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Home » Mergers & Acquisitions

Mergers & Acquisitions

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Sun King Brewing acquires ’Shmallow whiskey, other Hotel Tango spirits

April 28, 2026
Dave LindquistDave Lindquist

Tuesday’s announcement marks the end of an era for Hotel Tango, which launched in 2014 as one of Indiana’s first microdistilleries.

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Q&A: Investment banker Phil Daniels on the mechanics and emotions of selling a company

February 27, 2026
Lesley WeidenbenerLesley Weidenbener

Eighteen months ago, Daniels took moved from entrepreneur to adviser when he became president of the Indiana office of Cincinnati-based investment bank ArkMalibu.

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Splenda maker Heartland Food acquires Equal maker’s Americas business

May 22, 2026 | Elissa Maudlin

The deal for the Americas business of Whole Earth Brands Inc. gives Carmel-based Heartland control of two of the top-selling artificial sweetener brands sold in the United States.

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Keystone Group buys downtown Sheraton hotel with plans for overhaul, rebranding

May 22, 2026 | Mickey ShueyMickey Shuey

The 378-room hotel near Monument Circle is expected to take on an upscale brand owned by Maryland-based hotelier Marriott, as part of a substantial facelift for the property.

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NextEra, Dominion seek to create massive power company with $67B deal

May 18, 2026 | Associated Press

The deal would create the world’s biggest regulated electric utility business by market capitalization, the companies said Monday.

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Indy-based accounting tech firm Decimal switches business model, signs first franchisees

May 15, 2026 | Susan OrrSusan Orr

Decimal has sold off the direct services part of its business and is now focused on a new source of revenue: franchising its platform to independent accounting firms. 

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Allegiant Air and Sun Country complete merger, creating larger budget airline

May 14, 2026 | Associated Press

Allegiant says the expanded network is expected to give travelers more options, especially in smaller and mid-sized markets.

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OfficeWorks expands into new markets through merger with Cincinnati firm

May 12, 2026 | Mickey ShueyMickey Shuey

The deal expands Fishers-based OfficeWorks’ reach into Cincinnati, Dayton and Memphis.

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Indianapolis-based Arcwood Environmental acquires Alabama company

May 12, 2026 | Susan OrrSusan Orr

The acquisition is the fifth in 18 months for Arcwood, an environmental services firm that until last year operated as Heritage Environmental Services.

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Online seller eBay rejects GameStop’s $56B takeover offer

May 12, 2026 | Associated Press

GameStop disclosed earlier this month that it was pursuing a takeover of eBay, seeing it as a vehicle to compete with online retail giant Amazon.

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Lilly looks to sell about $8B of debt to fund acquisitions

May 7, 2026 | Bloomberg News

The move comes as Lilly has embarked on a spree of large acquisitions, including two of its most-expensive transactions ever.

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Shares of eBay jump on $56B buyout bid from GameStop

May 4, 2026 | Associated Press

The national gaming retailer said that its 1,600 or so U.S. stores could become drop-off and shipping locations for the online commerce giant.

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United Airlines CEO Scott Kirby says merger with American Airlines would be good for travelers

April 27, 2026 | Associated Press

United Airlines CEO Scott Kirby on Monday argued that a merger between the iconic airlines would expand service, create a globally competitive airline and boost the U.S. economy.

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Eli Lilly headquarters

Lilly acquiring cancer-drug firm Ajax Therapeutics in deal worth up to $2.3B

April 27, 2026 | Daniel Bradley

The acquisition is the latest in a series of recent deals that Indianapolis-based Eli Lilly and Co. has made to increase its cancer-treatment pipeline.

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Warner Bros shareholders approve Paramount’s $81B takeover of the Hollywood giant

April 23, 2026 | Associated Press

A Paramount purchase means HBO Max, cult-favorite titles like “Harry Potter” and CNN could soon find themselves under the same roof with CBS, “Top Gun” and the Paramount+ streaming service.

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UPDATE: Eli Lilly acquiring Boston-based biotech in deal worth up to $7B

April 20, 2026 | IBJ Staff

Lilly has been bringing in record revenue from its weight-loss medicines, but continues to diversify its pipeline candidates through acquisitions of biotech companies that are developing new genetic therapies for cancer and other disorders.

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NYC-based Wealthspire acquires Indianapolis financial firm, eyes future local growth

April 10, 2026 | Susan OrrSusan Orr

Indianapolis-based financial firm Axia Advisory has been acquired by a New York City-based firm that says it plans to use the acquisition as the basis for expansion in this market.

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Ackman’s Pershing Square makes $64B bid for Taylor Swift label Universal Music Group

April 7, 2026 | Associated Press

Kendrick Lamar, The Weeknd, Adele, Harry Styles, Bad Bunny, Sabrina Carpenter, Post Malone, Ariana Grande, and Coldplay.

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Boone County’s Witham Health Services plans to join Parkview Health

April 7, 2026 | Daniel Bradley

Witham’s announcement comes amid a series of recent moves by Parkview Health involving expansion into areas of the state away from its headquarters in Fort Wayne.

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Q&A: Resultant CEO talks about strategy in buying M&A firm

April 3, 2026 | Susan OrrSusan Orr

Greg Layok said in evaluating a potential acquisition, “strategic fit is very important, but culture is even more important.”

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Carmel-based SePro acquires Arkansas water treatment company

April 1, 2026 | Alex Brown, Inside INdiana Business

SePro said the acquisition expands its portfolio of science-led water treatment solutions and strengthens support for water managers and municipalities.

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Indianapolis-based Resultant acquires Chicago consulting firm

March 31, 2026 | Susan OrrSusan Orr

Indianapolis-based data technology and consulting firm Resultant has acquired a Chicago-based consulting firm.

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This Week

MAY 22-28, 2026

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IBJ Digital Edition

Lilly goes on $21B buying spree to build drug pipeline

Daniel Bradley

Health care summit uses IMS to draw together leaders from across sector

Tom Murphy / Special to IBJ

Q&A with Schahet Hotels CEO Jeffrey Brown about collaboration with Ball State

Dave Lindquist
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