Deal Dispatch: Penske Buys Vox Media's Digital Brands, Abb...

New On The Block

SPS Commerce (NASDAQ:SPSC) hired Morgan Stanley to evaluate a potential sale of the company, as activist investors Anson Funds and Irenic Capital push for strategic alternatives, Reuters reported.

Morgan Stanley is also advising Rayonier Advanced Materials (NYSE:RYAM) on a broad range of strategic alternatives, including a sale. Rayonier’s newly appointed CEO, Daniel Krawczyk, will be working closely with the board and its external advisors as part of the process.

Jaguar Health, Inc.(NASDAQ:JAGX) is exploring strategic alternatives, including a merger or sale, to maximize stockholder value. Buyers may involve biotech or non-biotech companies.

Jorey Chernett, founder of Pointilist Family Office and SEACOR Marine Holdings’ (NYSE:SMHI) largest shareholder with a roughly 7.2% stake, has urged the company’s board to explore strategic alternatives, including a sale of the entire company or a dual-track process to sell its fleet assets.

Penske Media Corp. bought Vox Media’s digital brands, including The Verge, Eater, SB Nation, Popsugar, The Dodo, Punch, and Thrillist, as well as Vox’s ad marketplace Concert and Forte, Vox’s first-party data platform. Penske created a new subsidiary, "PMX," which will combine PMC’s existing publishing portfolio. Ryan Pauley will join the company as President of PMX, overseeing the newly combined portfolio of brands.

AbbVie (NYSE:ABBV) will acquire Apogee Therapeutics (NASDAQ:APGE) and its diverse pipeline of multiple clinical-stage candidates in development across inflammatory and immunological diseases for a total equity value of $10.9 billion. Shareholders expect the transaction to close in the third quarter of 2026, pending regulatory approval.

Adobe (NASDAQ:ADBE) will acquire Topaz Labs, an AI company specializing in industry-leading video and image enhancement models. After the transaction closes, Topaz customers can expect continued support and investment in future innovation. Topaz Labs products will remain available as standalone offerings through the company’s website. The transaction should close in the second half of 2026, subject to regulatory approval. Upon close, Topaz Labs CEO Eric Yang will continue to lead the team.

Rise Baking Company, a manufacturer for in-store bakeries and foodservice operators, will acquire Jimmy’s Gourmet Bakery, a manufacturer of cookies and baked goods. Terms of the deal remain undisclosed, with a closing some time in the third quarter.

Onsemi (NASDAQ:ON) agreed to purchase Synaptics in an all-stock transaction valued at $7 billion. The combination will accelerate onsemi’s evolution toward global leadership in intelligent systems, the company said. The transaction is expected to close in mid-2027, subject to approval by Synaptics stockholders, as well as regulatory approval.

MSCI has acquired climate risk analytics provider First Street for $120 million in cash, with the potential of additional payments tied to revenue performance. The transaction is expected to close in the third quarter of 2026, subject to regulatory approval. After the transaction is completed, First Street’s financials will be consolidated into the MSCI sustainability and climate segment.

CRH (NYSE:CRH), a provider of building materials, has signed an agreement to acquire 100% of Arcosa, Inc. (NYSE:ACA), a provider of infrastructure-related materials, products, and solutions, in an all-cash transaction for $150 per share, subject to Arcosa stockholders’ and regulatory approvals. The transaction is expected to close in the first quarter of 2026.

Digital Realty (NYSE:DLR) has agreed to acquire investment firm Columbia Capital for approximately $485 million, through the issuance of 2.3 million shares of common stock, with a multi-year period lockup. The acquisition will accelerate Digital Realty’s Strategic Private Capital platform and provide increased expertise and visibility into adjacent digital infrastructure sectors. The transaction is expected to close in the second half of 2026, subject to customary closing conditions.

Merck KGaA, Darmstadt, Germany, a science and technology company, is acquiring Bio-Techne for $73 per share in cash, representing a total enterprise value of approximately $11.3 billion. Bio-Techne’s board of directors approved the transaction. The closing date, either in late 2026 or early 2027, is subject to satisfaction of customary closing conditions.

IsoEnergy (NYSE:ISOU) completed its acquisition of Toro Energy Limited by way of a scheme of arrangement under Australia’s Corporations Act 2001. IsoEnergy has acquired all of the issued and outstanding ordinary shares of Toro that it does not already own. Philip Williams, Chief Executive Officer and Director of IsoEnergy, commented, “The completion of the Toro acquisition marks another important step in advancing IsoEnergy’s strategy to build a globally diversified, development-ready uranium platform.”

Franklin Templeton closed a deal for 250 Digital, an active cryptocurrency investment management firm. The transaction includes the 250 Digital investment team and all liquid cryptocurrency strategies previously run by CoinFund. Franklin Templeton will invest in these strategies as part of the agreement.

Shield AI wrapped its acquisition of Aechelon Technology, adding a specialist in realistic training environments and sensor modeling to its defense autonomy portfolio. Aechelon’s visual simulation technology is used by the U.S. military, including the U.S. Coast Guard, as well as by allied countries.

Camp Mystic filed for Chapter 11 bankruptcy almost a year after catastrophic flooding along Texas’s Guadalupe River killed 25 campers and two counselors. Plans to reopen for the camp’s 100th anniversary were scrapped earlier this year amid mounting criticism and legal pressure. Bankruptcy filings show the camp has more than $10 million in debt.

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