1,086 material Form 8-K filings that 883 companies we cover made with the SEC in July 2025, each read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). All of them were written later, when past filings were added: a selection, not every 8-K of the month (see the note below).
On July 31, 2025, WisdomTree agreed to acquire Ceres Partners, a U.S. farmland investment manager, for $275.0 million in cash at closing plus up to $225.0 million in earnout payments in 2030. The deal is expected to close in Q4 2025, subject to regulatory approvals, consents and financing. The same day, WisdomTree reported Q2 2025 operating revenues of $112.6 million, up 4.2% from Q1, and net income of $24.8 million, or $0.17 per diluted share.
Cash consideration of $275.0 million at closing, subject to customary adjustments; earnout of up to $225.0 million payable in 2030 if Ceres meets a 12% to 22% revenue compound annual growth rate for 2025 to 2029
Ceres has approximately $1.85 billion in assets under management across about 545 U.S. farmland properties in 12 states, per the press release
Agreement terminates if closing has not occurred by December 31, 2025, unless the parties agree to extend
Q2 2025 operating income margin was 30.8%, down from 31.6% in Q1, which the company attributed mainly to $2.0 million of acquisition-related costs
StoneX completed its acquisition of R.J. O'Brien (RJO) on July 31, 2025, paying aggregate consideration of $610,566,926 in cash, subject to post-closing adjustment, plus 3,085,554 shares of StoneX common stock. The cash was partly funded by $625,000,000 of 6.875% senior secured notes due 2032, which were issued in July and released from escrow at closing; the notes are now secured on a second priority basis by substantially all company and guarantor assets. Shareholders face a larger combined company with more debt secured by company assets and new shares issued, and the company says the deal is expected to be accretive to earnings.
Cash consideration of $610,566,926, subject to post-closing adjustment, plus 3,085,554 shares of common stock issued as merger consideration
$625,000,000 of 6.875% Senior Secured Notes due 2032, issued under a July 8, 2025 indenture, were released from escrow on closing to help fund the cash price and fees
Notes are secured on a second priority basis by liens on substantially all company and guarantor assets, subject to exceptions
Per the press release, RJO generated $766 million in revenue and approximately $170 million in EBITDA in calendar 2024; the company expects the deal to be accretive to earnings
Equitable Holdings said its insurance subsidiaries closed a transaction with RGA Reinsurance Company to reinsure 75% of their in-force individual life insurance block, with an effective date of April 1, 2025. The company says the deal generates more than $2 billion of value and reduces exposure to future mortality volatility, while the subsidiaries continue to administer the reinsured contracts. Second-quarter results are due after the market closes on August 5, 2025.
Deal closed July 31, 2025 under a Master Transaction Agreement dated February 23, 2025, with RGA Reinsurance Company
Ceding companies reinsured a 75% quota share of their in-force individual life insurance blocks, with assets placed in trust accounts to secure obligations
AllianceBernstein agreed on June 16, 2025 to manage assets representing approximately 70% of reserves tied to the ceded policies
Equitable Holdings reports second-quarter results after the market closes on August 5, 2025, with an investor call on August 6, 2025
Boyd Gaming's subsidiary completed the sale of its 5% equity interest in FanDuel on July 31, 2025, receiving aggregate cash consideration of $1.758 billion. The company said it intends to use the proceeds to repay existing debt. The filing also describes new and terminated agreements, including a longer-term market access arrangement and a move of FanDuel-branded sportsbooks at Boyd properties to Boyd branding and operation.
Cash consideration received: $1.758 billion, stated in both the 8-K and the press release
Boyd intends to use the proceeds to repay existing debt
The 8-K names TSE Holdings Ltd. as the buyer; the press release names Flutter Entertainment plc (NYSE: FLUT)
FanDuel-branded sportsbooks at Boyd Gaming properties will be branded and operated entirely by Boyd entities, using certain FanDuel sports betting data feeds
Supernus Pharmaceuticals completed its acquisition of Sage Therapeutics after 36,313,509 Sage shares, about 58% of those outstanding, were tendered by the July 30, 2025 expiration of the offer. Sage is now a wholly owned subsidiary, and the Sage shares will be delisted from the Nasdaq Global Market. The total cash consideration excluding contingent value rights is approximately $561 million, and the CVRs add up to $3.50 per share in potential future payments tied to milestones that may never be reached.
Offer price was $8.50 per Sage share in cash plus one contingent value right worth up to $3.50 per share
Aggregate consideration is approximately $561 million, excluding amounts that may be payable under the CVRs
Maximum total CVR payments are approximately $234 million, with milestones tied to ZURZUVAE net sales and a Japan approval by June 30, 2026
The merger closed on July 31, 2025 without a Sage stockholder vote, and the Sage shares will be delisted from the Nasdaq Global Market
Euronet Worldwide agreed on July 30, 2025 to acquire CoreCard Corporation in a stock-for-stock merger that values CoreCard at approximately $248 million, or $30 per share. CoreCard shareholders would receive Euronet shares under an exchange ratio that moves between 0.2783 and 0.3142 depending on Euronet's stock price, and the deal requires CoreCard shareholder approval and regulatory clearance, with closing expected in late 2025.
