The private company data space is vast, fragmented, and often overwhelming. Deal sourcing teams are faced with endless streams of announcements, filings, atSnd rumors, making it difficult to pinpoint the transactions that actually matter.
That’s why inside Dakota Marketplace, we’ve zeroed in on this space. We’ve created a centralized resource where deal sourcers can easily find and track the exact deals they’re looking for.
In this article, we’ve curated 10 top transactions from last week that stood out in the marketplace and signal key trends shaping the deal landscape. By the end of this, you’ll have a better understanding of these deals.
1. Kellanova - Strategic Acquisition
- Transaction Date: 12/11/2025
- Type: Merger and Acquisition
- Sector: Consumer Staples
- Transaction Value: $35.9B
- Participants: Mars
Mars, Incorporated has completed its $35.9 billion all-cash acquisition of Kellanova, acquiring all outstanding shares at $83.50 per share following shareholder and regulatory approvals. The deal, announced in August 2024, significantly expands Mars Snacking’s global portfolio with leading brands such as Pringles®, Cheez-It® and Kellogg’s® international cereals, strengthening Mars’ scale and position in the global snacking market.
2. Alinta Energy - Strategic Acquisition
- Transaction Date: 12/11/2025
- Type: Merger & Acquisition
- Sector: Utilities
- Transaction Value: $4.32B
- Participants: Sembcorp
Sembcorp Industries has entered into an agreement to acquire 100% of Alinta Energy from Chow Tai Fook Enterprises for an enterprise value of A$6.5 billion, providing Sembcorp with a major platform to accelerate its renewables growth in Australia. The transaction combines Alinta’s strong local market position and highly reliable generation portfolio with Sembcorp’s global renewables expertise and capital, supporting Australia’s energy transition while maintaining grid reliability. The deal is subject to shareholder and regulatory approvals and is expected to complete in the first half of 2026.
3. Upstream assets of HG Energy II - Natural Resources
- Transaction Date: 12/8/2025
- Type: Real Assets
- Sector: Energy
- Transaction Value: $2.8B
- Participants: Antero Resources
Antero Resources has announced strategic transactions including a definitive agreement to acquire the upstream assets of HG Energy II for $2.8 billion in cash plus the assumption of HG Energy’s commodity hedge book, strengthening its Marcellus position, with closing expected in the second quarter of 2026 and an effective date of January 1, 2026. The acquisition is expected to be financed through a combination of free cash flow, a $1.5 billion term loan, proceeds from Antero’s Utica Shale divestiture, and available liquidity under its revolving credit facility.
4. Alexander & Baldwin - Take-Private / Public-to-Private
- Transaction Date: 12/8/2025
- Type: Buyout/Private Equity
- Sector: Real Estate
- Transaction Value: $2.3B
- Participants: Investor Group
Alexander & Baldwin has agreed to be taken private in an all-cash transaction in which a joint venture formed by MW Group and funds affiliated with Blackstone Real Estate and DivcoWest will acquire all outstanding shares for $21.20 per share, valuing the company at approximately $2.3 billion including debt. The offer represents a 40% premium to A&B’s December 8, 2025 closing price, and the transaction—unanimously approved by A&B’s board—is expected to close in the first quarter of 2026, subject to shareholder approval and customary conditions, after which A&B will delist from the NYSE.
5. Western Australia Iron Ore - Infrastructure
- Transaction Date: 12/10/2025
- Type: Real Assets
- Sector: Materials
- Transaction Value: $2B
- Participants: Global Infrastructure Partners
BHP has agreed to a $2 billion infrastructure funding deal with BlackRock-owned Global Infrastructure Partners, under which GIP will acquire a 49% minority stake in Western Australia Iron Ore’s inland power network through a newly formed entity, with BHP retaining 51% ownership and full operational control. Under the arrangement, BHP will pay a long-term tariff over 25 years linked to its power usage, allowing the miner to recycle capital, enhance balance sheet flexibility, and unlock value from infrastructure assets while maintaining control of its core iron ore operations.
