Legal insights and practical guides on U.S. market entry, corporate structuring, commercial contracts, international trade and dispute resolution for Turkish companies and investors.
OFAC designated three European and transnational organizations and two senior figures under E.O. 13224, triggering immediate blocking, 50-percent-rule and secondary-sanctions considerations.
Q3 2026 brought significant regulatory developments across immigration, trade, securities, employment, and financial compliance that affect Turkish companies and individuals with US operations. This roundup covers the most important changes and what they mean for Turkish-US business.
Two material U.S. legal and regulatory developments for August 23, 2026: CBP confirms the 50% Section 338 additional duties on specified Canadian goods became operative at 12:01 a.m. ET on August 22 — importers must now act, not plan; and USITC institutes Investigation No. 337-TA-1518 covering rechargeable cylindrical batteries and products containing them, with LG Energy Solution seeking exclusion orders against EVE Energy, Robert Bosch, Koki Holdings, and Chervon.
Four material U.S. legal and regulatory developments released August 20–21, 2026: OFAC issues Venezuela General Licenses 61 and 62 opening telecommunications to U.S. commerce and contingent investment; GL 131I extends the Lukoil International divestment window to September 19; DOJ secures a $400 million TikTok/ByteDance COPPA settlement; and Commerce issues simultaneous AD/CVD orders on silicon metal from Australia and Norway.
Five transactions across US markets and Turkey: Trustar Bank acquires two Forbright Bank branches and approximately $750 million in deposits for a ~$19 million premium; Marquee Brands takes Canadian retailer Roots private at C$4.10 per share; Real Brokerage–RE/MAX proration results announced ahead of August 24 closing; BSTR–Cantor Equity Partners I SPAC combination terminated; and Metro Ticari acquires 5% of Metro Yatırım Ortaklığı carrying 44.12% voting rights for TL 85 million in a control-plus-transformation transaction.
Two material U.S. legal and regulatory developments on August 20, 2026: Treasury and the IRS propose major limits on the Section 250 foreign-derived income deduction for asset and IP sales, and the SBA proposes a wholesale revision of small-business size standards with significant implications for construction contractors and federal procurement.
Two material U.S. legal and regulatory developments on August 19, 2026: the SEC proposes Regulation Crypto Assets — a new federal offering regime with $5 million and $75 million exemptions and a conditional investment-contract safe harbor — and the USITC institutes Investigation No. 337-TA-1517 targeting imported transformers and components, with potential exclusion-order implications for utilities, data-center developers, and EPC contractors.
Five material U.S. legal and regulatory developments on August 18, 2026: CBP begins voiding Importer of Record numbers for inaccurate Form 5106 data (enforcement starts ~September 18); Commerce sets a September 30 deadline for USMCA automobile U.S.-content determinations; ITC confirms Turkish rectangular steel pipe antidumping orders continue; a federal court permanently blocks the $725 million Loctite–Liquid Nails acquisition; and USDA proposes rescinding federal construction standards for Rural Development housing.
Six transactions across the Turkey–US corridor and US markets: Munich Re acquires US cyber insurer At-Bay for $575 million; Ridgeview Infrastructure Partners acquires Pinewood Structures for approximately $739 million; FORT Robotics merges with Nasdaq-listed Pono Capital Four in a $556.6 million SPAC deal; Metro Holding acquires Efes Ulaşım; and Efor Holding completes a significant portfolio restructuring.
US contract law differs significantly from Turkish contract law in formation requirements, implied terms, remedies, and dispute resolution. Turkish companies entering US commercial relationships must understand the key differences to negotiate effectively and protect their interests.
Two developments meeting the materiality threshold with direct relevance to real estate/federal-property transactions and construction and energy-infrastructure procurement: GSA finalizes removal of disparate-impact liability from its Title VI regulations; Commerce sets final antidumping rates for Korean large power transformers.
Five transactions across the Turkey–US corridor and US markets: Blackstone closes its $1.58 billion acquisition of Hipgnosis Songs Fund; Kyndryl and DXC Technology announce a strategic services partnership with equity component; Delaware Court of Chancery grants final approval to the Paramount–Skydance merger; Alarko Carrier completes its HVAC equipment acquisition; and Yıldız Holding provides an update on the Godiva restructuring.
Four developments meeting the materiality threshold for cross-border business, commercial lending, tax/compliance and financial-sector investment: the House introduces the Senate-passed Russia/Iran sanctions package; OCC/FDIC CRA proposal enters the Federal Register; Treasury and IRS issue proposed rules for employer Trump Account contributions; and the FDIC adopts a faster two-stage deposit-insurance application process.
Eight transactions across the Turkey–US corridor and US markets: Bulls Girişim acquires 27.18% of Sekuro Plastik for $7.77M; Enlila secures majority control of US biotech Crescenta Biosciences for $24M; Bernhard Capital takes Bowman private at ~$1B; Archer Aviation acquires three Boeing subsidiaries; plus Samsung SDI–GM JV exit and H&R REIT's $4.81B break-up.
The O-1 nonimmigrant visa and EB-1A immigrant visa (green card) are available to Turkish professionals with extraordinary ability in their field. Unlike H-1B, these visas have no annual cap and no lottery. This guide explains how Turkish professionals can build a compelling extraordinary ability case in 2026.
Alarko Holding has signed a binding SPA to acquire Carrier Global's 42.03% stake in Alarko Carrier for $16.8 million — a transaction combining control transfer, JV termination, mandatory tender offer, and a simultaneous brand carve-out.
Safe Harbor Marinas, a Blackstone Infrastructure portfolio company, has signed a definitive agreement to acquire MarineMax for approximately $1.5 billion enterprise value — a take-private combining marina infrastructure, boat retail, yacht manufacturing, and superyacht services.
Miami-based I Squared Capital has agreed to acquire ASX-listed oOh!media for approximately AUD 898 million equity value — a scheme of arrangement that brings over 30,000 digital and static advertising assets across Australia and New Zealand under U.S. private equity infrastructure ownership.
Koç Holding has acquired approximately 0.67% of Ford Otosan from group affiliate Temel Ticaret for TL 1.85 billion, raising its direct stake to approximately 39.32% in the flagship Turkey–U.S. automotive joint venture.
New York and Paris-based OpenGate Capital has agreed to acquire Maersk Training and Maersk H2S Safety Services from A.P. Møller–Mærsk — a cross-border carve-out separating approximately 700 employees and multi-jurisdiction training and safety operations from one of the world's largest shipping groups.
QVC Group has completed its prepackaged Chapter 11 reorganization, eliminating approximately $5 billion in debt and emerging as a recapitalized public company with approximately $1.3 billion in new takeback debt and a $600 million ABL facility — a textbook debt-for-equity restructuring in the retail sector.
Teledyne Technologies has agreed to acquire Varex Imaging Corporation for approximately $1.1 billion — combining Teledyne's imaging sensors and electronics with Varex's X-ray sources, detectors, and imaging software across medical, industrial, and security applications.
TPG Mortgage Investment Trust and Cherry Hill Mortgage Investment Corporation have agreed to merge at an implied value of approximately $117.5 million — a fixed exchange ratio public REIT merger with a cash component funded in part by TPG, creating a combined mortgage investment portfolio of approximately $9 billion.
Akbank T.A.Ş. announced on August 7, 2026 the sale of a non-performing loan portfolio with a nominal value of TL 1.247 billion to Emir Varlık, Gelecek Varlık, and Sümer Varlık for a total consideration of TL 218 million — approximately 17.5% of nominal value. The transaction illustrates the legal mechanics of NPL portfolio transfers in Turkey: collateral chain continuity, debtor notifications, ongoing enforcement proceedings, and KVKK data transfer compliance.
Axum Capital Partners has agreed to acquire a controlling stake in Drink Barcode Inc. (BARCODE), a performance and hydration beverage brand co-founded by NBA player Kyle Kuzma and endorsed by Victor Wembanyama. The transaction illustrates the due diligence framework for consumer brand acquisitions where economic value resides in IP, distribution relationships, and athlete endorsements rather than physical assets.
Global Ports Holding completed the acquisition of an additional 10% indirect stake in Lisbon Cruise Port from Royal Caribbean on August 6, 2026, raising its total indirect interest from 50% to 60%. The transaction raises important questions about control thresholds, concession change-of-control provisions, and the commercial dynamics of a shareholder that is also a major customer.
Resideo Technologies completed the spin-off of ADI Global Distribution as an independent public company on August 3, 2026. ADI began trading on the NYSE under the ticker ADIG on August 4. The transaction illustrates the post-separation legal framework that governs spin-offs: the Separation and Distribution Agreement, tax-free status preservation, shared contract separation, and the operational constraints that bind both companies for years after closing.
Sunrise Realty Trust (SUNS) and Southern Realty Trust (SRT) have entered into a definitive merger agreement under which SRT will merge into a SUNS subsidiary. The all-stock transaction values SRT at 1.45 SUNS shares plus $0.05 cash per SRT share. Because both REITs share the same sponsor and management ecosystem, the transaction raises important questions about conflict committee process, fairness opinions, fiduciary duties, and the go-shop mechanism that runs through September 5, 2026.
Advanced Micro Devices has agreed to acquire Toronto-based Taalas, a developer of custom silicon for AI inference workloads. The transaction advances AMD's full-stack AI strategy against Nvidia and raises important due diligence questions around semiconductor IP chains, Canadian foreign investment review, and export control compliance.
Mastercard completed its acquisition of BVNK on August 3, 2026, for up to $1.8 billion — approximately $1.5 billion base consideration plus up to $300 million in contingent payments. BVNK connects fiat currency with stablecoin and blockchain payment infrastructure. The transaction raises important questions around payment license transfers, AML/KYC continuity, earn-out structuring, and cross-border data transfer compliance.
Solairus Aviation has agreed to acquire Clay Lacy Aviation's Aircraft Management and Charter divisions in a carve-out that will create the world's largest managed private aircraft fleet — exceeding 500 aircraft. The transaction raises important legal questions around assignment of management contracts, FAA/DOT regulatory continuity, and transition services.
Sunoco LP has agreed to acquire Offen Petroleum — a fuel distributor serving approximately 7,000 customers and 800+ retail stations across the U.S. Midwest, Mountain West, and Southwest — for approximately $600 million in cash. The transaction raises important due diligence questions around environmental liabilities, HSR review, and fuel distribution contract structures.
Delaware Chancery Court has ruled that Verisk Analytics' termination of its $2.35 billion acquisition of AccuLynx was invalid, ordering Verisk to proceed toward closing. The August 7, 2026 decision is a landmark ruling on the prevention principle, regulatory efforts covenants, and specific performance in M&A agreements.
Turkish exporters shipping goods to the US face a complex customs and trade compliance framework: HTS classification, most-favored-nation tariff rates, antidumping and countervailing duty orders, CBP entry requirements, and country-of-origin rules. Getting these right is essential for cost management and avoiding costly penalties.
Three significant U.S. regulatory developments effective August 3, 2026: the State Department finalizes a permanent Visa Bond Program requiring B-1/B-2 applicants from 50 designated countries to post bonds of $10,000–$20,000; the FCC announces Auction 115 for 3,248 Upper C-band licenses tentatively scheduled for April 27, 2027; and DOE and FERC advance two major LNG expansion proceedings in Louisiana and Texas. Each development carries immediate compliance and planning obligations for businesses, investors, and infrastructure participants.
ITOCHU Corporation has signed a basic agreement to acquire a 50% stake in TC Skyward Aviation U.S. Inc., the U.S. holding company that owns Aviation Capital Group LLC, from Tokyo Century Corporation for approximately $1.946 billion. The transaction will establish equal joint control over ACG, one of the world's major aircraft leasing platforms, with a definitive agreement expected in August 2026 and closing targeted for November 2026.
Italy-based Prysmian S.p.A. has entered into a definitive merger agreement to acquire U.S.-listed Atkore Inc. for $95 per share in cash, representing an enterprise value of approximately $3.8 billion. The transaction combines cable manufacturing with conduit, cable management, and structural framing systems, positioning Prysmian as an integrated electrical infrastructure provider for data center and AI buildout demand.
Supernus Pharmaceuticals and Indivior Pharmaceuticals have entered into a definitive all-stock merger agreement to combine their neurology, psychiatry, and addiction treatment portfolios under a single commercial platform. Indivior shareholders will receive a $1 billion special cash dividend prior to closing, with the combined company retaining the Supernus name and trading on Nasdaq under 'SUPN.'
