London Stock Exchange Group (LSEG) is in talks with Permira to acquire credit intelligence firm Octus for approximately $3.5 billion. Founded in 2013, Octus provides data and workflow tools for investment firms and banks. Permira invested in the New York-based company in 2022. LSEG describes the potential deal as highly complementary to its existing fixed-income data and analytics offerings, and expects it to be immediately accretive to revenue growth.
In Italy, Palliser Capital has rejected the revised takeover offer for pharmaceutical company Recordati from CVC and GBL. The bid of €53 per share represents only a 3.3% increase from the previous May offer of €51.29. Palliser argues the price remains materially inadequate, falling short of the Bloomberg consensus target of €60.10 and barely above the lower bound of Rothschild’s DCF valuation. The firm also cites unresolved conflicts and coercive transaction structures, and confirms it will not tender its shares.
Meanwhile, PSG Equity is backing the merger of Be-Cloud and Quality Hosting, two Microsoft cloud specialists, to create a pan-European cloud services platform. The combined entity will serve over 50,000 SMBs and 2,000 partners across France, DACH, and Benelux, with plans to expand via organic growth and M&A in cloud, cybersecurity, and AI.
Source: PE Hub · Summarized by HeadlinesBriefing