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 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).