Plus: Bezos reportedly looks to buy CNBC and Nestlé CEO launches strategic review of vitamin biz
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Good afternoon! Cassidy Cavanagh here to cool down your Thursday with the hottest deals heating up the M&A scene today.

  • Jeff Bezos is reportedly considering acquiring CNBC following its planned spin-off from Comcastlater this year. The Amazon founder sees the business-focused cable network as a potential neutral complement to his existing media holdings including The Washington Post.
  • In related news, Versant, the freshly named company for Comcast’s spin-off, named its board of directors, many of whom bring years of experience in dealmaking.
  • Nestlé CEO Laurent Freixe is accelerating efforts to revive growth at the world’s largest food company, launching a strategic review of underperforming vitamin brands including Nature’s Bountyand Puritan’s Pride.

OUR DAILY ANALYSIS

How to Close a Deal in This Environment

Feel like the diligence process around your deals is taking longer than usual? You’re not alone. Valuation gaps between buyers and sellers are just one reason why trying to close a mid-market deal is so difficult these days. Doing diligence on a deal is as complicated as ever when assessing risk and getting investment committees on board. What’s a dealmaker to do? We asked several experts for an assessment of the current environment and got their best advice on how to get a deal done right now.

 

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M&A EDITORS PICKS

HarbourView Buys Portion of Kelly Clarkson’s Music Catalog

The transaction reflects HarbourView’s continued focus on investing in entertainment content. READ MORE

Blackstone Sees Strong Q2

Blackstone ended the quarter with $181.2 billion in capital available for deployment. READ MORE

Lazard Rides Deal Boom with REIT, Kellogg Advisories

CEO Peter Orszag highlighted momentum across global markets and expects private equity to play a bigger role in future deals. READ MORE

Arch Capital Seeks to Cut BlackRock Fund Stakes

The move follows disappointing returns from several funds and growing concerns over BlackRock’s private credit strategy. READ MORE

CSX Railroad Open to Merger Talks

The remarks came as CSX reported second-quarter earnings that beat expectations. READ MORE

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SPECIAL FOCUS: M&A LEGAL & REGULATORY

Legal tensions are heating up across dealmaking: Saks is sparring with lender Pathlight over Hudson’s Bay’s financing, lawmakers have subpoenaed JPMorgan and Bank of America in a probe tied to CATL‘s planned IPO and Broadcom is battling an EU court challenge to its $69 billion VMware takeover.

Find more details on all of them below.

Saks Clashes With Pathlight Over Hudson’s Bay

Saks argues Pathlight failed to support a loan repayment that could have prevented its former parent, Hudson’s Bay Co., from entering liquidation. READ MORE

Lawmakers Subpoena JPMorgan, BofA Over CATL IPO

JPMorgan CEO Jamie Dimon previously defended the deal, stating the bank conducts thorough due diligence. READ MORE

Broadcom Faces EU Court Challenge Over VMware Deal

The court will review whether EU regulators must revisit their approval of the merger. READ MORE

PEOPLE NEWS

Comcast’s Versant Taps Board with Deal and AI Experience

KKR-Backed Refresco Appoints Steve Presley as CEO

Sixth Street Appoints Stuart Wrigley to Lead APAC

PAI-Backed Alphia Names Will McDade as CFO

PACT Capital Partners Names Jemma Wolfe COO

DEAL LOG

GovCIO Buys SoldierPoint from Iron Bow

Aerospace: HEICO Purchases Avionics Maker Gables Engineering

Bankers & Advisors: Northern Trust Reaffirms Independence

Bankers & Advisors: U.S. Upstream M&A Slows Sharply, Analysts Say

Bankers & Advisors: JPMorgan Says More Mega Deals Are Coming

Business Services: Spectrum Equity Invests $300M in Quavo

Business Services: SimiTree Launches AI Platform for Home Health

Business Services: Waystar Acquires Iodine Software in $1.25B Deal

Consumer Goods: DallasNews Weighs Higher Offer from Alden

Energy: Pacific Petroleum, VCP Buy Wyoming Oil Assets

Energy: ArcLight Acquires Advanced Power

Energy: One Rock in Running for BP’s Castrol Unit

Financial services: Avesi’s Sands Point Buys BRM Specialty Markets

Financial services: Aprio Buys Sandler & Co. 

Financial services: Simplicity Group Acquires Planscope360

Financial services: TD Bank Forms Strategic Partnership with Fiserv

Food & Beverage: Nestlé CEO Launches Strategic Review of Vitamin Biz

Industrials: Amphenol Acquires Narda-MITEQ from J.F. Lehman

Industrials: Veolia Buys Chameleon Industries

Real Estate: MCME Carell Buys City Office REIT in Take-Private Deal

SPACs: iRocket To Go Public Via SPAC

Technology: Gamefound Buys Indiegogo

Technology: Report: Bezos Looking to Buy CNBC

Technology: Sony Reportedly Explores Sale of Israeli Chip Unit

Transportation: PE Firms Submit Bids for Forward Air



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