Merger consideration is $30 per CoreCard share, paid in Euronet common stock using an exchange ratio of 0.2783 to 0.3142.
Exchange ratio is fixed at 0.3142 if Euronet's stock price is at or below $95.48 and 0.2783 if it is at or above $107.80.
CoreCard would pay Euronet a $7.5 million termination fee under specified circumstances.
Outside Date is January 30, 2026, subject to two automatic three-month extensions in certain cases.
Verisk agreed on July 29, 2025 to acquire ExactLogix, which operates as AccuLynx, for an aggregate purchase price of $2.35 billion in cash, subject to customary adjustments. The company said it will fund the deal through committed debt financing and cash on hand, and that closing is expected in the second half of 2025, subject to regulatory approvals and other conditions. Verisk said the deal is expected to be additive to revenue growth and adjusted EBITDA margin and accretive to adjusted EPS by year end 2026.
Merger agreement dated July 29, 2025; ExactLogix will survive as a wholly owned subsidiary of Verisk
Aggregate purchase price of $2.35 billion in cash, subject to adjustments for indebtedness, cash, working capital and transaction expenses
Funding through committed debt financing and cash on hand; Goldman Sachs Bank USA is lead arranger on bridge financing
Closing expected in the second half of 2025, subject to ExactLogix equityholder approval, HSR antitrust waiting period expiration and no material adverse effect
Norfolk Southern signed a merger agreement on July 28, 2025, under which Union Pacific will acquire it through a stock-and-cash transaction. Each Norfolk Southern share would convert into one Union Pacific share plus $88.82 in cash, and the deal requires Surface Transportation Board approval and shareholder votes at both companies.
Each Norfolk Southern share converts into one Union Pacific share plus $88.82 in cash
Either party may terminate if the mergers are not completed by January 28, 2028, subject to certain extensions
$2.5 billion termination fee payable by Union Pacific in certain regulatory-failure cases; a $2.5 billion fee applies to each party under specified circumstances
Three Norfolk Southern directors, including Mark George and Richard Anderson, would join Union Pacific's board
Norfolk Southern reported second-quarter 2025 revenue of $3.1 billion and diluted earnings per share of $3.41, up from $3.25 a year earlier, and narrowed its full-year revenue growth outlook to 2%-3%. The same day, it agreed to combine with Union Pacific in a stock and cash deal valued at an implied $320 per share, which would change what Norfolk Southern shareholders receive.
Under the agreement, Norfolk Southern shareholders receive 1.0 Union Pacific common share and $88.82 in cash per share; the implied total enterprise value is $85 billion, based on Union Pacific's July 16, 2025 closing price.
Q2 2025 net income was $768 million, up from $737 million; railway operating revenues were $3.1 billion, an increase of $66 million.
For 2025, the company expects revenue growth of 2%-3% and an adjusted operating ratio improvement of 100-150 basis points versus 2024, but says third-quarter 2025 is expected to be pressured.
Norfolk Southern will not hold a second-quarter 2025 earnings call because of the announcement; a joint investor call with Union Pacific is set for 8:30 AM ET on July 29, 2025.
Duke Energy's subsidiary Piedmont Natural Gas agreed on July 27, 2025 to sell its Tennessee natural gas distribution business to Spire Inc. for $2.48 billion in cash, subject to adjustments. The company said net proceeds of $1.5 billion will help fund its $83 billion five-year capital plan, and it reaffirmed its 2025 adjusted EPS guidance.
Purchase price is $2.48 billion in cash, subject to adjustments for net working capital, regulatory assets and liabilities, and capital expenditures at closing.
About $800 million of proceeds will offset debt at Piedmont; net proceeds of $1.5 billion will fund Duke's $83 billion five-year capital plan.
Closing is expected in the first quarter of 2026, subject to Tennessee Public Utility Commission approval and the Hart-Scott-Rodino waiting period.
Duke reaffirmed its 2025 adjusted EPS guidance range of $6.17 to $6.42.
Baker Hughes agreed to buy Chart Industries in an all-cash deal valued at $13.6 billion in enterprise value, with Chart shareholders receiving $210 per share. Baker Hughes has a $14.9 billion bridge loan commitment to fund the deal, and the companies expect to complete it by mid-year 2026, subject to Chart shareholder and regulatory approvals.
Chart shareholders will receive $210 per share in cash; enterprise value is $13.6 billion
Baker Hughes has a bridge loan commitment of up to $14.9 billion, expected to be replaced with permanent debt financing before close
Baker Hughes projects net leverage of 2.25x at close, de-leveraging to 1.0-1.5x within 24 months after close
Chart would pay Baker Hughes a $250 million termination fee under specified circumstances; Baker Hughes would pay $500 million in certain regulatory or legal failure cases
Northwest Bancshares (NWBI) completed its merger with Penns Woods Bancorp effective July 25, 2025, with Penns Woods shareholders receiving 2.385 Northwest common shares for each Penns Woods share. The deal adds 21 branch locations in North Central and Northeastern Pennsylvania, bringing Northwest to 151 financial centers across Pennsylvania, New York, Ohio, and Indiana. Penns Woods CEO Richard Grafmyre joined the Northwest and Northwest Bank boards.
