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M&A News: Global M&A Deals Week of January 5 to 11, 2026
- IMAA
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Between January 5 and January 11, 720 transactions were announced with a total value of USD 38.99 billion, marking a sharp acceleration in activity compared with the prior week. Large-cap transactions dominated early-year momentum, with 18 deals above USD 500 million, together accounting for USD 29.69 billion, or 76% of total weekly deal value.
This early surge was anchored by the USD 6.4 billion acquisition of OneStream, Inc., an enterprise finance management platform, by Hg Capital, alongside General Atlantic and Tidemark. OneStream delivers a cloud-based platform built to modernize the Office of the CFO by unifying financial consolidation, close, reporting, planning, and forecasting, supported by AI-driven analytics. The company serves more than 1,700 customers across over 45 countries, including organizations such as The Carlyle Group, Nasdaq, and UPS. With more than USD 4.5 billion invested to date in CFO-focused technology platforms, the transaction highlights continued investor interest in scalable, AI-enabled financial management solutions as finance teams face increasing operational and data complexity.
Overall, the week recorded a 167% increase in deal volume, rising from 270 to 720 transactions, alongside a 162% increase in total deal value from USD 14.84 billion to USD 38.99 billion from the previous period, suggesting that the opening weeks of the year have set a more constructive tone for M&A activity.
Top 5 M&A Deals for the Week
Here are the top 5 M&A Deals for the week of January 5 to 11, 2026 in detail:
Deal No. 1: HgCapital LLP; General Atlantic Service Company, L.P.; Tidemark Capital, Inc. to Acquire OneStream, Inc. for USD 6.40 Billion
Deal No. 2: Vistra Operations Company LLC to Acquire Cogentrix Energy Power Management, LLC for USD 4.00 Billion
Deal No. 3: Anheuser-Busch InBev SA/NV to Acquire US-based Metal Container Plants of Anheuser-Busch InBev for USD 3.00 Billion
Deal No. 4: Taiyo Kosan Co., Ltd. to Acquire Hisamitsu Pharmaceutical Co., Inc. for USD 2.90 Billion
Deal No. 5: Crestpoint Real Estate Investments Ltd. to Acquire Minto Apartment Real Estate Investment Trust for USD 1.67 Billion
Deal No. 1:
HgCapital LLP; General Atlantic Service Company, L.P.; Tidemark Capital, Inc. to Acquire OneStream, Inc. for USD 6.40 Billion
Hg Capital has agreed to acquire enterprise software firm OneStream, Inc. in an all-cash transaction valued at approximately USD 6.4 billion. Under the agreement, Hg will become the company’s majority shareholder, while General Atlantic will retain a significant minority stake alongside Tidemark, a technology-focused investment firm.
Headquartered in the United States, OneStream provides a unified, cloud-based corporate performance management platform that enables enterprises to streamline financial consolidation, planning, budgeting, forecasting, and reporting. Its solutions are widely adopted by large organizations seeking to improve financial accuracy, reduce manual workloads, and enhance data-driven decision-making across finance functions.
The partnership with Hg is expected to accelerate OneStream’s AI-first go-to-market strategy and materially expand its Finance AI capabilities. As finance organizations face increasing complexity and demand for real-time insights, OneStream’s focus on AI-driven solutions, combined with its global customer base and clear product roadmap, strengthens its competitive positioning in the enterprise finance software market.
The transaction is anticipated to close in the first half of 2026. J.P. Morgan Securities LLC is acting as financial advisor to OneStream, while Goldman Sachs & Co. LLC is serving as exclusive financial advisor to Hg.
Deal No. 2:
Vistra Operations Company LLC to Acquire Cogentrix Energy Power Management, LLC for USD 4.00 Billion
Vistra is acquiring independent power producer Cogentrix Energy in a cash-and-stock transaction valued at approximately USD 4 billion, reinforcing its strategy to address rising electricity demand across key power markets.
Cogentrix Energy contributes a portfolio of 10 modern natural gas–fired power plants with an aggregate capacity of roughly 5,500 MW. The assets include combined-cycle and combustion turbine facilities across PJM, four combined-cycle plants in ISO New England, and a cogeneration facility operating within ERCOT.
The transaction broadens Vistra’s footprint across several of North America’s most active and growth-oriented power markets. Upon completion, Vistra’s total generation platform is expected to approach 50,000 MW of capacity across the United States, strengthening scale, geographic balance, and operational flexibility.
The acquisition builds on Vistra’s May 2025 purchase of seven gas-fired power plants from Lotus Infrastructure Partners for USD 1.9 billion, reflecting a consistent strategy of targeted asset additions to support customer demand.