The most significant Turkey–U.S. cross-border development in the review period is the completion of Freedom Holding Corp.'s acquisition of approximately 99.3% of Turkish Bank A.Ş. through its Turkish subsidiary, with the bank to be renamed Freedom Bank A.Ş. U.S. deal activity includes the Space-Eyes SPAC merger at a $638 million valuation, Everus Construction's $295 million acquisition of Epsilon Industries, the closing of Deluxe's $625 million acquisition of Celero Commerce, IonQ's completion of its SkyWater Technology acquisition, and the merger of two Western Asset closed-end municipal bond funds. Electronic Arts received all required regulatory approvals, moving the $55 billion PIF-led acquisition to closing.
Four major U.S. regulatory developments effective August 2026: DHS adds 43 companies to the UFLPA Entity List in the largest single expansion to date; IRS proposes CFC taxable-year and foreign-tax-credit regulations; FCC opens a proceeding to prohibit importation of foreign military-grade drones; and EPA proposes the 2027 Construction General Permit. Each development carries immediate compliance obligations for importers, multinationals, drone operators, and construction contractors.
Eczacıbaşı Holding's sale of Sanipak — owner of the Selpak and Solo brands — to Malaysian buyer Arch Peninsula Sdn Bhd closed on July 31, 2026 at a final consideration of $600 million, following receipt of all required regulatory approvals. The transaction, signed on March 20, 2026, marks one of the largest consumer-goods divestitures by a Turkish conglomerate in recent years and transfers two of Turkey's most widely recognized household brands to a leading integrated pulp, paper, and packaging group.
Three material U.S. legal and trade developments effective July 31, 2026: the Section 232 company-specific pharmaceutical tariff regime becomes operative for 17 named companies including AbbVie, Amgen, AstraZeneca, Eli Lilly, Pfizer and Novartis, with rates ranging from 0% to 100% depending on onshoring and pricing-agreement status; OFAC designates six persons and entities in China, India, Russia and Iran supporting sanctioned carrier Mahan Air and the IRGC; and Commerce issues a preliminary affirmative CVD determination on truck-bed covers from China with rates up to 100.95% for non-cooperating exporters.
The day's headline Turkey-side transaction is the completion of AE Mercan Distile İçecekler's acquisition of a 60% stake in Tariş Üzüm for a final consideration of $25.4 million. On the direct Turkey–U.S. axis, İş Girişim portfolio company Enlila Sağlık closed a $24 million majority investment in U.S.-based Crescenta Biosciences. U.S.-linked international deal flow includes Blackstone's agreement to acquire HSBC Australia's $25 billion mortgage portfolio and Nscale's reported $1.65 billion acquisition of Anyscale.
Three material U.S. legal and regulatory developments scheduled for Federal Register publication on July 31, 2026: the FCC reallocates 160 MHz of Upper C-band spectrum for terrestrial wireless use with estimated aircraft-rebate liabilities of $3.83–$5.71 billion; the FCC mandates baseline cybersecurity controls for Emergency Alert System participants effective 60 days after publication; and Commerce concludes that revoking antidumping-duty orders on mattresses from six countries including Turkey would likely result in continued dumping, identifying a likely margin of up to 20.03% for Turkish exporters.
The day's headline transaction is Intercontinental Exchange's agreement to acquire bond-trading platform MarketAxess at an enterprise value of approximately $5.7 billion. In Turkey, a binding share transfer agreement was signed for the preferred shares of ICU Girişim Sermayesi, transferring the lead shareholder's stake to DANİSTA Finansal pending regulatory approval.
The U.S. Department of Commerce issued final affirmative antidumping and countervailing duty determinations covering steel concrete reinforcing bar from Bulgaria, Egypt, and Vietnam. Rates range from 23.27% (Egypt CVD) to 136.57% (Vietnam-wide antidumping entity). These are final Commerce determinations, not yet final duty orders — the USITC must still make affirmative injury determinations, generally within 45 days, before orders can be issued. Antidumping suspension of liquidation generally covers entries made on or after March 13, 2026.
The FCC has proposed withdrawing continued importation and marketing authority for specified unmanned-aircraft equipment associated with nine manufacturers — Cogito, Fikaxo, Lyno Dynamics, Skyhigh Tech, Spatial Hover, SZ Knowact, WaveGo, Xtra, and XAG — based on national-security determinations. The proposal would not prohibit continued operation of equipment already purchased. Comments are due 30 days after Federal Register publication; if finalized as proposed, affected importation and marketing would generally have to cease within 30 days of the final action.
OFAC designated Persian Gulf Marine Insurance Company and HormuzSafe Marine Services Authority for their alleged roles in an IRGC-backed scheme requiring vessels transiting the Strait of Hormuz to purchase compulsory maritime insurance. Treasury notes that HormuzSafe accepts Bitcoin and other digital assets. OFAC also designated vessel owners, managers, and eight vessels connected with Iran's petroleum trade, with certain parties expressly identified as presenting secondary-sanctions risk.
Criteo S.A. completed a cross-border conversion from France to Luxembourg on July 29, 2026, terminating its ADS program and listing ordinary shares directly on Nasdaq under 'CRTO.' The board has simultaneously approved a second cross-border merger to redomicile from Luxembourg to the United States, subject to shareholder approval, with closing expected in January 2027 and a planned transfer from Nasdaq to NYSE.
Bloomberg L.P. has signed a definitive agreement to acquire Canoe Intelligence, a financial technology company that automates the collection, classification, and delivery of private fund data to portfolio systems. Canoe processes more than 1.5 million documents per month for over 44,000 funds and serves more than 500 institutional clients with assets exceeding $11 trillion. The acquisition extends Bloomberg's data franchise from public markets into private equity, private credit, and alternative investments.
Synlogic Inc. and private company Caldera Therapeutics Inc. have announced an all-stock merger in which both companies will become subsidiaries of a newly formed holding company, to be named Caldera Therapeutics and listed on Nasdaq under 'CALD.' Simultaneously, the transaction includes approximately $278 million in PIPE financing. Economically, the transaction is a reverse merger: private Caldera uses Synlogic's public company infrastructure to access the capital markets.
Bain Capital and Tillman Global Holdings will invest $1.5 billion in Eaton Fiber to finance its acquisition of Ripple Fiber and the construction of new fiber networks. Simultaneously, Verizon will acquire Ripple's existing customers and certain network assets in North and South Carolina. The transaction is a three-way infrastructure unbundling: Eaton Fiber takes the network platform, Verizon takes the customer relationships, and investors provide the growth capital.
AT&T has completed its acquisition of wireless spectrum licenses from EchoStar Corporation for approximately $23 billion, adding approximately 50 MHz of national spectrum capacity to its 5G portfolio. The portfolio includes approximately 30 MHz of 3.45 GHz mid-band and approximately 20 MHz of 600 MHz low-band spectrum covering nearly all U.S. markets. The transaction is a regulated asset acquisition, not a corporate takeover.
Kansai Paint Co. Ltd. has signed a definitive agreement to acquire the remaining 50% stake in Polisan Kansai Boya Sanayi ve Ticaret A.Ş. from Marmara Holding A.Ş. for $93 million, converting a 50-50 joint venture into a wholly owned subsidiary. The transaction, expected to close in October 2026, positions Turkey as a regional hub for Kansai Paint's Europe, Middle East, and Africa operations.
Azimut Group has signed a definitive share purchase agreement to acquire 100% of Yapı Kredi Portföy Yönetimi A.Ş. for up to TRY 16.4 billion, including a 15-year exclusive distribution arrangement through Yapı Kredi's retail and private banking network. The transaction pairs a straightforward asset management acquisition with a long-term commercial contract that generates most of the deal's economic value.
The Department of Commerce has established a new Engine Offset Process allowing U.S. manufacturers of automobile and medium/heavy-duty vehicle engines to offset certain Section 232 tariffs incurred on imported vehicle and engine parts. Applications open upon Federal Register publication on July 29, 2026. Qualifying manufacturers may receive offsets equal to 3.75% of the aggregate value of eligible engines assembled in the United States.
OFAC has removed 84 individuals and entities and enhanced identifying information for 22 list entries as part of its sanctions-modernization initiative. OFAC also consolidated 18 duplicate entries — administrative deletions that do not constitute true delistings, as the underlying persons and property remain sanctioned under retained entries. Banks, multinationals, and screening providers must promptly refresh databases and carefully distinguish genuine removals from administrative consolidations.
USDA has issued an interim rule, effective upon Federal Register publication on July 29, 2026, addressing certification of wetland determinations made after November 28, 1990. Certified determinations may serve as the basis for denying USDA commodity programs, agricultural loans, and crop-insurance subsidies where agricultural production occurs on converted wetlands. Purchasers, lenders, and investors in U.S. agricultural land face new due diligence obligations.
Turkish Petroleum Corporation (TPAO) has acquired a 15% stake in BP Energy Company of Kirkuk Limited (BP ECKL), forming a three-way consortium with BP and ConocoPhillips to develop and increase production from Kirkuk oil fields estimated to contain approximately 3 billion barrels of hydrocarbon reserves. The signing ceremony was held in Ankara during the official visit of Iraqi Prime Minister Ali al-Sudani to Turkey.
A consortium of Blackstone, Brookfield, and KKR has agreed to acquire a 49% stake in Kuwait Oil Company's 13 oil pipeline network under a 20.5-year lease-and-leaseback structure valued at approximately $16 billion. Kuwait Petroleum Corporation is expected to receive approximately $7.85 billion at closing. KOC retains 51% ownership and full operational control.
KKR and Energy Capital Partners have reached a definitive agreement to acquire DCC Energy for £5.75 billion (approximately $7.68 billion) at £65.25 per share, plus a 147.22 pence final dividend and a contingent payment of up to £1.25 per share linked to the sale of the Nexora technology division. The board-recommended offer represents approximately a 26% premium to DCC's pre-approach share price.
Pentair plc has signed a definitive agreement to acquire Taco Group Holdings for approximately $1.4 billion, adding a leading manufacturer of hydronic HVAC pumps, valves, and heat exchangers to its water solutions portfolio. The transaction is expected to close in Q4 2026 and is projected to generate approximately $30 million in annual cost synergies.
S&P Global has announced the acquisition of a majority stake in Agusto & Company Limited, a Pan-African credit rating agency with licenses in Nigeria, Kenya, Rwanda, and Ghana. Agusto will continue to operate as a separate rating agency, publishing its own ratings and methodologies in compliance with local regulations, while benefiting from S&P Global's global analytical resources and market access.
S&P Global has announced the acquisition of datacenterHawk, a data center market intelligence platform tracking supply, demand, pricing, and fiber infrastructure for AI and hyperscale data center investments. The transaction will integrate datacenterHawk's asset-level data with S&P Global's 451 Research, power grid, and energy market datasets to create a unified AI infrastructure intelligence platform.
Tera Yatırım Teknoloji Holding A.Ş. has acquired 80% of newly incorporated Tera Robotik Sanayi ve Teknoloji A.Ş. for TRY 800,000 at nominal value, establishing a dedicated subsidiary for future robotics and automation investments within the Tera group structure.
Wynnchurch Capital has signed a definitive agreement to acquire Luxfer Holdings PLC for approximately $462.7 million at $17.37 per share, taking the NYSE-listed advanced materials manufacturer private. The transaction will be implemented via a UK court-sanctioned scheme of arrangement, with closing expected before year-end 2026.
The U.S. Department of Commerce has issued a final antidumping duty order covering specified multifunctional acrylate and methacrylate monomers and epoxy-acrylate oligomers from South Korea, with rates ranging from 65.72% to 155.42% — creating immediate supply chain and contract review obligations for chemical importers and UV-curable raw material purchasers.
EPA has finalized extensions to Workplace Chemical Protection Program requirements for perchloroethylene and carbon tetrachloride, moving key monitoring, ECEL compliance, and training deadlines into 2027 — while leaving dermal-protection obligations unchanged and effective immediately.
OFAC has sanctioned more than 50 Mexican individuals and entities linked to the Cartel de Jalisco Nueva Generación under both narcotics and counterterrorism authorities, blocking property within U.S. jurisdiction and triggering immediate rescreening obligations for banks, importers, energy companies, and logistics operators.
Presidential Determination No. 2026-18 approves the proposed U.S.–Saudi civil nuclear cooperation agreement under Section 123 of the Atomic Energy Act, authorizing the Secretary of State to arrange for execution — a major procedural milestone that opens the door for U.S. nuclear vendors, EPC contractors, and investors to begin structuring prospective projects.
The Committee on Foreign Investment in the United States (CFIUS) reviews foreign acquisitions of US businesses for national security implications. Turkish buyers of US companies must understand when CFIUS review is required, what triggers mandatory filing, and how to structure transactions to minimize CFIUS risk.
