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Global M&A hit a record $2.8 trillion in H1 2026, up 48% YoY, as mega-deals and AI infrastructure spending reshaped the landscape. Industrial M&A alone reached $173 billion, with mega-deals now accounting for 56% of value, up from 18%.
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GameStop has doubled its eBay stake to 9.8% after CEO Ryan Cohen’s initial $93-a-share offer was rejected. The video-game retailer is now weighing a direct appeal to shareholders.
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Eli Lilly is buying psychedelic-drug developer AtaiBeckley for up to $3.8 billion, its biggest bet yet on a novel treatment for hard-to-treat depression. The deal’s lead asset, BPL-003, showed a single dose can slash symptoms for months and has already won FDA breakthrough status.
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Uber is acquiring Delivery Hero for roughly $14.8 billion, adding 20 new markets to its global footprint. The deal, which includes a carve-out for 14 markets via SSW Partners, is set to close in the second half of 2027.
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California and 11 other states sued Monday to block Paramount Skydance’s $111 billion acquisition of Warner Bros. Discovery, alleging the deal violates antitrust law. Oracle (ORCL) shares slid 6.5% in after-hours trading on the news.
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Oregon’s probe forces a delay past July 22, and a coalition of state attorneys general is finalizing a lawsuit that could land as early as next week. The DOJ already cleared the deal, setting up a federal-vs-state showdown.
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Novartis is paying up to $1.5 billion for Myricx Bio and its next-gen NMTi payload platform, aiming to crack the resistance problem plaguing today’s antibody-drug conjugates.
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Qualcomm (QCOM) is in advanced talks to acquire AI chip startup Modular for roughly $4 billion, sending shares up more than 6% intraday. The deal would mark a major strategic push into data-center AI chips, directly challenging Nvidia.
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Kroger is back on the M&A trail, striking a $1.65 billion deal for regional grocer Giant Eagle. The acquisition marks the company’s first major move since its failed Albertsons merger and a key test for new CEO Greg Foran.
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Salesforce (CRM) popped over 4% in after-hours trading after CrossCountry Consulting bought Dupont Circle Solutions, a Salesforce-focused tech consultancy, adding 60+ staff and sharpening its AI-driven revenue operations.