$4.00 | 17.6% | – |
| Tribal Group plc TRB.L | 111 pence per Ordinary Share | 5.7% | – |
| MKH Berhad 6114.KL | RM2 | – | – |
| Lifecore Biomedical, Inc. LFCR | $6.28 | 49.5% | – |
| Goodbaby International Holdings Limited 1086.HK | HK$1.50 | 38.89% | – |
| Hafary Holdings 5VS.SI | 64 cents | 4.9% | – |
| CE Holdings Co.,Ltd. 4320.T | ¥1,650 | – | – |
| Wafangdian Bearing Company Limited 200706.SZ | HKD 2.86 | – | – |
| Invesque Inc. IVQ.TO | US$0.101 | 68% | – |
| The Marygold Companies, Inc. MGLD | $2.00 | – | – |
| Maoye International Holdings Limited 848.HK | HK$0.208 | 110.1% | – |
| Noumi Limited NOU.AX | A$0.1234 | – | – |
| Aixia Group AB AIXIA-B.ST | SEK 87.50 | – | – |
Jump to country
United States 36 situations
Utz Brands, Inc. UTZ (US) · $14.27 · MCAP $1.3B · EV $2.9B
Offer $14.25 · premium 91%
Idaho USA, Inc. will take Utz Brands, Inc. (UTZ) private in a cash merger at $14.25 per share.
Featured in Issue #35 · Oct 4, 2026
GFL Environmental GFL (US) · $40.43 · MCAP $14.6B · EV $21.7B
GFL rose 4% on a report that two private equity groups have made offers for the company.
Featured in Issue #35 · Oct 4, 2026
Soundthinking, Inc. SSTI (US) · $8.31 · MCAP $109M · EV $108M
Transom Signal AcquireCo, LLC will take Soundthinking, Inc. (SSTI) private for $8.00 per share in cash plus one contingent value right (CVR) worth up to $3.00 (Agreement and Plan of Merger).
Featured in Issue #35 · Oct 4, 2026
The Marygold Companies, Inc. MGLD (US) · $1.95 · MCAP $83M
Offer $2.00
Funds managed by Madison Dearborn Partners will acquire all outstanding shares of The Marygold Companies for $2.00 per share in cash.
Featured in Issue #35 · Oct 4, 2026
Clear Channel Outdoor Holdings, Inc. CCO (US) · $2.35 · MCAP $1.2B · EV $7.5B
Clear Channel Outdoor Holdings (CCO) now expects its acquisition by a Mubadala Capital-advised consortium to close early in the fourth quarter of 2026 (Form 8-K).
Featured in Issue #35 · Oct 4, 2026
DoubleVerify Holdings, Inc. DV (US) · $13.40 · MCAP $2.1B · EV $2.0B
Offer $13.60 · premium 22%
DoubleVerify entered into a Merger Agreement dated August 6, 2026 with Neptune BidCo US Inc. and Wallace Merger Sub Inc. Stockholders will receive $13.60 per share in cash, without interest and subject to withholding…
Featured in Issue #35 · Oct 4, 2026
MGM Resorts International MGM (US) · $31.06 · MCAP $7.9B · EV $36.2B
MGM Resorts International (MGM) is exploring a bid to take People Inc private.
Featured in Issue #35 · Oct 4, 2026
Integer Holdings Corporation ITGR (US) · $126.40 · MCAP $4.3B · EV $5.6B
Offer $127
Integer Holdings Corporation announced it received early termination of the HSR waiting period in connection with the pending acquisition by an affiliate of investment funds managed by KKR.
Featured in Issue #35 · Oct 4, 2026
Priority Technology Holdings, Inc. PRTH (US) · $7.79 · MCAP $642M
Priority Technology Holdings, Inc. is being sold to an investor group led by Chairman and CEO Thomas Priore for $8.05 per share in cash.
Featured in Issue #35 · Oct 4, 2026
Lifecore Biomedical, Inc. LFCR (US) · $6.60 · MCAP $247M · EV $436M
Offer $6.28 · premium 49.5%
Lifecore Biomedical entered into a merger agreement on September 27, 2026 with Lifecore Inc. and Hazel Merger Sub, affiliates of Webster Equity Partners.
Featured in Issue #35 · Oct 4, 2026
Sangoma Technologies Corporation SANG (US) · $4.88 · MCAP $164M · EV $187M
Sangoma announced fourth quarter fiscal 2026 results with revenue of $49.8 million and a net loss of $72.5 million.
Featured in Issue #35 · Oct 4, 2026
Weave Communications, Inc. WEAV (US) · $7.35 · MCAP $588M · EV $561M
Offer $7.40
Weave Communications stockholders will receive $7.40 per share in cash upon completion of the merger.
Featured in Issue #35 · Oct 4, 2026
Accelerant Holdings ARX (US) · $19.75 · MCAP $4.3B · EV $2.8B
Thoma Bravo is acquiring Accelerant Holdings (ARX) in an all-cash transaction with an enterprise value of more than $4 billion.
Featured in Issue #34 · Sep 27, 2026
Weave Communications, Inc. WEAV (US) · $7.35 · MCAP $588M · EV $561M
Willow Parent, LLC is taking Weave Communications, Inc. (WEAV) private via a merger agreement.
Featured in Issue #34 · Sep 27, 2026
The Marygold Companies, Inc. MGLD (US) · $1.93 · MCAP $82M · EV $72M
Offer $2.00 · premium 100%
Madison Dearborn Partners entered into a definitive agreement to acquire The Marygold Companies, Inc. (MGLD) for $2.00 per share in cash on September 25, 2026.