North American technology investment fund Aquila has acquired Enocta, Turkey's most established corporate e-learning platform, through its German portfolio company Comosoft GmbH. With over 2.5 million users since 1999, Enocta marks Aquila's first direct investment in Turkey and signals the country's EdTech sector's growing appeal to international capital.
The Slim family — through Grupo Financiero Inbursa, Control Empresarial de Capitales, Fundación Telmex, and Fundación Carlos Slim — has acquired a 5.1% minority stake in Turkcell, Turkey's largest GSM operator, via NYSE-listed American Depositary Shares. The acquisition required an SEC filing and represents 111.2 million ordinary shares. Carlos Slim, whose father Khalil Salim Haddad Ağlamaz emigrated from Ottoman Lebanon to Mexico in 1902, holds a net worth of approximately $125 billion and controls America Movil, the world's fifth-largest mobile network operator by subscribers.
The most significant Turkey-linked development of the period is U.S.-based Platinum Equity's agreement to become a 50% partner in Nestlé's global water operations — a joint venture that reportedly includes Erikli Su in Turkey. In the U.S., Berkshire Hathaway completed its $8.5 billion acquisition of Taylor Morrison, while the Paramount–Warner Bros. Discovery mega-deal was frozen pending state antitrust litigation.
Three material U.S. legal and regulatory developments: the 10% Section 122 temporary import surcharge expired at 12:01 a.m. EDT on July 24, 2026; the FCC finalized a new licensing and foreign-adversary control regime for submarine-cable infrastructure effective September 25, 2026; and the OCC released proposed application forms implementing the GENIUS Act stablecoin licensing framework with comments due September 25, 2026.
Today's digest covers SPK approval of the MIA Technology–Lider Sistem statutory merger in Turkey; the $1.54 billion Mapfre–Safety Insurance acquisition in the U.S.; Mobix Labs' $15 million defense-tech acquisition of Vision Aerial; Carrier's completed acquisition of AI building automation company 75F; PowerTransitions' 323 MW New York power plant portfolio acquisition; and updates on Prologis–SEGRO, Union Pacific–Norfolk Southern, and Paramount–Warner Bros. Discovery.
The U.S. Department of State announced statutory debarment of multiple individuals and Quadrant Magnetics, LLC following U.S. criminal convictions involving the Arms Export Control Act. Debarred parties are prohibited from participating directly or indirectly in ITAR-regulated activities. Parties with knowledge of the debarment generally cannot involve a listed person in an ITAR-controlled transaction without prior disclosure and written authorization from DDTC.
The U.S. Department of Commerce preliminarily determined that revoking the countervailing-duty order on phosphate fertilizers from Morocco would likely lead to continued or recurring countervailable subsidies. Commerce identified a 20.04% subsidy rate for OCP S.A. and all other producers and exporters. The determination is preliminary; interested parties may submit case briefs and request a hearing within 30 days of Federal Register publication.
The Maritime Administration released the Final Environmental Impact Statement for the ST LNG Deepwater Port project, approximately 10.4 nautical miles offshore Matagorda, Texas. The proposed terminal would export up to 8.4 million tonnes of LNG annually to both FTA and non-FTA countries. The FEIS supports MARAD's licensing decision but does not itself authorize construction or operation.
Four Turkish Competition Board approvals published July 23, 2026: OYAK/ON Investment acquires 42.80% of Tekfen Holding; Beymen acquires 100% of Disita Giyim; Re-Pie Portföy acquires 100% of Vivense; and OYAK and the Oman Investment Authority establish joint control over Samaş Sanayi Madenleri. All decisions dated June 30, 2026.
Four new U.S. transactions announced July 22–23, 2026: Dassault Systèmes acquires ArisGlobal for approximately $1.8 billion plus up to $200 million in contingent consideration; Matador Resources acquires Paloma Permian for approximately $1.28 billion; IBM acquires HRL Laboratories from Boeing and General Motors; and Nth Cycle announces a SPAC merger with Kensington Capital Acquisition Corp. VI at an approximately $585 million enterprise value. Plus: McCormick–Unilever Foods integration update and EA acquisition EU clearance.
First Financial Bancorp has announced a definitive agreement to acquire Finward Bancorp in an all-stock transaction valued at approximately $208 million, based on the July 20, 2026 closing price of First Financial shares. Under the terms, each Finward share will be exchanged for 1.35 First Financial shares. The transaction expands First Financial's banking network into the Chicago and Northwest Indiana markets.
Gesa Credit Union has announced a definitive agreement to acquire substantially all of the assets and assume substantially all of the liabilities of Willamette Valley Bank from its parent Oregon Bancorp Inc. Post-closing, Willamette Valley Bank and Oregon Bancorp will be liquidated, with remaining value distributed to Oregon Bancorp shareholders at an estimated $43–45 per share. The transaction is expected to close in the first half of 2027.
Germany-based Intersnack Group has announced a definitive agreement to acquire the publicly traded Class A shares of Utz Brands Inc. for $14.25 per share in cash — a premium of approximately 91% to the July 20 closing price — in a transaction valued at approximately $2.9 billion in enterprise value. Post-closing, Utz will be owned 50% by Intersnack and 50% by the founding Rice and Lissette families, and will be delisted from the NYSE.
Katılımevim Tasarruf Finansman A.Ş. has completed the transfer of its entire 70% stake in Bainbridge Gayrimenkul Ticaret A.Ş. — 35% to T6 Gayrimenkul and 35% to Laran Gayrimenkul — effective July 20, 2026. The transaction removes Bainbridge from Katılımevim's consolidation scope and constitutes a portfolio restructuring rather than a simple equity sale.
Repligen Corporation has announced a definitive agreement to acquire BioLife Solutions Inc. for approximately $1.5 billion in enterprise value — $11.25 per share in cash plus 0.1442 Repligen shares per BioLife share, representing a total value of approximately $31 per BioLife share and a 24% premium to the 90-day VWAP ending July 21, 2026. The transaction is expected to close in Q4 2026.
Turkish Airlines Chairman Murat Şeker has announced that the carrier is actively seeking acquisition opportunities in Asia and Latin America, extending its target scope beyond airlines to cargo operators and maintenance, repair, and overhaul (MRO) companies. The announcement signals a strategic shift toward vertical integration across the aviation value chain.
The United States and Jordan signed a new Agreement on Reciprocal Trade on July 21, 2026, supplementing the existing U.S.–Jordan Free Trade Agreement. The agreement addresses tariffs, digital trade, export controls, investment security, and anti-transshipment measures. It is not yet operative — it enters into force 60 days after both governments complete their internal procedures.
The USPTO has proposed requiring every third-party request for ex parte patent reexamination to identify the requester and all other real parties in interest. The identifying statement could remain confidential from the public upon request, but the USPTO would receive the information to evaluate statutory estoppel, false certifications, and fraud. Comments are due August 21, 2026. This is a proposed rule, not a final requirement.
On July 20, 2026, the President signed three proclamations under Section 338 of the Tariff Act of 1930 imposing an additional 50% ad valorem duty on broad categories of Canadian products. The duties take effect August 19, 2026 and apply even to USMCA-originating goods. U.S. importers, Canadian exporters, and Turkish companies with North American supply chains must act immediately.
Turkish companies hiring US employees face a complex and employee-protective legal framework that differs fundamentally from Turkish labor law. From at-will employment and anti-discrimination laws through wage and hour rules, non-compete restrictions, and termination requirements, this guide covers what Turkish employers need to know in 2026.
The FDIC has filed proposed information-collection forms for FDIC-supervised permitted payment stablecoin issuers under its GENIUS Act implementation framework. Scheduled for Federal Register publication on July 20, 2026, the proposal would require large issuers (at least $1 billion outstanding or $100 million average daily transaction volume) to submit detailed weekly reports, while smaller issuers use an abridged form. All covered issuers would submit quarterly call-report-style filings. Stablecoin issuers, sponsoring banks, custodians, exchanges, fintech companies, and institutional counterparties should begin assessing data-readiness now.
The national emergency declared under Executive Order 13936 expired on July 14, 2026. OFAC has removed persons sanctioned solely under that authority from the SDN List, but Hong Kong Human Rights and Democracy Act and Hong Kong Autonomy Act restrictions remain operative. Persons still subject to Hong Kong Autonomy Act restrictions have been moved to OFAC's Non-SDN Menu-Based Sanctions List. Previously blocked property does not automatically unblock. Banks, real estate funds, corporate service providers, and businesses using Hong Kong holding companies must immediately refresh screening databases and conduct transaction-specific OFAC analyses before releasing any blocked assets.
USTR has finalized a Section 301 action against Brazil, imposing an additional 25% tariff on most Brazil-origin goods entered for consumption from 12:01 a.m. Eastern Time on July 22, 2026. The action targets Brazil's digital-trade restrictions, electronic-payment barriers, intellectual-property enforcement gaps, ethanol market access, anti-corruption issues, and illegal-deforestation practices. Importers, exporters, manufacturers, customs brokers, and commodity traders must urgently map HTS classifications, recalculate landed costs, and review open contracts.
The SEC has proposed Regulation E-Delivery, which would make electronic delivery the default method for most information required under federal securities laws—without requiring prior affirmative consent from each recipient. The proposal affects public companies, investment funds, broker-dealers, investment advisers, transfer agents, and transaction counsel. Comments will be due 60 days after Federal Register publication.
Diodes Incorporated (Nasdaq: DIOD) has entered into a definitive agreement to acquire ElevATE Semiconductor, Inc. for a base cash consideration of $250 million, plus up to $50 million in earn-out payments tied to 2027–2030 revenue and gross margin targets, for a total potential deal value of approximately $300 million. ElevATE is a fabless designer of low-power, high-density integrated circuits for automated test equipment (ATE) systems. The seller is a continuation fund managed by Presidio Investors. The transaction is expected to close in H2 2026, subject to HSR clearance.
Strategic Storage Trust VI (SST VI) has entered into a definitive merger agreement to acquire Strategic Storage Growth Trust III (SSGT III) in an all-stock transaction. Both entities are sponsored and managed by the SmartStop platform. The combined portfolio is expected to have a total asset value of approximately $1.2 billion, comprising 37 directly owned self-storage facilities and approximately 29,415 units across the U.S. and Canada. The transaction is expected to close in Q4 2026, subject to SSGT III stockholder approval and SEC registration.
Leica Biosystems, a Danaher Corporation operating company, has signed a definitive agreement to acquire StatLab Medical Products from Linden Capital Partners and Audax Private Equity. The transaction adds pre-analytic and analytic histology consumables and workflow products to Leica's existing portfolio of pathology instruments, digital pathology, and AI-assisted cancer diagnostics. Financial terms were not disclosed. Closing is expected by year-end 2026.
A coalition of twelve state attorneys general led by California filed suit on July 13, 2026 to permanently block the proposed $110 billion merger between Paramount Skydance Corporation and Warner Bros. Discovery. One day later, the Writers Guild of America filed a separate federal lawsuit. Both actions come after the DOJ Antitrust Division closed its review without objection on June 12 — a rare scenario in which a federally cleared mega-deal faces simultaneous multi-front litigation that could delay or derail closing.
Nasdaq-listed NextCure and private biotech Avere Therapeutics announced an all-stock merger structured as a tax-free reorganization under IRC §368(a), accompanied by approximately $320 million in concurrent PIPE financing. Avere shareholders and PIPE investors will hold approximately 98–99% of the combined company; existing NextCure shareholders receive approximately 1–2% plus a CVR tied to 90% of net proceeds from NextCure's legacy oncology assets. The combined company will trade as AVRX and advance AVR-001, a once-weekly oral IL-23 inhibitor licensed from Hansoh Pharmaceutical, through Phase 2b in psoriasis and Phase 2b in ulcerative colitis.
KKR will acquire a 51% controlling interest in Thomson Reuters' Global Print business for $500 million in cash. Thomson Reuters retains a 49% stake, editorial control, and content intellectual property rights. The new joint venture will continue distributing Thomson Reuters content through print publications and the ProView digital platform under a long-term license. Closing is expected in Q4 2026, subject to antitrust clearance and customary conditions.
Delivery Hero SE has confirmed it is in advanced discussions with Uber Technologies regarding a potential public takeover offer for all shareholders. No binding offer or definitive agreement has been announced. If completed, the transaction would give Uber indirect control of Yemeksepeti in Turkey — where Uber already acquired Getir's food delivery and grocery businesses in a deal approved by the Turkish Competition Authority in June 2026 with a $500 million investment commitment.
