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Welcome to MergerLinks Daily Review, your daily dose of M&A news before your morning coffee. Subscribe now and never miss a beat with MergerLinks. Lawyers mentioned: Krishna Veeraraghavan and Cullen Sinclair. PR mentioned: Samantha Cohen Gaspar and Peter Block. #MergersandAcquisitions #FinancialServices #Corporate

Hedge-fund billionaire Paul Marshall is nearing a deal to acquire Britain’s The Spectator magazine for more than $131m, as the would-be media mogul seeks to expand his roster of news outlets, WSJ reported. The deal, if completed, could be announced as soon as August 27. Monday is a public holiday in England. Ongoing talks to complete the deal could also delay any announcement. #MergersAcquisitionsDivestitures #Publisher #News

A group of lenders set to take over Red Lobster have tapped a recent chief executive of Asian restaurant chain P.F. Chang's’s to run the struggling seafood restaurant brand, WSJ reported. Damola Adamolekun, most recently a partner at private-equity firm Garnett Station Partners, would take over as Red Lobster’s CEO pending final court approval of the chain’s sale, which is scheduled for next month. #MergersAcquisitionsDivestitures #PrivateEquity #Restaurants

The venture capital group G Squared has raised $1.1bn for its latest fund to capitalise on growing investor demand for its strategy of buying pre-existing stakes in start-ups, FT reported. Founded in 2011 and based in Chicago, G Squared has backed technology groups such as artificial intelligence company Anthropic and cyber security specialist Wiz. #MergersAcquisitionsDivestitures #PrivateEquity #Technology

Private equity firms Summit Partners and Vista Equity Partners are exploring a potential sale of Trintech that could value the financial software provider at about $2bn, including debt, Reuters reported. Trintech's owners are working with investment bankers at Deutsche Bank on a sale process that could attract interest from other private equity firms. #MergersAcquisitionsDivestitures #PrivateEquity #Software

Quest Diagnostics, a diagnostic information services provider, completed the acquisition of LifeLabs Medical Laboratory Services, a community laboratory tests provider, from OMERS, an investment company, for $985m. "This acquisition brings together two industry leaders committed to enhancing access to diagnostic innovation for patients in North America. The combination of LifeLabs' strong business and deep community presence with Quest's specialized lab services and expertise creates a powerful opportunity to generate growth while improving care and outcomes for Canada's expanding and aging population," Jim Davis, Quest Diagnostics Chairman, CEO and President. Quest Diagnostics was advised by McCarthy Tétrault and FGS Global (led by Peter Block). LifeLabs was advised by CIBC World Markets, Evercore, and Blake, Cassels & Graydon LLP. #MergersAcquisitionsDivestitures #PrivateEquity #Lab

KKR, a global investment firm, completed the acquisition of Varsity Brands, an American apparel company, from private equity firms Bain Capital and Charlesbank Capital Partners. Financial terms were not disclosed. "Varsity Brands is a leading solutions-oriented services provider with a mission to elevate the student experience through sport and spirit, helping schools and teams foster greater participation, enthusiasm and community," Felix Gernburd, KKR Partner. KKR (led by Angad Singh, Felix Gernburd, and Emily Cummings) was advised by Goldman Sachs, Jefferies, and Simpson Thacher & Bartlett LLP. Varsity Brands (led by Adam Blumenfeld) was advised by Bank of America, William Blair, and Kirkland & Ellis. #MergersAcquisitionsDivestitures #PrivateEquity #Clothing

CBC Group, Asia’s largest healthcare-dedicated asset management group, and Mubadala, the Abu Dhabi based investment company, agreed to acquire the Chinese neurology and allergy business of UCB, a multinational biopharmaceutical company headquartered in Brussels, for $680m. "The demand for central nervous system products in China has been increasing over the past decade, and by leveraging CBC’s unique investor-operator approach, we are excited to channel our expertise, resources and platform synergies to meet these evolving needs and drive value for our stakeholders. This strategic deal aligns with CBC’s strategy of investing in high potential companies with quality products, strong brand equity, dedicated talents and steady growth outlook. It will complement our existing healthcare ecosystem, serving as an anchor asset to further build out a leading integrated CNS biopharma platform in China that will deliver gold standard treatment to more patients nationwide," Wei Fu, CBC Group CEO. CBC Group (led by Wei Fu) and Mubadala (led by Mohamed Albadr) is advised by PJT Partners and Clifford Chance. UCB (led by Jean-Christophe Tellier and Sandrine Dufour) is advised by Lazard Asset Management and Freshfields Bruckhaus Deringer. #MergersAcquisitionsDivestitures #Healthcare #Pharmaceuticals

DRIVEiT Auto Group, an electric vehicle superstores operator, agreed to go public via SPAC merger with Yotta Acquisition, a publicly traded special purpose acquisition company, in a $100m deal. “We are very excited about this opportunity and the future for all Yotta and DRIVEiT stockholders. DRIVEiT is an industry first innovator building an EV superstore, encompassing everything from sales, service, parts and collision repair with laser focus on a unique customer experience. In our partnership with Yotta, the future is now as we set the bar for retail EV car buying and ownership experience,” Shawn Hughes, DRIVEiT CEO. DRIVEiT Financial Auto Group is advised by EarlyBirdCapital and Loeb & Loeb LLP. Yotta Acquisition (led by Hui Chen and Robert Labbe) is advised by Celine & Partners. #MergersAcquisitionsDivestitures #Automotive #ElectricVehicles

Welcome to MergerLinks Daily Review, your daily dose of M&A news before your morning coffee. Subscribe now and never miss a beat with MergerLinks. Lawyers mentioned: Mark Kurtenbach, David Holland, shaun hartley, Daniel Breslin, Jonathan Gill, John Cobb and Jennifer Yount. PR mentioned: Martin Robinson and Jim Yeager. #MergersandAcquisitions #FinancialServices #Corporate