Delivery Hero’s CEO Niklas Oestberg will step down by March 2027 as major shareholders pressed the company to launch a strategic review. Delivery Hero is now searching for a successor and aims to finish the process by the end of 2026. Oestberg will remain in charge of the review and M&A efforts until a replacement is found.
Citibank has appointed Raj Rathi as its new head of mergers and acquisitions in India, effective June 2026. He will oversee Citi’s M&A operations, advising on major transactions and strengthening relationships with clients across priority sectors. Rathi previously worked at Dream Sports, marking a shift from startup deal activity to leading one of the world’s banking deal teams in India.
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Finnish lift maker Kone plans to acquire German rival TK Elevator in a $34-billion deal, positioning it among Europe’s biggest takeovers in recent times. The agreement involves TK Elevator’s private equity owners Advent International and Cinven, plus other investors. Together, the combined company would employ over 100,000 people and generate more than 20 billion euros in annual revenue.
Palo Alto Networks will acquire Portkey, an AI infrastructure startup backed by Elevation Capital, to strengthen defenses for autonomous AI systems. The deal is designed to give enterprises a centralized control plane to manage and secure AI agents. The acquisition is expected to close in Palo Alto Networks’ fourth quarter of fiscal 2026, pending regulatory approvals.
Sun Pharma is strengthening its global footprint with the acquisition of New Jersey based Organon. The deal expands its portfolio across dermatology, oncology, and women’s health while creating a route into markets such as China and Brazil. With strong finances underpinning the move, Sun expects quicker returns as it scales the combined capabilities and reach.
India’s real estate deal value fell 63% in Jan–Mar 2026 to $763 million, even as transaction count stayed relatively steady at 32. The drop was driven by fewer large, high-value deals, with private equity and M&A activity also weakening. Analysts point to a value squeeze despite maintained volume, highlighting a tougher funding and acquisition environment.
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India’s Competition Amendment Bill targets delays in merger and acquisition approvals by pushing stricter, faster review timelines. Backers argue the updated approach is needed for today’s fast-moving markets, while companies may face tighter procedural deadlines for regulatory clearance. The bill’s changes aim to reduce waiting periods and accelerate decisions on M&A transactions.
Inventurus Knowledge Solutions (IKS) is reportedly close to acquiring TruBridge and is lining up an offshore loan of $675 million to fund the deal. Citigroup, JPMorgan Chase, and Deutsche Bank are among the banks involved in arranging the financing. If completed, the transaction would be IKS’s largest acquisition to date, signaling an aggressive expansion push.
Agro Tech Foods, parent of Sundrop oils and ACT II popcorn, is set to acquire Del Monte India for INR 1,300 crore. ET Prime explores how combining these brands could unlock distribution, manufacturing, and brand synergy, and what it could mean for India’s packaged condiment category, where consumers already have established habits and strong competition.
NIIF is reportedly in talks with Temasek for a potential $1.7 billion acquisition of Sprng Energy, intensifying a competitive sale process. Along with NIIF and Temasek, Actis, the AV Birla Group, and KKR are also in the fray. Binding bids are expected in the coming days, setting up a high-stakes race for the renewable power asset.
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Bain Capital has become the frontrunner to acquire Vitabiotics after TPG Capital and EQT exited the bidding process. The move could reduce the company’s expected valuation of about £900 million. Vitabiotics, founded in 1971, is the UK’s largest multivitamin maker and sells across markets including India and China, with its India business contributing around 20% of revenue.
Chalet Hotels Limited is set to acquire Seasons Hotels Private Limited, which owns Inder Residency Resort & Spa in Udaipur. The transaction is valued at Rs 171 crore for the 144-room property. The move will mark Chalet Hotels’ entry into Udaipur, with plans to upgrade the resort into an upper upscale destination aimed at attracting higher-end travelers.
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