Ligand Pharmaceuticals (Nasdaq: LGND) completed its acquisition of XOMA Royalty Corporation (Nasdaq: XOMA) on July 14, 2026, for approximately $739 million in equity value. XOMA shareholders received $39 per share in cash plus a non-transferable contingent value right tied to 75% of net proceeds from ongoing litigation. The deal more than doubles Ligand's royalty portfolio to over 200 assets and is expected to be immediately accretive.
EPA has proposed amendments affecting model-year 2027 and later heavy-duty highway engines, covering regulatory useful-life periods, emissions-warranty periods, compliance testing, credit provisions, and SCR/DEF inducement requirements. The proposal also makes nonconformance penalties available to certain medium and heavy-duty engine manufacturers beginning MY 2027. Comments are due August 29, 2026; virtual hearings are scheduled for July 29–30.
FWS and NMFS issued a final rule effective September 14, 2026, rescinding the regulatory definition of 'harm' under the Endangered Species Act. Habitat modification or degradation will no longer, by itself, constitute a prohibited 'take' under ESA Section 9. Real estate developers, infrastructure sponsors, energy projects, and construction companies may face a narrower federal permitting burden — but direct injury to species, critical habitat, federal nexus, and state law obligations remain fully operative.
Commerce/BIS published a final rule effective July 10, 2026, removing the UAE from EAR Country Groups D:3 and D:4 and adding it to Country Group A:5. Strategic Trade Authorization and additional license exceptions are now available for approved UAE entities — but the relief is not blanket authorization. U.S. exporters, Turkish intermediaries, and UAE distributors must update compliance matrices before assuming license-free treatment.
First Bancorp (Nasdaq: FBNC) has entered into a definitive agreement to acquire First Carolina Bancshares Corporation for approximately $166 million in a mixed cash-and-stock transaction, adding $831 million in assets and 14 South Carolina branches. Closing is targeted for Q4 2026 or early Q1 2027, subject to regulatory approvals and shareholder vote.
A Warburg Pincus-led investor group has agreed to acquire a controlling stake in PANTHERx Rare — the largest independent rare disease pharmacy platform in the United States — in a transaction reported to be valued at over $7 billion including debt. Nautic Partners and PANTHERx management will retain significant minority positions. General Atlantic and The Vistria Group are expected to exit.
Turkish investors participating in US capital markets — whether buying public stocks, investing in private placements, or acquiring US companies — face a web of SEC regulations, reporting obligations, and tax rules. This guide covers the essential securities law framework for Turkish investors in 2026.
Two significant U.S. regulatory developments on July 13, 2026: twelve states led by California filed suit to block the ~$110 billion Paramount–Warner Bros. Discovery merger despite prior DOJ approval, materially increasing closing risk; and TransDigm abandoned its $960 million acquisition of Stellant Systems after withdrawing its regulatory filing, with Arlington Capital Partners terminating the purchase agreement.
Istanbul-based Medicana Health Group has signed a transfer agreement to become the new operator of Jüdisches Krankenhaus Berlin — a 384-bed hospital that has been in self-administered insolvency proceedings since December 2025. The deal marks Medicana's first hospital investment in Germany and a direct entry into one of Europe's most tightly regulated healthcare markets.
Ferguson Enterprises will acquire FloWorks — a Houston-based industrial valve and flow control distributor owned by Wynnchurch Capital — for approximately $1.6 billion in cash. The deal expands Ferguson's total addressable market from ~$340 billion to ~$400 billion and deepens its exposure to data centers, semiconductor fabs, and pharmaceutical facilities. Closing is targeted for Q3 2026.
Perfect Corp., the AI and augmented reality beauty-tech SaaS company, is going private in a founder-led transaction at $2.00 per share — a ~48.1% premium over the pre-offer closing price. Founder Alice H. Chang and CyberLink control approximately 81.2% of voting rights, making shareholder approval highly probable. Closing is targeted for Q4 2026.
A follow-up update on the Solstice Advanced Materials / Element Solutions definitive agreement. The cash-and-stock transaction — $10.00 per share plus 0.500 Solstice shares, representing approximately 15% premium to Element Solutions' July 2 closing price — remains on track for a first-half 2027 close. A KAP scan as of July 12, 2026 shows no new Turkish public company disclosures in the merger, demerger, or tender offer categories.
ROKETSAN has acquired ASSAN Group's defense industry assets — including facilities capable of producing Mk-series aircraft bombs, 107mm and 122mm rockets, GPS guidance technologies, 155mm guided howitzer ammunition, and TAYFUN ballistic missile warheads — for $471 million through a TMSF tender. The transaction represents a significant vertical integration move, consolidating warhead, munitions, and energetic materials production under ROKETSAN's existing missile and rocket systems platform.
Bulls Yatırım Holding A.Ş. completed the acquisition of 77.62% of Escar Filo Kiralama Hizmetleri A.Ş. on July 8, 2026, for a total consideration of $141.4 million (TRY 6.633 billion). The transaction is not a standalone majority-stake acquisition — it is the first stage of a two-step restructuring that contemplates a full merger of Escar into Bulls by absorption. Turkish Competition Authority clearance has been obtained; a mandatory tender offer obligation has been triggered; and SPK approval of the merger announcement text and shareholder general assembly approval remain pending.
EQT Infrastructure VII has signed a definitive agreement to acquire Copia Power from Carlyle at a reported valuation of approximately $2.6 billion. Founded by Carlyle in 2021, Copia Power integrates electricity generation, transmission connectivity, and large-scale data center load on a single campus and grid interconnection point. The platform holds 2.6 GW of operational or under-construction generation and storage, over 9 GW of grid-connected data center projects in development, and more than 25 GW of solar and storage pipeline. The transaction — expected to close by end of 2026 — signals that the critical bottleneck in AI data center infrastructure is not computing hardware but reliable power supply and grid interconnection capacity.
RentGrow agreed to pay $2.25 million to resolve FTC allegations that its tenant-screening reports violated the Fair Credit Reporting Act and FTC Act. The FTC alleged that reports contained duplicate criminal or eviction records, failed to disclose all data sources, inadequately handled consumer disputes, and misrepresented whether corrected reports had been communicated to property managers. The proposed order requires improved accuracy procedures and FCRA compliance. The settlement raises compliance standards for the entire tenant-screening industry and creates new due-diligence obligations for landlords, property managers, and multifamily operators.
On July 10, 2026, OFAC designated Iranian financier Ali Ansari, his Saint Kitts and Nevis holding company Smart Global Limited, three Iranian exchange-house networks, their controlling persons, and front companies in Hong Kong and the UAE. Treasury states the network used shell companies, bank accounts, real estate, and commercial investments across Europe and the UAE to benefit Iranian regime figures and the IRGC. The designations create civil, criminal, and secondary-sanctions exposure for U.S. and non-U.S. parties transacting with the network.
The SEC's Office of Municipal Securities updated its municipal-advisor FAQs on July 10, 2026, specifically addressing when participants in public-private partnerships may need municipal-advisor registration, which remote-work locations must be disclosed as offices, and what records must be retained when advising on municipal-securities pricing. The guidance is directly relevant to P3 developers, infrastructure consultants, financial advisors, investment banks, placement agents, and contractors advising state or local authorities on infrastructure financing.
General Fusion Inc. has completed its business combination with Spring Valley Acquisition Corp. III, a Nasdaq-listed SPAC, closing on July 10, 2026. The combined company, General Fusion Group Ltd., will begin trading on Nasdaq under the ticker GFUZ (shares) and GFUZW (warrants) on July 13, 2026, becoming what the company describes as the world's first publicly traded pure-play fusion energy company. The transaction valued the combined entity at approximately $724 million enterprise value at closing, with General Fusion entering the public markets with approximately $150 million in cash.
Perfect Corp. (NYSE: PERF), the AI-powered beauty and fashion technology company, has agreed to be taken private by ProjectNY — an acquisition vehicle controlled by founder and Chairman Alice H. Chang — at $2.00 per share in cash. The offer represents a premium of approximately 48.1% over the closing price on March 17, 2026, the last trading day before the initial non-binding proposal. The transaction is expected to close in Q4 2026, subject to shareholder approval and customary closing conditions.
Apollo Global Management has submitted a £5.7 billion (approximately $7.6–7.7 billion) takeover proposal for easyJet plc at 715 pence per share in cash — surpassing a rival 690 pence offer from Castlelake. easyJet's board has indicated it is minded to recommend Apollo's proposal to shareholders. Apollo must make a binding offer or withdraw by August 7, 2026 under UK Takeover Code rules. The transaction would represent one of the largest private equity acquisitions of a European low-cost carrier.
Solstice Advanced Materials has announced a definitive agreement to acquire Element Solutions Inc. for approximately $14.5 billion in enterprise value — a mixed cash-and-stock transaction offering Element shareholders $10.00 per share in cash plus 0.5 shares of Solstice. The deal creates a specialty chemicals and advanced materials platform with approximately $29 billion in combined enterprise value and $6.8 billion in annual sales, targeting AI infrastructure, semiconductor manufacturing, and data center thermal management markets.
Sky, a subsidiary of U.S.-based Comcast Corporation, has announced a definitive agreement to acquire ITV's media and entertainment division — including ITV channels and the ITVX streaming platform — for up to £1.6 billion (approximately $2.1 billion). ITV Studios will remain independent. The transaction reflects the accelerating consolidation of traditional broadcasters facing structural pressure from global streaming platforms.
Vertex Pharmaceuticals Inc. has announced a definitive agreement to acquire Crinetics Pharmaceuticals Inc. for approximately $10 billion in an all-cash transaction — $85 per share, representing a premium of approximately 102% to Crinetics' closing price. The deal brings Vertex a commercial-stage rare endocrine disease franchise anchored by FDA-approved Palsonify and a late-stage pipeline asset in congenital adrenal hyperplasia, with combined peak annual sales potential projected above $5 billion.
CFPB issued a request for information on possible regulatory changes to promote access to mortgage credit. The request covers changes to TRID/TILA-RESPA integrated disclosures, right-of-rescission rules, reverse-mortgage disclosures, ATR/QM standards, portfolio-loan treatment, and closing-disclosure timing. Comments are due 30 days after Federal Register publication.
DOE issued a draft National Transmission Needs Study and requested public comment; the study may inform future National Interest Electric Transmission Corridor designations and other federal transmission authorities or funding decisions. Separately, GSA issued a notice of intent to prepare an Environmental Impact Statement for modernization and expansion of the Nogales DeConcini Land Port of Entry in Arizona.
The ITC determined that U.S. industry is materially injured by polypropylene corrugated boxes from Vietnam sold at less than fair value, clearing the way for antidumping-duty consequences on covered imports. Separately, Commerce initiated multiple AD/CVD administrative reviews, including reviews involving large diameter welded pipe from Turkey and other product categories.
Treasury and IRS finalized rules identifying certain charitable remainder annuity trust structures as listed transactions, triggering disclosure obligations for certain participants and material advisors. IRS also finalized rules on transfer-for-value and information-reporting requirements for reportable policy sales, section 1035 exchanges, and certain life-insurance contract acquisitions in corporate reorganizations.
Treasury issued a call for Large Position Reports from entities whose positions in the Treasury Floating Rate Note due January 2026, CUSIP 91282CJU6, equaled or exceeded $8.4 billion on January 23 or January 30, 2026. Reports are due by 12:00 p.m. ET on July 13, 2026.
The Federal Reserve issued a proposed rule requiring Board-supervised banks to establish and maintain effective, risk-based AML/CFT programs. The proposal requires documented risk assessments, incorporation of AML/CFT priorities, ongoing customer due diligence, independent testing, employee training, and designation of a responsible AML/CFT officer accessible to U.S. oversight. Comments are due 60 days after Federal Register publication.
DOJ announced a proposed settlement with Willow Bridge Property Company as part of its enforcement action against alleged anticompetitive conduct in rental housing markets. DOJ alleged that landlords used competitors' sensitive information through pricing algorithms and exchanged competitively sensitive rent-setting information. The proposed decree restricts use of certain algorithmic pricing tools, competitor-data sharing, and RealPage-hosted competitor meetings.
The Department of Energy withdrew its direct final rule titled 'Zero-Based Regulating' after receiving adverse comments. The withdrawn rule would have inserted conditional sunset dates into numerous DOE regulations, with covered rules expiring unless affirmatively extended. DOE stated it will address comments through the parallel proposed-rule process. Existing compliance obligations remain in force.