Featured in Issue #34 · Sep 27, 2026
Utz Brands, Inc. UTZ (US) · $14.24 · MCAP $1.3B · EV $2.9B
Offer $14.25 per share
Intersnack Group GmbH & Co. KG and affiliated entities are taking Utz Brands, Inc. (UTZ) private in a merger that pays Class A shareholders $14.25 per share in cash (Schedule 13E-3).
Featured in Issue #34 · Sep 27, 2026
Cloopen Group Holding Limited RAASY (US) · $2.65 · MCAP $147M · EV $18M
Cloopen Group Holding Limited (RAASY) shareholders approved a merger agreement to take the company private on September 24, 2026.
Featured in Issue #34 · Sep 27, 2026
DigitalBridge Group DBRG (US) · $15.98 · MCAP $3.0B
Offer $16.00
SoftBank Group Corp. will acquire DigitalBridge Group (DBRG) for $16.00 per share in cash.
Featured in Issue #34 · Sep 27, 2026
Bowhead Specialty Holdings Inc. BOW (US) · $33.76 · MCAP $1.1B · EV $1.1B
Offer $34.00 · premium 11%
Bowhead Specialty Holdings Inc. entered an Agreement and Plan of Merger dated August 2, 2026 with American Family Mutual Insurance Company, S.I. and its wholly-owned subsidiary Trident Superior Inc. Each outstanding…
Featured in Issue #34 · Sep 27, 2026
ReNew Energy Global plc RNW (US) · $6.84 · MCAP $2.5B · EV $10.4B
Offer $7.02 per share · premium 12.5%
CPP Investments, Dyuti Private Holdings, and Mr.
Featured in Issue #34 · Sep 27, 2026
Caesars Entertainment, Inc. CZR (US) · $29.59 · MCAP $6.0B · EV $31.2B
Offer $31.00
Caesars Entertainment, Inc. (CZR) stockholders approved a cash take-private merger by Fertitta Gaming Holdco, LLC at $31.00 per share.
Featured in Issue #34 · Sep 27, 2026
Priority Technology Holdings, Inc. PRTH (US) · $7.78 · MCAP $641M
Offer $8.05
Thomas Priore, Priority Technology's controlling stockholder, chairman and CEO, owns approximately 56.54% of the company's stock.
Featured in Issue #34 · Sep 27, 2026
MarineMax, Inc. HZO (US) · $52.44 · MCAP $1.2B · EV $2.1B
Offer $53.00 · premium 96%
MarineMax, Inc. filed a PREM14A preliminary proxy statement dated September 22, 2026 for a special meeting of shareholders.
Featured in Issue #34 · Sep 27, 2026
CBIZ, Inc. CBZ (US) · $54.68 · MCAP $2.9B · EV $4.8B
Offer $55.00 · premium 54%
Viking ParentCo, Inc. will take CBIZ (CBZ) private in a cash merger valued at $5B, paying $55.00 per share.
Featured in Issue #34 · Sep 27, 2026
Priority Technology Holdings, Inc. PRTH (US) · $7.78 · MCAP $641M
Offer $8.05 · premium 38%
WD Capital Partners Parent Inc. will take Priority Technology Holdings (PRTH) private in a cash merger at $8.05 per share.
Featured in Issue #34 · Sep 27, 2026
Priority Technology Holdings Inc PRTH (US) · $7.78 · MCAP $641M
Offer $8.05 · premium 65%
Priority Technology Holdings announced a privatization agreement on September 21, 2026.
Featured in Issue #34 · Sep 27, 2026
Mistras Group MG (US) · $21.52 · MCAP $685M · EV $909M
Offer $20.35
H.I.G. Capital is taking Mistras Group (MG) private in an all-cash acquisition at $20.35 per share.
Featured in Issue #34 · Sep 27, 2026
Baldwin Insurance Group BWIN (US) · $31.85
DFO Management and Sequence Holdings entered a definitive agreement to take Baldwin Insurance Group (BWIN) private at an equity value of $4.6 billion.
Featured in Issue #34 · Sep 27, 2026
Perfect Corp. PERF (US) · $1.90 · MCAP $194M · EV $32M
Offer $2.00 (dollar) per share
Perfect Corp. (PERF) signed a definitive merger agreement on July 10, 2026 to be taken private by ProjectNY, a company controlled by Chairwoman Alice H.
Featured in Issue #34 · Sep 27, 2026
MISTRAS Group MG (US) · $20.88 · MCAP $632M · EV $855M
Offer $20.35 · premium 13%
Fwd P/E: 16.8x · Fwd EV/EBITDA: 8.5x · Fwd EV/GP: 3.6x · LTM EV/Sales: 1.2x · LTM EV/GP: 3.8x
Mistras Group, Inc. provides technology-enabled industrial asset integrity and laboratory testing solutions in the United States, Europe, the Middle East, Africa, Asia, and South America. The company offers non-destructive testing (NDT) services; pipeline inspections; Plant Condition Management Software; maintenance planning.
H.I.G. Capital agreed to acquire MISTRAS Group in an all-cash transaction valued at approximately $866 million, including outstanding debt. MISTRAS shareholders will receive $20.35 per share, representing premiums of approximately 8% and 13% to the 30-day and 90-day VWAPs through September 17, 2026, and 61% appreciation since year-end 2025. H.I.G. affiliates entered voting and support agreements covering approximately 31% of MISTRAS's outstanding common stock. The merger agreement includes a 40-day go-shop period ending at 11:59 p.m. Eastern Time on October 27, 2026. Baird is MISTRAS's financial adviser, and the board unanimously approved the transaction. Closing is expected in late 2026 or early 2027, subject to stockholder approval, HSR clearance, and other customary conditions; completion would end NYSE trading in MISTRAS common stock.
