Electronic Arts expects to complete its previously announced $55 billion go-private transaction next week. The company said all required regulatory approvals had been obtained as of July 30.
4:41 PMVariety25 stories from 14 sources
Mega-deals reshape gaming, finance and media landscapes
Day’s Recap
Supporting Articles
Intercontinental Exchange has agreed to buy fixed-income electronic trading platform MarketAxess in a $5.7 billion transaction. The acquisition gives the NYSE owner a substantial position in electronic bond trading.
10:15 AMFinextraHSBC has agreed to sell a $25 billion Australian mortgage loan book to Blackstone. The transaction is the latest step in the lender’s broader global overhaul.
9:46 PMFinancial TimesBlackstone has agreed to acquire an approximately A$36 billion Australian home loan portfolio from HSBC, according to people familiar with the matter. The transaction would rank among the largest mortgage portfolio deals on record.
12:15 PMBloomberg Markets
Disney is expected to sell its 50% stake in A+E Global Media to Hearst for more than $1 billion. The transaction would end Disney’s joint ownership of the cable-focused programmer after more than a decade.
5:47 PMVariety
Ben Samek will lead the combined U.S. operations of Banijay and All3Media after the companies completed their $8 billion merger. The enlarged business will operate as part of what the companies describe as the world’s largest independent production company.
7:19 PMVariety
The Portuguese government is weighing two competing bids for TAP Air Portugal and has signaled that factors beyond price will determine the outcome. The bidders are using sharply different public campaigns to demonstrate their value to Portugal.
9:46 AMSkift
Lufthansa Group has submitted a bid for an initial minority stake in TAP Air Portugal as part of Portugal's state-led sale process. Lufthansa says the investment would establish a long-term partnership and support TAP's future as Portugal's national airline.
3:00 AMBreaking Travel News
Okta plans to acquire Permiso Security and add its identity risk signals, behavioral analytics and threat detection capabilities to Okta’s identity platform. The deal is expected to close in the third quarter.
9:35 PMPYMNTS4:41 PMVariety
Electronic Arts Set to Close $55 Billion Go-Private Deal Next Week
Summary
Electronic Arts expects to complete its previously announced $55 billion go-private transaction next week. The company said all required regulatory approvals had been obtained as of July 30.
Regulatory clearance removes the main remaining obstacle to the largest transaction in Electronic Arts' history.
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
The closing will transfer control of a major game publisher to private ownership and test the viability of mega-sized media buyouts.
10:15 AMFinextra
ICE agrees $5.7 billion MarketAxess acquisition
Summary
Intercontinental Exchange has agreed to buy fixed-income electronic trading platform MarketAxess in a $5.7 billion transaction. The acquisition gives the NYSE owner a substantial position in electronic bond trading.
ICE is adding a specialized trading network to its existing exchange and data businesses, broadening
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
The acquisition extends the exchange industry's consolidation push into fixed income.
2 stories · 2 sources
9:46 PMFinancial Times
HSBC sells $25bn Australian home loan book to Blackstone
Summary
HSBC has agreed to sell a $25 billion Australian mortgage loan book to Blackstone. The transaction is the latest step in the lender’s broader global overhaul.
HSBC is converting a large pool of Australian mortgages into cash and reducing the assets
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
The sale shifts Australian mortgage exposure from a global bank to an alternative asset manager and gives HSBC more flexibility to redeploy capital.
12:15 PMBloomberg Markets
Blackstone to Buy $25 Billion HSBC Australia Home Loan Book
Summary
Blackstone has agreed to acquire an approximately A$36 billion Australian home loan portfolio from HSBC, according to people familiar with the matter. The transaction would rank among the largest mortgage portfolio deals on record.
Blackstone is adding a large pool of residential credit exposure as HSBC continues to streamline
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
The transaction shows private capital moving deeper into mainstream consumer lending and could set pricing benchmarks for future bank portfolio sales.