Merger completed effective July 25, 2025; Merger Agreement dated December 16, 2024
Each Penns Woods common share converted into 2.385 shares of Northwest common stock, with cash paid for fractional shares
Penns Woods' Luzerne Bank and Jersey Shore State Bank merged into Northwest Bank
Richard Grafmyre, former Penns Woods CEO, appointed to Northwest board; second quarter 2025 results scheduled for release after market close on July 29
Waystar signed a merger agreement to acquire Iodine Software, a clinical intelligence software company, for an enterprise value of $1.25 billion, consisting of about $625 million in cash and Waystar common stock. The company also reported preliminary second quarter 2025 revenue of approximately $271 million, up about 15% year over year, and said the deal will bring Iodine's equity holders about 8% of the combined company. Closing is subject to customary conditions and regulatory approvals, with a termination date of November 23, 2025.
Enterprise value of $1.25 billion, including about $625 million in cash consideration plus Waystar shares issued to Iodine's Parent equityholders
Current Waystar shareholders expected to own about 92% of the combined company; Iodine equity holders about 8%
Estimated adjusted net leverage ratio at closing of about 3.5x; closing expected by year-end 2025
Preliminary Q2 2025 revenue of about $271 million, about 15% year-over-year growth; full results due July 30, 2025
Corpay agreed to buy Alpha Group International plc, a UK and European B2B cross border FX provider, for £42.50 per share in cash, implying an enterprise value of about £1.6 billion ($2.2 billion). Corpay has arranged a £1.875 billion bridge loan to fund the cash consideration and deal costs, and it reaffirmed its Q2 2025 guidance. The deal requires Alpha shareholder and court approval and is expected to close in the fourth quarter of 2025.
Alpha shareholders would receive £42.50 per share in cash, a 55% premium to the undisturbed closing price on May 1, 2025
Corpay entered a bridge term loan with BOFA Securities, Barclays and JPMorgan Chase for a £1.875 billion facility
Directors and Morgan Tillbrook have irrevocably undertaken to vote for the scheme, covering about 13.83% of Alpha's shares
Alpha Court Meeting and General Meeting expected September 2, 2025; the deal can terminate if not completed by May 23, 2026
Lantheus said on July 21, 2025 it completed its acquisition of Life Molecular Imaging Limited from Life Healthcare Group, paying an upfront cash amount of $350 million after purchase price adjustments. The deal adds Neuraceq, an F-18 PET imaging agent used to detect beta-amyloid plaques in patients evaluated for Alzheimer's disease, along with commercial infrastructure and R&D capabilities. The filing does not provide financial results or guidance for the acquired business.
Upfront cash payment of $350 million to the seller, after applicable purchase price adjustments
Transaction completed July 21, 2025; agreement first announced January 12, 2025
Dr. Ludger Dinkelborg, formerly CEO of Life Molecular Imaging, becomes Head of Research and Development effective August 1, 2025, reporting to CEO Brian Markison
Asbury Automotive Group completed its acquisition of substantially all assets of The Herb Chambers Companies on July 21, 2025, for an aggregate net purchase price of approximately $1.45 billion. The deal adds 33 dealerships and 52 franchises in Massachusetts and Rhode Island, marking Asbury's entry into the Northeastern U.S. The purchase was funded with $750 million of added credit facility capacity, $546.5 million of real estate mortgage borrowings, and cash on hand, which adds significant debt for shareholders to consider.
Aggregate net purchase price of approximately $1.45 billion, including $750 million for goodwill and approximately $610 million for real estate and leasehold improvements
Senior Credit Facility expanded by $750 million; Real Estate Facility borrowings totaled $546,528,750 with a ten-year maturity
Acquired businesses had $3.2 billion in revenue in 2024 across 33 dealerships, 52 franchises and three collision centers
Financial statements and pro forma information will be filed by amendment within 71 calendar days
Par Pacific signed a definitive agreement to form ProjectCo, a joint venture for a renewable fuels facility co-located with its Kapolei Refinery in Hawaii. Alohi, owned by Mitsubishi and ENEOS, will hold a 36.5% stake for $100 million in cash, while Par Pacific keeps the remaining interest and runs the project; closing is expected in the second half of 2025.
Alohi Renewable Energy, owned by Mitsubishi and ENEOS, will hold 36.5% of ProjectCo for $100 million in cash
Par Pacific will commit cash contributions of up to $21,039,382, less qualifying construction costs from July 1, 2025 to closing
Facility is expected to be completed and operational by the end of 2025, producing about 61 million gallons per year
Transaction is expected to close in the second half of 2025, subject to customary conditions and regulatory approvals
Huntington Bancshares entered a merger agreement on July 13, 2025, under which Veritex Holdings would merge into Huntington, with each Veritex share converted into 1.95 Huntington shares. The deal requires Veritex shareholder approval and regulatory approvals, including from the Federal Reserve and the Office of the Comptroller of the Currency, so it is not yet complete and shareholders of both companies should weigh the terms once further filings are available.
Each Veritex common share will convert into 1.95 shares of Huntington common stock at the Effective Time.
