MergerLinks Daily Review

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A consortium of investors led a $6.5bn Series I investment round in Stripe. (Financial Sponsors)

Apollo Global, JF Lehman and Hill City Capital completed the acquisition of Atlas Air Worldwide for $5.2bn. (FS)

Chart Industries completed the acquisition of Howden from KPS Capital for $4.4bn. (FS)

UBS and Credit Suisse oppose the idea of a forced merger.

BlackRock says not participating in any Credit Suisse takeover plan. (FS)

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A consortium of investors led a $6.5bn Series I investment round in Stripe. (FS)

A consortium of investors including Andreessen Horowitz , Baillie Gifford , Founders Fund , General Catalyst , MSD Partners , and Thrive Capital , led a $6.5bn Series I investment round in Stripe , a financial services and software as a service company, with participation from GIC , 高盛 and Temasek .

"Over the last 12 years, current and former Stripes have helped build foundational economic infrastructure for millions of businesses around the world, and this transaction gives them the opportunity to access the value they've helped create. But the internet economy is still young, and the opportunities of the next 12 years will dwarf those of the recent past. There's so much to discover and to create. For us, it's now back to work," John Collison, Stripe Co-Founder and CEO.

Stripe was advised by 高盛 , J.P. 摩根 and Ropes & Gray LLP .?

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Apollo Global, JF Lehman and Hill City Capital completed the acquisition of Atlas Air Worldwide for $5.2bn. (FS)

Private equity firms Apollo Global Management, Inc. , JF Lehman and Hill City Capital completed the acquisition of Atlas Air Worldwide, a global provider of outsourced aircraft and aviation operating services, for $5.2bn.

"Today marks the start of an exciting new chapter for Atlas, and we are eager to begin our partnership with Apollo, J.F. Lehman and Hill City. With the support and resources of our investor partners, we are well-positioned to achieve our growth objectives while continuing to serve the increasingly complex global supply chain. I want to thank the entire Atlas team, whose customer focus and dedication made this milestone possible. I look forward to the opportunities this next phase provides for our Company and our employees," John Dietrich, Atlas Air President and CEO.

Atlas Air Worldwide was advised by 摩根士丹利 , Cravath, Swaine & Moore LLP (led by Robert Townsend and Keith Hallam ) and Abernathy MacGregor Group (led by Dan Scorpio ). Morgan Stanley was advised by Latham & Watkins . JF Lehman was advised by 众达律师事务所 (led by Andy Levine ). Apollo Global was advised by Barclays , Evercore , 高盛 , Mizuho Securities , Paul, Weiss, Rifkind, Wharton & Garrison LLP (led by Brian Finnegan and Gregory Ezring) and Joele Frank (led by Jonathan Keehner ). Debt financing was advised by Apollo Global Management, Inc. , Barclays , 东方汇理银行 , 高盛 and Mizuho Securities .

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Chart Industries completed the acquisition of Howden from KPS Capital for $4.4bn. (FS)

Chart Industries, Inc. , a manufacturer of highly engineered equipment servicing multiple applications, completed the acquisition of Howden, A Chart Industries Company , a provider of air and gas handling solutions, from KPS Capital Partners , a private equity firm, for $4.4bn.

"We are excited to welcome the Howden team to the Chart family and look forward to the combined business executing on record momentum and well-defined synergies. Since we announced the combination in November 2022, Chart has received numerous inbounds from customers that see the combined benefits we can offer," Jill Evanko, Chart CEO and President.

Howden was advised by Barclays , Evercore , J.P. 摩根 , 摩根士丹利 and Paul, Weiss, Rifkind, Wharton & Garrison LLP (led by Angelo Bonvino, Michael Vogel and Monica Thurmond ). Chart Industries was advised by 美国银行 , CMS (led by Dr. Tobias Grau ) and Winston & Strawn LLP . KPS Capital was advised by Dentons (led by Stephen Levy and Nigel W. ) and Stibbe (led by Eva Das and Rein van Helden ).

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UBS and Credit Suisse oppose the idea of a forced merger.

瑞银集团 and 瑞信 are opposed to a forced merger, even as scenario planning for a government-orchestrated tie-up continues.

UBS would prefer to focus on its own wealth-centric standalone strategy and is reluctant to take on risks related to Credit Suisse. Its smaller rival is seeking time to see through its turnaround after winning a liquidity backstop from the central bank.

Both UBS and Credit Suisse see a takeover as a potential measure of last resort given the significant hurdles and overlap from such a transaction. The government and the lenders are running through a whole range of scenarios, and it remains to be seen which additional steps will be taken beyond the liquidity backstop, Bloomberg reported.

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BlackRock says not participating in any Credit Suisse takeover plan. (FS)

BlackRock said it had no plans or interest in acquiring embattled Swiss lender 瑞信 , Reuters reported.

The Financial Times reported BlackRock had been working on a rival bid for Credit Suisse aiming to counter a plan for UBS to acquire the struggling bank. It later updated that story to include BlackRock's denial of any interest or involvement in such a deal.

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