Featured in Issue #33 · Sep 20, 2026
Baldwin Insurance Group BWIN (US) · $31.93 · MCAP $3.1B
Offer US$32.50
Fwd P/E: 14.0x
The Baldwin Insurance Group, Inc. operates as an independent insurance distribution firm that delivers insurance and risk management solutions in the United States. The company operates through three segments: Insurance Advisory Solutions; Underwriting, Capacity & Technology Solutions.
Baldwin Insurance Group (BWIN) agreed on September 14, 2026 to a cash take-private offer of $32.50 per share (an approximately 88% premium to its unaffected June 17, 2026 closing price), valuing the company at $7.7 billion. The buyer is a consortium of Sequence Holdings and DFO Management, the family office of Michael Dell; closing is targeted for early 2027 subject to a fairness review and customary approvals. The stock trades at 1.8x P/S compared to an insurance industry average of 1.2x and a peer group average of 7.9x. With shares trading near the offer price, the arb spread is effectively closed.
Featured in Issue #33 · Sep 20, 2026
Luxfer Holdings PLC LXFR (US) · $17.22 · MCAP $461M · EV $518M
Offer $17.37 · premium 31%
Fwd P/E: 13.2x · Fwd EV/EBITDA: 8.7x · Fwd EV/Sales: 1.4x · LTM EV/Sales: 1.4x · LTM EV/GP: 5.3x
Luxfer Holdings PLC, together with its subsidiaries, develops and manufactures high-performance materials, components, and high-pressure gas containment devices. The company operates through two segments: Gas Cylinders and Elektron.
Luxfer Holdings PLC (LXFR) agreed to be acquired by Wynnchurch Capital, through Double Eagle Acquisition Buyer, in an all-cash transaction at $17.37 per share, representing a 31% premium. Termination payments are $18.0 million for Luxfer and $32.3 million for the buyer, and HSR clearance has been satisfied. The shareholder vote is scheduled for November 4, 2026. Luxfer's ESPP offer period was moved from December 18 to September 30, 2026, and the company filed a preliminary Schedule 14A proxy statement on August 26, 2026. Completion remains subject to shareholder approval and other conditions.
Featured in Issue #33 · Sep 20, 2026
The AES Corporation AES (US) · $14.83 · MCAP $10.6B · EV $49.6B
Fwd P/E: 6.5x · Fwd EV/EBITDA: 16.5x · Fwd EV/Sales: 3.6x · LTM EV/Sales: 3.8x · LTM EV/GP: 18.7x
The AES Corporation, together with its subsidiaries, operates as a power generation and utility company. The company owns and/or operates power plants to generate and sell power to customers, such as utilities, industrial users, and other intermediaries.
The AES Corporation (AES) is being taken private by Horizon Parent, L.P. and Horizon Merger Sub, Inc. under an Agreement and Plan of Merger signed March 1, 2026. On September 17, 2026, the Public Utilities Commission of Ohio issued an order approving the merger. Upon closing, the company will be jointly owned by investors including the EQT Infrastructure VI fund and investment vehicles affiliated with Global Infrastructure Management, LLC. The merger remains subject to customary closing conditions and additional regulatory approvals. Ohio PUC approval clears one regulatory condition, leaving the arbitrage live on remaining state and federal clearances.
Featured in Issue #33 · Sep 20, 2026
111, Inc. YI (US) · $3.60 · MCAP $32M · EV $159M
Offer US$4.52 per ADS or US$0.226 per Class A Share · premium 29.5%
Fwd EV/GP: 3.4x · LTM EV/Sales: 0.1x · LTM EV/GP: 3.5x
111, Inc., together with its subsidiaries, operates an integrated online and offline platform in the healthcare market in the People's Republic of China. In addition, the company offers online loan application services; cloud-based inventory management services.
Co-founders Dr. Gang Yu and Junling Liu and sponsor Huadeng Tech BioArray Ventures Ltd have proposed to take 111, Inc. (YI) private in a cash transaction at $4.52 per ADS. The consortium holds 41.6% of total outstanding share capital and 91.3% of aggregate voting power. No definitive agreement exists yet.
Featured in Issue #33 · Sep 20, 2026
Workday WDAY (US) · $199.28 · MCAP $48.0B · EV $48.4B
Fwd P/E: 16.5x · Fwd EV/EBITDA: 12.8x · Fwd EV/Sales: 4.3x · LTM EV/Sales: 4.8x · LTM EV/GP: 6.3x
Workday, Inc. provides enterprise cloud applications in the United States and internationally. The company offers a suite of financial management applications to maintain accounting information; manage financial processes, such as payables and receivables; identify real-time financial, operational, and management insights.
Silver Lake is in ongoing take-private financing talks for Workday (WDAY) based on sourced reporting. Shares rose 6% to $199 as of September 17 following reports that financing packages and equity commitments are being assembled. No formal deal has been announced, though Silver Lake was previously reported to be in talks for the acquisition on August 13. The situation represents event-driven optionality on financing feasibility as no signed agreement exists.
Featured in Issue #33 · Sep 20, 2026
GFL Environmental Inc. GFL (US) · $42.53 · MCAP $15.3B
Fwd P/E: 53.3x
GFL Environmental Inc. provides non-hazardous solid waste management services in Canada and the United States.
Blackstone, KKR and Energy Capital Partners are bidding together as one consortium. Brookfield Asset Management and IFM Investors have teamed on a rival bid for GFL. GFL gained as much as 8.4% to $62.29 in Toronto on Thursday. GFL's special committee is expected to evaluate the proposals and could ask bidders to improve their offers. No final decision has been made and other bidders could emerge. CEO Patrick Dovigi has said he would roll all of his ownership stake into any deal. GFL announced in July that it had formed a special committee to oversee potential merger talks.
