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Taipei, July 7 (CNA) The Financial Supervisory Commission (FSC) on Tuesday approved two major financial deals: the merger of Bank SinoPac and King’s Town Bank, and the acquisition of Mercuries Life Insurance Co. by E.Sun Financial Holding Co. Regarding the banking merger, the boards of directors of Bank SinoPac and King’s Town Bank approved the deal on March 27, according to the FSC. The merger is set for Jan. 1, 2027, with Bank SinoPac as the surviving entity, the commission said. Once completed, the combined institution will operate 189 branches, making it the second-largest network in the domestic banking sector, trailing only Taiwan Cooperative Bank’s 248 branches, said Wang Yun-chung (王允中), deputy director-general of the FSC’s Banking Bureau. Wang added that the combined bank will rank 12th in deposit and loan market share and seventh in ATM network size with 710 machines. In the second case, E.Sun Financial Holding will acquire a 100 percent stake in Mercuries Life Insurance through a share swap, with the merger tentatively scheduled for Sept. 1, according to the FSC. The FSC noted that E.Sun Financial has committed to retaining all 10,304 of Mercuries Life’s employees for three years while ensuring that the rights of those workers and the insurer’s 2.45 million policyholders remain unaffected by the acquisition. E.Sun Financial and Mercuries Life Insurance each held extraordinary board and shareholder meetings — on Nov. 5 last year and Jan. 23 this year, respectively — to approve the share swap deal. Tsai Huo-yen (蔡火炎), deputy director-general of the FSC’s Insurance Bureau, said that the deal met all legal requirements, adding that E.Sun Financial has proven its ability to protect policyholders, retain staff, and support the insurer’s future financial needs. Tsai noted that E.Sun Financial has not yet announced a rebranding, adding that any request to rename Mercuries Life would likely be submitted for regulatory approval after the merger. Source: https://focustaiwan.tw/business/202607070023

GREENWICH, Conn.–(BUSINESS WIRE)– QXO, Inc. (NYSE: QXO) today announced it has closed its previously disclosed acquisition of TopBuild Corp. The transaction significantly expands QXO’s scale and capabilities across the building products value chain. QXO now holds leadership positions in key building product categories in North America: The company also announced that Alec Covington, TopBuild’s former Chairman, joined QXO’s Board of Directors, effective immediately. Mr. Covington replaces Jared Kushner, who has resigned from the Board of Directors to focus on other commitments. Brad Jacobs, Chairman and Chief Executive Officer of QXO, said, “By acquiring TopBuild, we’re broadening our product offering, adding installation capabilities, and expanding our exposure to fast-growing end markets like data centers. By 2030, we expect to generate at least $300 million in annual synergies largely from procurement, pricing, and cross-selling, while applying TopBuild’s operational excellence across QXO. The transaction is expected to be highly accretive to earnings and advance our plan to build a world-class company with $50 billion in revenue. I’m grateful to Jared for his significant contributions to the company, and I’m pleased to welcome Alec to the Board.” Under the terms of the merger agreement, former TopBuild shareholders will receive shares of QXO’s common stock or a combination of both cash and shares of QXO’s common stock based on their elections and subject to proration and the other terms and conditions in the merger agreement. TopBuild’s shares will stop trading on the New York Stock Exchange. Advisors Morgan Stanley & Co. LLC acted as lead financial advisor to QXO, and Barclays and Wells Fargo Securities acted as additional financial advisors to QXO. Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as legal counsel to QXO. About QXO QXO is North America’s largest distributor and installer of insulation; second-largest distributor of roofing products; second-largest publicly traded distributor of lumber and building materials; and largest distributor of waterproofing products. QXO is the fastest growing company in the $800 billion building products distribution industry and plans to become the tech-enabled leader by delivering best-in-class customer satisfaction and outsized returns for its shareholders. The company is targeting $50 billion in annual revenue within the next decade through accretive acquisitions and organic growth. Visit QXO.com for more information. Source: https://investors.qxo.com/news/news-details/2026/QXO-Completes-Acquisition-of-TopBuild/default.aspx

