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Update: UK Takeover Panel extends deadline for KKR-Stonepeak’s Assura bid to 11 April​

Private Equity Insights

The initial deadline was set for 15 March, but the private equity consortium has been given additional time to complete due diligence, Reuters reports. Assura, which specialises in primary care property investments across the UK, has drawn interest due to its long-term rental stability and critical role in the healthcare sector.

Bidding 147
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Blackstone and EQT advance in bidding war for waste firm Urbaser

Private Equity Wire

Private equity giants Blackstone and EQT have moved into the second round of bidding to acquire Urbaser, a global waste management company which could be valued at up to 5bn, according to a report by Reuters citing unnamed sources familiar with the matter.

Bidding 93
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Grifols shares plunge as Brookfield drops takeover bid

Private Equity Wire

Grifols shares tumbled 10% on Wednesday after sources revealed that Canadian private investment giant Brookfield Asset Management is planning to abandon its takeover bid for the Spanish pharmaceutical company, according to a report by Bloomberg. It remains unclear if the two parties might resume negotiations in the future, the sources said.

Bidding 97
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Cerea Partners acquires majority stake in French chocolatier Relais Desserts

Private Equity Insights

Cerea Partners was advised by Lamartine Conseil on M&A, KPMG France on tax, Kea & Partners for due diligence, Finaxeed on M&A, and Oderis Consulting for ESG due diligence.

Stakes 162
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Bain matches CC Capital’s $1.92bn Insignia Capital bid

Private Equity Wire

per share bid, which the Insignia board rejected in December as insufficient. In response to the intensified bidding war, Insignias shares climbed as much as 2.7% Bains latest proposal values the shares of the 178-year-old Australian wealth manager at AUD4.43

Bidding 92
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KKR and Bain advance in Seven & i sale

Private Equity Wire

KKR and Bain Capital have each submitted first-round bids exceeding $5bn for the non-core assets of Japan’s Seven & i Holdings, according to a report by Reuters citing sources familiar with the matter. KKR bid approximately JPY800bn ($5.1bn) for York Holdings, a unit being spun off by the Japanese retailer.

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KKR accuses Bain Capital of NDA breach in Fuji Soft acquisition battle

Private Equity Wire

KKR and Bain are engaged in competing tender offers for Fuji Soft, with bids reaching up to $2bn. Despite Bain’s higher offer, Fuji Softs board has endorsed KKR’s proposal, citing concerns over Bain’s handling of confidential information obtained during due diligence.