Huntington will contribute $10 million to the Huntington Foundation, dedicated to markets where Veritex operates.
A $56 million termination fee is payable by Veritex under certain circumstances.
Completion requires Veritex shareholder approval, Nasdaq listing authorization, Federal Reserve and OCC approvals, and an effective Form S-4.
Talen Energy said its subsidiary agreed to buy two combined-cycle gas plants, Moxie Freedom in Pennsylvania and Guernsey in Ohio, from Caithness Energy for $1.46 billion and $2.33 billion in cash, subject to adjustments. Talen said the net price after estimated tax benefits is $3.5 billion, and it expects $3.8 billion in new debt to fund the deal, with closing expected in the fourth quarter of 2025 pending regulatory approvals. The company said the deal is expected to be accretive to free cash flow per share by over 40% in 2026, but the closing depends on regulatory approvals and financing conditions.
Purchase prices: $1.46 billion for Moxie Freedom (1,105 MW) and $2.33 billion for Guernsey (1,875 MW), with cash paid at closing
Talen expects to issue about $3.8 billion of new debt; debt commitment letters cover up to $1.2 billion of senior secured and $2.57 billion of senior unsecured bridge facilities
Closing is expected in Q4 2025 and requires FERC approval and HSR waiting-period clearance
Talen plans about $500 million of annual share repurchases through the 2026 deleveraging period
Synopsys completed its acquisition of Ansys on July 17, 2025, with Ansys becoming a wholly owned subsidiary. Ansys shareholders received 0.3399 Synopsys shares plus $199.91 in cash per share, and Synopsys funded the cash portion partly with a $4.3 billion term loan, which adds significant debt for shareholders to weigh.
Each Ansys share converted into 0.3399 Synopsys common share and $199.91 in cash, with the exchange ratio reduced to keep share issuance within 19.9999% of outstanding Synopsys shares.
Synopsys borrowed the full $4.3 billion available under its Term Loan Credit Agreement on July 17, 2025.
Synopsys terminated about $690 million in remaining bridge facility commitments, reducing bridge commitments to $0.
Ajei Gopal and Ravi Vijayaraghavan joined the Synopsys board effective at the Effective Time, and Ansys common stock will no longer be listed on NASDAQ.
Starwood Property Trust agreed to acquire Fundamental Income Properties, a net lease real estate platform majority owned by Brookfield Asset Management, for about $2.2 billion including debt, with closing expected on or about July 23, 2025. The company also gave preliminary second quarter results, showing GAAP earnings per diluted share of $0.36 to $0.38 and book value per share of $18.78 to $18.80, down from $18.87 at March 31, 2025, including a $44 million realized loss on a foreclosed office building sale.
Purchase price of approximately $2.2 billion, inclusive of indebtedness; the company will assume $1.3 billion of existing financing facilities, including $0.9 billion of asset-backed security debt
Expected closing on or about July 23, 2025, subject to customary closing conditions, with no assurance the deal closes on the anticipated terms or at all
Preliminary Q2 2025 GAAP EPS of $0.36 to $0.38 and Distributable EPS of $0.42 to $0.44, including $44 million ($0.13 per share) in realized losses from the Houston, Texas office building sale
Estimated book value per share of $18.78 to $18.80 at June 30, 2025, versus $18.87 at March 31, 2025; Q3 2025 dividend of $0.48 per share declared, payable October 15, 2025
SLB closed its acquisition of ChampionX Corporation on July 16, 2025, in an all-stock deal in which each ChampionX share was exchanged for 0.735 SLB common shares. Former ChampionX shareholders now own approximately 9% of SLB's outstanding common stock, and SLB expects about $400 million in annual pretax synergies within three years of closing.
Each ChampionX share exchanged for 0.735 SLB common shares, with cash in lieu of fractional shares
Former ChampionX shareholders own approximately 9% of SLB's outstanding common stock
SLB expects annual pretax synergies of approximately $400 million within three years post-closing
SLB remains on track to return $4 billion to shareholders in 2025
Boyd Gaming's subsidiary agreed on July 10, 2025, to sell its 5% equity interest in FanDuel to TSE Holdings Ltd. for $1.755 billion in cash, and the companies will also enter new commercial arrangements. The company says it intends to use the net proceeds to reduce debt, and the deal is expected to close in the third quarter of 2025, subject to regulatory approvals.
Cash consideration of $1.755 billion for Boyd's 5% FanDuel equity interest, subject to an adjustment described in the Purchase Agreement
Closing expected in the third quarter of 2025; if it does not close by July 18, 2025, Boyd is entitled to additional consideration; either party may terminate if no closing by December 19, 2025
Boyd's Online segment now expects $50 million to $55 million in operating income and Adjusted EBITDAR for full-year 2025, and approximately $30 million in 2026
Cavco Industries agreed on July 14, 2025 to acquire American Homestar Corporation, a Texas-based manufactured home builder and retailer, for a base price of $190 million in cash, to be funded from existing cash on hand. American Homestar had revenues of $194 million and net income of $16.6 million for the twelve months ended May 31, 2025, according to the company's press release; the deal is expected to close in Cavco's fiscal third quarter of 2026 and Cavco expects it to be accretive to earnings and cash flow from operations.