The transaction has been unanimously approved by both boards and is expected to close in the third quarter of 2026. Vertex plans to fund the purchase with cash and $4.5 billion of bridge financing committed by Bank of America and Morgan Stanley. The acquisition brings Vertex two key assets. Palsonify (paltusotine) was approved by the US Food and Drug Administration (FDA) in September 2025. It is the first once-daily oral therapy for acromegaly, a rare disorder caused by excess growth hormone. The other asset is atumelnant – an oral ACTH receptor antagonist for congenital adrenal hyperplasia (CAH), a rare genetic condition affecting the adrenal glands. Phase II (NCT07159841) data showed patients could bring androgen levels close to normal while on physiologic doses of glucocorticoids, a combination that existing therapies have struggled to achieve. “Vertex’s global infrastructure and commercial footprint will serve to amplify the reach of our science and allow us to maximize the impact of Palsonify, atumelnant and our pipeline,” Scott Struthers, founder and CEO of Crinetics, said. Vertex estimates Palsonify and atumelnant together carry peak sales potential of more than $5 billion. “This revenue profile furthers Vertex’s goal of sustained double-digit revenue growth and is expected to be margin accretive over time,” Chris Wagner, chief financial officer at Vertex, said on an M&A call earlier today. “Together, these assets add more than $5 billion in combined peak sales potential, and they do so in a disease area, specialty endocrinology, where Crinetics has built deep, durable expertise and exactly fits our commercialization framework.” Vertex CEO Reshma Kewalramani echoed this optimism. “Crinetics is an excellent strategic fit for Vertex, with its focus on serious diseases in specialty markets with significant unmet need, well-understood causal human biology, and potentially best-in-class medicines that could deliver transformative benefit to patients,” she said. “We believe Vertex can build on the strong momentum of the PALSONIFY launch by applying our experience in commercializing medicines for rare genetic diseases. We are also excited by the significant potential of atumelnant to transform the treatment landscape for CAH, setting a new standard of care where patients do not have to choose between managing their excess adrenal androgens and enduring the side effects of high-dose steroids.” The deal adds endocrine disease as a new pillar alongside Vertex’s existing focus areas of cystic fibrosis, hematology, pain and renal disease. Cystic fibrosis therapies still accounted for the bulk of Vertex’s revenue last year. “We look forward to working with the talented Crinetics team to rapidly advance their pipeline of medicines for patients living with serious, rare endocrine disorders. Together, these potential blockbuster assets build on our core cystic fibrosis business, ongoing launches and internal innovation portfolio, adding to our growth outlook and driving value for patients and shareholders,” Kewalramani concluded. Source: https://www.bioxconomy.com/partnering/vertex-makes-largest-ever-acquisition-with-10bn-crinetics-deal

Kirkland & Ellis, Paul Weiss and Morrison & Foerster (MoFo) have scored roles in Vertex’s $10bn acquisition of Crinetics, one of the largest pharma deals of the year. Kirkland is guiding Vertex on the deal, which will see the company add treatments for rare hormonal diseases to its portfolio, with the team led by Boston corporate partners Graham Robinson, Laura Knoll and Merric Kaufman. Meanwhile Paul Weiss’s team is headed by New York corporate partners Stan Richards and Krishna Veeraraghavan, while at MoFo the effort was headed by Jim Krenn, chair of the firm’s emerging companies and venture capital practice, and global M&A chair Spencer Klein. Vertex, a dominant player in cystic fibrosis (CF) medicines, has been looking for other avenues for diversification, according to Reuters. Its acquisition of Crinetics will give it access to treatments that together could generate ​more than $5bn in annual revenue, the firms said in a statement. The ​deal gives Vertex access ​to Palsonify, the ⁠first and only once-daily oral pill approved by the US Food and Drug Administration for the treatment of adults with acromegaly, a rare condition caused by ​excess growth hormone. “We believe Vertex can build on the strong momentum ​of the ⁠Palsonify launch by applying our experience in commercialising medicines for rare genetic diseases,” Vertex CEO, Reshma Kewalramani, said in a statement. Crinetic also has an experimental