Featured in Issue #33 · Sep 20, 2026
United Kingdom 16 situations
Pollen Street POLN.L (UK) · £9.09 · MCAP $713M
Pollen Street (POLN.L) is considering taking itself private among other options.
Featured in Issue #35 · Oct 4, 2026
Eleco plc ELCO.L (UK) · GBp 230 · MCAP $253M · EV $234M
Avocet Bidco Limited, a vehicle for Accel-KKR, is taking Eleco plc (ELCO.L) private in an all-cash acquisition via a scheme of arrangement.
Featured in Issue #35 · Oct 4, 2026
Tribal Group plc TRB.L (UK) · GBp 101 · MCAP $286M · EV $287M
Offer 111 pence per Ordinary Share · premium 5.7%
Jenzabar, Inc. is considering a cash offer for Tribal Group plc (TRB.L) at 111 pence per Ordinary Share.
Featured in Issue #35 · Oct 4, 2026
Pinewood Technologies PINE.L (UK) · £4.46 · MCAP $679M · EV $636M
closes Oct 9, 2026
Pinewood shareholders approved a £545 million (~$720M) takeover by US private equity firm Ridgeview Partners.
Featured in Issue #35 · Oct 4, 2026
Senior PLC SNR.L (UK) · GBp 296 · MCAP $1.6B · EV $1.8B
closes Oct 8, 2026
Senior PLC is being acquired by Zeus UK Bidco Limited via a court-sanctioned scheme of arrangement under Part 26 of the Companies Act 2006.
Featured in Issue #35 · Oct 4, 2026
Bodycote PLC BOY.L (UK) · GBp 947 · MCAP $2.1B · EV $2.4B
Veritas Capital's recommended cash acquisition of Bodycote PLC (BOY.L) is structured as a scheme of arrangement and remains subject to applicable conditions and shareholder approval.
Featured in Issue #35 · Oct 4, 2026
Atlantic Lithium Ltd ALL.L (UK) · GBp 15.30 · MCAP $162M · EV $156M
Zhejiang Huayou Cobalt proposes to acquire all issued share capital of Atlantic Lithium (ALL.L) via a scheme of arrangement.
Featured in Issue #34 · Sep 27, 2026
Pinewood Technologies Group plc PINE.L (UK) · GBp 445 · MCAP $678M · EV $635M
Offer £4.48 per share · closes Oct 9, 2026
Pinewood Technologies Group plc (PINE.L), trading as Pinewood.AI, saw shareholders approve a recommended acquisition by U.K.
Featured in Issue #34 · Sep 27, 2026
DCC Energy plc DCC.L (UK) · £64.35 · MCAP $7.3B · EV $9.1B
Banks plan to sell £3.6 billion (~$4.8B) of debt backing the take-private of DCC Energy.
Featured in Issue #34 · Sep 27, 2026
DCC Energy Plc DCC.L (UK) · £64.35 · MCAP $7.3B · EV $9.1B
Offer 6,525 pence
Banks including Barclays, Goldman Sachs, and BNP Paribas are structuring a debt package of roughly £4 billion (~$5.3B) in high-yield bonds and infrastructure loans.
Featured in Issue #34 · Sep 27, 2026
Spire Healthcare Group plc SPI.L (UK) · GBp 246 · MCAP $1.3B · EV $3.0B
Tulip UK, a consortium of Toscafund, THCP Advisory and Ares Management, has agreed to a cash takeover of Spire Healthcare Group plc (SPI.L) endorsed by the target board.
Featured in Issue #34 · Sep 27, 2026
Gooch & Housego PLC GHH.L (UK) · GBp 1,225 · MCAP $444M · EV $509M
closes Oct 16, 2026
Greenlight Bidco Limited is acquiring Gooch & Housego PLC (G&H) in a cash transaction to be implemented via a scheme of arrangement.
Featured in Issue #34 · Sep 27, 2026
Irish Continental Group plc ICGC.L (UK) · £6.60 · MCAP $1.3B · EV $1.6B
Fwd EV/EBITDA: 8.9x · Fwd EV/Sales: 1.9x · LTM EV/Sales: 1.9x · LTM EV/GP: 2.0x
Irish Continental Group plc operates as a maritime transport company in Ireland, the United Kingdom, and Continental Europe. The Ferries segment provides ferry services carrying passengers and roll on roll off freight on short sea routes; and chartering services.
Irish Continental Group shareholders approved Bluefin BidCo's recommended cash offer to acquire almost all issued shares via a court-sanctioned scheme of arrangement. All key resolutions passed at reconvened scheme meetings and an extraordinary general meeting, with strong voter turnout and clear majorities in favour. Shareholders also supported amendments to ICG's constitutional documents and a management incentive arrangement linked to the deal. A portion of shares was ineligible to vote on the management incentive resolution. The transaction now moves to the High Court approval phase, expected in October or early November 2026. Final completion remains subject to remaining conditions and court sanction.
Featured in Issue #33 · Sep 20, 2026
DCC Energy DCC.L (UK) · £64.25 · MCAP $7.4B · EV $9.2B
Fwd P/E: 12.8x · Fwd EV/EBITDA: 7.7x · Fwd EV/Sales: 0.4x · LTM EV/Sales: 0.4x · LTM EV/GP: 3.0x
DCC Energy plc engages in the sales, marketing, and distribution of carbon energy solutions in the Republic of Ireland, the United Kingdom, France, the United States, and internationally. The company operates in two segments, DCC Energy and DCC Technology.
