- Axel Springer is backing a £500 million ($674M) bid for Telegraph Media Group, led by Dovid Efune.
- Pleasant Lake Partners disclosed a roughly 10% stake in Funko (FNKO) and suggested the company explore strategic alternatives, including a potential sale.
- Novartis will sell its entire 70.68% stake in its Indian unit to a private equity-led consortium for about $159 million, as part of global restructuring.
- Swiss Re Corporate Solutions agreed to acquire QBE Insurance Group’s global trade credit and surety business, expected to generate $200 million in annual revenue.
- J&F, the holding company of Brazil’s Batista family, is reportedly considering acquiring a controlling stake in CSN Cimentos, the cement unit of CSN.