drug, atumelnant, ⁠in ​late-stage development for congenital adrenal hyperplasia, a ​rare genetic disorder affecting the adrenal glands. Morgan Stanley and Lazard are acting as financial advisors to Vertex. JP Morgan Securities and Leerink Partners are acting as financial advisors to Crinetics. The deal is expected to close in the third quarter of 2026; Vertex expects it to become ​accretive to adjusted operating income in 2029. It is the latest in a string of large pharma deals announced this year as large pharmaceutical companies race to diversify and replenish pipelines before impending blockbuster patent cliffs. Paul Weiss is counselling AbbVie in its acquisition of inflammation-focused biotech Apogee Therapeutics, repped by Kirkland & Ellis, a $10.9bn deal announced last month. Davis Polk & Wardwell and Slaughter and May have acted for GSK in its $10.6bn acquisition of US cancer drug developer Nuvalent, which is being counselled by Ropes & Gray. Crinetics’ acquisition comes off the back of a record first half for global dealmaking fuelled by a surge of $10bn-plus megadeals. Worldwide M&A activity clocked in at $2.85trn, according to data from the London Stock Exchange Group (LSEG), 50% higher than year-prior levels and the best first half since records began in 1980. Kirkland & Ellis led LSEG’s global M&A legal advisor rankings by deal value in the first half of 2026 after working on 350 deals worth just short of $474.5bn, while Paul Weiss placed fifth with $328.5bn of deals. MoFo was not among the top 25 firms included in the rankings. Source: https://www.globallegalpost.com/news/kirkland-paul-weiss-mofo-guide-latest-blockbuster-pharma-merger-110933

Pacific Assets (PAC), the £473m investment trust hit by the exit of its Stewart Investors management team last year, is to merge with Schroder Asian Total Return (ATR), offering shareholders a 25% cash exit at a 2% discount. The decision of Sydney-based First Sentier to close its Edinburgh subsidiary following the departure in August of David Gait, PAC’s former lead manager, and two colleagues, angered the board which began a strategic review in November. Announcing the conclusion of that process today, chair Andrew Impey said the board and its adviser Investec had received a large number of high quality proposals, including one from FSSA Investment Managers, First Sentier’s other fund management arm which temporarily took over responsibility for the portfolio although it was barred from making major changes during the review. Explaining the decision, Impey said: “Schroder Asian Total Return has an impressive record of attractive total returns from a differentiated investment strategy and a track record of strong discount management. We have every confidence that the enlarged company will be a leading Asian equities investment company for existing and future investors.” The elimination of PAC will reduce the number of trusts in the AIC Asia Pacific sector to three from four. Assuming the 25% cash exit is taken up, it should enlarge ATR’s net assets to £1.1bn, putting it level with stablemate Schroder AsiaPacific (SDP) and ahead of Baillie Gifford’s Pacific Horizon (PHI) which has £956m. Under Schroders fund managers Robin Parbrook and King Fuei Lee, the £624m ATR has generated total underlying investment returns of 57.2%, 22.1%, 10.9% and 15% over one, three, five and 10 years. This beat the annualised sterling returns of the MSCI AC Asia Pacific ex Japan index of 51%, 21%, 8.7% and 11.8% over the same time periods, PAC said. Impey said PAC shareholders who rolled into ATR should get an “immediate uplift” as the latter traded on a narrower average three-month discount to net asset value. As an insurance against ATR’s performance faltering, the company will put forward a 15% performance-related tender offer to shareholders if its growth in net asset value fails to beat the MSCI benchmark over the five years to 31 December 2030. Schroders will contribute to the costs of the merger and has agreed a cut in fees to ensure ATR’s annual ongoing charges drop to 0.65% from 0.8%, a big saving for PAC shareholders who had paid 1.1%. In line with current good practice, the tiered annual management fee, which includes a new 0.5% rate for assets over £500m, will apply to the lower of NAV or share price, meaning shareholders pay less if the trust stands on a discount. ATR chair Sarah MacAulay said: “The proposed combination will provide shareholders with the scale and liquidity that is increasingly desired in the investment trust industry. The board believes that the proposed combination is compelling for Pacific Assets, Schroder Asian Total Return and prospective shareholders and will position Schroder Asian Total Return for future growth as the pre-eminent Asia Pacific investment company.” Source: https://quoteddata.com/2026/06/pacific-assets-to-merge-with-schroder-asian-total-return/

