Big-ticket deals advance as regulators scrutinize megamerger

Summary

GSK is in discussions to acquire Nuvalent for more than $9bn, a transaction that would rank among GSK’s largest deals. The talks come as biotech merger activity picks up in 2026, especially around oncology assets.

Why it matters

A $9bn-plus move would reshape GSK’s growth profile and raise the clearing price for oncology biotech M&A.

Summary

GSK agreed to acquire Nuvalent for $10.6 billion, adding a pipeline of targeted oncology drugs to its portfolio. The deal extends the recent wave of large biopharma takeouts aimed at buying late-stage assets rather than building them internally.

Why it matters

The deal resets valuation benchmarks for precision-oncology acquisitions and signals continued urgency among big pharma to secure growth assets via M&A.

Summary

The UK competition regulator has opened an investigation into Paramount Skydance Corp.'s proposed $110 billion acquisition of Warner Bros. Discovery. The probe will assess whether the deal could reduce competition in UK media and entertainment markets.

Why it matters

A UK probe adds another veto point that can delay closing, raise remedy costs, or break the deal outright.

Summary

Nuvei is in advanced negotiations to acquire cross-border payments company Payoneer in a deal valued at about $2.7 billion. The transaction would combine a merchant acquirer with a platform focused on SME and marketplace cross-border payouts.

Why it matters

If it closes, the deal would create a more vertically integrated payments player and raise competitive pressure on other cross-border and merchant services platforms.