First Merchants Bank announces merger with Jeffersonville bank
The combined company is expected to continue to do business under the First Merchants Bank brand and would have combined assets of $21 billion.
Mergers & Acquisitions
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Pfizer amps up push into obesity treatments with $4.9B deal for Metsera
Demand for obesity treatments has soared recently, due to unprecedented weight loss provided by regular injections of market leaders Wegovy from Novo Nordisk and Zepbound from Indianapolis-based Eli Lilly and Co.
Indianapolis-based WSI Technologies under new ownership
Indianapolis-based The September Group purchased the companies that would eventually create WSI—which offers secure audio and video recording solutions for public safety and child welfare organizations—in 2020.
Carmel-based Splenda maker Heartland Food acquires Slimfast US brand
Slimfast, founded in 1977, is known for its once-popular line of meal-replacement shakes, but the brand has struggled with the emergence of new weight-loss pharmaceuticals.
Potbelly being acquired by gas station chain RaceTrac for $566M
Potbelly, which was founded in Chicago in 1977, has 445 restaurants across the United States, including four locations in the Indianapolis area and seven others statewide.
U.S. Steel to end steel production in Illinois, ‘optimize’ operations in Indiana, Pennsylvania
U.S. Steel will cut production at the Illinois plant, likely in November, but it won’t lay off any of the roughly 800 workers there or reduce their pay, it said.
Musk’s SpaceX spends $17B to acquire spectrum licenses from EchoStar
EchoStar said recent deals will resolve inquiries from the Federal Communications Commission about the rollout of 5G technology.
PNC to expand westward with $4.1B acquisition of FirstBank
PNC has been on an acquisition streak in the last few years to make the bank one of the biggest players in retail banking in the country.
Security products company Allegion on acquisition spree in 2025
Allegion, whose Americas division is based in Carmel, has completed nine acquisitions so far this year—a significant increase from recent years.
Carmel-based SePro acquires California-based AI startup
SePro offers water-quality analysis services and chemicals that address problems such as algae blooms and invasive weeds in surface water sources ranging from backyard ponds to large lakes and reservoirs.
Dealmakers top $1T in M&A in busiest August since 2021
The summer surge shows how dealmakers have continued their strong recovery from what was a disappointing start to the year.
Illinois Street Food Emporium changing ownership
Vivian Farris, who acquired the cafe, bakery and catering business in 2014 from founders Ernie and Sue Kobets, is set to retire after a long career in the food-service business.
Lawrence-based Schneider Geospatial acquires Boston software firm
Lawrence-based software firm Schneider Geospatial, which has more than doubled its employee base over the past three years, just acquired its fifth company since 2022.
The $6.2B deal that could reshape local TV in Indianapolis and across America
TV watchers in Indianapolis might soon flip through the local news channels and find three of them owned and their broadcasts produced by the same company.
Lowe’s intensifies focus on professional builders with $8.8B acquisition
Lowe’s is buying Foundation Building Materials, a distributor of drywall, insulation, metal framing, ceiling systems, commercial doors and other products that serve large residential and commercial professionals.
Nexstar Media buying Tegna in $6.2B deal involving major owners of TV stations
Nexstar is the parent of Indianapolis Fox affiliate WXIN-TV Channel 59 and CBS affiliate WTTV-TV Channel 4. Tegna is owner of Indianapolis NBC affiliate WTHR-TV Channel 13.
MSNBC to change name as part of corporate divorce from NBC
The name change was ordered by NBC Universal, which last November spun off cable networks USA, CNBC, MSNBC, E! Entertainment, Oxygen and the Golf Channel into its own company, called Versant.
Taft announces merger, boosting presence in Atlanta, Washington, D.C., markets
The merger adds more than 100 lawyers to the Taft team, which will soon have more than 1,200 attorneys in 25 offices nationwide.
Indy Ignite part of new professional women’s volleyball league after merger
The merger between the Pro Volleyball Federation and start-up Major League Volleyball, announced Tuesday morning, will create one unified professional women’s volleyball league that will play under the MLV name.
Illinois-based trash collector acquires Indianapolis company ahead of 2026 city contract
Approximately 60 employees from the locally owned and operated company will join Lakeshore Recycling Systems as part of the deal, officials said.