Health innovation platform developer Aditxt and its fully owned subsidiary Ignite Proteomics have announced their plans for a business combination with a strategic partner that values the latter at an implied equity value of nearly $150m. Upon completion of the transaction, Ignite will separate from Aditxt and is expected to become an independent public company via the establishment of a new holding entity, anticipated to be called Ignite Proteomics, Inc. Following the close, the acquisition corporation and Ignite will become wholly owned subsidiaries of the newly formed holding company. The new company’s public warrants and common stock are anticipated to be listed on the New York Stock Exchange, pending approval of the application and customary closing conditions. Aditxt acquired Ignite with the intention of identifying and advancing differentiated health innovation platforms. The planned business combination is described as providing Ignite with a dedicated public company structure and increased access to growth capital. Aditxt Interim CEO and Ignite Proteomics CEO Jeff Busch said: “Aditxt owns 100% of Ignite, a differentiated precision oncology asset, and this transaction is expected to unlock that value through a business combination that values Ignite at approximately $150m. “For Ignite, becoming an independent public company is expected to provide the focus, visibility and access to capital needed to accelerate commercialisation, expand clinical evidence generation and pursue broader adoption of its functional proteomics platform in oncology.” Ignite focuses on the development and commercialisation of a proteomics platform aimed at improving physicians’ understanding of biological activity in tumours. Its core programme targets commercialisation in breast cancer, with plans to expand to further tumour types and clinical settings. The transaction proceeds are expected to support Ignite’s working capital and general corporate requirements. Source: https://www.pharmaceutical-technology.com/news/aditxt-ignite-merger-plans/?cf-view

Paramount said to today that competition authorities in Australia and New Zealand, as well as Saudi Arabia, Ukraine, Serbia and North Macedonia have approved its pending merger with Warner Bros. Discovery. Foreign direct investment authorities in Germany, Slovenia, Belgium, Czechia, New Zealand, Italy, France and Romania are also on board, the David Ellison-run company said in an SEC filing. The deal is still awaiting key greenlights from the U.S. Department of Justice, the EU and the U.K., where regulators said on Tuesday they are opening a Phase 1 inquiry into the combination. The Competition and Markets Authority (CMA) set an August 7 deadline to determine if there is a “realistic prospect of a substantial lessening of competition.” If it finds the threshold is met, the watchdog will move to a Phase 2 investigation. Show more sharing optionsAn aerial view of the Paramount logo on the water tower at Paramount StudiosParamount StudiosJustin Sullivan/Getty Images Paramount said to today that competition authorities in Australia and New Zealand, as well as Saudi Arabia, Ukraine, Serbia and North Macedonia have approved its pending merger with Warner Bros. Discovery. Foreign direct investment authorities in Germany, Slovenia, Belgium, Czechia, New Zealand, Italy, France and Romania are also on board, the David Ellison-run company said in an SEC filing. The deal is still awaiting key greenlights from the U.S. Department of Justice, the EU and the U.K., where regulators said on Tuesday they are opening a Phase 1 inquiry into the combination. The Competition and Markets Authority (CMA) set an August 7 deadline to determine if there is a “realistic prospect of a substantial lessening of competition.” If it finds the threshold is met, the watchdog will move to a Phase 2 investigation. Paramount announced plans to acquire Warner Bros. Discovery in late February for $31 a share in cash, valuing the company at $110 billion (enterprise value, which includes debt) and $81 billion (equity value). It has said it expects to close the deal in the third quarter. In the event the transaction has not closed by September 30, the agreement calls for WBD shareholders to receive a $0.25 per share so-called “ticking fee” for each quarter (measured daily) until closing. It was a sweetener to entice WBD’s board to agree