6. Verint Systems - Take-Private / Public-to-Private
- Transaction Date: 12/9/2025
- Type: Buyout/Private Equity
- Sector: Information Technology
- Transaction Value: $2B
- Participants: Thoma Bravo
Thoma Bravo has completed its all-cash acquisition of Verint Systems for an enterprise value of $2 billion and combined Verint with its portfolio company Calabrio to create a leading AI-powered customer experience (CX) automation platform. Originally announced in August 2025 and completed on November 26, 2025, the transaction brings together complementary CX software portfolios to serve a $50+ billion market, with Calabrio CEO Dave Rhodes continuing in his role and Thoma Bravo Operating Partner Mike Lipps serving as chairman and interim CEO of Verint.
7. Hornetsecurity - Strategic Acquisition
- Transaction Date: 12/8/2025
- Type: Merger & Acquisition
- Sector: Information Technology
- Transaction Value: $1.8B
- Participants: Proofpoint
Proofpoint has completed its acquisition of Hornetsecurity, a leading pan-European provider of AI-powered Microsoft 365 security, data protection, and compliance solutions, following a definitive agreement signed in May 2025. The transaction strengthens Proofpoint’s human-centric security offering for small and mid-sized businesses globally by expanding its reach through managed service providers, with Hornetsecurity serving as the central hub for MSP and SMB customers while continuing to be led by its existing management team.
8. Bamboo Insurance - Leverage Buyout
- Transaction Date: 12/8/2025
- Type: Buyout/Private Equity
- Sector: Financials
- Transaction Value: $1.75B
- Participants: CVC
White Mountains Insurance Group has completed the sale of a controlling interest in Bamboo to affiliates of funds advised by CVC Capital Partners, valuing Bamboo at $1.75 billion. Under the transaction, White Mountains received approximately $840 million of net cash proceeds, recognized a gain of about $310 per share to book value, and retained an approximately 15% fully diluted equity stake in Bamboo, allowing it to continue participating in the company’s future growth.
9. TC Transcontinental Packaging - Strategic Acquisition
- Transaction Date: 12/8/2025
- Type: Merger and Acquisition
- Sector: Materials
- Transaction Value: $1.51B
- Participants: ProAmpac
ProAmpac has entered into a definitive agreement to acquire TC Transcontinental Packaging from TC Transcontinental for $1.51 billion, expanding its global footprint and capabilities in sustainable flexible packaging and material science. The transaction, which values TCP at approximately CAD$2.1 billion and adds about $1.2 billion in trailing revenue, is expected to close in the first quarter of 2026 subject to shareholder and regulatory approvals, strengthening ProAmpac’s presence across food, medical, and pharmaceutical end markets and multiple international regions.
10. Teleflex Medical OEM - Carve-Out / Divestiture
- Transaction Date: 12/9/2025
- Type: Buyout/Private Equity
- Sector: Health Care
- Transaction Value: $1.5B
- Participants: Montagu, Kohlberg
Montagu and Kohlberg have agreed to acquire Teleflex Medical OEM from Teleflex Incorporated in a $1.5 billion carve-out transaction, creating an independent, global contract developer and manufacturer of medical device components. Expected to close in the second half of 2026 subject to regulatory approvals, the deal positions Teleflex Medical OEM to accelerate growth and innovation under new ownership, with current President and General Manager Greg Stotts set to become CEO upon closing.
Transactions with Dakota Marketplace
At Dakota, we understand how important it is to stay current on deal activity as it happens. That’s why our editorial team is constantly monitoring the news for real-time updates on platform investments, add-ons, divestitures, and more. Each day, we deliver these highlights directly to your inbox through our transactions newsletter.
Inside Dakota Marketplace, the transactions tab gives you access to structured, filterable data complete with dates, deal structure, sectors, and financials, so you can build a feed tailored to your specific interests.
Whether you're evaluating a new investment opportunity or tracking trends in a target sector or segment, Dakota Marketplace helps you cut through the noise and focus on what matters most.
For more information on these transactions and a deeper dive into their industries and sub-industries, book a demo of Dakota Marketplace.
