How the disruption in the Strait of Hormuz continues to ripple through energy markets, trade routes, and geopolitics.

Hg Capital’s $6.4bn take-private of OneStream exposes a market disconnect: public investors punished short-term losses, while private equity saw long-term dominance in CFO software. What looked like weakness became a bargain for patient capital.

Devon Energy and Coterra Energy have merged in a $58B deal, which highlights the “mega-independent” trend in U.S. shale amidst a rising demand for natural gas to power AI data centers and LNG exports.

Roark Capital’s $9.6bn takeover of Subway wagers that disciplined franchising, digital upgrades, and margin-focused innovation can revive a fading giant. Predictable royalties and heavy leverage offer upside, if franchisee trust and brand relevance can be restored.

Synopsys’ $35B acquisition of ANSYS is more than a software merger; it’s a bid to control the full lifecycle of digital product design. By combining chip design with simulation and AI-driven optimization, the deal could accelerate innovation worldwide.