5:47 PMVariety
Disney Expected to Sell 50% Stake in A+E to Hearst for More Than $1 Billion
Summary
Disney is expected to sell its 50% stake in A+E Global Media to Hearst for more than $1 billion. The transaction would end Disney’s joint ownership of the cable-focused programmer after more than a decade.
The sale would give Hearst full control while allowing Disney to exit a mature cable
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
Disney’s exit is another signal that major media companies are treating cable networks as assets to monetize rather than platforms to expand.
7:19 PMVariety
Banijay Americas CEO Ben Samek to Oversee Merged Banijay/All3Media Operations in the U.S.
Summary
Ben Samek will lead the combined U.S. operations of Banijay and All3Media after the companies completed their $8 billion merger. The enlarged business will operate as part of what the companies describe as the world’s largest independent production company.
Samek’s appointment turns the merger from a financial transaction into an operating structure for the
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
The merger strengthens Banijay’s leverage with U.S. platforms at a time when commissioners are demanding more output for less spending.
9:46 AMSkift
Two Bids for TAP Air Portugal, Two Very Different Charm Offensives
Summary
The Portuguese government is weighing two competing bids for TAP Air Portugal and has signaled that factors beyond price will determine the outcome. The bidders are using sharply different public campaigns to demonstrate their value to Portugal.
TAP’s sale is being judged as an industrial and national interest decision, not a simple
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
The winning TAP bidder will need to satisfy Portugal’s economic and political priorities as well as its financial demands.
3:00 AMBreaking Travel News
Lufthansa Group Submits Bid for Minority Stake in TAP Air Portugal
Summary
Lufthansa Group has submitted a bid for an initial minority stake in TAP Air Portugal as part of Portugal's state-led sale process. Lufthansa says the investment would establish a long-term partnership and support TAP's future as Portugal's national airline.
A minority stake would give Lufthansa strategic access to TAP without requiring immediate control, while
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
TAP's sale could redraw European aviation links, with Lufthansa seeking stronger access to Portugal and its international traffic flows.
9:35 PMPYMNTS
Okta Inks Permiso Purchase to Expand Identity Threat Defense
Summary
Okta plans to acquire Permiso Security and add its identity risk signals, behavioral analytics and threat detection capabilities to Okta’s identity platform. The deal is expected to close in the third quarter.
Okta is moving identity security from access management toward continuous detection and response. The acquisition
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
Identity systems are becoming the main battleground in cloud attacks, and Okta is positioning itself to defend them beyond login control.
2 stories · 2 sources
Other Developments
A curated list of other prominent stories from this day.
Indonesia’s state-owned telecom giant is weighing a sale of MDI Ventures, the venture arm that manages about $830 million, according to people familiar with the matter. No deal has been announced.
6:50 PMCNBC
Influence Media Partners, with backing from BlackRock affiliates, has agreed to acquire substantially all of Anthem Entertainment's music publishing catalogs, film and television publishing assets, and master recordings for more than $600 million.
4:39 PMVarietyChurchill Downs plans to sell nine regional casinos and concentrate on its horseracing properties. Shares fell nearly 7% to their lowest level in six years after the announcement.
4:38 PMBloomberg MarketsPai Partners is in exclusive negotiations to acquire British skin care brand Elemis, according to multiple sources.
3:42 PMWWD
Fifth Third has begun sending Comerica customers personalized welcome packages ahead of the planned Sept. 8 migration of their accounts to comparable Fifth Third products. The transition follows the completion of the banks' merger earlier this year.
3:39 PMPYMNTSPlans to sell a stake in FIFA's media division began with private discussions last year between FIFA President Gianni Infantino and venture capitalist Joshua Kushner. The proposed transaction has drawn scrutiny because of FIFA's governance record and the strategic value of its media assets.
12:41 PMBloomberg Markets
AI companies are making acquisitions outside their core categories, including Cognition's purchase of a texting agent and Midjourney's acquisition of an astrology startup. The deals show AI firms expanding into adjacent products and consumer use cases.
12:41 PMPYMNTS
Deal activity is gaining momentum after several sluggish years, but successful transactions still depend on execution. Experienced dealmakers focus on sourcing, closing valuation gaps, retaining talent and managing integration.