The FTC and several states announced a proposed settlement with Deere & Company. Under the proposed order, Deere would be required for 10 years to provide farmers and independent repair providers access equivalent to what authorized dealers receive — including diagnostic codes, reprogramming tools, technical manuals, and certain equipment restart functions. The order will have legal force once approved by the district court.
Analog Devices, Inc. (ADI) closed its acquisition of Empower Semiconductor on July 7, 2026 for $1.5 billion in cash. Empower's integrated voltage regulator and silicon capacitor technologies enable power conversion closer to the processor, targeting improved energy efficiency in high-density AI systems. The transaction concretely demonstrates that power density and energy efficiency in AI data centers have become central to semiconductor M&A valuations.
ROKETSAN has acquired Assan Group's defense industry assets for $471 million through a tender process administered by Turkey's Savings Deposit Insurance Fund (TMSF). ROKETSAN will operate the acquired facilities through a new wholly-owned subsidiary. Planned production includes Mk-series aircraft bombs, 107mm and 122mm rockets, GPS guidance technologies, 155mm guided howitzer ammunition, and TAYFUN ballistic missile warheads. The transaction illustrates the consolidation of strategic manufacturing capacity under Turkey's defense industrial structure.
Blackstone and TPG are reportedly working with advisors to explore a sale of Hologic's surgical unit — the gynecological equipment business — at a target valuation above $4 billion. The process follows the April 2026 take-private of Hologic and illustrates a pattern increasingly common in large PE transactions: rapid post-closing portfolio segmentation to accelerate debt reduction and investor returns.
Arbex began independent operations on July 1, 2026, marking the completion of the $3.4 billion joint venture between Kimberly-Clark and Suzano. Suzano holds 51 percent and Kimberly-Clark 49 percent of the new company, which operates across more than 70 markets with 22 manufacturing facilities in 14 countries and long-term licenses for brands including Kleenex, Scott, Cottonelle, Andrex, WypAll, and Viva. The transaction is a model global carve-out combining asset transfer, brand licensing, and joint venture governance.
A consortium led by B Capital Group, with CalPERS as a key participant, has agreed to acquire Russell Investments — a global investment solutions firm with approximately $416 billion in AUM serving clients in 31 countries — from private equity sellers TA Associates and Reverence Capital Partners. The transaction, reported at approximately $2.8 billion, is expected to close in the first quarter of 2027, subject to regulatory approvals and customary closing conditions including client, fund, and third-party consents.
Prologis has pressed its unsolicited all-share takeover approach for SEGRO plc — valuing the UK-listed industrial REIT at approximately £12.6 billion ($16.9 billion) — after SEGRO's board rejected the proposal as inadequate and opportunistic. Under UK Takeover Panel rules, Prologis must make a firm offer or walk away by July 22, 2026. The transaction illustrates the accelerating convergence of logistics warehousing, urban last-mile distribution, and data center-adjacent real estate as a single strategic asset class.
MARA Holdings has signed a definitive agreement to acquire a 1,200-plus-acre grid-connected site in Matagorda County, Texas from HIF USA — targeting 1 GW of power capacity by October 2027 and 2 GW by April 2028. The transaction illustrates a structural shift in digital infrastructure M&A: the scarcest asset is no longer land, but scalable, permitted, grid-connected power.
Lupa Systems completed its acquisition of New York Magazine, Vox, and Vox Media Podcast Network from Vox Media on July 8, 2026. The acquired assets — including New York Magazine's verticals (Intelligencer, The Cut, Vulture), Vox's subscription and YouTube operations, and the Vox Media Podcast Network — will operate as a new subsidiary under the Vox Media name with Jim Bankoff as CEO. The transaction illustrates how media M&A valuation has shifted from traffic and advertising revenue to brand strength, loyal subscription audiences, and premium podcast IP.
ResMed is selling its MatrixCare software business to Frazier Healthcare Partners for $490 million in cash. MatrixCare serves more than 15,000 healthcare providers across skilled nursing, senior living, home health, and hospice. The transaction is a healthcare IT carve-out with significant implications for patient data privacy, HIPAA compliance, transition services, customer contract assignment, and PE-backed healthcare software consolidation.
Altun Gıda and GMS Yatırım Holding acquired shares representing 74.85% of Seğmen Kardeşler Gıda's capital for approximately $82.5 million, reaching a combined 71.056% voting interest and triggering a change of control. Following Turkish Competition Authority approval, the acquirers filed a mandatory tender offer with the CMB at TRY 38.90 per Class B share. The transaction illustrates the legal architecture of control transfers in Turkish public companies.
The Department of Energy issued a draft National Transmission Needs Study and opened a 60-day public comment period. The study identifies electric transmission constraints and may inform future National Interest Electric Transmission Corridor designations and federal transmission authorities. Energy developers, utilities, infrastructure investors, and project-finance counsel should monitor potential corridor designations, permitting implications, and grid-interconnection strategy.
GSA issued a notice of intent to prepare an Environmental Impact Statement for modernization and expansion of the Nogales DeConcini Land Port of Entry in Arizona. The project may substantially expand the port footprint, replace existing buildings, add vehicle and pedestrian lanes, and affect surrounding commercial and residential properties, traffic, utilities, and cultural resources. Border-trade operators, logistics companies, contractors, and real estate owners near Nogales should track scoping, acquisition, and procurement developments.
Treasury and IRS finalized rules identifying certain charitable remainder annuity trust structures as listed transactions, triggering disclosure obligations for participants and material advisors. IRS also finalized rules on transfer-for-value and information-reporting requirements for reportable policy sales, section 1035 exchanges, and life-insurance acquisitions in corporate reorganizations. Tax counsel, estate planners, and M&A advisors should update due diligence checklists and disclosure procedures.
The ITC determined that U.S. industry is materially injured by polypropylene corrugated boxes from Vietnam sold at less than fair value, clearing the way for antidumping duties. Separately, Commerce initiated AD/CVD administrative reviews covering large diameter welded pipe from Türkiye and other categories. Importers, exporters, and supply chain participants should review HTSUS classification, cash-deposit exposure, and administrative-review deadlines.
DOJ announced a proposed settlement with Willow Bridge Property Company targeting alleged anticompetitive use of algorithmic rent-setting tools and competitor data sharing. The proposed decree restricts use of certain pricing algorithms, competitor-data exchanges, and RealPage-hosted competitor meetings. Property managers, leasing software vendors, and real estate platforms should review rent-setting tools, benchmarking arrangements, and antitrust compliance programs.
The Federal Reserve issued a proposed rule requiring Board-supervised banks to establish risk-based AML/CFT programs with documented risk assessments, customer due diligence, independent testing, and a designated compliance officer. Comments are due 60 days after Federal Register publication. The proposal has direct implications for banking relationships, onboarding files, and cross-border clients.
India-based AirLife Gases has signed a definitive agreement to acquire a controlling stake in GNG, owner of the Lisbon Valley Gas Processing Complex in Utah — a helium processing, liquefaction, and pipeline infrastructure asset. The transaction positions AirLife as a vertically integrated helium platform spanning upstream production through global distribution at a moment of acute strategic focus on critical mineral supply chains.
Diana Shipping has issued a final call to Genco Shipping shareholders with an increased offer of $27.34 per share — $24.80 cash plus one Diana share — backed by $1.412 billion in committed financing. The transaction is a textbook unsolicited tender offer: Diana already holds over 14% of Genco, the Genco board has been resistant, and the deal mechanics involve shareholder rights plans, Schedule TO filings, Form F-4 registration, and the full apparatus of hostile public company M&A.
Kikoff has acquired the technology infrastructure, customer relationships, and key assets of The Service Bureau (TSB), a credit reporting and data furnishing platform serving over 1,000 businesses. The transaction expands Kikoff's institutional credit infrastructure business and brings TSB's team into the Kikoff organization.
York Space Systems has completed its acquisition of ALL.SPACE for approximately $300 million — $155 million in cash plus 5.9 million York shares — bringing jam-resistant, multi-orbit terminal technology into a vertically integrated defense space platform spanning satellite manufacturing, mission operations, and tactical communications.
ROKETSAN has acquired ASSAN Group's commercial and economic entirety through a TMSF (Savings Deposit Insurance Fund) tender for $471 million — the sole bidder at an estimated value of $416.5 million. The transaction is structurally distinct from private-sector M&A: it is a state-administered asset sale of a defense industry entity previously placed under TMSF management in connection with a military espionage investigation.
MasTec's $1.65 billion acquisition of The Superior Group — combining approximately $1.175 billion in cash with $475 million in MasTec stock and a performance-based earn-out — positions MasTec as a full-stack provider across data center electrical systems, grid interconnection, and critical facility construction at a moment of unprecedented AI-driven infrastructure investment.
Dream Finders Homes has raised its unsolicited bid for Beazer Homes to $32 per share in cash — implying approximately $875 million in equity value and a roughly 70% premium to Beazer's unaffected share price — after Beazer's board declined to engage without a 12-month standstill. The campaign illustrates the tactical and fiduciary dynamics of quasi-hostile public-to-public acquisition pressure.
Yara International's $1.3 billion acquisition of Gulf Coast Ammonia's Texas City facility — with 1.3 million metric tons of nameplate capacity and a long-term Air Products supply agreement — illustrates how strategic physical assets in ammonia and fertilizer supply chains retain their value despite energy transition pressures.
Oregon's Attorney General will seek a 60-day standstill on the approximately $110 billion Paramount–Warner Bros. Discovery deal, signaling that state-level antitrust enforcement remains a live closing risk even after federal DOJ clearance.
Enerpac Tool Group Corp. has agreed to acquire Specialized Fabrication Equipment Group LLC (SFE Group) for approximately $472 million in cash from SFEG Holdings, Inc. and Gladstone Investment Corporation. SFE Group is a 12-brand platform serving critical sectors including aerospace and defense, biopharma, oil and gas, energy, semiconductors, maritime, mining, data centers, and hospitals. The transaction expands Enerpac's addressable market by approximately $1 billion and advances its pure-play industrial tools and solutions strategy.
I Squared Capital has agreed to acquire Milestone Environmental Services from SK Capital Partners in an undisclosed transaction. Milestone operates 15 fully permitted disposal facilities across the Permian Basin, Eagle Ford, and Haynesville shale plays, managing approximately one billion gallons of oil and gas production waste annually. The transaction illustrates the convergence of U.S. energy production, environmental compliance, and industrial reshoring themes driving infrastructure M&A in 2026.
MasTec Inc. has agreed to acquire Electrical Specialists Inc. d/b/a The Superior Group for approximately $1.65 billion in a cash-and-stock transaction. The deal consolidates Superior's electrical systems, preconstruction, engineering, integrated systems, modular manufacturing, and maintenance capabilities into MasTec's energy, construction, and communications infrastructure portfolio — positioning the combined company as a scaled platform for the AI-driven data center build-out wave sweeping the United States.
The Bureau of Ocean Energy Management has issued the final notice for Gulf of America Outer Continental Shelf Oil and Gas Lease Sale 3. Bids are due by 10:00 a.m. Central Time on August 11, 2026, with bid opening on August 12, 2026. The sale is mandated under the One Big Beautiful Bill Act and uses lease terms tied to prior Lease Sale 254. The announcement is material for offshore energy developers, service companies, lenders, insurers, and foreign investors evaluating U.S. energy assets.
Following a Supreme Court ruling that tariffs imposed under IEEPA and collected since February 3, 2025 were unlawful, CBP has issued a notice for a new Court-Ordered Refunds under IEEPA Worksheet and automated processing through ACE/CAPE. The refund process covers an estimated $166 billion across more than 53 million entry summaries. U.S. importers, customs brokers, and companies that passed tariffs through to customers must act immediately to preserve their refund rights.
CVC Capital Partners has agreed to sell D-Marin, the EMEA-scale premium marina platform with origins in Turkey's Doğuş Group, to InfraVia Capital Partners at a reported valuation of €1 billion to €1.5 billion. D-Marin operates 28 premium marinas across 9 countries, with over 14,300 berths, 50,000+ annual customers, and 12 professional boatyards. The transaction — expected to close in 2026 subject to customary approvals — illustrates the maturation of marina infrastructure as a scalable institutional asset class distinct from traditional tourism real estate.
Equifax Inc. has announced a definitive agreement to acquire Círculo de Crédito, Mexico's second-largest credit bureau, for a purchase price of $825 million — representing an enterprise value of approximately $750 million after estimated closing cash of $75 million. The transaction gives Equifax direct, scaled access to Mexico's credit data infrastructure: 2 billion tradelines, 80 million verified identity records, and over 1,700 clients across banking, fintech, retail, microfinance, and telecom.
