Who bought whom, at what price, on whose advice.

U.S. M&A, IPOs and the banks behind them, read from SEC filings. A free terminal for deal flow, precedent comps, league tables and the IPO pipeline, updated several times a day, with each deal linked to its source filing. No account needed.

Data as of Nov 7, 2026 · 17:01 ET

Highlights

$954.80B

Announced M&A value

Jan 1 – Nov 7, 2026 · YoY +56.8%

What Castle has read in SEC filings, not a market total: announced deals involving U.S.-listed companies, where a filing states the value or the price and shares to calculate it.

Deals tracked
2,610
Public and private targets · coverage from Dec 2020
Top advisor · 2026 YTD
Goldman Sachs
53 deals credited in filings Castle has read · $471.0B
IPOs filed
79
Companies in registration, not yet priced

The plate

72 months of announced M&A

One turn runs clockwise from December 2020 at the top to November 2026. Each spoke is a month: its length is the value announced, on a root scale, and its bands are the sectors, from Tech at the core to Industrials at the tip.

The largest month: Feb 2026 · $195B. The outer ring is the 2026 YTD league table, by value. Move across the plate to read a month.Tap the plate to read a month.

Volume

Recent transactions · read from SEC filings · $500M and up

Andersons to acquire Harvestone Low Carbon Partners

$915M
November 4, 2026Advised by Goldman Sachs8-K filed Nov 6

Marvell Technology to acquire Lumentum Holdings

$115B
November 2, 2026Advised by Citigroup and Qatalyst +38-K filed Nov 2

DoorDash to acquire Instacart

$17.0B
October 29, 2026Advised by Goldman Sachs and Centerview +18-K filed Oct 29

Thrive Holdings to acquire ADT

$15.3B
October 29, 2026Advised by Citigroup and Evercore +18-K filed Oct 29

These announcements appear as a matter of record only. Castle read them from SEC filings and advised on none of them.

Deal Flow

In the terminal

Newest deals with a stated valueDeal Flow
DateAcquirerTargetDeal valuePremium
Nov 5Willdan GroupMantis Innovation$285M—
Nov 4AndersonsHarvestone Low Carbon Partners$915M—
Nov 2Marvell TechnologyLumentum Holdings$115.00B23.9%
Nov 2Kewaunee ScientificNycom$55M—
Oct 29DoorDashInstacart$17.00B26.0%
Oct 29Thrive HoldingsADT$15.30B45.6%
Comps · Software, $1B and up, past 24 months · 19 dealsOpen this screen
TargetDeal valueEV / Adj. EBITDAEV / RevenuePremium
CCC Intelligent Solutions Holdings$6.10B16.0x5.5x44.0%
PTC$23.70B15.6x8.0x42.3%
Electronic Arts$55.00B22.1x7.4x25.0%
Dayforce$12.30B24.1x6.6x32.0%
Sapiens International$2.29B18.5x4.2x64.0%
75th percentile$8.62B21.7x7.8x48.3%
Median$5.66B17.6x6.1x33.0%
25th percentile$1.91B15.7x5.4x24.3%

As on Precedents: deal value is the enterprise value where it's known, else the headline value, and each statistic counts the deals that state it. Adj. EBITDA is operating income + D&A + impairment, restructuring, deal costs and stock compensation, less any large gain on a sale, last twelve months, from the target's filings. Calculated by Castle, so it can differ from a bank's adjusted figure.

League table · 2026 YTD, by valueAdvisors
RankAdvisorDeals advisedDeal value
1Goldman Sachs53$471.0B
2JPMorgan49$469.4B
3Evercore26$321.8B
4Citigroup22$312.7B
5BofA Securities28$262.1B
6Morgan Stanley45$255.2B
Pipeline · 79 filed · 0 priced · 26 tradingIPO Pipeline
CompanyStageDateExpected raiseLead bookrunner
Guitar GroupFiledNov 5—Univest Securities
Bambusa TherapeuticsTradingOct 29$169MBofA Securities
Aspen NeuroscienceTradingOct 29$141MLeerink Partners
KAT Construction ServicesFiledOct 29$20M—
LIS TechnologiesFiledOct 26$19MNorthland Capital Markets
What's market · 1,095 deals with terms readDeal Terms
Median break fee
3.1%
Median reverse fee
4.8%
With a go-shop
10%
No financing condition
99%
Deal valueDealsBreak feeReverse fee
Under $500M3103.6%4.3%
$500M – $2B2443.0%5.0%
$2B – $10B3262.9%4.8%
$10B+1012.9%4.8%

Each figure counts the deals where it's stated.

Also in the terminal: Volume Timelines Activism Multiples Deal Books World Economies What-if Data Coverage

Notes on the data

Blank is better than wrong.

  1. Read. Several times a day, Castle searches SEC EDGAR for new deal press releases, merger 8-Ks, merger proxies, tender offers and IPO prospectuses.
  2. Extract. Rule-based parsers read the parties, price, premium, value, advisors and deal terms. No AI model writes the numbers: a term that isn't clearly stated is left blank, and values and multiples are calculated only from stated figures (offer price × shares, reported financials).
  3. Check. Every update ends with a data-quality audit, and each deal links to its source filing. Data Coverage shows how complete each field is.

Coverage is partial: Castle tracks announced deals involving U.S.-listed companies, and SPACs, OTC shells and resales are out of scope. Sources: SEC EDGAR, plus IMF, BIS, FRED and BEA for macro data, and historical share prices from Yahoo Finance. About the data

One record, as Castle holds it
Deal value
$115.00B
Offer price
$1,132.00
Premium
23.9%
Payment
All stock
EV / Adj. EBITDA
—
EV / Revenue
38.2x
Target's advisors
Citigroup, Evercore
Acquirer's advisors
Qatalyst, JPMorgan, Goldman Sachs
Check it against the source: the press release, filed Nov 2 on SEC.gov
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