Base purchase price of $190 million in cash, subject to customary adjustments for indebtedness and working capital
American Homestar revenues of $194 million, net income of $16.6 million and Adjusted EBITDA of $17.8 million for the twelve months ended May 31, 2025
Closing expected in Cavco's third quarter of fiscal 2026; merger agreement can be terminated if not completed by October 31, 2025
Requires approval of at least 80% of American Homestar's voting power and Hart-Scott-Rodino waiting period expiration; American Homestar would pay a $6 million termination fee in specified circumstances
Becton, Dickinson and Company agreed on July 13, 2025 to combine its Biosciences and Diagnostic Solutions business with Waters Corporation through a spin-off and merger. BD expects to receive about $4 billion in cash, and its shareholders would own 39.2% of Waters after the deal, which both boards have unanimously approved.
BD receives approximately $4 billion in cash from SpinCo before the spin-off, subject to adjustments for cash, working capital and indebtedness.
BD shareholders would own 39.2% of the outstanding Waters common stock after the merger; existing Waters holders would own 60.8%.
Waters must pay BD a $733 million termination fee if the merger agreement is terminated under certain circumstances.
The merger must close by July 13, 2026, subject to extension tied to pending regulatory approvals, and requires Waters shareholder approval and antitrust clearance.
On July 13, 2025, Waters signed definitive agreements with Becton, Dickinson and Company (BD) and its spin-off subsidiary SpinCo to combine Waters with BD's Biosciences and Diagnostic Solutions business in a Reverse Morris Trust transaction. After closing, Waters shareholders would own about 60.8% of the combined company and former SpinCo shareholders about 39.2%, and the deal is subject to shareholder approval and regulatory approvals.
Waters shareholders would own approximately 60.8% and former SpinCo shareholders approximately 39.2% of Waters common stock on a fully diluted basis after the merger.
SpinCo will make a $4.0 billion cash payment to BD before the distribution, subject to adjustment.
Waters has a 364-day bridge loan commitment of $1.8 billion to fund part of a possible special dividend and transaction fees and expenses.
Closing requires Waters shareholder approval of the share issuance, effective registration statements, and certain U.S. and international regulatory approvals.
Perrigo agreed on July 13, 2025 to sell its Dermacosmetics branded business in Northern Europe, the Netherlands and Poland to Kairos Bidco AB, a vehicle managed by an affiliate of KKR, for €300 million in upfront cash plus up to €27 million in contingent payments. The business generated about €125 million in 2024 net sales and about 5% of Perrigo's 2024 adjusted operating income, and the company says expected net proceeds will go toward balance sheet strengthening and other capital allocation priorities. The deal is expected to close in the first quarter of 2026, subject to regulatory approvals and works council consultation.
Upfront cash of €300 million at closing, subject to customary adjustments for inventory, working capital, debt and cash
Up to €27 million in additional contingent payments tied to performance thresholds over three years
Business generated about €125 million in 2024 net sales and about 5% of 2024 adjusted operating income
Expected closing in the first quarter of 2026; either party may terminate if closing is not completed within 18 months of signing
Alpha & Omega Semiconductor agreed to sell about 20.3% of its Chongqing joint venture, CQJV, to a strategic investor for $150 million in cash, paid in four installments. The company expects to close the sale before the end of 2025 and plans to use the proceeds for technology, R&D and asset acquisitions. It also expects a GAAP impairment charge on its CQJV investment for the quarter ended June 30, 2025, though the filing does not state the amount.
Cash consideration of $150 million: about $94 million, $11 million, $30 million and $15 million across four installments
AOS owned about 39.2% of CQJV before the sale; the stake sold is roughly half of its holding
GAAP impairment charge expected for the quarter ended June 30, 2025; amount not disclosed
Either party may terminate if all four installments are not completed within 270 days of the agreement date
Huntington Bancshares agreed to acquire Texas bank holding company Veritex Holdings in an all-stock merger, with Huntington issuing 1.95 shares for each Veritex share. The deal implies $33.91 per Veritex share and an aggregate transaction value of $1.9 billion, and it is expected to close early in the fourth quarter of 2025 subject to regulatory approvals. Huntington also released preliminary second-quarter 2025 results, showing EPS up over 13% year over year, while the company said the deal is slightly dilutive to tangible book value per share.
Huntington will issue 1.95 shares for each Veritex share; based on Huntington's $17.39 closing price on July 11, 2025, the deal implies $33.91 per Veritex share
Expected to close early in the fourth quarter of 2025, subject to regulatory approvals and customary closing conditions
Preliminary Q2 2025 EPS of $0.34, unchanged from the prior quarter and up over 13% from the year-ago quarter; net interest income of $1.5 billion, up 12% from the year-ago quarter
Tangible book value per share of $9.13, up $0.33 from the prior quarter and $1.24 from a year ago; full results are due July 18, 2025
Seacoast Banking Corporation of Florida completed its acquisition of Heartland Bancshares, Inc., parent of Heartland National Bank, effective July 11, 2025, and merged Heartland National Bank into Seacoast National Bank. The filing says the deal adds Heartland's leading deposit share in Highlands County, Florida, with deposits of approximately $665.9 million and net loans of approximately $156.6 million as of March 31, 2025.