The deal is expected to close between mid and late 2026, subject to customary regulatory approvals. Goldman Sachs & Co. LLC is serving as exclusive financial advisor to Vistra, while Evercore is acting as exclusive financial advisor to Cogentrix Energy.
Vistra Adds to its Industry-Leading Generation Portfolio with Acquisition of Cogentrix – Jan 5, 2026
Vistra acquires Cogentrix Energy in $4bn deal — Financier Worldwide
Vistra to buy Cogentrix Energy in $4.7bn cash-and-stock deal
Vistra to buy Cogentrix Energy in $4.7 billion deal amid surging power demand
Deal No. 3:
Anheuser-Busch InBev SA/NV to Acquire US-based Metal Container Plants of Anheuser-Busch InBev for USD 3.00 Billion
AB InBev has agreed to buy back the remaining 49.9% stake in its U.S. metal container plants for USD 3 billion from a consortium led by Apollo Global Management, at a valuation broadly consistent with the price at which the stake was sold in 2020.
The U.S. metal container operations produce aluminum cans and lids used across AB InBev’s North American beverage portfolio. Spanning seven facilities across six states, these plants play a central role in the company’s supply chain by supporting packaging quality, cost control, supply continuity, and faster innovation across its brands.
Regaining full control of the metal container operations strengthens AB InBev’s ability to manage costs, accelerate innovation, and safeguard supply, particularly as tariffs on metal inputs increase cost pressures across the beverage industry. As the company expands further into can-centric beverage categories beyond beer, including energy drinks, consolidating control over its metal container operations enhances long-term supply security and strategic flexibility.
The transaction is expected to close in the first quarter.
AB InBev buys back $3B stake in US metal container plants | Packaging Dive
AB InBev buys back stake in US metal packaging plants for $3 billion
AB InBev Buys Back $3 Billion Stake in U.S. Metal Container Facility to Boost Supply Security – WSJ
AB InBev Buys Back Stake in US Metal Plants for $3 Billion (1)
Deal No. 4:
Taiyo Kosan Co., Ltd. to Acquire Hisamitsu Pharmaceutical Co., Inc. for USD 2.90 Billion
Hisamitsu Pharmaceutical is evaluating a potential takeover proposal from Taiyo Kosan, an entity controlled by the company’s CEO, Kazuhide Nakatomi. The indicative offer values the company at approximately JPY 457 billion (USD 2.9 billion), marking a possible shift toward private ownership.
Hisamitsu Pharmaceutical specializes in transdermal drug delivery and topical therapies, developing and commercializing both prescription and over-the-counter products. The company has built a strong international footprint, with its pain relief and fever-care brands distributed in more than 50 countries, supported by continued investment in research and product innovation.
The potential transaction reflects a broader trend among Japanese companies exploring exits from public markets amid increasing regulatory scrutiny and investor pressure to improve valuations, governance, and capital efficiency. For Hisamitsu, privatization could provide greater strategic latitude away from short-term market expectations.
For Hisamitsu, a delisting could provide added management flexibility to navigate intensifying domestic competition in patch-based products while enabling more aggressive investment to scale its presence in overseas markets, including other parts of Asia and the United States.
Deal No. 5:
Crestpoint Real Estate Investments Ltd. to Acquire Minto Apartment Real Estate Investment Trust for USD 1.67 Billion
Sapphire Foods India is merging with Devyani International in a share-swap transaction valued at approximately USD 934 million, paving the way for the formation of a single, scaled platform that will become the largest Yum! Brands franchisee in India.
Sapphire Foods India operates a broad portfolio of quick-service restaurants across India, Sri Lanka, and the Maldives, managing well-known global brands including KFC, Pizza Hut, and Taco Bell. Devyani International similarly runs an extensive QSR network in India and select international markets, with a strong presence across Yum! Brands’ concepts, giving the combined entity significant geographic reach and operational depth.
Following completion, Devyani International will absorb Sapphire Foods’ operations, creating one of India’s largest QSR operators by scale. The merger is expected to support the next phase of growth by enhancing store density, strengthening brand partnerships, and improving overall profitability through a larger, more integrated operating platform.
The combined group is also expected to realize cost efficiencies through consolidated procurement, improved supply chain coordination, and increased negotiating leverage with suppliers, landlords, and other key stakeholders, supporting margin expansion over the medium to long term.
This concludes our M&A news coverage of the top global mergers and acquisitions deals for the week of January 5 to 11, 2026. For continuous and detailed insights into the evolving landscape of M&A news, we invite you to follow the Institute for Mergers, Acquisitions, and Alliances (IMAA).
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