Deals

Deals (w/e 5/22/26)

EQT's £9.4bn ($12.7bn) take-private of Intertek moves to due diligence. UK product testing and quality assurance. EQT increased its bid after three rejections. Intertek's board is now ready to recommend the fourth and final offer of £60 per share. If completed, this would be Britain's third-largest PE take-private ever, behind BAA in 2006 and Alliance Boots in 2007. Four bids. Three rejections. A final number 16.5% higher than the first. The Intertek board held its nerve. That almost never happens. REUTERS

Apollo hired three managing directors. Carlyle supplied one of them.

Apollo hired three managing directors, one of them from Carlyle. Advent's head of tech strategy now works at the OpenAI venture Advent helped fund.

Advent sold its last CCC shares at $7.79. GTCR will pay $7.75.

GTCR and Elliott are paying $7.75 a share for CCC. Advent sold its final stake last November at $7.79, down from a $10 SPAC-era price.

Thoma Bravo's Proofpoint pays 53 times free cash flow for Varonis

Proofpoint will pay $49.75 a share for Varonis, 52% above the June close. The multiple is 53 times free cash flow, and the first-half cash flow fell.

EQT's fee-generating assets rose €40bn in a quarter. Coller was €34bn.

Fee-generating assets rose €40bn in the quarter. Strip out the Coller acquisition and the gain is about €6bn.

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Apollo hired three managing directors. Carlyle supplied one of them.

Advent sold its last CCC shares at $7.79. GTCR will pay $7.75.

Thoma Bravo's Proofpoint pays 53 times free cash flow for Varonis

EQT's fee-generating assets rose €40bn in a quarter. Coller was €34bn.