Final consideration of approximately $111.2 million, paid as a 50-50 mix of cash and stock
Heartland had approximately $665.9 million in deposits and $156.6 million in total consolidated net loans as of March 31, 2025
Merger agreement dated February 27, 2025; Heartland National Bank merged into Seacoast National Bank, effective July 11, 2025
Chairman and CEO Charles M. Shaffer said the deal expands Seacoast's presence in Central Florida
Royal Gold agreed on July 6, 2025, to acquire Sandstorm Gold in an all-stock transaction, with Sandstorm shareholders receiving 0.0625 Royal Gold shares for each Sandstorm share. It also agreed to acquire Horizon Copper in an all-cash deal of C$2.00 per share. Both deals are subject to shareholder, court and regulatory approvals, and the Sandstorm deal requires Royal Gold stockholder approval for the share issuance, so shareholders would be affected by the new stock issued and the cash outlay if the deals close.
Sandstorm deal: 0.0625 Royal Gold common shares per Sandstorm common share, subject to adjustment if applicable
Horizon deal: C$2.00 in cash per Horizon common share, subject to adjustment if applicable
Royal Gold stockholder approval is required for the stock issuance; the Sandstorm deal may be terminated if it is not completed by January 6, 2026 (extendable to April 6, 2026 in certain regulatory cases)
Termination fees of $200 million payable by Royal Gold or $130 million payable by Sandstorm in specified circumstances
Pursuit Attractions and Hospitality, Inc. agreed on July 1, 2025 to acquire all shares of Inversiones Turísticas Arenal, S.A., owner and operator of Tabacón Thermal Resort and Spa in Arenal, Costa Rica, for $111.0 million in cash. The company funded the purchase with borrowings under its revolving credit facility, and the price is subject to post-closing adjustments and escrow holdbacks for indemnification claims.
Purchase price: $111.0 million in cash, subject to post-closing adjustments
Target: Tabacón Thermal Resort and Spa, Arenal, Costa Rica
Funding: borrowings under the company's revolving credit facility
Share Purchase Agreement dated July 1, 2025, filed as Exhibit 10.1
Allegiant agreed to sell its Sunseeker Resort Charlotte Harbor, Aileron Golf Course and related Southwest Florida properties to affiliates of Blackstone Real Estate Group for $200 million in cash, with closing scheduled for September 2025. Separately, the company borrowed $158.6 million in July 2025 under previously reported aircraft loan facilities secured by Boeing 737-MAX aircraft.
Sunseeker sale price is $200 million, payable in cash at closing, subject to customary conditions and adjustments
Closing is scheduled for September 2025 unless extended under the agreement
$158.6 million borrowed on July 1 and July 2, 2025, with floating rates and quarterly payments over 12 years
About $151 million in loan commitments remain available; proceeds fund aircraft deliveries and prepay debt in Q3 2025
FB Financial completed its merger with Southern States Bancshares on July 1, 2025, and each Southern States share was converted into 0.800 FB Financial shares. Based on FB Financial's $45.30 closing price on June 30, 2025, the company put the implied transaction value at approximately $368.4 million. The deal also added $92.7 million of assumed subordinated notes and a new board member, J. Henry Smith, bringing the board to 13 directors.
Merger completed July 1, 2025; Southern States shareholders received 0.800 FB Financial shares per share.
Implied transaction value of approximately $368.4 million, based on FB Financial's $45.30 close on June 30, 2025.
FB Financial assumed $92.7 million of subordinated notes due 2031 and 2032.
J. Henry Smith appointed to the board effective at the merger's effective time; board increased to 13 directors.
H2O America and its subsidiaries agreed on July 7, 2025, to acquire substantially all assets of Quadvest, a Houston-area water and wastewater utility, for a combined $540 million across two linked asset purchase agreements. The deal is expected to close by mid-2026, subject to Texas Public Utility Commission and antitrust approvals, and the company says it expects the combination to be accretive to its long-term EPS growth rate.
Regulated business base price $483.6 million; wholesale business base price $56.4 million, both subject to capital expenditure adjustments
Neither transaction closes unless both close concurrently; closing requires Texas Public Utility Commission approval and Hart-Scott-Rodino waiting period expiration
Transaction to be financed by privately placed debt and equity infusions from H2O America; the filing states it is not subject to a financing condition
Filing sets a $21 million termination fee payable by TWC in specified court or regulatory-order circumstances; H2O America expects its five-year capital spending plan to rise to approximately $2.1 billion, an increase of 6%
Dollar Tree completed the sale of all membership interests in Family Dollar Stores, LLC to 1959 Holdings, LLC on July 5, 2025. The buyer paid a base purchase price of $1,007.5 million in cash, subject to adjustments, and the company estimates net proceeds of about $800 million. Pro forma figures in the filing show higher income from continuing operations, but the company also estimates a loss on the sale of about $17.0 million.