to the deal. Paramount, in the filing, cited the Australian Competition and Consumer Commission’s conclusion that the deal “is unlikely to have the effect of substantially lessening competition in relation to the wholesale supply of films for theatrical release in Australia.” While “the Acquisition would remove competition between Paramount and Warner Brothers, the merged entity would continue to be constrained by other film studios post-Acquisition.” The ACCC said the combined company “is unlikely to have a sufficiently strong position in the supply of wholesale [audiovisual] content to enable it to successfully foreclose rivals’ access.” Source: https://deadline.com/2026/06/paramount-wbd-mergerl-clears-australia-1236952390/

(June 3): Nestlé SA is taking full control of ready-to-drink meal maker yfood Labs GmbH, bolstering the company’s push into faster-growing brands. The Swiss foodmaker, which acquired a 49% stake in Munich-based yfood in 2023, is buying out founders Noel Bollmann and Benjamin Kremer, the company said Wednesday in a statement, confirming a Bloomberg News report. Terms weren’t disclosed. The deal values yfood at around €450 million (RM2.08 billion), people familiar with the matter said earlier, asking not to be named discussing confidential matters. The brand, whose bottles are known for their “This Is Food” large lettering, now also sells shakes, powders, bars and bowls across about 30 European countries, generating annual revenue of nearly €150 million in 2025. Nestlé’s move is the first acquisition under CEO Philipp Navratil, who took charge in September with a plan to streamline operations and promote brands and categories more likely to be in demand in the coming years. Although yfood is well known in Europe, there is significant scope for it to expand in the US, one of the largest markets in the world for meal-replacement products, the people said. What once started there as a market for dieters wanting slimming shakes has grown into a diversified category offering consumers a wide range of specialised products. In 2022, Nestlé bought a majority stake in Orgain, which has one of the top-selling plant-based protein ready-to-drink shakes in the US. Nestlé also owns nutritional drinks brand Boost. Nestlé is not the only foodmaker expanding in this area. In March, Danone purchased UK-based Huel, a maker of fortified protein powders and drinks backed by celebrities like actor Idris Elba, boosting its range of protein-packed dairy products. Nestle recently combined its health science and nutrition divisions to create a larger platform focused on specific needs such as longevity, infant formula and products that support gut health and obesity management for patients on GLP-1 weight-loss medications. See also: Coca-Cola posts best sales growth since 2024 with smaller sizes Navratil said embedding nutrition into one of the company’s four core units was not driven by the need to cut costs but rather the opportunity to “unlock growth”. Speaking at a consumer conference in Paris on Tuesday, Navratil said there was a lot of overlap in areas such as protein, fibre and creatine, a quick source of energy for muscles, and combining nutrition with health science could help more effectively scale innovations globally. The deal will be complete by July 3, with Nestlé executive Jolanda Schwirtz taking charge of yfood. Source: https://www.theedgesingapore.com/amp/news/fb-sector/nestl-buys-out-yfood-founders-first-acquisition-new-ceo

Yamada Holdings (9831.T), Japan’s largest consumer electronics retailer, and fifth-ranked Edion are planning to merge to create a dominant industry giant, Nikkei reported. The two companies aim to establish a joint holding company, consolidating operations to strengthen product development and procurement capabilities. Facing intensifying competition from non-traditional entrants into the electronics sales space, the combined entity would command a massive scale with combined revenues estimated at roughly 2.5 trillion yen ($17.5 billion). The boards of both companies are expected to convene shortly to reach a basic agreement on the management integration, with detailed discussions on the merger scheme and executive structure to follow. Japan’s consumer electronics landscape is poised for a seismic shift as Yamada Holdings (9831.T), the nation’s largest electronics retailer, and Edion, the fifth-largest player, are planning a management merger, Nikkei learned on Wednesday. The initiative aims to create a colossal retail alliance with combined revenues estimated at 2.5 trillion yen, or roughly $17.5 billion, as the sector grapples with fierce