The Federal Trade Commission has issued warning letters to seven companies whose products appeared to be marketed as Made in USA or Made in Texas despite indications that they were imported in whole or significant part. Products at issue include drums, industrial laser machinery, coordinate measuring machines, and e-cigarettes. The FTC action signals heightened enforcement of its Made in USA standard — a strict, unqualified standard that requires all or virtually all of a product to be made in the U.S. Importers, private-label sellers, manufacturers, and cross-border distributors should audit their origin claims immediately.
Hometown Financial Group, Inc. has announced a definitive agreement to acquire Primary Bank in an approximately $160 million cash-and-stock transaction. The deal combines Primary Bank's $743 million in assets and four New Hampshire branches with Hometown's TruNorth Bank network — and runs concurrently with Hometown's conversion from a mutual holding company to a stock holding company, making this a rare dual-track bank merger and capital structure transformation.
A Share Purchase Agreement was signed on July 6, 2026 for the transfer of 77.21% of Kartonsan Karton Sanayi ve Ticaret A.Ş. — one of Turkey's leading coated board manufacturers — from Pak Holding A.Ş., Asil Holding A.Ş., and Pak Gıda Üretim ve Pazarlama A.Ş. to Hasan Peker and Aydın Veli Serin for $72 million. The transaction triggers a mandatory tender offer obligation under CMB regulations and raises competition law notification questions under Turkey's updated merger control thresholds.
Lone Star Funds is acquiring Continental AG's ContiTech industrial materials division for €4 billion — a landmark carve-out with direct implications for Turkish companies in construction, mining, energy, and industrial supply chains.
The Office of Federal Procurement Policy has issued a final rule that fundamentally restructures the Cost Accounting Standards applicable to U.S. federal contractors. The rule rescinds CAS 408 and CAS 411 entirely, rescinds most of CAS 404 and CAS 409, and transfers only certain retained provisions into the remaining CAS framework. Scheduled for Federal Register publication on July 8, 2026 and effective 30 days after publication, the rule reduces CAS/GAAP reconciliation burdens — but transition treatment and retained provisions require careful compliance review.
Ondas Inc. has acquired DZYNE Technologies, LLC for approximately $875.8 million in a cash-and-stock transaction, consolidating autonomous ISR aircraft, counter-UAS systems, autonomous effectors, and tactical logistics platforms under a new Ondas Sentinel defense technology unit. The deal illustrates accelerating consolidation in U.S. autonomous defense systems and raises critical post-closing considerations: ITAR/export controls, CFIUS national security sensitivities, government contract change-of-control provisions, security clearances, and Nasdaq inducement grant requirements.
The Pipeline and Hazardous Materials Safety Administration has issued a Notice of Proposed Rulemaking to modernize anomaly response and repair criteria for gas transmission and hazardous liquid pipelines. The NPRM would revise response schedules, anomaly evaluation requirements, material property records, and repair and remediation obligations. Comments are due 60 days after Federal Register publication. Energy companies, pipeline operators, EPC contractors, and infrastructure investors should assess impacts on integrity management programs, project contracts, and operational covenants.
The Surface Transportation Board has accepted Union Pacific and Norfolk Southern's revised merger application for review but held the proceeding in abeyance, requesting additional information on competition, public interest, service continuity, terminal railroads, and downstream merger effects. The parties have signaled readiness to divest interests in jointly-owned structures — including Terminal Railroad Association of St. Louis, Kansas City Terminal Railway, and TTX Company — to address competitive concerns. The $85 billion transaction, if approved, would create the first coast-to-coast freight railroad in the United States. The additional information deadline is July 27, 2026.
US corporate governance standards continue to evolve in 2026, with new SEC disclosure requirements, updated Delaware case law on fiduciary duties, and heightened expectations around board composition and oversight. Turkish companies with US subsidiaries or US-listed securities must stay current.
Vertex Pharmaceuticals has announced a definitive agreement to acquire Crinetics Pharmaceuticals for approximately $10 billion in equity value — $85 per share in cash, representing a premium of approximately 102% to Crinetics' prior closing price. The transaction brings Vertex an FDA-approved oral acromegaly treatment (PALSONIFY) and a Phase 3 CAH candidate (atumelnant), with combined peak revenue potential the company estimates at over $5 billion annually. Closing is expected in Q3 2026, subject to regulatory approvals and Crinetics shareholder approval.
Two concurrent ownership transfer processes are reshaping the shareholder structure of Tekfen Holding A.Ş., one of Turkey's leading publicly traded engineering-contracting and industrial groups. ARY Holding has signed a definitive share transfer agreement to convey its combined 32.08% direct and indirect stake to Libco İnşaat, while Can Kültür — holding 42.8% of Tekfen — has announced it has entered into sale and transfer negotiations with OYAK. If both processes close, Tekfen could become the site of one of Turkey's most significant domestic M&A transactions of 2026.
CoreCivic, Inc. has completed the sale of the California City Detention Facility and the Otay Mesa Detention Center to the U.S. Department of Homeland Security for a combined $1.5 billion — one of the largest government real estate transactions in the U.S. detention infrastructure sector. The transaction closed July 2, 2026, with CoreCivic retaining management contracts to continue operating both facilities under existing ICE agreements.
Altaris LLC has entered into a definitive agreement to acquire Clarivate's Life Sciences & Healthcare business — comprising the Cortellis and Decision Resources Group platforms — for $600 million in a structured carve-out transaction. The deal separates an AI-enabled life sciences intelligence platform serving approximately 2,500 customers, including all top 20 global pharmaceutical companies.
Lockheed Martin has entered into a definitive agreement to acquire Ultra Maritime, a leading developer of anti-submarine warfare systems, sonar, sonobuoys, and autonomous undersea sensing platforms, for $3.45 billion from Advent-affiliated Cobham Ultra. The transaction deepens Lockheed's Rotary and Mission Systems segment in undersea warfare and autonomous maritime defense.
Solstice Advanced Materials has entered into a definitive agreement to acquire Element Solutions in a cash-and-stock transaction valued at approximately $14.5 billion including net debt. The combination creates a scaled advanced materials and specialty chemicals platform spanning semiconductor manufacturing, advanced packaging, AI data center cooling, and thermal management.
Versant Media Group has entered into a definitive agreement to acquire Full Swing, the PGA TOUR-licensed golf and baseball simulator manufacturer, for approximately $530 million in cash. The transaction transforms Versant from a pure-play media company into a media-plus-sports-technology-plus-data platform, integrating Full Swing's simulation hardware and performance data capabilities with Golf Channel, GolfNow, and GolfPass.
The DOJ and FTC's Hart-Scott-Rodino Annual Report for fiscal year 2025 documents premerger notification filings, Second Request issuances, and enforcement actions under the HSR Act. The report reflects continued elevated merger scrutiny, increased Second Request rates in technology and healthcare sectors, and a sustained focus on vertical and conglomerate theories of harm. For Turkish companies and investors pursuing U.S. acquisitions or joint ventures, the 2025 HSR data provides critical benchmarks for transaction planning, timeline estimation, and antitrust risk assessment.
The USDA has initiated rulemaking under the Agricultural Foreign Investment Disclosure Act (AFIDA) to strengthen reporting requirements for foreign persons acquiring interests in U.S. agricultural land. Proposed changes include expanded definitions of reportable interests, shorter filing deadlines, and significantly higher civil penalties for non-compliance. Turkish investors and companies with U.S. agricultural land holdings must review their disclosure obligations now.
U.S.-based investment firm Castlelake has raised its bid for easyJet plc to approximately £5.23 billion (USD 6.94 billion), with easyJet's board indicating it has reached agreement in principle on the revised offer. The transaction highlights the structural complexity of U.S. private capital acquiring a European airline under EU ownership and control rules, and raises significant questions around airport slot rights, aircraft financing, and regulatory clearance timelines.
DHS/USCIS published a proposed rule on July 2, 2026 to implement the EB-5 Reform and Integrity Act of 2022. The rule strengthens fraud controls, national security screening, and investor protections. Foreign investors, developers, regional centers, and EB-5-funded projects must review their documents and compliance programs before the August 31 comment deadline.
The Federal Trade Commission has emerged as the primary U.S. federal agency shaping the regulatory framework for artificial intelligence, acting through its dual mandate of competition enforcement and consumer protection. FTC AI policy in 2026 encompasses algorithmic bias, AI-generated deception, data practices underlying AI systems, and the competitive dynamics of foundation model markets. For Turkish technology companies, investors, and businesses deploying AI in U.S. markets, understanding the FTC's evolving AI enforcement posture is essential.
KKR has agreed to acquire EDF Power Solutions' U.S. and Canadian operations from EDF Group for approximately $4.2 billion, with up to $390 million in additional performance-based earnout payments. The target platform operates 5.6 GW of net renewable energy capacity across the U.S. and Canada and has developed a 26 GW pipeline of wind, solar, and battery storage projects. The transaction is a platform acquisition — not a single-asset sale — and illustrates how surging U.S. electricity demand from data centers, AI infrastructure, industrial reshoring, and electrification is driving energy infrastructure M&A.
Morocco controls approximately 70% of the world's known phosphate reserves and, through OCP Group, is the dominant global exporter of phosphate rock and processed fertilizers. As the USTR expands its Section 301 investigative framework and U.S. agricultural supply chain resilience becomes a legislative priority, the trade policy treatment of Moroccan phosphate imports carries significant implications for U.S. farmers, fertilizer distributors, and international investors with exposure to agricultural inputs.
NYC HPD proposed amendments allowing certain 421-a(16) rental projects to amend approved Workbooks in limited circumstances — potentially aligning stalled projects with the June 15, 2031 extended completion deadline instead of June 15, 2026. Developers, lenders, and purchasers of multifamily projects must act before the August 4 hearing and comment deadline.
New York City has enacted a local law requiring commercial storefronts to use see-through roll-down gates or grilles rather than solid metal security gates. The law applies to new installations and replacements citywide, with phased compliance deadlines for existing solid gates. Turkish-owned businesses, retail tenants, and commercial landlords with NYC storefronts must assess their compliance obligations and review lease provisions allocating responsibility for storefront security installations.
Brazil has emerged as a focus of U.S. Section 301 trade policy scrutiny, with the USTR examining Brazilian digital services tax proposals, intellectual property enforcement gaps, and market access barriers in key sectors. For Turkish investors and businesses with exposure to Brazilian markets or U.S.-Brazil trade flows, understanding the Section 301 framework and its potential consequences is essential for supply chain and investment risk assessment.
USTR has determined that 60 economies — including Türkiye — failed to enforce forced-labor import prohibitions and proposed additional duties of 10–12.5%. Written comments were due July 6; hearings are July 7. Turkish exporters to the U.S. and companies with Türkiye-linked supply chains must act immediately on due diligence, supplier warranties, origin documentation, and contract terms.
Securitize Corp. completed its SPAC business combination with Cantor Equity Partners II on July 1, 2026, listing on NYSE as 'SECZ' at a $1.25 billion valuation. The deal sits at the intersection of SPAC mechanics, regulated fintech infrastructure, and tokenized equity — with direct implications for Turkish fintech and capital markets companies planning U.S. listings.
Welsh, Carson, Anderson & Stowe led a consortium — including company founders — to acquire Select Medical Holdings for ~$3.9 billion. The July 1, 2026 closing is a landmark management-led take-private in U.S. healthcare infrastructure, with key lessons for Turkish companies pursuing U.S. acquisitions.
USTR announced that the United States will not automatically renew USMCA in its current form. The agreement remains in force, but renegotiation is underway on trade deficits, automotive rules of origin, agriculture, energy, and cross-border services. Turkish companies with North American supply chains, manufacturing, or distribution must review contracts and plan for material changes to tariff rates and market access conditions.
Digital Realty Trust has agreed to acquire Blackstone's Northern Virginia data center portfolio at a gross asset value of $7.8 billion, in one of the largest data center transactions in history. The deal gives Digital Realty dominant scale in the world's largest data center market and reflects the extraordinary capital flows into AI-driven compute infrastructure.
Norwegian fertilizer giant Yara International has completed the acquisition of the Gulf Coast Ammonia (GCA) production facility in Texas City, Texas for $1.3 billion. The transaction gives Yara control of one of the largest ammonia production complexes in the United States and positions the company to capitalize on surging demand for low-carbon ammonia as a hydrogen carrier and clean fuel.
