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M&A News: Global M&A Deals Week of September 22 to 28, 2025
- IMAA
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The Institute for Mergers, Acquisitions and Alliances (IMAA) provides a detailed weekly roundup of mergers and acquisitions news, highlighting the most significant global M&A deals. This essential update offers a snapshot of the latest movements and trends within the M&A market, showcasing the top transactions that stand out in the corporate world. Through this coverage, IMAA aims to furnish M&A professionals and enthusiasts alike with a comprehensive overview of the week’s M&A activities, helping them stay informed about the evolving landscape of global mergers and acquisitions.
From September 22 to September 28, the global mergers and acquisitions (M&A) market recorded 624 announced deals with a combined value of USD 63.80 billion. Twenty-five of those deals crossed the USD 500 million mark, contributing USD 52.92 billion, or 83% of the total weekly value.
The largest deal of the week was Sempra’s USD 10 billion sale of a 45 percent stake in Sempra Infrastructure Partners to KKR and CPP Investments. The transaction enables Sempra to concentrate on U.S. utility growth while reducing exposure to non-utility assets. Sempra Infrastructure operates across LNG exports, natural gas pipelines and storage, and renewable projects such as solar, wind, and battery storage. It also manages more than 1,300 MW of clean energy projects and runs a natural gas power plant that supports regional reliability.
The divestment coincides with the launch of the USD 14 billion Port Arthur LNG Phase 2 project in Texas, which will add two liquefaction trains, a storage tank, and related facilities with a capacity of about 13 million tonnes per year. Together, these developments highlight increasing institutional demand for assets tied to energy security and the energy transition, particularly LNG, which remains a key bridge between fossil fuels and renewable energy.
Compared with the previous week, deal activity increased 1.5% in volume from 615 to 624 transactions, while total value more than doubled, rising 115% from USD 29.72 billion to USD 63.80 billion.
Top 5 M&A Deals for the Week
Here are the top 5 M&A Deals for the week of September 22 to 28, 2025 in detail:
Deal No. 1: KKR & Co. Inc.; Canada Pension Plan Investment Board to Acquire Sempra Infrastructure Partners, LP for USD 10.00 Billion
Deal No. 2: Pfizer Inc. to Acquire Metsera, Inc. for USD 7.30 Billion
Deal No. 3: Compass, Inc. to Acquire Anywhere Real Estate Inc. for USD 4.20 Billion
Deal No. 4: Heineken N.V. to Acquire FIFCO’s beverage and retail businesses: Distribuidora La Florida / Heineken Panamá / Nicaragua Brewing Holding / Fifco México from Proenergy for USD 3.20 Billion
Deal No. 5: Patient Square Capital, LP to Acquire Premier, Inc. for USD 2.60 Billion
Deal No. 1:
KKR & Co. Inc.; Canada Pension Plan Investment Board to Acquire Sempra Infrastructure Partners, LP for USD 10.00 Billion
Sempra has reached an agreement to sell a 45% stake in Sempra Infrastructure to KKR and the Canada Pension Plan Investment Board (CPP Investments) for USD 10 billion.
Sempra Infrastructure develops and operates large-scale energy projects across North America with a growing global reach. Its portfolio centers on liquefied natural gas (LNG) and net-zero initiatives, renewable power generation, and advanced energy networks, supporting both energy security and the transition to a lower-carbon future.
Following completion, the KKR-led consortium will hold a combined 65% stake in Sempra Infrastructure, with Sempra retaining 25% and the Abu Dhabi Investment Authority (ADIA) maintaining its 10% ownership.
For Sempra, the divestment streamlines its business, reduces exposure to non-utility operations, and removes the need to issue common equity to fund its USD 56 billion capital program for 2025–2029. For KKR and CPP Investments, the transaction offers stable long-term returns, exposure to LNG growth opportunities, and a strategic position in North America’s energy transition.
The deal is expected to close between the second and third quarter of 2026. BofA Securities is acting as financial advisor to Sempra, while Citi is advising KKR.
Deal No. 2:
Pfizer Inc. to Acquire Metsera, Inc. for USD 7.30 Billion
Pfizer has announced plans to acquire Metsera, a biotechnology company focused on weight-loss therapies, in a transaction valued at USD 7.3 billion, including future milestone payments. The acquisition is intended to strengthen Pfizer’s presence in the fast-growing obesity drug market and expand its pipeline of metabolic treatments.
