Catch me up
Weekly digest of merger activity from 15-22 March 2026
New mergers
| Merger | Notification date | Summary |
|---|---|---|
| MN-30005 | 16/03/2026 | Adobe Inc. (Adobe) through a newly incorporated direct wholly owned subsidiary, Fenway Merger Sub, Inc. (Merger Sub), proposes to acquire 100% of the share capital in Semrush Holdings, Inc. (Semrush and together with Adobe, the Parties). The Proposed Transaction is being implemented pursuant to a merger agreement entered into between Adobe, Merger Sub, and Semrush dated 18 November 2025 (Merger Agreement). Pursuant to the Merger Agreement, Merger Sub will merge with and into Semrush, such that Merger Sub will cease to exist and Semrush will become the "surviving corporation" and a direct, wholly owned subsidiary of Adobe. After the Proposed Transaction, Semrush will be solely controlled by Adobe. |
| MN-50012 | 18/03/2026 | Maas Group Holdings Limited (Maas) proposes to acquire, through its subsidiary Asphalt Operators Australia Pty Ltd (AOA), a 50% interest in Coltek Asphalt Pty Ltd (Coltek), which will own and operate the hot-mix asphalt business currently owned and operated by a subsidiary of COLAS Australia Group Pty Ltd (COLAS) at Caloundra on the Sunshine Coast, QLD. The remaining 50% interest in Coltek will be retained by COLAS Australia, and Coltek will operate the hot-mix asphalt business at Caloundra as an incorporated joint venture between Maas and COLAS Australia (the Acquisition). |
| MN-65009 | 18/03/2026 | CVC Capital Partners plc (CVC Capital Partners) proposes to indirectly acquire 100% of the shares in Marathon Asset Management, LP, Marathon GP Holdings I, LLC and Marathon GP Holdings II, LLC (together, Marathon Asset Management) (the Acquisition). |
| MN-40009 | 19/03/2026 | Gilead Sciences, Inc. (Gilead), through its wholly owned subsidiary Ravens Sub, Inc. (Ravens Sub) proposes to acquire all the outstanding shares of Arcellx, Inc. (Arcellx) via a public cash tender offer. Following consummation of the offer, Ravens Sub will be merged with Arcellx, and Arcellx will continue as the surviving corporation and a wholly owned subsidiary of Gilead. |
| MN-75012 | 19/03/2026 | DPG Services Pty Ltd (DPG) and OHCA Property Holdings Pty Ltd (OHCA) (being related bodies corporate, and together referred to as Opal Healthcare) propose to acquire the land, assets and business comprising the Greenwich Place residential aged care home located in Greenwich, Sydney (Greenwich Place) (Acquisition). |
Mergers approved
| Merger | Determination date | Determination |
|---|---|---|
| OEP IX – Leviat
Waiver
WA-55011 | 16/03/2026 | Approved |
| MN-15005 | 17/03/2026 | Approved |
| MN-55006 | 17/03/2026 | Approved |
| MN-65007 | 17/03/2026 | Approved |
| MN-80004 | 17/03/2026 | Approved |
| MN-85007 | 17/03/2026 | Approved |
| TDR and Estoril – Escode
Waiver
WA-85011 | 17/03/2026 | Approved |
| MN-60007 | 19/03/2026 | Approved |
| MN-85003 | 19/03/2026 | Approved |
| WA-20007 | 19/03/2026 | Approved |
| Airtree – HotDoc
Waiver
WA-50006 | 19/03/2026 | Approved |
| WA-85014 | 19/03/2026 | Approved |
| MN-75009 | 20/03/2026 | Approved |
| WA-15009 | 20/03/2026 | Approved |
Mergers declined
| Merger | Determination date | Determination |
|---|---|---|
| WA-20010 | 19/03/2026 | Not approved |
Ongoing - phase 1 - initial assessment
| Merger | Notification date | Determination due date | Summary |
|---|---|---|---|
| MN-95003 | 13/02/2026 | 30/03/2026 | CVS Vets (Australia) Pty Ltd, a wholly owned subsidiary of CVS (Australia) Holdings Pty Ltd which is part of CVS Group Plc (together, CVS Group) proposes to acquire 100% of the shares of Pittwater Animal Hospital, a small animal veterinary practice in Warriewood in Sydney's Northern Beaches region (the Acquisition). |
| MN-30003 | 20/02/2026 | 08/04/2026 | This notification concerns the proposed acquisition of certain Australian assets of Konvoy Holdings Pty Limited (Receivers and Managers Appointed) (Subject to Deed of Company Arrangement) (Konvoy) by Kegstar Pty Limited (Kegstar), a wholly owned subsidiary of MicroStar Logistics, LLC (Acquisition). |
| MN-01083 | 25/02/2026 | 13/04/2026 | CTC Precast Pty Ltd (Civilmart) proposes to acquire 100% of the issued share capital in Taylex Group Holding Co Pty Ltd (Taylex) (the Acquisition). |
| MN-60004 | 26/02/2026 | 14/04/2026 | IOR Pty Ltd proposes to acquire the business assets of Delta Specialised Energy Pty Ltd in respect of its diesel, AdBlue and renewable fuels distribution businesses (including the associated plant and equipment and intellectual property). |
| MN-65005 | 03/03/2026 | 17/04/2026 | Insurance Australia Group (IAG) proposes to acquire 100% of the issued share capital in RAC Insurance (RACI) from RACI Pty Ltd, a wholly owned subsidiary of the Royal Automobile Club of Western Australia Inc (RAC) (the Acquisition). The Acquisition does not include RAC's roadside assistance business which will continue to be operated independently by RAC. |
| MN-30002 | 05/03/2026 | 21/04/2026 | Peter Warren Automotive Holdings Ltd (Peter Warren) proposes to acquire: |