DCC Energy shareholders have approved the take-private deal at a shareholder vote, according to Business Post. The percentage of shareholders that approved the deal is behind the Business Post paywall and not disclosed in the accessible text. Two major advisory firms, Glass Lewis and ISS, have weighed in on the deal, though their recommendations are not specified in the accessible text. The Business Post article is dated September 18, 2026.
Featured in Issue #33 · Sep 20, 2026
Intertek Group plc ITRK.L (UK) · £58.65 · MCAP $12.1B · EV $14.1B
Fwd P/E: 22.0x · Fwd EV/EBITDA: 12.5x · Fwd EV/Sales: 2.9x · LTM EV/Sales: 3.0x · LTM EV/GP: 5.3x
Intertek Group plc provides quality assurance solutions to various industries in the United Kingdom, the United States, China, Australia, and internationally. The company offers quality assurance, testing, inspection, and certification services, including laboratory safety, quality and performance testing.
Isotope Bidco Limited is taking Intertek Group plc (ITRK.L) private through a recommended final cash acquisition. The transaction is being executed as a scheme of arrangement under Part 26 of the Companies Act 2006. Intertek released a corrected lender presentation on 17 September 2026 to address a clerical error, though no core financial or commercial terms were modified. The buyer is indirectly owned by EQT X funds with co-investors Luxinva and Mubadala. This procedural update confirms debt financing documentation is progressing toward a deal that requires shareholder approval and court sanction.
Featured in Issue #33 · Sep 20, 2026
Tribal Group PLC TRB.L (UK) · GBp 82.60 · MCAP $237M · EV $237M
Fwd P/E: 17.2x · Fwd EV/EBITDA: 10.2x · Fwd EV/Sales: 1.8x · LTM EV/Sales: 1.8x · LTM EV/GP: 3.7x
Tribal Group plc, through its subsidiaries, provides software and services to education institutions internationally. The company operates in two segments: Student Information Systems (SIS) and Etio.
General Meeting to be held at 9:30 a.m. on 2 October 2026 at Investec Bank plc offices, 30 Gresham Street, London. The Proposed Sale was first announced on 11 September 2026. Circular includes a definitive calculation of Net Cash Proceeds per Ordinary Share and a Quantified Financial Benefits Statement prepared under Rule 28.6 of the Takeover Code. Investec Bank plc is acting as financial adviser, NOMAD and joint broker. Singer Capital Markets is joint broker.
Featured in Issue #33 · Sep 20, 2026
Japan 12 situations
CE Holdings Co.,Ltd. 4320.T (JP) · ¥1,629.00 · MCAP $172M · EV $147M
Offer ¥1,650
SK-03 Co., Ltd. launched a tender offer for CE Holdings Co., Ltd. from Aug 6, 2026 to Sep 17, 2026, aiming to make it a wholly-owned subsidiary.
Featured in Issue #35 · Oct 4, 2026
HYUGA PRIMARY CARE Co.,Ltd. 7133.T (JP) · ¥2,104.00 · MCAP $95M · EV $105M
HYUGA PRIMARY CARE representative director Tetsuji Kurogi reported a personal holding of 1,357,200 shares, or 18.64%, unchanged from the prior filing.
Featured in Issue #35 · Oct 4, 2026
PHC Holdings Corp. 6523.T (JP) · ¥1,430.00 · MCAP $1.2B · EV $2.4B
Toho Holdings Co. is in talks to acquire PHC Holdings Corp. for more than ¥200 billion ($1.3 billion).
Featured in Issue #35 · Oct 4, 2026
SEED Co., Ltd. 7743.T (JP) · ¥793.00 · MCAP $152M · EV $366M
Offer ¥795 · closes Oct 13, 2026
Luxshare Precision Cayman Limited is tendering for all outstanding shares of SEED Co., Ltd. at ¥795 per common share in cash.
Featured in Issue #35 · Oct 4, 2026
CE Holdings Co., Ltd. 4320.T (JP)
Offer 1,642円 · closes Sep 29, 2026
SK-03 Co., Ltd. now owns 44.75% of the issuer after completing a tender offer at 1,642 yen per share (large shareholding report).
Featured in Issue #34 · Sep 27, 2026
Kobayashi Pharmaceutical 4967.T (JP) · ¥6,885.00 · MCAP $3.3B · EV $2.9B
NSSK and an affiliate of CVC Capital Partners proposed to take Kobayashi Pharmaceutical (4967.T) private in a joint bid valued at ¥500 billion (~$3.2B).
Featured in Issue #34 · Sep 27, 2026
Kadoya Sesame Mills Incorporated 2612.T (JP) · ¥2,870.00 · MCAP $504M · EV $430M
Ozawa Bussan and affiliated parties committed their 16.18% stake in Kadoya Sesame Mills Incorporated (2612.T) to a take-private squeeze-out led by ITG-G Holdings Co., Ltd. (large shareholding report).
Featured in Issue #34 · Sep 27, 2026
Yamadai Corporation 7426.T (JP) · MCAP $4M · EV $9M
Offer 601円 · closes Sep 30, 2026
Yamadai (7426) is undergoing a share consolidation to facilitate its delisting.
Featured in Issue #34 · Sep 27, 2026
Japan Property Management Center Co., Ltd. 3276.T (JP) · ¥2,265.00 · MCAP $241M · EV $196M
Japan Property Management Center (3276) reset the record date for its extraordinary shareholders meeting to October 14, 2026, following a postponement of the tender offer period for its shares to October 1, 2026.
