Pets at Home shares soared 14 percent on February 26 following speculation that private equity firm BC Partners is preparing a takeover bid.

Investor discussions intensified after multiple bid vehicles, including Pug Bidco Limited, were registered on February 24. These entities share an address with BC Partners’ London office, and their listed director matches the name of Michael Chang, the firm’s New York-based co-head of healthcare. Chang is also linked to BC Partners’ investment in US pet retailer PetSmart, fueling further speculation about a potential deal.

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KKR solidified its position as the majority owner of Japan’s Fuji Soft, acquiring nearly 58% of the software developer after a two-stage tender offer. 

The deal, valued at approximately $4.1bn, marks the end of an intense takeover battle with Bain Capital, which ultimately withdrew its bid earlier this week.

KKR’s buyout of Fuji Soft is set to become Japan’s largest take-private deal this year, according to LSEG data. The private equity firm pursued an unconventional two-stage acquisition process, repeatedly raising its offer in response to Bain’s competing bids. In the final round, KKR’s offer of ¥9,850 per share secured the necessary stake to proceed with a squeeze-out of remaining investors.

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Shares in Walgreens Boots Alliance (WBA) soared 11% in New York following reports of ongoing takeover discussions with private equity firm Sycamore Partners.

The potential deal has reignited speculation about the future of Boots, one of the UK’s most recognised high street pharmacy brands.

According to reports, WBA and Sycamore have been in discussions for a buyout that could be finalised this year. If the deal proceeds, Sycamore is expected to sell off parts of the business, raising questions about Boots’ long-term ownership and strategic direction.

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Silver Lake and Singapore’s sovereign wealth fund GIC finalized their $1.7bn acquisition of monetization platform Zuora, officially taking the company private.

The all-cash deal, valued at $10 per share, follows Silver Lake’s $400m strategic investment in 2022.

Zuora’s software helps businesses manage pricing, billing, payments, and revenue recognition. The company serves over 1,000 clients, including General Motors, The New York Times, Caterpillar, and Zoom. Founder and CEO Tien Tzuo highlighted that Silver Lake and GIC’s backing will strengthen Zuora’s ability to drive financial operations innovation and support evolving revenue models.

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Private equity firms Warburg Pincus, EQT AB, and KKR are among potential buyers evaluating a takeover of Gerresheimer, the German medical packaging company, according to a Bloomberg report.

The company confirmed it is in early-stage discussions with private equity investors but emphasized that there is no certainty a public takeover offer will materialize.

Following reports that Gerresheimer is working with advisers to assess interest from suitors, its shares surged as much as 15%. The company stated that it would carefully evaluate any proposals in the best interest of its stakeholders. 

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