Mergers And Acquisitions

Grünenthal Buys Bayer's Stivarga in Deal Worth Up to €375M

Aachen, Germany – September 21, 2026 -- Grünenthal has agreed to acquire Bayer AG's oncology drug Stivarga® (regorafenib) for up to €375 million, adding an oral cancer treatment sold in more than 90 markets to its portfolio.

Grünenthal expects Stivarga to add up to €100 million to EBITDA in 2027

The German pharmaceutical company said the acquisition is immediately accretive to its business, with an estimated positive impact on consolidated EBITDA of approximately €100 million for the year ending December 31, 2027. That projection assumes the deal closes by the end of 2026 or early 2027 and includes a full year of consolidation.

Global M&A Value Up 15% as Megadeals Hit Record 37 in 2026

Boston – September 21, 2026 -- Global M&A value climbed 15% year over year in the first eight months of 2026, exceeding the ten-year average by 11%, according to a new report from Boston Consulting Group (BCG). The number of megadeals worth $10 billion or more rose to 37 from 24 a year earlier, surpassing 2021's record of 32.

Megadeal surge masks a narrower recovery below the top of the market

Transactions valued at $1 billion or more are running above longer-term norms, but deal volume for small-cap and midcap transactions remains below historical levels even before inflation adjustments. BCG's M&A Sentiment Index rose to 83 from 79 at the start of the year, still well below its long-term average of 100.

Allegiant Wins Skytrax Best Low-Cost Airline Award Third Year Running

Las Vegas – – September 20, 2026 -- Allegiant Travel Company (NASDAQ: ALGT) has been named 2026's Best Low-Cost Airline in North America by Skytrax, marking the third consecutive year the carrier has won the title. The airline received the award during Skytrax's World Airline Awards ceremony in London, an event widely regarded as the industry's top honor for customer service.

Skytrax survey counted 24.8 million eligible entries from over 100 nationalities

The rating organization conducted the world's largest airline passenger satisfaction survey to determine the winners, running from September 2025 through August 2026. "We congratulate Allegiant on this fabulous achievement by winning this third successive award as North America's Best Low-Cost Airline," said Edward Plaisted, Chief Executive Officer of Skytrax, citing strong customer recognition of the airline's service standards.

Cerity Partners to Acquire Iowa's Gilbert & Cook, Adding $2B in AUM

Chicago and Des Moines – September 20, 2026 -- Cerity Partners will merge with Gilbert & Cook effective at the end of September 2026, adding approximately $2 billion in assets under management and marking the firm's first entry into the Iowa market.

Gilbert & Cook brings $2 billion in AUM and 30 years of client relationships to the deal

Founded in 1993 and based in West Des Moines, Iowa, Gilbert & Cook has built a national reputation advising individuals, families and business owners on integrated financial planning and investment management. Following the merger, the firm will operate under the Cerity Partners name, giving its clients access to an expanded suite of services including business owner advisory, multigenerational estate planning, private family office services, divorce financial planning and private markets investing.

PBT Declares $0.0196 Unit Payout as Waddell Ranch Costs Persist

Dallas – September 20, 2026 -- Argent Trust Company, as Trustee of the Permian Basin Royalty Trust (NYSE: PBT), declared a cash distribution of $0.019593 per unit, payable September 20, 2026, to unitholders of record September 20, 2026. The payout excludes any proceeds from the Waddell Ranch properties after production costs exceeded gross proceeds in August, extending a continuing excess cost position on those assets.

August Distribution Rises on Lower Trust Expenses

This month's per-unit distribution increased from the prior month primarily due to a decrease in Trust expenses. That gain was partially offset by lower oil and natural gas volumes and weaker oil pricing at the Texas Royalty Properties, even as natural gas pricing improved.

Merit Financial Adds $888M Chicago Practice in 11th 2026 Deal

Atlanta – September 20, 2026 -- Merit Financial Advisors has acquired the practice of veteran advisor Tim Brennan, adding approximately $888 million in client assets and more than 1,000 households to the Georgia-based wealth manager's book. The deal, effective September 20, 2026, marks Merit's eleventh acquisition of the year and its 62nd since inception, pushing firm-wide assets to more than $32.92 billion across over 70 offices nationwide.

Brennan exits nearly 27-year Commonwealth affiliation for Merit platform

Brennan, who spent 37 years in financial services, previously operated through a firm affiliated with Commonwealth Financial Network for close to 27 years before joining Merit. His Deerfield, Illinois-based practice focuses on business owners and high-net-worth families, built almost entirely through referrals.

BEN Files SEC Financials Showing Cataneo Cash Flow Doubled to $1.85M

Wilmington, Del. – September 20, 2026 -- Brand Engagement Network Inc. (Nasdaq: BNAI) has filed a Form 8-K/A with the U.S. Securities and Exchange Commission disclosing audited financials for Cataneo GmbH, the Munich-based advertising infrastructure software provider it acquired on September 20, 2026.

Cataneo's operating cash flow more than doubled to $1.85 million in fiscal 2025

The figure rose from $848,000 in fiscal 2024, according to the audited financial statements included in the filing. Operating income also more than doubled year over year, reaching $726,065 in fiscal 2025 versus $345,725 in fiscal 2024, on revenue of $9.6 million.

Luca Mining to Acquire Agnico Eagle's El Barqueño Gold Project for Up to $60M

Guadalajara, Mexico – September 20, 2026 -- Luca Mining Corp. has agreed to acquire the El Barqueño gold-silver-copper property in Jalisco, Mexico from a subsidiary of Agnico Eagle in a deal that could total up to $60 million in cash and shares plus royalty consideration.

Deal structure ties payments to drilling and production milestones

Luca will pay $10 million on closing through the issuance of its common shares, followed by up to $30 million in contingent payments: $15 million three months after the first drilling program begins, and $15 million upon commercial production. A further $20 million is tied to output, paid at $5 million for every 100,000 gold-equivalent ounces produced, capped at 400,000 ounces. Agnico Eagle will also hold a 2.0% net smelter return royalty on areas with currently defined mineral resources, which Luca can halve to 1% for $12.5 million.

Haymaker Acquisition Corp V Prices $250M SPAC IPO on NYSE

New York – September 20, 2026 -- Haymaker Acquisition Corp V priced an initial public offering of 25,000,000 units at $10.00 per unit, raising $250 million for its blank-check vehicle ahead of NYSE trading under ticker "HYACU" starting September 20, 2026.

Units begin trading on NYSE as offering nears close

Each unit comprises one Class A ordinary share and one-third of one redeemable warrant, with each whole warrant exercisable at $11.50 per share. The offering is expected to close on September 20, 2026, subject to customary conditions. An amount equal to $10.00 per unit will be deposited into a trust account upon closing.

Vega Upstream JV Closes $15M Toklan Oil and Gas Acquisition

Dallas – September 19, 2026 -- Vega Upstream JV, LLC has completed its acquisition of Toklan Oil and Gas Corporation and affiliated entities for a net purchase price of $15 million, adding 28 producing wells across roughly 7,000 net acres in the Western Anadarko basin.

Deal adds 250-well non-operated portfolio and midstream assets

Beyond the operated acreage, Toklan brings a non-operated interest portfolio spanning more than 250 wells, with combined operated and non-operated net production of approximately 500 BOE/d. The transaction also transferred West Thomas Field Services, which owns and operates the Deer Greek Gathering System and associated surface acreage, giving Vega JV midstream infrastructure alongside its upstream position.