Featured in Issue #34 · Sep 27, 2026
Future Corporation 4722.T (JP) · ¥2,425.00 · MCAP $1.4B · EV $1.2B
Offer JPY 2,451
Fwd EV/EBITDA: 8.5x · Fwd EV/Sales: 2.1x · LTM EV/Sales: 2.4x · LTM EV/GP: 5.0x
Future Corporation provides IT consulting and services primarily in Japan. The company also offers business innovation services, including digital marketing, IT education, e-commerce, and other fields.
The tender offer ran July 30, 2026 to September 10, 2026 at JPY 2,451 (~$16) per share and completed on September 10, 2026; settlement is scheduled for September 17, 2026. Key West Network's stake rose to 77.05% from 31.67%, and the combined filer/joint holder stake rose to 82.88% from 43.33%. Co-filer Yasufumi Kanemaru holds 5.6 million shares (5.83%). Kanemaru agreed to tender a portion of his shares and not tender the remainder; upon completion, all non-tendered shares will be trust-transferred to Key West Network with Key West Network exercising voting rights.
Featured in Issue #33 · Sep 20, 2026
Kadoya Seiyu Co., Ltd. 2612.T (JP) · ¥2,868.00 · MCAP $508M · EV $434M
Offer ¥2,514
LTM EV/Sales: 1.7x · LTM EV/GP: 5.8x
Kadoya Seiyu Co., Ltd. is a Japanese sesame oil manufacturer listed on the Tokyo Stock Exchange Standard Market.
ITG-G Holdings Inc. launched a tender offer for Kadoya Seiyu Co., Ltd. at ¥2,514 (~$16) per common share. Tender period runs September 15, 2026 to October 30, 2026 (30 business days). Minimum number of shares to be acquired is 13.8 million (50.09% post-offer ownership). Purpose is to delist Kadoya Seiyu through a take-private by ITG-G Holdings, wholly owned by Integral Co., Ltd. Kadoya Seiyu's board expressed support for the tender offer and recommended shareholders tender on September 14, 2026. Founding family shareholders (Ozawa Bussan, Ozawa Shoten, Ozawa Kazuhiko) agreed not to tender and will sell via treasury stock purchase. Mitsubishi Corporation (26.88%) and Mitsui & Co. (21.92%) are in discussions to potentially not tender in exchange for treasury stock purchases at revised prices.
Featured in Issue #33 · Sep 20, 2026
Art Vivant Co., Ltd. 7523.T (JP) · ¥1,876.00 · MCAP $110M · EV $123M
Offer ¥1,900 · premium 10.66% · closes Nov 11, 2026
LTM EV/Sales: 1.5x · LTM EV/GP: 2.3x
Art Vivant Co., Ltd. operates in the art business. The company sells paintings, including prints, oil painting, and watercolor products; and arts and crafts, such as sculptures and glass art, as well as miscellaneous art goods.
Orsay Co., Ltd. completed its tender offer and acquired 5.5 million shares (59.73% ownership) as of 2026-09-01. ART VIVANT shares will be designated as delisting securities from 2026-10-20 to 2026-11-10 and are scheduled to be delisted on 2026-11-11.
Featured in Issue #33 · Sep 20, 2026
Canada 5 situations
Invesque Inc. IVQ.TO (CA) · C$0.10 · MCAP $87M · EV $83M
Offer US$0.101 · premium 68%
A special-purpose purchaser managed by Magnetar Financial LLC agreed to take Invesque Inc. (IVQ.TO) private for US$0.101 per share in cash.
Featured in Issue #35 · Oct 4, 2026
Bocana Resources Corp. BOCA.V (CA) · C$0.0750 · MCAP $5M · EV $5M
Bocana Resources Corp. (BOCA.V) extended the deadline for London Gold LLC to provide $1.2 million in additional capital to October 31, 2026.
Featured in Issue #35 · Oct 4, 2026
Slate Grocery REIT SGR-U.TO (CA) · $12.60 · MCAP $767M
Offer C$13 per unit · premium 20%
Slate Grocery REIT entered a definitive agreement to be acquired by a joint venture of Brixmor Property Group and Everview Partners affiliates in an approximately $2.3 billion transaction.
Featured in Issue #35 · Oct 4, 2026
Southstone Minerals Limited SML.V (CA) · C$0.03 · MCAP $710.0K · EV $930.0K
Offer $0.0375
Southstone Minerals Limited entered into an arrangement agreement dated September 21, 2026 with Terry L.
Featured in Issue #34 · Sep 27, 2026
Revolve Renewable Power Corp. REVV.CN (CA) · C$0.23 · MCAP $13M · EV $18M
Offer $0.23
Revolve Renewable Power Corp. entered into a definitive arrangement agreement with Whitfield Power Solutions, LLC. WPS agreed to acquire all issued and outstanding common shares by way of a court-approved plan of…
Featured in Issue #34 · Sep 27, 2026
Hong Kong 5 situations
Guotai Junan International 1788.HK (HK) · HK$2.90 · MCAP $3.5B
Offer HK$3 (approximately $0.38) per share
Guotai Junan International restricted mainland China legacy accounts to sell-only and withdrawals effective September 26.
Featured in Issue #35 · Oct 4, 2026
Maoye International Holdings Limited 848.HK (HK) · HK$0.10 · MCAP $65M
Offer HK$0.208 · premium 110.1%
W.F Group Limited proposes to privatise Maoye International Holdings Limited by a Cayman Islands scheme of arrangement under section 86.
Featured in Issue #35 · Oct 4, 2026
Public Financial Holdings Limited 626.HK (HK) · HK$2.15 · MCAP $302M
Public Bank Berhad proposes to privatise Public Financial Holdings Limited by way of a scheme of arrangement under section 99 of the Companies Act 1981 of Bermuda.