Metsera’s pipeline includes injectable and oral drug candidates targeting GLP-1 and related hormone pathways, designed to improve efficacy, safety, and treatment convenience over existing options. Among its leading assets is MET-233i, an investigational amylin analog that produced up to 8.4% placebo-adjusted weight loss within 36 days in an early-stage trial. Metsera is advancing this therapy as a potential once-monthly injectable and is also progressing other candidates, including oral GLP-1 programs that are preparing to enter clinical studies.
For Pfizer, the transaction provides a new entry point into obesity treatments after discontinuing development of danuglipron due to safety and tolerability issues. The acquisition underscores Pfizer’s shift toward external innovation to access next-generation obesity therapies with differentiated profiles.
The transaction is expected to close by year-end, subject to customary approvals. Citi is serving as Pfizer’s financial advisor, while Metsera is being advised by Goldman Sachs, Guggenheim Securities, BofA Securities, and Allen & Company.
Deal No. 3:
Compass, Inc. to Acquire Anywhere Real Estate Inc. for USD 4.20 Billion
Compass Inc., a technology-driven real estate brokerage, has agreed to acquire Anywhere Real Estate Inc. in an all-stock transaction valued at USD 4.2 billion.
Anywhere Real Estate is one of the largest U.S. residential real estate service providers, managing a portfolio of well-established brands such as Coldwell Banker, Century 21, Sotheby’s International Realty, and Better Homes and Gardens Real Estate. Its operations span brokerage, franchising, relocation, and title services, giving it a central role in the American housing market.
The merger will unite roughly 340,000 real estate professionals worldwide under a shared network, covering every major U.S. city and reaching nearly 120 countries and territories. This integration is expected to strengthen Compass’ technology-driven client solutions, while expanding the global referral system available to homebuyers, sellers, and agents.
Additionally, the deal will diversify Compass’ revenue by incorporating over USD 1 billion from Anywhere’s established franchise, title, escrow, and relocation businesses.
The deal is anticipated to close in the second half of 2026. Morgan Stanley is serving as financial advisor to Compass, while Goldman Sachs is acting in the same capacity to Anywhere.
Deal No. 4:
Heineken N.V. to Acquire FIFCO’s beverage and retail businesses: Distribuidora La Florida / Heineken Panamá / Nicaragua Brewing Holding / Fifco México from Proenergy for USD 3.20 Billion
Dutch brewing giant Heineken has agreed to acquire FIFCO’s beverage and retail operations in a USD 3.2 billion deal, significantly expanding its presence in Central America, particularly in Costa Rica and Panama, and tapping into growing opportunities in the regional beverage market.
The acquisition gives Heineken full ownership of Distribuidora La Florida, including its beverage, food, and retail divisions, which operate more than 300 outlets in Costa Rica, such as Musmanni & Musi.
The deal also includes a 75% stake in Nicaragua Brewing Holding, which owns part of Compañía Cervecera de Nicaragua, the country’s leading beverage company. In addition, it covers Heineken Panama and FIFCO’s beyond-beer operations in Mexico.
The transaction adds a diversified portfolio to Heineken’s business, including Costa Rica’s iconic beer brand Imperial, a major soft drink business with proprietary brands, and the PepsiCo bottling license. By integrating FIFCO’s established brands, local market expertise, and sustainability practices, Heineken aims to advance its EverGreen strategy and expand revenue streams across Central America.
The deal is expected to close in the first half of 2026. UBS AG is serving as financial advisor to Heineken.
Deal No. 5:
Patient Square Capital, LP to Acquire Premier, Inc. for USD 2.60 Billion
Healthcare-focused investment firm Patient Square Capital is set to acquire Premier Inc., a leading technology-driven healthcare improvement company, in a USD 2.6 billion deal.
Premier offers a comprehensive suite of services to hospitals, health systems, and other healthcare organizations, including group purchasing, supply chain management, data-driven insights, and operational performance support. Its solutions are designed to help healthcare providers cut costs, streamline operations, and enhance patient care, reaching more than two-thirds of providers across the United States.
The move to private ownership is expected to give Premier greater financial flexibility and resources to expand its technology-enabled offerings, pursue growth opportunities, and accelerate innovation in the evolving healthcare market.
The transaction is expected to close in the first quarter of 2026. Following completion, Premier will operate as a private company and will no longer be publicly listed. Goldman Sachs and BofA Securities are acting as financial advisors to Premier, while Jefferies LLC and Santander are advising Patient Square Capital.
This concludes our M&A news coverage of the top global mergers and acquisitions deals for the week of September 22 to 28, 2025. 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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