12:07 PMChief Executive
British AI neocloud Nscale is acquiring Anyscale, a software company that helps organizations scale AI workloads across data centers and servers. The deal expands Nscale's position beyond infrastructure capacity into the software layer used to manage workloads.
11:19 AMTechCrunchGreif has acquired Spanish polymer container producer Envaplast. The company also reported business improvements despite the effects of the war in Iran and said it reached $90 million in cost cuts ahead of schedule.
11:08 AMPackaging DiveOFX has entered into a Transaction Process Deed for an all-cash acquisition by Equals, the direct owner of Equals Group. The proposed deal would transfer 100% of OFX's issued share capital to Equals, subject to the transaction process and required approvals.
10:04 AMFinextraEntergy is seeking ways to reduce the financial burden of its planned $1.8 billion purchase of the Cottonwood gas plant. Executives acknowledged the facility is older and that the transaction is increasingly uncertain.
8:53 AMUtility Dive
Vedanta's board approved a draft scheme to demerge its real estate business into a separate entity, Vedanta Property Platforms. The portfolio includes about 2,200 acres of land and 55,000 square feet of residential and commercial properties.
6:34 AMEconomic Times RealtyTSG Consumer Partners has acquired a majority stake in fast-growing body care brand Saltair. Model Iskra Lawrence will serve as the brand's chief community advocate.
12:01 AMWWD6:50 PMCNBC
Indonesian state telecom said to weigh sale of venture arm managing $830 million
Summary
Indonesia’s state-owned telecom giant is weighing a sale of MDI Ventures, the venture arm that manages about $830 million, according to people familiar with the matter. No deal has been announced.
A sale would mark a reassessment of the telecom group’s role as a technology investor
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
The potential divestment could redirect hundreds of millions of dollars in capital and reshape how Indonesia’s largest telecom supports startups.
4:39 PMVariety
Music Industry Moves: Influence Media Partners to Acquire Anthem Entertainment’s Publishing and Film & TV Assets in $600 Million Deal
Summary
Influence Media Partners, with backing from BlackRock affiliates, has agreed to acquire substantially all of Anthem Entertainment's music publishing catalogs, film and television publishing assets, and master recordings for more than $600 million.
The deal concentrates a broad package of recurring intellectual property and recorded-music rights under a
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
A $600 million-plus transaction confirms that music and screen rights remain a major institutional investment class.
4:38 PMBloomberg Markets
Churchill Downs Shares Fall on Plans to Sell Casinos, Keep Derby
Summary
Churchill Downs plans to sell nine regional casinos and concentrate on its horseracing properties. Shares fell nearly 7% to their lowest level in six years after the announcement.
The company is trading diversified gaming revenue for a narrower bet on horseracing and marquee
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
The move tests whether a focused sports and entertainment business can create more value than a broader casino portfolio.
3:42 PMWWD
Will Pai Partners Be Next Owner of Elemis?
Summary
Pai Partners is in exclusive negotiations to acquire British skin care brand Elemis, according to multiple sources.
Exclusive negotiations move Elemis closer to a change in ownership, although no deal is final
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
A potential sale would reshape ownership of a prominent premium skin care brand and test Pai Partners' appetite for further beauty investments.
3:39 PMPYMNTS
Fifth Third Begins Comerica Account Migration After Merger
Summary
Fifth Third has begun sending Comerica customers personalized welcome packages ahead of the planned Sept. 8 migration of their accounts to comparable Fifth Third products. The transition follows the completion of the banks' merger earlier this year.
The account migration turns the Comerica merger from a legal transaction into an operational test.
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
The migration is the clearest near-term test of whether Fifth Third can realize value from the merger.
12:41 PMBloomberg Markets
Secret Talks Between Infantino and Kushner Led to FIFA Sale Plans
Summary
Plans to sell a stake in FIFA's media division began with private discussions last year between FIFA President Gianni Infantino and venture capitalist Joshua Kushner. The proposed transaction has drawn scrutiny because of FIFA's governance record and the strategic value of its media assets.