KKR & Co. has agreed to acquire EDF Renewables' U.S. and Canadian wind, solar, and battery storage portfolio from Électricité de France for $4.2 billion. The transaction is one of the largest renewable energy asset sales in North American history and reflects both EDF's strategic pivot toward its French nuclear core and KKR's accelerating deployment of infrastructure capital into the energy transition.
Advanced Industrial Partners (AIP) has completed its acquisition of Avanos Medical, a NYSE-listed medical device company, for $1.272 billion following clearance from U.S. antitrust regulators and foreign investment review authorities. The transaction illustrates the evolving regulatory landscape for healthcare M&A and the strategic logic of taking specialized medtech companies private.
Six critical compliance deadlines between July and October 2026 that every Turkish company and investor operating in the U.S. must act on — with penalties reaching $591/day.
A forward-looking summary of the most significant U.S. legal and regulatory developments expected in the second half of 2026 — from pending legislation and regulatory rulemakings to scheduled court decisions and compliance deadlines that international businesses should track.
U.S. courts issued several significant decisions in 2025-2026 with direct implications for foreign companies doing business in the United States. This case law review examines the most important rulings on personal jurisdiction, contract enforcement, arbitration, and foreign sovereign immunity.
The U.S. corporate compliance landscape is shifting rapidly. From beneficial ownership reporting under the Corporate Transparency Act to ESG disclosure requirements and AI governance frameworks, international businesses face a growing compliance burden that requires proactive management.
New York commercial real estate offers compelling investment opportunities — but the legal due diligence process is complex, time-sensitive, and unforgiving of mistakes. This checklist guides foreign investors through every critical legal review required before committing capital.
New York law governs more international commercial contracts than any other legal system in the world. Understanding how New York courts interpret and enforce commercial agreements is essential for any company doing business in or with the United States.
How a cross-border transaction is structured determines its tax efficiency, liability exposure, regulatory compliance burden, and exit flexibility. For Turkish companies and investors entering the U.S. market, the structural decision is one of the most consequential choices they will make.
OFAC sanctions enforcement has reached record levels. For Turkish companies engaged in commodity trading, energy transactions, and cross-border commerce, understanding sanctions exposure — and building robust compliance programs — is no longer optional.
The Agricultural Foreign Investment Disclosure Act has been significantly expanded. Foreign investors acquiring agricultural land, rural real estate, or interests near sensitive infrastructure now face stricter reporting obligations, shorter deadlines, and substantially higher penalties for non-compliance.
The Federal Acquisition Regulation is undergoing its most significant restructuring in decades. For Turkish companies supplying goods or services to U.S. government contractors, the changes carry immediate compliance obligations and new commercial opportunities.
Welcome to the inaugural issue of ULF Legal Insights — the official journal of ULF NEW YORK This first issue examines the most consequential legal developments shaping U.S. market entry, cross-border investment, and international business in 2026.
From entity selection to regulatory compliance, here is what Turkish companies need to know before establishing a presence in the United States.
House Speaker sends landmark housing legislation to the White House. The 21st Century Road to Housing Act could reshape the U.S. real estate market — and open new doors for Turkish investors.
From sweeping corporate transparency rules to new immigration pathways and tax reforms, the U.S. legal landscape has shifted significantly. Here is what every Turkish business operating in America needs to understand.
Congress passed a sweeping federal housing package aimed at expanding U.S. housing supply and reducing costs — but President Trump cancelled the signing ceremony on June 24, 2026. Here is what the legislation contains and why its status matters for Turkish investors.
New York's new legislation requires residential listings to be publicly marketed before any private sale — fundamentally changing how brokers, sellers, and investors operate in the state's real estate market.
New York City's new pied-à-terre tax imposes an annual surcharge on high-value residential properties that are not the owner's primary residence. Turkish and international investors with NYC condos, co-ops, or luxury apartments face a new recurring cost that must be factored into investment returns.
Turkey's E-2 treaty status and the EB-5 immigrant investor program offer two distinct pathways for Turkish nationals to live and work in the United States through investment. This guide compares both visas, capital requirements, processing timelines, and the legal structures that maximize approval odds.
Turkish business leaders, senior executives, and individuals with extraordinary ability have two powerful nonimmigrant visa options for working in the United States: the O-1 and the L-1. This guide explains the eligibility criteria, petition process, and strategic considerations for each.
Joint ventures between Turkish and US companies are a powerful market entry and growth strategy — but they require careful legal and tax structuring. The choice of entity, governance framework, profit-sharing mechanics, and exit provisions can make or break a Turkish-US joint venture.
Turkey and the United States maintain one of NATO's most complex bilateral defense relationships — deep industrial cooperation coexisting with the F-35 exclusion, S-400 tensions, and competing export control frameworks. This analysis covers the current state of Turkey–U.S. defense trade and investment in 2026.
The Foreign Investment in Real Property Tax Act (FIRPTA) imposes a mandatory withholding obligation on the sale of U.S. real property by foreign persons — including Turkish nationals and Turkish-owned entities. Understanding FIRPTA's mechanics, available exemptions, and withholding reduction procedures is essential for any Turkish investor in U.S. real estate.
U.S. real estate remains one of the most sought-after asset classes for Turkish high-net-worth individuals and family offices. This guide covers the legal structures, financing options, tax considerations, and market entry strategies that define a successful U.S. real estate investment for Turkish nationals.
The EB-5 Immigrant Investor Program offers Turkish nationals two pathways to a U.S. green card through investment: the Regional Center model and Direct Investment. Each has distinct capital requirements, job creation rules, management obligations, and risk profiles. This guide provides a structured comparison to help Turkish investors make an informed choice.
Entering the U.S. market involves navigating a complex legal landscape — from entity selection and regulatory compliance to employment law, IP protection, and commercial contracting.
Technology transfer and licensing between Turkish and US companies involves a complex intersection of intellectual property law, export controls, tax treaty provisions, and contract law. This guide covers the essential legal framework for Turkish companies licensing US technology or transferring Turkish technology to the US market.
Turkish entrepreneurs and companies looking to establish a U.S. presence face consequential structural decisions. This guide covers entity types, state selection, compliance, and practical formation steps.
Q2 2026 brings a critical cluster of regulatory deadlines for Turkish companies and individuals with US operations. From April 15 tax filings through June 30 H-1B petition deadlines, this calendar ensures Turkish businesses don't miss key compliance dates.
The bilateral trade relationship between TURKEY and the United States has grown substantially, evolving into a multidimensional economic partnership exceeding $31 billion in 2025.
The US-Turkey Income Tax Treaty provides important protections against double taxation for Turkish individuals and businesses with US income and for US persons with Turkish income. Understanding how to claim treaty benefits — and the treaty's limitations — is essential for effective tax planning.
Turkish investors must navigate a distinct legal framework governing property acquisition, financing, title, taxation, and asset management. This overview covers due diligence, FIRPTA, estate tax, and exit planning.
The H-1B lottery is not the only path to US work authorization for Turkish professionals. This guide covers the full spectrum of US immigration options available to Turkish executives, entrepreneurs, investors, and specialized professionals — many of which offer faster timelines and greater certainty than H-1B.
For Turkish companies exporting to the United States or establishing distribution relationships with U.S. partners, the commercial contract is the foundation of the business relationship.
Turkish startup founders raising US venture capital face a distinct set of legal and structural requirements. From Delaware C-Corp formation through SAFE notes, term sheets, and Series A mechanics, this guide covers the essential legal framework for Turkish founders navigating the US VC ecosystem in 2026.
Opening a US bank account is one of the first practical challenges Turkish companies face when establishing a US presence. Heightened KYC/AML requirements, FinCEN beneficial ownership rules, and correspondent banking de-risking have made the process more complex. This guide explains what Turkish companies need to know in 2026.
Franchising is a powerful market entry strategy for Turkish brands entering the US and for Turkish entrepreneurs acquiring US franchise rights. US franchise law is complex, federally regulated, and varies significantly by state. This guide covers the essentials for both Turkish franchisors and franchisees.
The US data privacy landscape has fragmented into a patchwork of state laws, with 20+ states now having comprehensive privacy statutes. Turkish companies with US customers or operations must navigate this complex environment while managing the intersection with GDPR obligations they already carry.
New York continues to lead the nation in employee-protective legislation. Turkish companies with New York operations face a dense calendar of new employment law requirements in 2026 — from expanded paid leave to non-compete restrictions and enhanced wage theft enforcement.
Vitabiotics Turkey has announced its integration into Prisum Healthcare, an international health company operating primarily in Romania, Greece, and Bulgaria. The transition marks a new phase for the British vitamin brand's Turkish operations, which have recorded strong growth over nearly a decade in one of Europe's fastest-expanding dietary supplement markets.
Entering the US market is one of the most significant decisions a Turkish company can make. This comprehensive checklist covers every legal, tax, regulatory, and operational step Turkish businesses need to complete for a successful US market entry in 2026.
The Delaware LLC vs. C-Corporation decision is one of the most consequential choices Turkish entrepreneurs make when entering the US market. 2026 brings updated tax considerations, evolving VC preferences, and new compliance requirements that affect this fundamental structuring decision.
The US-Turkey trade relationship is navigating a complex environment in 2026: shifting tariff regimes, evolving export control requirements, and new customs compliance obligations. Turkish exporters and US importers of Turkish goods need a current understanding of the legal landscape.
The EB-5 immigrant investor program continues to evolve in 2026 following the EB-5 Reform and Integrity Act. Turkish investors considering the EB-5 pathway to US permanent residency need current information on investment thresholds, processing times, set-aside categories, and regional center options.
Q1 2026 brings a dense calendar of regulatory deadlines and new rule implementations affecting Turkish businesses and investors in the United States. This roundup covers the most critical developments across tax, immigration, corporate compliance, trade, and financial regulation.
When a commercial dispute arises in the US, Turkish companies face a critical choice: arbitration or litigation? The right forum depends on the nature of the dispute, the contract, the counterparty, and strategic objectives. This guide analyzes both paths for Turkish businesses in 2026.
Turkish companies expanding into the US market face significant intellectual property risks if they fail to register and protect their brands and inventions early. This guide covers USPTO trademark registration, patent filing strategies, trade secret protection, and enforcement options for Turkish businesses.
FinCEN's beneficial ownership information (BOI) reporting requirements under the Corporate Transparency Act are now in active enforcement. Turkish-owned US entities that missed initial deadlines face escalating penalties. This update covers current obligations, exemptions, and correction procedures.
New York City's commercial real estate market is undergoing a structural reset in 2026. Turkish investors and buyers need to understand the office sector transformation, multifamily dynamics, and the legal frameworks governing acquisitions in one of the world's most complex real estate markets.
Q1 2026 presents a mixed M&A environment for Turkish investors eyeing US targets. Regulatory scrutiny remains elevated, but deal activity is recovering. This outlook covers sector opportunities, CFIUS considerations, and structuring strategies.
The H-1B cap season for FY2027 opens in March 2026. Turkish professionals and US employers sponsoring Turkish nationals must understand the lottery system, registration requirements, and strategic filing considerations to maximize approval chances.
Major US corporate tax provisions are shifting in 2026 as key TCJA elements expire and new minimum tax rules take effect. Turkish companies with US operations face critical planning decisions this quarter.
As 2025 draws to a close, Turkish businesses with U.S. operations face a rapidly shifting regulatory landscape. From tax policy and trade tariffs to immigration reform and corporate transparency requirements, the fourth quarter brought significant developments — and 2026 promises more change. This roundup covers the key legal and regulatory developments of Q4 2025 and outlines what Turkish-U.S. businesses should prepare for in the year ahead.
When a cross-border commercial dispute arises between a Turkish business and a U.S. counterparty, the choice of forum — U.S. federal or state court, or international arbitration — can determine the outcome as much as the underlying merits. This guide compares U.S. litigation and international arbitration, explains how to draft effective dispute resolution clauses, and outlines enforcement strategies.
The U.S. federal government is the world's largest single buyer of goods and services, spending over $700 billion annually. Turkish companies — in sectors from defense and aerospace to IT, construction, and professional services — can compete for this business. But the federal procurement system has its own rules, certifications, and compliance requirements. This guide explains how.
For Turkish companies entering the U.S. market, intellectual property protection is not optional — it is a prerequisite for sustainable growth. The U.S. IP system is among the world's most robust, but it rewards those who act first and act strategically. This guide covers trademarks, patents, copyrights, and trade secrets, with a practical roadmap for Turkish businesses.
The U.S. commercial real estate market offers Turkish investors compelling opportunities — from office and retail to industrial and multifamily assets. But acquiring U.S. commercial property involves a complex web of legal, tax, and regulatory requirements that differ fundamentally from Turkish practice. This guide walks through the full acquisition process, from entity structuring to closing.