Featured in Issue #35 · Oct 4, 2026
Get Nice Holdings Limited 0064.HK (HK) · HK$3.85 · MCAP $303M
Offer HK$4.00 · premium 17.6%
Offeror Honeylink Agents Limited, wholly owned by Mr.
Featured in Issue #35 · Oct 4, 2026
Goodbaby International Holdings Limited 1086.HK (HK) · HK$1.08 · MCAP $230M · EV $175M
Offer HK$1.50 · premium 38.89%
Crystal Aurora International Ltd. proposes to privatise Goodbaby International Holdings Limited by way of a Cayman Islands scheme of arrangement.
Featured in Issue #35 · Oct 4, 2026
Germany 4 situations
Covestro AG 1COV.DE (DE) · €60.30 · MCAP $14.1B · EV $16.2B
Offer EUR 59.46
ADNOC is pursuing a squeeze-out of Covestro AG (1COV.DE) at a cash offer price of EUR 59.46 (~$67) per share.
Featured in Issue #35 · Oct 4, 2026
Covestro AG 1COV.DE (DE) · MCAP $14.2B · EV $16.3B
Offer EUR 59.46
XRG is taking over Covestro AG (1COV.DE) via a squeeze-out takeover for EUR 59.46 (~$68) per share in cash.
Featured in Issue #34 · Sep 27, 2026
Berentzen-Gruppe AG BEZ.DE (DE) · €5.74 · MCAP $61M · EV $82M
Berentzen-Gruppe AG (BEZ.DE) signed a business combination agreement with Sazerac on September 21, 2026.
Featured in Issue #34 · Sep 27, 2026
Nagarro SE NA9.DE (DE) · MCAP $1.1B · EV $1.4B
Offer EUR 81
Persistent Systems now controls 83.25% of Nagarro SE's outstanding share capital and voting rights, comprising 61.15% acquired through the voluntary public offer and 22.10% previously secured from Lantano Beteiligungen…
Featured in Issue #34 · Sep 27, 2026
Australia 3 situations
Noumi Limited NOU.AX (AU) · A$0.12 · MCAP $23M
Offer A$0.1234
Arrovest Pty Ltd is seeking to acquire all shares of Noumi Limited (NOU) it does not already own through a scheme of arrangement.
Featured in Issue #35 · Oct 4, 2026
Cleanaway Waste Management CWY.AX (AU) · A$2.58 · MCAP $4.1B · EV $5.7B
EQT Infrastructure proposed to acquire 100% of Cleanaway Waste Management (CWY.AX) via a scheme of arrangement.
Featured in Issue #35 · Oct 4, 2026
Global Lithium Resources GL1.AX (AU) · A$1.00 · MCAP $196M · EV $181M
Offer A$1.15 · premium 73%
Titan Australia Mining Pty Ltd will acquire 100% of Global Lithium Resources Limited (GL1.AX) for A$1.15 per share in cash via a scheme of arrangement, taking the company private.
Featured in Issue #34 · Sep 27, 2026
South Africa 3 situations
Putprop Limited PPR.JO (ZA) · MCAP $12M · EV $34M
Putprop's board is considering a scheme of arrangement under sections 114(1)(e) and 115 of the Companies Act.
Featured in Issue #35 · Oct 4, 2026
ArcelorMittal South Africa ACL.JO (ZA) · MCAP $121M · EV $693M
IDC has tabled a R3bn offer to buy 80% of ArcelorMittal South Africa, with Amsa retaining 20%.
Featured in Issue #35 · Oct 4, 2026
Newpark REIT Limited NRL.JO (ZA) · MCAP $32M · EV $56M
LTM EV/Sales: 7.0x · LTM EV/GP: 9.0x
Newpark REIT Limited is a JSE-approved REIT incorporated in the Republic of South Africa.
RenLia Developments Proprietary Limited is taking Newpark REIT Limited (NRL.JO) private via a scheme of arrangement. The Ellerine Shareholders, holding 65.22% of shares in issue, provided irrevocable undertakings to RenLia to accept the cash repurchase offer. This group includes Ellwain Investments with 32.12%, Ellvest with 19.27%, and Seaview Global Investments with 13.84%. The firm intention announcement for the scheme was published on 10 September 2026. The irrevocable undertakings materially de-risk the scheme becoming unconditional and signal a strong path to completion.
Featured in Issue #33 · Sep 20, 2026
Netherlands 3 situations
OCI Global OCI.AS (NL) · €4.07 · MCAP $974M · EV $1.1B
Offer €4.10
OCI reported H1 2026 net profit attributable to shareholders of USD 1 million, compared with USD 343 million in H1 2025.
Featured in Issue #35 · Oct 4, 2026
OCI N.V. OCI.AS (NL) · €4.09 · MCAP $983M · EV $1.1B
Offer EUR 4.10 · closes Nov 27, 2026
NNS Holding has opened an all-cash tender offer at EUR 4.10 per OCI share after securing AFM approval for the offer memorandum.
Featured in Issue #34 · Sep 27, 2026
InPost INPST.AS (NL) · €15.87
Offer €15.60 · premium -1.7%
InPost S.A., together with its subsidiaries, operates as an out-of-home e-commerce enablement platform providing parcel locker services in Poland and other European countries.
Minimum acceptance threshold of 80% has been met. Offer price was €15.60 (~$18) per share. FedEx and Advent will each hold 37% of the consortium, A&R Investments 16%, PPF Group NV 10%. Consortium plans to delist InPost from Amsterdam and will announce by September 23 whether the offer is unconditional. If stake remains below 95%, consortium plans post-transaction split and liquidation to take full control; 95% would allow squeeze-out.
