The global M&A landscape is buzzing with significant deals across energy, finance, consumer brands, gaming, and artificial intelligence. Below, we highlight the top 5 major Mergers & Acquisitions (M&A) announced across various industries from May 12th to May 18th, 2025. The data is curated from the Intellizence mergers & acquisitions Dataset.
Acquiring Company – Charter Communications
Acquired Company – Cox Communications
Deal Amount – $34.5 Billion
Charter Communications has announced its acquisition of Cox Communications in a landmark deal valued at $34.5 billion, comprising $21.9 billion in equity and the assumption of $12.6 billion in debt. This strategic merger aims to create the largest cable and broadband provider in the United States, surpassing Comcast, by combining Charter’s 32 million customers with Cox’s 6.5 million subscribers across 48 states.
Acquiring Company – NRG Energy
Acquired Company – LS Power Assets
Deal Amount – $12 Billion
NRG Energy to acquire LS Power Assets in a $12 billion deal. This strategic acquisition aims to double NRG’s generation capacity to 25 gigawatts, enhancing its ability to meet the growing electricity demand driven by data centers, artificial intelligence, and electrification trends. Timeline: The transaction is expected to close in the first quarter of 2026, subject to customary regulatory approvals, including those from the Federal Energy Regulatory Commission (FERC) and the New York State Public Service Commission (NYSPSC). This acquisition will help expand NRG’s generation capacity and capabilities to meet the evolving energy demands of the digital economy.
Acquiring Company – Stonepeak & Energy Equation Partners
Acquired Company – JET Tankstellen Deutschland GmbH (Stake)
Deal Amount – $2.8 Billion
Stonepeak and Energy Equation Partners will buy a 65% majority interest in JET Tankstellen Deutschland GmbH, a leading fuel retailer in Germany and Austria, from a subsidiary of Phillips 66 for €2.5 billion (around $2.8 billion). Phillips 66 will continue to supply fuel products to JET through a multi-year agreement from its MiRO refinery in Karlsruhe, Germany. The deal is expected to close in the second half of 2025, subject to customary regulatory approvals.
Acquiring Company – Dick’s Sporting Goods
Acquired Company – Foot Locker
Deal Amount – $2.4 Billion
Dick’s Sporting Goods to buy Foot Locker for roughly $2.4 billion, an attempt by the big-box retailer to gain a global presence with shoppers. Post-acquisition, Foot Locker will operate as a standalone business unit within Dick’s portfolio, retaining its existing brands, including Kids Foot Locker, Champs Sports, WSS, and atmos. This acquisition provides Dick’s with its first significant international presence, as Foot Locker operates approximately 2,400 retail stores across 20 countries, including North America, Europe, Asia, Australia, and New Zealand.
Acquiring Company – Pan American Silver Corp.
Acquired Company – MAG Silver Corp.
Deal Amount – $2.1 Billion
Pan American Silver Corp. will acquire MAG Silver Corp. for $2.1 billion. This acquisition will enhance Pan American’s portfolio by integrating MAG’s 44% interest in the high-grade Juanicipio silver mine in Zacatecas, Mexico, operated by Fresnillo plc, which holds the remaining 56% interest. This acquisition positions Pan American Silver as a more robust and diversified silver producer in the Americas, with enhanced operational capabilities and growth prospects.
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