Closing date: July 5, 2025; buyer is 1959 Holdings, LLC
Base purchase price of $1,007.5 million in cash, subject to working capital and net indebtedness adjustments
Estimated net proceeds of about $800 million, including $665 million paid at closing; final adjustment about 90 days after closing
Pro forma diluted EPS from continuing operations for fiscal year ended February 1, 2025: $5.33, up $0.50 from $4.83
Sabre closed the sale of its Hospitality Solutions business on July 3, 2025, for about $1.1 billion in cash, subject to customary purchase price adjustments. The company said most of the $960 million net proceeds will be used to pay down debt and reduce net leverage.
Cash purchase price of approximately $1.1 billion, subject to customary adjustments; $960 million net of taxes and fees, per the press release
Transaction closed July 3, 2025, under a Stock Purchase Agreement dated April 27, 2025; press release issued July 7, 2025
Former Hospitality Solutions president Scott Wilson received a one-time $5.3 million cash bonus contingent on the sale; his employment ended and unvested equity awards expired
Packaging Corporation of America agreed on June 30, 2025 to acquire the containerboard business of Greif, Inc. for $1.8 billion in cash. Closing is expected in the third quarter of 2025 or sooner, subject to antitrust clearance, and the deal can be terminated if it has not closed by June 30, 2026.
Purchase price is $1.8 billion in cash, agreed June 30, 2025 with Greif, Inc. and Greif Packaging LLC
Closing anticipated in the third quarter of 2025 or sooner, subject to Hart-Scott-Rodino waiting period expiration
Outside Date of June 30, 2026, extendable by two ninety-day periods in certain circumstances
PCA would pay a termination fee to the seller in certain antitrust-related failure scenarios
Shift4 Payments said the cash tender offer for Global Blue Group Holding AG expired on July 2, 2025, with about 97.37% of Global Blue's outstanding shares validly tendered, satisfying the minimum condition, and its subsidiary accepted those shares for payment. To help finance the deal, Shift4 Payments, LLC amended its credit agreement, adding a $1.0 billion senior secured term loan and a $100 million revolving credit increase, effective July 3, 2025.
Offer expired at 11:59 p.m. New York City time on July 2, 2025; 233,862,778 Global Blue shares were validly tendered.
Offer prices were $7.50 per common share, $10.00 per Series A share and $11.81 per Series B share, paid in cash.
New $1.0 billion term loan facility matures July 3, 2032, priced at term SOFR plus 2.75%, and partly funded the transaction.
Revolving credit facility increased by $100 million to $550 million and matures September 5, 2029.
Bunge Global SA completed its acquisition of Viterra Limited on July 2, 2025, issuing about 65.6 million registered shares valued at approximately $5.3 billion plus about $2.0 billion in cash to the sellers. Sellers other than the Viterra EBT now own approximately 33% of Bunge's registered shares, and the filing says the deal was financed with cash on hand and existing debt instruments.
Share issuance of about 65.6 million shares valued at approximately $5.3 billion, plus approximately $2.0 billion in cash consideration
Bunge withheld $150 million from cash consideration pending agreement on Danube Leakage calculations
David Mattiske, former Viterra CEO, appointed Co-Chief Operating Officer with a $3.5 million target LTIP award and a $3.0 million one-time RSU award
Four Board nominees from CPPIB and Glencore will serve until the 2026 annual general meeting
Unum Group announced on July 1, 2025 that it closed a transaction in which its insurance subsidiary Unum Life Insurance Company of America ceded certain long-term care and individual disability business to Fortitude Reinsurance Company Ltd. on a coinsurance basis, effective as of January 1, 2025. The filing does not report financial impacts, and the full coinsurance agreement will be filed with the company's 10-Q for the quarter ended June 30, 2025.
Ceded a 100% quota share of a closed block of individual long-term care business with $3.4 billion of statutory reserves
Ceded a 100% quota share of individual disability business reinsured from Provident Life and Accident, representing approximately $120 million of in-force premium
Transaction governed by a Master Transaction Agreement dated February 26, 2025; coinsurance effective January 1, 2025
Full coinsurance agreement to be filed as an exhibit to the Form 10-Q for the period ended June 30, 2025
Hewlett Packard Enterprise closed its acquisition of Juniper Networks, making Juniper a wholly owned subsidiary, after reaching a settlement with the U.S. Department of Justice that requires divesting HPE's Instant On business. The filing says the deal doubles the size of HPE's networking business, and HPE expects it to be accretive to non-GAAP EPS in year 1 after close.
Aggregate merger consideration paid to Juniper stockholders was approximately $13.4 billion, at $40.00 per share in cash.
HPE funded the deal with balance sheet cash, commercial paper, and term loan borrowings.
The June 28, 2025 DOJ settlement requires divestiture of HPE's Instant On business and an auction for non-exclusive licensing of Juniper's Mist AIOps source code.
Juniper shares ceased trading on the NYSE as of July 2, 2025.
Astrana Health completed its acquisition of Prospect Health on July 1, 2025, paying $707.9 million in cash after a letter agreement cut the price from $745.0 million. The company updated its full-year 2025 revenue and adjusted EBITDA guidance to reflect a half-year contribution from Prospect and reaffirmed its second-quarter guidance. After the close, Astrana expects about $700 million of net debt, and shareholders will watch its plan to reduce net leverage below 2.5x over the next twelve to eighteen months.