competition from unconventional rivals. The core of the plan involves establishing a joint holding company under which both Yamada and Edion would operate. By integrating their management structures, the two firms seek to dramatically enhance their product development and procurement strength, building a bulwark against the increasing incursion of companies from outside the traditional electronics retail industry. Both companies are expected to hold board meetings within the week to reach a basic agreement on the management integration. While the fundamental intention to merge is firm, the specific scheme for the integration, as well as the composition of the executive team under the proposed holding company structure, are details that will be hammered out in subsequent negotiations. Forging a National Champion in a Crowded Market The decision to merge underscores the profound transformation of Japan’s electronics retail sector. Once dominated by specialized big-box stores, the market is now awash with competition from e-commerce platforms, discount drugstores, and home improvement centers that have aggressively expanded their electronics assortments. This blurring of retail boundaries has placed immense pressure on dedicated electronics chains to achieve scale efficiencies that can support competitive pricing and exclusive product development. A merger between Yamada and Edion would create an entity with unprecedented market coverage across Japan. Yamada Holdings operates a vast network of stores under brands like Yamada Denki, while Edion has a strong footprint with its own regional chains. The combined group would wield significant bargaining power with major electronics manufacturers, enabling it to secure better supply terms and invest more heavily in private-label goods and digital transformation. The integration is expected to proceed with careful consideration of regulatory requirements, though the complementary geographic presence of the two chains may help smooth antitrust reviews. For consumers, the union promises a more robust omnichannel experience, merging Yamada’s extensive physical and online infrastructure with Edion’s regional expertise. As the boards prepare to formalize their intent, the move signals a new chapter of consolidation in a retail segment that is rapidly redefining itself to survive and thrive in an era where every store is an electronics store. Source: https://finance.biggo.com/news/rHiNjp4BoQmpnl368PBW

Ampol’s proposed acquisition of EG Australia has been cleared by the Australian Competition and Consumer Commission (ACCC) after securing a commitment from the fuel retailer to divest 41 service stations across five states. The regulator said the divestments would address competition concerns in local fuel markets where the combined business could otherwise reduce consumer choice and weaken price competition. To secure approval, Ampol committed to selling 41 sites across Queensland, NSW, Victoria, SA and WA. “The ACCC was concerned the acquisition could materially reduce competition and reduce choice for Australian motorists. We are very conscious of community concern about fuel prices and cost of living, and we are continuing to closely monitor and report on the fuel industry,” said ACCC commissioner Philip Williams. The acquisition, first announced in August, will significantly expand Ampol’s retail footprint, adding hundreds of fuel and convenience stores to its network. Following the ACCC’s decision, Ampol MD and CEO Matt Halliday said the deal would enable the company to expand its low-cost U-Go fuel offer on a much larger scale. According to the Australian Financial Review, Halliday said Ampol would use the EG Australia network to accelerate the rollout of the discount fuel brand. Around 125 EG sites are expected to be converted to the U-Go format, increasing the network from 46 locations to about 170 nationwide. The ACCC has approved Dib Group (Metro Petroleum) as the buyer of the divestment sites and granted a notification waiver for the acquisition, saying the deal would create or strengthen a viable long-term competitor in the 39 affected local markets. Metro Petroleum and its related entities currently own and operate more than 300 sites across Australia. “We believe Metro Petroleum’s acquisition of the divested sites would result in the creation, or expansion, of a strong, independent and viable long-term competitor in the 39 local markets,” Williams said. The transaction is expected to be completed by the end of this month. Source: https://insideretail.com.au/sectors/accc-clears-ampols-eg-australia-takeover-subject-to-divestments-202606