The cybersecurity industry is based around three pillars: identity management (like CyberArk and ForgeRock), network management (like Palo Alto) and end-point security (also provided by Palo Alto).

• Will the DoJ be concerned about Palo Alto bundling the three pillars together?
• How has regulatory thinking on bundling theory evolved from US President Joe Biden’s administration to President Donald Trump’s?
• Will officials under Trump continue to take a hard line on tech consolidation in general? And how about cybersecurity in particular?

All this and more in this week’s Dealcast.

The banking sector has seen rapid change over the last decade, and the new landscape offers opportunities for traditional banks, challenger banks, and fintech startups alike.

In the deal space, Mergermarket’s data shows around 120 financial institutions that may IPO in Europe including big names like Klarna and Revolute. Banks are also developing M&A plans for fintech service companies, and some fintechs are looking to merge and create larger platforms.

Thomas Krecek, an M&A Partner in Clifford Chance’s Frankfurt office focusing on financial services and co-head of Clifford Chance’s European Corporate M&A Practice, and Rupert Cocke, one of Mergermarket’s Europe-based senior editors, join Dealcast host Julie-Anna Needham to discuss the outlook for the banking sector, including:

• How antitrust bodies and a lack of global banking regulations in cross-border dealmaking impact the outlook for potential deals
• The role of private equity in the fintech corporate ecosystem, and how their capital is likely to help fintechs in the next stage of globalizing
• Which firms, like Advent and its purchase of Bulgarian-based tbi bank, showcase the new trends in the industry
• How entities like Unicredit offer a showcase of a new playbook to approach banking deals in Europe

All this and more in this week’s Dealcast.

Patrick Harris, Mergermarket’s senior editor based in London, joins Dealcast host Julie-Anna Needham to discuss the outlook for mining deals, including:

• Which deals are showcasing the overall trend, like IRH’s acquisitions of mines in Zambia or the Qatari’s sovereign wealth fund's investment in TechMet, an Irish company that recycles lithium batteries
• Which minerals, like lithium and copper, are critical for electrification and seeing significant investor interest
• Potential opportunities for mining in the Middle East itself, like Saudi Arabia’s alleged USD 2.5 trn worth of minerals available to be mined

All this and more in this weeks Dealcast.

Thiago Barrozo Mergermarket’s Latin America editor, joins Dealcast host Julie-Anna Needham to discuss potential outcomes with US tariffs looming, including:

• Which political factors play into the imposition of such heavy tariffs on the country
• Which sectors are likely to be most impacted by tariffs like logistics and specific agribusiness subsectors, including beef and coffee production
• Which Brazilian companies, like Embraer, are already seeing impacts caused by the announcement of potential tariffs
• Which other export markets Brazilian companies could be exploring from the EU to China

All this and more in this week’s Dealcast.

While the first half of the year was one of the worst for equity capital markets globally, some investors are beginning to feel optimistic despite continuing tariff uncertainty and global conflicts.

Volatility is not going away, but investors are showing a resiliency in their ability to ignore headlines and continue investing in strong IPO stories and strategies. Aside from new listings, there is significant demand for large liquid block trades, particularly in Europe.

Sam Kerr, Mergermarket’s global ECM editor, joins Dealcast host Julie-Anna Needham to discuss a regional breakdown of the state of equity capital markets worldwide including:

• Which IPOs could be coming to London’s stock exchange, including names like Hg Capital’s Visma
• Why block trades are where the real business is happening in greater Europe and which private equity firms are selling down listed holdings
• Why China is beginning to look to Hong Kong for dual listings rather than the US exchanges
• Which deals may be successful on the US markets and why names like Klarna and StubHub are still struggling to come to market

All this and more in this week’s Dealcast.

Rupert Cocke, Mergermarket’s senior editor based in Barcelona, joins Dealcast host Julie-Anna Needham to discuss the outlook for European? defense sector dealmaking including:

• Which defense-related companies have already undergone significant raises, like Multiverse Computing’s EUR 190m funding round in June
• How some private equity firms' early involvement in deep tech could help curb risks from uncertain wait times related to research and development
• Why certain firms are already bullish on investing in reconstruction and restoration in Ukraine
• Why ESG standards may be restrictive for LPs looking into defense investments and may favor more dual-use or cybersecurity focused companies

All this and more in this week’s Dealcast.

Mergermarket’s China editor Ling Yang joins Dealcast host Julie-Anna Needham to discuss how China is taking measures beyond reciprocal tariffs, including:

• Which Chinese companies are actively eyeing carveouts and divestitures of their US business segments
• How recent events will likely lead to delays in Chinese companies' planned US investment projects, like Envision Group’s pause on construction at its US-based battery manufacturing plant
• How mechanisms like ADRs and variable interest equity (VIEs) work to allow Chinese companies to list on US exchanges
• Why Chinese companies are considering the Hong Kong and other foreign stock exchanges over the NYSE and what the process to move listings would entail

All this and more in this week’s Dealcast.

arlos Martinez, Mergermarket’s head of energy coverage in the Americas, joins Dealcast host Julie-Anna Needham to discuss the outlook for the Mexican energy sector including:

• How these changes were taking shape prior to President Claudia Sheinbaum’s current government
• What this means for Mexico’s renewable energy sector, especially as traditional energy like oil production continues to steadily decline in the country
• Which other large energy companies are exiting the country and divesting their Mexican operations
• Why this will likely drive JVs and partnerships especially with existing domestic contractors

All this and more in this week’s Dealcast.

Charlie Taylor-Kroll, Mergermarket’s UK bureau chief, joins Dealcast host Julie-Anna Needham to discuss the outlook for the UK tech deals including:

• The details of another "merger Monday" deal announced on the same day - IonQ’s purchase of Oxford Ionics for more than USD 1bn
• Why UK tech companies are being targeted by US strategics and sponsors
• Why Craneware is resisting the trend by rejecting an offer from Bain Capital

All this and more in this week’s Dealcast.

Arezki Yaiche, Mergermarket’s France bureau chief, joins Dealcast host Julie-Anna Needham to discuss the outlook for the European luxury sector including:

• Why luxury brands could shift to focus on new markets like the UAE and Singapore
• Which deals follow the trend of localizing manufacturing, like Prada’s recent purchase of Versace
• Which brands may consider moving production to US manufacturing sites
• Why we could see more non-core asset divestitures and who could consider those divestitures

All this and more in this week’s Dealcast.