Acquisition closed July 1, 2025; cash price reduced from $745.0 million to $707.9 million under a letter agreement with the sellers.
Full-year 2025 guidance now calls for total revenue of $3.1 billion to $3.3 billion and adjusted EBITDA of $215 million to $225 million.
Second-quarter 2025 guidance was reiterated.
About $700 million of net debt after close; management targets net leverage below 2.5x within twelve to eighteen months.
On July 1, 2025, Franklin BSP Realty Trust's subsidiaries completed the purchase of all membership interests in NewPoint Holdings JV LLC, a commercial real estate finance company. The consideration was $318,750,000 in cash, subject to post-closing adjustment, plus 8,385,951 Class A Units of the purchaser's operating partnership. The company describes the deal as a major expansion of its multifamily lending capabilities, and the unit issuance could add common shares if holders later elect redemption.
Closed July 1, 2025, under a Purchase and Sale Agreement dated March 9, 2025
Cash consideration of $318,750,000, which remains subject to post-closing adjustment
8,385,951 Class A Units issued; after 12 months, holders may elect redemption for cash or one FBRT common share per unit
Company press release states total consideration of $425 million
Astec Industries completed its acquisition of TerraSource on July 1, 2025, paying $245.0 million in cash on a cash-free, debt-free basis, subject to a customary purchase price adjustment. The company funded the deal with a new credit agreement of up to $600 million, which replaced its prior $250 million revolving credit facility, and says it expects the acquisition to be accretive to earnings per share.
Purchase price of $245.0 million in cash, subject to customary purchase price adjustment
New credit facilities of up to $600 million, with an additional incremental limit of up to $150 million, led by Wells Fargo Bank, National Association
Revolving and term loans must be repaid by July 1, 2030; maximum Consolidated Total Net Leverage Ratio covenant of 3.50 to 1.00
Company repaid and terminated its prior $250 million revolving credit facility
Entergy and its subsidiaries Entergy New Orleans and Entergy Louisiana closed the sale of their natural gas distribution businesses to affiliates of Bernhard Capital Partners on July 1, 2025. Delta Utilities now handles day-to-day gas service and distribution operations in Baton Rouge and New Orleans. The filing says the sale lets Entergy focus on its electric utility business.
Base purchase price for the New Orleans gas business was $285.5 million, and for the Baton Rouge gas business $198 million, both subject to certain adjustments.
The transaction closed on July 1, 2025, after receiving federal and state regulatory approvals, including from the Louisiana Public Service Commission and the New Orleans City Council.
The sold assets include approximately 3,700 miles of natural gas pipelines and 2,200 miles of service lines, serving about 96,000 customers in the Baton Rouge area and 108,000 in New Orleans.
Greif, Inc. signed a definitive agreement on June 30, 2025 to sell its Greif Containerboard Solutions and Box-Board Holding businesses to Packaging Corporation of America for $1.8 billion in cash, subject to adjustments. The company says the proceeds will go toward debt repayment, with a pro-forma leverage ratio below 2.0x after closing, and the deal is expected to close by the end of fiscal 2025 pending regulatory approvals.
Purchase price is $1.8 billion, subject to certain adjustments, paid in cash to the seller
Closing is subject to conditions including expiration or early termination of the Hart-Scott-Rodino waiting period
Either party may terminate if closing has not occurred by June 30, 2026, subject to extensions of 90 days, with a second 90-day extension available to Greif
Management plans to use cash proceeds for debt repayment; CEO Ole Rosgaard and a conference call are scheduled for July 1, 2025 at 8:30 AM Eastern
Independent Bank Corp. completed its merger with Enterprise Bancorp, Inc. effective July 1, 2025, with Enterprise merging into Independent and Enterprise Bank merging into Rockland Trust. Enterprise shareholders received 0.60 Independent shares and $2.00 in cash for each Enterprise share, and Independent now has approximately 50,107,000 common shares outstanding, which affects the share count and ownership for existing shareholders.
Enterprise shareholders receive about 7.5 million Independent shares and about $25.8 million in cash, excluding cash for fractional shares
Each Enterprise share converted into 0.60 Independent shares and $2.00 in cash
Independent assumed Enterprise's $60 million 5.25% subordinated notes due 2030 and intends to repurchase them on July 15, 2025
Kenneth S. Ansin and Joseph C. Lerner were appointed to the Independent and Rockland Trust boards; core account conversions are expected over the weekend of October 11, 2025
ePlus closed the sale of its domestic financing business, which makes up the majority of its financing segment, to Marlin Leasing Corporation (dba PEAC Solutions) effective June 30, 2025, for a cash payment of approximately $180 million. The price is subject to a post-closing adjustment and possible earn-out payments. The company said it intends to update its fiscal 2026 guidance on its next earnings call, and the filing does not give revenue or profit figures for the business sold.
Cash payment of approximately $180 million for 100% of the membership interests of Expo Holdings, LLC, subject to a post-closing adjustment and potential earn-out payments
Transaction closed June 30, 2025; the company announced completion in a press release dated July 1, 2025
ePlus intends to update its fiscal 2026 guidance on its next earnings call
Pro forma financial information will be filed by amendment within four business days after closing
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