9 stories from 5 sources

Strategic buyers pursue scale despite a weakening M&A backdrop

Day’s Recap

Supporting Articles

11:53 PMVariety

John Oliver Dodges David Ellison-Skydance News on ‘Last Week Tonight’

Summary

John Oliver’s latest “Last Week Tonight” episode did not directly address the impending David Ellison-led combination of Paramount Skydance and Warner Bros. Discovery. The merger, valued at $111 billion in debt-inclusive terms, was expected to close on Oct. 6, leaving the future shape of the enlarged studio group unsettled.

Oliver’s silence keeps the episode from becoming an immediate commentary on one of Hollywood’s biggest

Why it matters

The deal could reshape Hollywood’s competitive structure before its creative and editorial consequences become clear.

Link to Story

4:47 PMBloomberg Markets

Schneider Said to Near Deal to Buy PTC for More Than $20 Billion

Summary

Schneider Electric is nearing an agreement to acquire US engineering software developer PTC for more than $20 billion, according to a person familiar with the matter.

The deal would make Schneider a major force in industrial software while giving PTC access

Why it matters

A transaction above $20 billion would reset expectations for industrial technology M&A and accelerate software consolidation.

Link to Story

12:00 AMFinancial Times

Masayoshi Son’s AI ambitions outgrow SoftBank’s balance sheet

Summary

SoftBank is acquiring DigitalBridge for $4 billion, bringing the data-centre investment group into its portfolio. DigitalBridge CEO Marc Ganzi says the business will serve as SoftBank’s “third-party infrastructure arm.”

The deal gives SoftBank access to an operating platform for financing and building the data

Why it matters

SoftBank is using an acquisition to expand its AI infrastructure reach while limiting the capital burden on its own balance sheet.

Link to Story

Other Developments

A curated list of other prominent stories from this day.

9:15 PMFinancial Times

AkzoNobel to sell its SE Asia decorative paint unit to Nippon Paint

Summary

AkzoNobel is close to selling its Southeast Asian decorative paints business to Nippon Paint as it exits non-core markets ahead of its planned merger with Axalta.

The divestment would give Nippon Paint a targeted regional expansion while helping AkzoNobel simplify its

Why it matters

The transaction could strengthen Nippon Paint's Southeast Asian position and clear another obstacle to AkzoNobel's broader merger strategy.

Link to Story

8:48 PMBloomberg Markets

Nippon to Buy Akzo’s Southeast Asia Unit for $1.35 Billion

Summary

Nippon Paint Holdings will acquire Akzo Nobel’s decorative paints operations in Southeast Asia for $1.35 billion. The deal gives Nippon a regional business it previously sought to acquire as part of a broader transaction.

The shift from a full-company pursuit to a regional carveout lets Nippon expand selectively while

Why it matters

The deal reshapes a competitive regional market while showing how strategic buyers can use carveouts to secure targeted growth.

Link to Story

2 stories · 2 sources

8:41 PMHousing Wire

DRA Advisors Buys 49% Stake in 1301 Avenue of the Americas

Summary

DRA Advisors is acquiring a 49% stake in 1301 Avenue of the Americas through a joint venture with Rithm Capital. The property is valued at approximately $1.3 billion, and the partnership will own and operate the Manhattan office tower.

The transaction brings a new institutional capital partner into Rithm Capital’s ownership structure without requiring

Why it matters

The partnership shows how owners are using partial-stake sales to recapitalize office assets while preserving control and upside.

Link to Story

8:27 PMPYMNTS

Crypto Dealmaking Jumps 44% Despite Clarity Act Uncertainty

Summary

Crypto dealmaking rose 44% even after the Senate failed to advance the Clarity Act, which would establish a federal regulatory framework for digital assets. With the bill’s prospects this year narrowing, regulators may continue filling the policy gap.

The surge shows that regulatory uncertainty has not stopped crypto companies and investors from pursuing

Why it matters

Crypto M&A is expanding ahead of regulatory clarity, potentially locking in market positions before lawmakers define the rules.

Link to Story

4:00 PMFinancial Times

Dealmaking slowdown threatens early end to M&A boom

Summary

Higher interest rates, uncertainty over artificial intelligence and approaching midterm elections are weakening dealmaking after a record-breaking start to the year.

The momentum behind the M&A rebound is fading as financing costs rise and buyers struggle

Why it matters

The shift could turn a strong opening to the year into a short-lived M&A cycle.

Link to Story

7:03 AMFinancial Times

BT weighs improved TalkTalk offer after initial approach rejected

Summary

BT is considering a higher offer for debt-laden broadband provider TalkTalk after its initial approach was rejected. The telecoms group is seeking to reach a deal within days.

BT's willingness to improve its offer signals that it sees strategic value in TalkTalk despite

Why it matters

The bid could accelerate consolidation in UK broadband while testing how much BT is willing to pay for growth.

Link to Story

Make it yours

Build Your First Pass.

Pick your topics, set your cadence, and receive your personalized First Pass in your inbox. It’s that simple!