Featured in Issue #33 · Sep 20, 2026
France 3 situations
Eurobio-Scientific SA ALERS.PA (FR) · €25.10 · MCAP $288M · EV $283M
Offer €25.30
EB Development is taking Eurobio-Scientific SA (ALERS.PA) private by offering €25.30 (~$29) per share in cash for the remaining 9.86% of shares (squeeze-out offer).
Featured in Issue #34 · Sep 27, 2026
Voyageurs du Monde ALVDM.PA (FR) · €179.00 · MCAP $912M · EV $678M
Offer €180.00 per share / €182.52 per OCA
Voyageurs du Monde (ALVDM.PA) filed a draft response note with the AMF on 2026-09-22 regarding a public withdrawal offer (offre publique de retrait) that could be followed by a mandatory squeeze-out.
Featured in Issue #34 · Sep 27, 2026
Eurobio Scientific ERS.PA (FR)
Offer €25.30
Eurobio Scientific is a French in-vitro diagnostics company that develops and distributes molecular and other diagnostic tests for transplantation, infectious disease and oncology, sold through affiliates in more than 10 countries.
EB Development intends to take Eurobio Scientific (ERS.PA) private by filing a French public withdrawal offer followed by a mandatory withdrawal at €25.30 per share. The majority shareholder announced its intention to file the OPR-RO with the AMF on September 16, 2026; the formal offer remained proposed rather than launched at that date. The €25.30 per-share price is the reference consideration for minority holders under the proposed going-private structure.
Featured in Issue #33 · Sep 20, 2026
China 2 situations
New Trend International Logis-Tech Co.,Ltd. 300532.SZ (CN) · ¥7.34 · MCAP $697M · EV $532M
Shao Jianwei is transferring all direct and indirect shares of New Trend International Logis-Tech Co., Ltd. (300532.SZ) to Shao Jianfeng, Shenzhen Yuanangui Investment Co., Ltd., Shao Zetian, and Zhan Baosheng to effect…
Featured in Issue #35 · Oct 4, 2026
Wafangdian Bearing Company Limited 200706.SZ (CN) · HK$2.80 · MCAP $144M
Offer HKD 2.86
WZ Group will buy residual shares of Wafangdian Bearing Company Limited (200706.SZ) at HKD 2.86 per share, the same as the original tender offer price.
Featured in Issue #35 · Oct 4, 2026
Singapore 2 situations
Zheneng Jinjiang Environment BWM.SI (SG) · S$0.54 · MCAP $606M · EV $2.4B
Offer S$0.70 · premium 50.5%
Board of Zheneng Jinjiang Environment and Jieneng Investment proposed a scheme of arrangement to take the company private at S$0.70 per share or to issue new shares.
Featured in Issue #35 · Oct 4, 2026
Hafary Holdings 5VS.SI (SG) · S$0.61 · MCAP $206M · EV $413M
Offer 64 cents · premium 4.9%
23 Capital, owned by CEO Low Kok Ann and his children, has made a voluntary conditional cash offer of 64 cents per share for Hafary Holdings.
Featured in Issue #35 · Oct 4, 2026
Sweden 1 situation
Aixia Group AB AIXIA-B.ST (SE) · SEK 85.00 · MCAP $13M
Offer SEK 87.50
White Pearl Technology Group (WPTG) has initiated compulsory redemption of the remaining Aixia Group AB shares and claimed a redemption amount of SEK 87.50 per share.
Featured in Issue #35 · Oct 4, 2026
Italy 1 situation
Seri Industrial SERI.MI (IT) · €2.32 · MCAP $142M · EV $439M
Board approved a merger plan to incorporate Seri Industrial into Seri S.p.A., leading to delisting from Piazza Affari.
Featured in Issue #35 · Oct 4, 2026
Malaysia 1 situation
MKH Berhad 6114.KL (MY) · MYR 1.99 · MCAP $281M
Offer RM2
Batu Kawan Bhd, with wholly owned unit Whitmore Holdings and parties acting in concert, held 548.85 million MKH shares, or a 95.16% stake, as at market close on Sept 30.
Featured in Issue #35 · Oct 4, 2026
Ireland 1 situation
Irish Residential Properties REIT plc IRES.IR (IE) · €1.06 · MCAP $632M · EV $1.3B
Baring International Investment Limited made a fifth possible all-cash offer to acquire Irish Residential Properties REIT plc (0QT8.L) at €1.386 per share.
Featured in Issue #35 · Oct 4, 2026
Spain 1 situation
Ercros, S.A. ERC.MC (ES)
Bondalti Iberica, S.L.U. is taking Ercros, S.A. (ERC.MC) private following the settlement of a public takeover bid for exclusion.
Featured in Issue #34 · Sep 27, 2026
Taiwan 1 situation
Compal Broadband Networks, Inc. 6674.TW (TW)
Offer NT$18.5
Compal Broadband Networks, Inc. develops and sells networking, home security, home entertainment, and wireless accessories in Taiwan, Belgium, Turkey, the Netherlands, the United States, Brazil, Vietnam, and China.
Compal Electronics' and Compal Broadband Networks' boards approved a cash share swap under which Compal Electronics will acquire 100% of Compal Broadband Networks (6674.TW) for NT$18.50 per share, a premium of approximately 18.21% to the prior closing price. The extraordinary general meeting is expected on November 9, 2026, and the tentative share-swap record date is December 31, 2026. Upon completion, CBN will become a wholly owned subsidiary of Compal, be delisted from the TWSE, and lose its public-company status.
Featured in Issue #33 · Sep 20, 2026
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