
UK scrutiny could slow one of media’s largest takeover deals. Ministers are considering whether to intervene in Paramount Skydance’s proposed acquisition of Warner Bros. Discovery on public-interest grounds.

Britain’s bakery market is entering a new consolidation phase today. The CMA has cleared Associated British Foods’ acquisition of Hovis after a Phase 2 investigation into the UK bread market.

CDP’s restructuring puts sustainability disclosure into sharper commercial focus today. The environmental data platform will split into a commercial business and charitable foundation.

Private equity’s latest recovery has stalled before gaining momentum again. Bain says AI disruption, private credit stress, and energy-price pressure have hit dealmaking, fundraising, and exits.

Openwork has joined bidders pursuing Schroders’ Benchmark advice business sale. The potential £250m deal reflects continuing consolidation across wealth management, adviser networks, and platform infrastructure.

Frasers is considering a major move into regional retail property. A potential £500m Metrocentre bid would extend the group’s strategy of owning destination retail assets.

May’s US dealmaking was shaped by infrastructure, AI, and scale. The largest transactions showed strategic buyers paying for assets tied to power demand, housing capacity, industrial controls, corporate travel, and healthcare pipelines.

May’s UK dealmaking showed buyers paying for control and scale. Vodafone, EQT, Ingredion, E.ON, and JD.com shaped a month in which strategic infrastructure, public-market valuations, energy resilience, food ingredients, and retail platforms all drew serious takeover attention.

Europe’s May M&A market favoured control, certainty, and strategic patience. The largest stories centred on contested assets, public-market discounts, private-equity pressure, and boards testing whether premiums were enough to justify surrendering independence.

SAP has struck two deals to strengthen enterprise AI foundations. The Dremio and Prior Labs acquisitions bring open data infrastructure and tabular model research closer to SAP’s analytics, automation, and agentic software stack.