| MN-90006 | 06/03/2026 | 22/04/2026 | CARe Autobody Pty Ltd (CARe) proposes to acquire 100% of the issued share capital in MotorOne Autobody Pty Ltd (MotorOne Autobody) (the Acquisition). |
| MN-55012 | 10/03/2026 | 23/04/2026 | Argo Bowen 2 Pty Ltd (Argo Bowen 2) proposes to acquire 100% of the shares in Bowen Coking Coal Limited (ASX:BCB) (BCC) and certain wholly owned subsidiaries (together, the Bowen Group) pursuant to a Deed of Company Arrangement Proposal dated 9 February 2026 (the Acquisition). |
| MN-20009 | 11/03/2026 | 24/04/2026 | Rocket Software, Inc.(Rocket Software), a portfolio company of Bain Capital, proposes to acquire the Vertica Analytics Database Platform (Vertica) from Open Text Corporation (Open Text). The proposed acquisition will occur largely by way of asset sale. |
| MN-01090 | 12/03/2026 | 28/04/2026 | Coles Supermarkets Australia Pty Ltd, a subsidiary of Coles Group Limited (Coles), has signed a letter of offer with Tipalea Private No. 27 Pty Ltd (ACN 656 207 082) to facilitate Coles leasing a new standalone supermarket to be developed at 120 Glebe Road, New Norfolk, Tasmania 7140 (the Property). |
| MN-25006 | 12/03/2026 | 28/04/2026 | KPS Special Situations Mid‑Cap Fund II (KPS) proposes to acquire 100% of the shares of Chargeurs Films de Protection SAS and its US subsidiaries (Novacel, Inc., Walco, Inc. and Novacel Performance Coatings, Inc.) (Novacel). Following completion, Compagnie Chargeurs Invest SA (the Seller), will roll-over an interest of approximately 25% in Novacel, with no joint control rights (the Acquisition). |
| MN-50007 | 13/03/2026 | 29/04/2026 | NDC HoldCo Pty Ltd (together with its subsidiaries, NDC), through its wholly-owned subsidiary, NDC Australia Pty Limited, proposes to acquire from the Comfy Dental Trust 100% of the business assets comprising the Comfy Dental Clinic (Comfy Dental). |
| MN-05004 | 14/03/2026 | 29/04/2026 | MidOcean Energy proposes to indirectly acquire a: |
| MN-30005 | 16/03/2026 | 30/04/2026 | Adobe Inc. (Adobe) through a newly incorporated direct wholly owned subsidiary, Fenway Merger Sub, Inc. (Merger Sub), proposes to acquire 100% of the share capital in Semrush Holdings, Inc. (Semrush and together with Adobe, the Parties). The Proposed Transaction is being implemented pursuant to a merger agreement entered into between Adobe, Merger Sub, and Semrush dated 18 November 2025 (Merger Agreement). Pursuant to the Merger Agreement, Merger Sub will merge with and into Semrush, such that Merger Sub will cease to exist and Semrush will become the "surviving corporation" and a direct, wholly owned subsidiary of Adobe. After the Proposed Transaction, Semrush will be solely controlled by Adobe. |
| MN-50012 | 18/03/2026 | 04/05/2026 | Maas Group Holdings Limited (Maas) proposes to acquire, through its subsidiary Asphalt Operators Australia Pty Ltd (AOA), a 50% interest in Coltek Asphalt Pty Ltd (Coltek), which will own and operate the hot-mix asphalt business currently owned and operated by a subsidiary of COLAS Australia Group Pty Ltd (COLAS) at Caloundra on the Sunshine Coast, QLD. The remaining 50% interest in Coltek will be retained by COLAS Australia, and Coltek will operate the hot-mix asphalt business at Caloundra as an incorporated joint venture between Maas and COLAS Australia (the Acquisition). |
| MN-65009 | 18/03/2026 | 04/05/2026 | CVC Capital Partners plc (CVC Capital Partners) proposes to indirectly acquire 100% of the shares in Marathon Asset Management, LP, Marathon GP Holdings I, LLC and Marathon GP Holdings II, LLC (together, Marathon Asset Management) (the Acquisition). |
| MN-40009 | 19/03/2026 | 05/05/2026 | Gilead Sciences, Inc. (Gilead), through its wholly owned subsidiary Ravens Sub, Inc. (Ravens Sub) proposes to acquire all the outstanding shares of Arcellx, Inc. (Arcellx) via a public cash tender offer. Following consummation of the offer, Ravens Sub will be merged with Arcellx, and Arcellx will continue as the surviving corporation and a wholly owned subsidiary of Gilead. |
| MN-75012 | 19/03/2026 | 05/05/2026 | DPG Services Pty Ltd (DPG) and OHCA Property Holdings Pty Ltd (OHCA) (being related bodies corporate, and together referred to as Opal Healthcare) propose to acquire the land, assets and business comprising the Greenwich Place residential aged care home located in Greenwich, Sydney (Greenwich Place) (Acquisition). |
Ongoing - phase 2 - detailed assessment
| Merger | Notification date | Determination due date | Summary |
|---|---|---|---|
| MN-01019 | 10/10/2025 | 05/06/2026 | Pursuant to the terms of a Share Purchase Agreement, the retail sites operated by EG Australia will become Ampol owned and operated retail sites, subject to proposed divestitures. |
| MN-01068 | 27/11/2025 | 12/06/2026 | Coles Group Limited (Coles), via its subsidiary Coles Supermarkets Australia Pty Ltd, has signed a Letter of Offer to facilitate Coles acquiring a leasehold interest in a new neighbourhood centre at Lots 95-106 Great Western Highway, Somerville, Kalgoorlie (the Property). |