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 5th to May 11th, 2025. The data is curated from the Intellizence mergers & acquisitions Dataset.
Acquiring Company – Sunoco LP
Acquired Company – Parkland Corporation
Deal Amount – $9.1 Billion
Sunoco LP, the Texas-based fuel supplier, will acquire Canadian rival Parkland Corporation for approximately $9.1 billion. Both boards unanimously approved the deal, which will create the largest independent fuel distributor in the Americas. Pending regulatory and shareholder approvals, the transaction is expected to close in the second half of 2025.
Acquiring Company – 3G Capital
Acquired Company – Skechers USA
Deal Amount – $9.4 Billion
Private equity giant 3G Capital will acquire Skechers USA for $9.4 billion. This is the largest buyout to date in the footwear industry. The deal will see Skechers delist from the NYSE after nearly 26 years as a public company. Shareholders can opt for an all-cash payout or a combination of cash and equity in the new private entity. The transaction is expected to close in Q3 2025, pending regulatory approvals. The acquisition move comes as Skechers faces tariffs and seeks to navigate a challenging macroeconomic environment.
Acquiring Company – Erste Group
Acquired Company – Santander Bank Polska (Stake)
Deal Amount – $7.7 Billion
Austria’s Erste Group is acquiring a 49% stake in Santander Bank Polska, Poland’s third-largest bank, for about €6.8 billion ($7.7 billion), in addition to a 50% stake in Santander’s Polish asset management arm for €200 million. The deal funded internally by Erste, gives it a foothold in one of Europe’s fastest-growing and most profitable banking markets. Santander will use the funds to expand in Europe and the Americas.
Acquiring Company – CVC Capital Partners
Acquired Company – Dream Game (Stake)
Deal Amount – $5 Billion
CVC Capital Partners has acquired a majority stake in Turkish mobile gaming leader Dream Games, which values Dream Games at approximately $5 billion. The deal, provides liquidity to early venture partners and positions CVC as the sole equity owner. Dream Games, best known for “Royal Match” and “Royal Kingdom, will use the investment for global expansion and the development of new titles. The transaction is expected to close in Q3 2025, subject to regulatory approval.
Acquiring Company – OpenAI
Acquired Company – Windsurf
Deal Amount – $3 Billion
OpenAI has agreed to acquire Windsurf, an AI-assisted coding tool previously known as Codeium, for about $3 billion. This marks OpenAI’s largest acquisition to date and is expected to significantly enhance ChatGPT’s coding capabilities, positioning OpenAI to better compete in the fast-growing market for AI-powered coding assistants. The deal, still pending closure, follows Windsurf’s rapid valuation growth and is anticipated to strengthen OpenAI’s developer ecosystem.
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