Turkish-owned businesses operating in the United States face a complex web of anti-money laundering obligations under federal law. From Bank Secrecy Act reporting requirements to FinCEN's beneficial ownership rules, non-compliance carries severe penalties. This guide explains what AML compliance means in practice for Turkish entrepreneurs and investors with U.S. operations.
The United States hosts the world's largest and most sophisticated private equity and venture capital markets. For Turkish family offices, institutional investors, and high-net-worth individuals seeking exposure to U.S. alternative investments, understanding how these markets work — fund structures, investment mechanics, tax treatment, and regulatory considerations — is essential before committing capital. This guide provides a practical introduction.
When a Turkish company enters the U.S. market, one of the first structural decisions is whether to operate through a U.S. branch of the Turkish parent or a separate U.S. subsidiary. The choice has significant tax, liability, and operational consequences. This guide compares the two structures across the dimensions that matter most for Turkish companies.
The United States and Turkey have maintained a bilateral income tax treaty since 1997. For Turkish individuals earning U.S.-source income and Turkish companies investing in or doing business with the United States, the treaty provides significant benefits — reduced withholding tax rates, protection from double taxation, and clear rules on when U.S. tax jurisdiction applies. This guide explains the treaty's key provisions and how to use them effectively.
The third quarter of 2025 brought significant regulatory and legal developments across the areas most relevant to Turkish companies operating in or investing in the United States. This roundup covers the most important updates in foreign investment review, export controls, immigration, antitrust, and corporate compliance — and what they mean for Turkish-American business relationships.
U.S. contract law differs from Turkish law in important ways — from formation requirements to remedies for breach. Turkish business owners operating in the U.S. need to understand the fundamentals of U.S. commercial contracts to protect their interests, negotiate effectively, and avoid costly disputes. This guide covers the essentials every Turkish entrepreneur should know.
The Committee on Foreign Investment in the United States (CFIUS) reviews foreign acquisitions of U.S. businesses for national security risks. For Turkish companies pursuing U.S. acquisitions, CFIUS is a critical — and often underestimated — regulatory hurdle. This guide explains how CFIUS works in 2025, which transactions trigger review, and how Turkish acquirers can navigate the process effectively.
A U.S. trademark registration is one of the most valuable legal assets a Turkish company entering the American market can obtain. It provides nationwide priority, the right to sue infringers in federal court, and a powerful tool for stopping counterfeit goods at the U.S. border. This guide explains the U.S. trademark registration process, key strategic decisions, and how Turkish companies can protect their brands effectively.
U.S. export control laws — primarily the Export Administration Regulations (EAR) and the International Traffic in Arms Regulations (ITAR) — govern the transfer of technology, software, and goods between the U.S. and foreign parties, including Turkey. Turkish companies receiving U.S. technology and Turkish-American joint ventures must understand these rules to avoid severe civil and criminal penalties.
U.S. Real Estate Investment Trusts (REITs) offer Turkish investors a liquid, tax-efficient path to U.S. real estate exposure without the complexity of direct property ownership. This guide covers REIT structures, tax treatment for foreign investors, FIRPTA considerations, publicly traded vs. private REITs, and how Turkish investors can incorporate REITs into a broader U.S. investment strategy.
For Turkish entrepreneurs launching a U.S. business, the choice between a Delaware LLC and a Delaware C-Corporation is one of the most consequential early decisions. The right structure depends on your funding strategy, tax position, operational plans, and long-term exit goals. This guide compares both entities across the dimensions that matter most to Turkish founders.
Turkish professionals seeking to work in the United States have several visa pathways available, each with distinct eligibility requirements, processing timelines, and strategic trade-offs. This guide compares the three most relevant employment visa categories — H-1B, O-1, and TN — to help Turkish professionals and their employers choose the right path.
After a subdued 2024, the U.S. M&A market entered 2025 with renewed momentum driven by stabilizing interest rates, pent-up deal demand, and an active private equity exit environment. This Q3 2025 outlook examines deal volume trends, sector hotspots, financing conditions, and the regulatory landscape — with a focus on what Turkish acquirers and investors need to know heading into the second half of the year.
The Foreign Corrupt Practices Act (FCPA) is one of the most aggressively enforced U.S. laws affecting international business. Turkish companies with U.S. operations, U.S. subsidiaries, or U.S.-listed securities face FCPA jurisdiction — and the consequences of non-compliance can be severe. This guide explains FCPA's reach, its key prohibitions, and the compliance program elements every Turkish company with U.S. exposure needs.
The LLC operating agreement is the foundational document governing the rights and obligations of LLC members. For Turkish investors and business owners with U.S. LLCs, a well-drafted operating agreement is essential to protect their interests, define management authority, and plan for future events. This guide covers the key provisions every Turkish LLC member should understand.
The EB-5 Immigrant Investor Program offers Turkish nationals a direct path to U.S. permanent residence through qualifying capital investment. Following the 2022 Reform and Integrity Act, the program has undergone significant changes. This guide covers the current EB-5 requirements, investment thresholds, Regional Center vs. direct investment options, and processing timelines for Turkish investors.
Q2 2025 brought significant regulatory developments across employment law, securities, immigration, and M&A regulation. This roundup covers the most important Q2 developments and their implications for Turkish companies and investors operating in the United States.
SEC Regulation D provides a framework for U.S. companies to raise capital from private investors without registering the offering with the SEC. For Turkish investors in U.S. startups, private equity, and real estate, understanding Regulation D is essential. This guide explains the key exemptions, accredited investor requirements, and the compliance obligations for Turkish investors and issuers.
Buying a U.S. franchise is a popular path for Turkish investors seeking to establish a U.S. business — particularly those pursuing an E-2 Treaty Investor Visa. This guide explains the U.S. franchise regulatory framework, the Franchise Disclosure Document (FDD), key due diligence considerations, and the immigration implications of franchise ownership.
The FTC's 2024 rule banning most noncompete agreements for U.S. workers — currently subject to ongoing litigation — has significant implications for Turkish companies with U.S. employees. This guide explains the rule's scope, the litigation landscape, and how Turkish employers can protect their legitimate business interests under the new framework.
Turkish-owned U.S. businesses in regulated industries — financial services, real estate, money services, and others — are subject to U.S. anti-money laundering (AML) obligations under the Bank Secrecy Act. This guide explains the AML framework, the industries most affected, and the compliance program requirements for Turkish-owned businesses.
The O-1 visa is available to Turkish nationals who have demonstrated extraordinary ability in their field — whether in science, business, arts, education, or athletics. Unlike the H-1B, the O-1 has no annual cap and no lottery. This guide explains the O-1 criteria, the petition process, and how Turkish professionals can build a compelling O-1 case.
Turkish investors in U.S. real estate must choose the right legal structure for their investments. The choice between an LLC, limited partnership, and corporation affects liability protection, tax treatment, FIRPTA exposure, and estate planning. This guide analyzes the key trade-offs for Turkish real estate investors.
The Office of Foreign Assets Control (OFAC) administers and enforces U.S. economic sanctions programs that can affect Turkish companies with U.S. operations, U.S. dollar transactions, or U.S. counterparties. This guide explains OFAC's jurisdiction, the key sanctions programs relevant to Turkish businesses, and the compliance framework required to avoid penalties.
As Q2 2025 opens, the U.S. M&A market is navigating a complex environment: elevated interest rates, regulatory uncertainty, and geopolitical volatility — offset by strong corporate balance sheets and pent-up deal demand. This outlook analyzes the key trends and their implications for Turkish companies and investors pursuing U.S. acquisitions.
The L-1 intracompany transfer visa allows Turkish companies to transfer executives, managers, and specialized knowledge employees to their U.S. subsidiaries, affiliates, or parent companies. This guide covers L-1A and L-1B eligibility, the petition process, and the path to a green card through the EB-1C category.
Turkish companies operating in the United States face a complex federal and state tax landscape. From the 21% corporate rate to GILTI, BEAT, and transfer pricing rules, this guide covers the key U.S. corporate tax obligations for Turkish-owned U.S. subsidiaries and the planning opportunities available under the Turkey-U.S. Tax Treaty.
The Agricultural Foreign Investment Disclosure Act (AFIDA) requires foreign persons who acquire, transfer, or hold interests in U.S. agricultural land to report those holdings to the USDA. With enforcement intensifying in 2025, Turkish investors in U.S. farmland, timberland, and rural property must understand their AFIDA obligations.
Q1 2025 brought a wave of new regulatory requirements, enforcement actions, and compliance deadlines affecting Turkish businesses and investors in the United States. This roundup covers the most important developments across corporate compliance, tax, immigration, and M&A regulation.
Delaware and Wyoming are the two most popular states for forming U.S. holding companies. For Turkish parent entities structuring their U.S. presence, the choice between Delaware and Wyoming involves trade-offs in corporate law flexibility, privacy, cost, and tax treatment. This guide analyzes the key considerations.
The EB-5 Reform and Integrity Act of 2022 fundamentally restructured the EB-5 investor visa program. As the program enters its third year under the new framework, Turkish investors considering EB-5 must understand the current landscape — including the Integrity Fund, rural set-asides, and the reauthorized Regional Center program.
Blackstone's $10 billion acquisition of AIR Communities — one of the largest multifamily real estate transactions in U.S. history — illustrates the mechanics of large-scale real estate M&A, including REIT takeover structures, FIRPTA considerations, and the role of private equity in reshaping U.S. residential real estate.
Turkish companies entering the U.S. market face a fundamental strategic choice: acquire an existing U.S. business or form a joint venture with a U.S. partner. Each path has distinct legal, financial, and operational implications. This guide analyzes the key considerations for Turkish companies evaluating U.S. market entry structures.
Capital One's $35.3 billion acquisition of Discover Financial Services — the largest banking deal in over a decade — navigated an intense multi-regulator review before receiving approval in early 2025. The transaction illustrates the unique regulatory complexity of financial services M&A.
The Hart-Scott-Rodino Act requires pre-merger notification for transactions above specified thresholds — and the FTC adjusts those thresholds annually. For Turkish companies acquiring U.S. businesses, understanding HSR requirements is essential to avoid gun-jumping violations and ensure smooth transaction execution.
Synopsys's $35 billion acquisition of Ansys — the largest deal in electronic design automation history — navigated a complex multi-jurisdictional antitrust review before closing in January 2025. The transaction offers a masterclass in managing regulatory risk in technology sector M&A.
CFIUS activity reached record levels in 2024, with more filings, longer review timelines, and expanded scrutiny of non-traditional sectors. As foreign investors plan 2025 transactions, understanding CFIUS's evolving priorities is essential. We analyze the key trends and what they mean for Turkish acquirers.
The Corporate Transparency Act's beneficial ownership reporting deadline passed on January 1, 2025 for existing entities. Turkish companies with U.S. subsidiaries, LLCs, or corporations must ensure compliance — or face civil and criminal penalties. This checklist walks through every step.
New York's LLC Transparency Act, effective January 1, 2026, requires most New York LLCs to disclose beneficial ownership information to the state. Turkish businesses operating through New York LLCs face new compliance obligations that overlap — but do not duplicate — federal FinCEN requirements.
The Biden administration's CFIUS-backed veto of Nippon Steel's $14.9 billion bid for U.S. Steel sent shockwaves through the cross-border M&A community. We analyze the regulatory mechanics, political dimensions, and what Turkish acquirers must learn before pursuing U.S. targets in sensitive sectors.
A chronological reference of verified cross-border M&A transactions involving Turkish companies — from Yıldız Holding's 2007 acquisition of Godiva to Uber's consolidation of Turkey's on-demand delivery market in 2024. Each transaction is documented on the basis of publicly available sources.
In 2007, Turkey's Yıldız Holding acquired the iconic Belgian chocolate brand Godiva from Campbell Soup Company for $850 million. The transaction was one of the largest cross-border acquisitions by a Turkish company at the time. This analysis examines the deal structure, the subsequent restructuring of Godiva's global operations, and the legal dimensions relevant to Turkish companies pursuing international brand acquisitions.
In 2024, Uber acquired Trendyol Go, the food and courier delivery arm of Turkey's leading e-commerce platform Trendyol. The transaction gave Uber a direct foothold in Turkey's food delivery market and marked a significant step in the consolidation of the country's on-demand delivery sector.
Uber acquired Getir's Turkish operations in August 2024. Once valued at $11.8 billion as Turkey's first decacorn, Getir's distressed sale offers critical lessons on valuation cycles, distressed asset M&A mechanics, and the global consolidation of the quick commerce sector.