The sale effort originated outside a transparent formal process, putting governance and disclosure at the
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
A stake sale could reshape control of FIFA's media business while intensifying questions about how the organization makes major commercial decisions.
12:41 PMPYMNTS
Silicon Valley’s AI Giants Go Shopping Off Their Turf
Summary
AI companies are making acquisitions outside their core categories, including Cognition's purchase of a texting agent and Midjourney's acquisition of an astrology startup. The deals show AI firms expanding into adjacent products and consumer use cases.
The key shift is from building narrowly defined AI tools to assembling broader ecosystems around
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
AI companies are using acquisitions to broaden their reach before platform boundaries become fixed.
12:07 PMChief Executive
M&A 2026: The Next Inning
Summary
Deal activity is gaining momentum after several sluggish years, but successful transactions still depend on execution. Experienced dealmakers focus on sourcing, closing valuation gaps, retaining talent and managing integration.
The constraint is shifting from a lack of transactions to the ability to execute them
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
A stronger M&A cycle will reward integration discipline more than aggressive bidding alone.
11:19 AMTechCrunch
Nscale buys Anyscale as it seeks to own more of the AI compute stack
Summary
British AI neocloud Nscale is acquiring Anyscale, a software company that helps organizations scale AI workloads across data centers and servers. The deal expands Nscale's position beyond infrastructure capacity into the software layer used to manage workloads.
The acquisition reflects a push to combine computing resources with the tools needed to use
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
AI infrastructure companies are consolidating software and compute to capture more value from rapidly growing workloads.
11:08 AMPackaging Dive
Greif acquires Spanish polymer container producer Envaplast
Summary
Greif has acquired Spanish polymer container producer Envaplast. The company also reported business improvements despite the effects of the war in Iran and said it reached $90 million in cost cuts ahead of schedule.
The acquisition expands Greif's position in polymer packaging while its early cost savings improve the
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
Greif is pairing consolidation with cost control as packaging companies face pressure to improve margins.
10:04 AMFinextra
Equals to acquire OFX
Summary
OFX has entered into a Transaction Process Deed for an all-cash acquisition by Equals, the direct owner of Equals Group. The proposed deal would transfer 100% of OFX's issued share capital to Equals, subject to the transaction process and required approvals.
The proposed acquisition would combine two international payments businesses and broaden Equals' scale across cross-border
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
The deal signals renewed consolidation among specialist cross-border payments providers.
8:53 AMUtility Dive
Under pressure, Entergy looks to mitigate cost of $1.8B Texas gas plant purchase
Summary
Entergy is seeking ways to reduce the financial burden of its planned $1.8 billion purchase of the Cottonwood gas plant. Executives acknowledged the facility is older and that the transaction is increasingly uncertain.
The deal is now a capital-allocation problem rather than a straightforward capacity acquisition. Entergy may
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
A troubled purchase could force Entergy to absorb costs or prove that aging gas capacity still serves a durable reliability need.
6:34 AMEconomic Times Realty
Vedanta to demerge real estate business into Vedanta Property Platforms
Summary
Vedanta's board approved a draft scheme to demerge its real estate business into a separate entity, Vedanta Property Platforms. The portfolio includes about 2,200 acres of land and 55,000 square feet of residential and commercial properties.
The demerger separates Vedanta's surplus real estate assets from the parent company, creating a dedicated
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
A separate platform could unlock value from Vedanta's large land bank while making its real estate strategy easier to assess.
12:01 AMWWD
EXCLUSIVE: TSG Consumer Acquires Majority Stake in Saltair, Iskra Lawrence to Serve as Chief Community Advocate
Summary
TSG Consumer Partners has acquired a majority stake in fast-growing body care brand Saltair. Model Iskra Lawrence will serve as the brand's chief community advocate.
The deal gives Saltair access to private equity capital and operational support as it moves
Unlock the full First Pass Analysis to get a better understanding of why this story mattersWhy it matters
The investment signals continued private equity interest in body care brands that combine rapid growth with strong creator and community appeal.
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!