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Markets Edge

Issued Thursday, June 25, 2026 · 06:00 UTC Edition 8/day editions · 6 papers From the chopped neck Latest Issue Archive Corporate Accounts
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Ranked by the pour ISABELLA'S ISLAY HENRI IV MACALLAN 1926 LOUIS XIII PAPPY 23 JOHNNIE BLUE WELL POUR
Also crossing the wire
ISABELLA'S ISLAYJPMorgan authorizes $50B buyback as Dimon's acquisition war chest takes shapeHENRI IVYum sells Pizza Hut for $2.7B in two-track deal, signaling category driftMACALLAN 1926Galaxy Digital converts $65M mining rescue into $4.5B AI infrastructure positionLOUIS XIIIInspire Brands files for $20B IPO with Dunkin' and Buffalo Wild Wings bundledPAPPY 23Youth sports platforms becoming PE target category; deal flow surging past 2025 full yearJOHNNIE BLUEAdidas, Bilibili, Allot announce new repurchase programs; $340M in fresh authorizationsWELL POURSpaceX Colossus lands $6.3B compute deal with Reflection AI; infrastructure becomes platformISABELLA'S ISLAYJPMorgan authorizes $50B buyback as Dimon's acquisition war chest takes shapeHENRI IVYum sells Pizza Hut for $2.7B in two-track deal, signaling category driftMACALLAN 1926Galaxy Digital converts $65M mining rescue into $4.5B AI infrastructure positionLOUIS XIIIInspire Brands files for $20B IPO with Dunkin' and Buffalo Wild Wings bundledPAPPY 23Youth sports platforms becoming PE target category; deal flow surging past 2025 full yearJOHNNIE BLUEAdidas, Bilibili, Allot announce new repurchase programs; $340M in fresh authorizationsWELL POURSpaceX Colossus lands $6.3B compute deal with Reflection AI; infrastructure becomes platform
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ISABELLA'S ISLAY Capital Markets Jun 25, 2:03 AM EDT
JPMorgan Chase
MSN Money ↗

JPMorgan authorizes $50B buyback as Dimon's acquisition war chest takes shape

JPMorgan Chase raised its quarterly dividend and announced a fresh $50 billion share repurchase program, signaling confidence in M&A capacity.

ReadingJPMorgan is not defending its position. It is enlarging its optionality. Expect three acquisition announcements within eighteen months.
WatchWhich Fortune 500 asset manager or wealth business gets the first call.
Read full analysis → Original ↗
capital marketsjpmorganbuybackm&a
HENRI IV M&A Intelligence Jun 25, 2:03 AM EDT
Yum Brands
Reuters ↗

Yum sells Pizza Hut for $2.7B in two-track deal, signaling category drift

Yum Brands announced the sale of its Pizza Hut chain for a combined $2.7 billion in two separate deals, highlighting diverging trajectories within its portfolio.

ReadingYum is shedding non-core at valuation peaks. Watch what they do with KFC next.
WatchTaco Bell divestiture announcement. Yum is restructuring into pure-play brands.
Read full analysis → Original ↗
m&ayum brandspizza hutdivestiture
MACALLAN 1926 Technology Intelligence Jun 25, 2:03 AM EDT
Galaxy Digital
MSN Money ↗

Galaxy Digital converts $65M mining rescue into $4.5B AI infrastructure position

Galaxy Digital turned its $65 million acquisition of the Helios mining facility into a cornerstone asset for a $4.5 billion AI infrastructure deal, pivoting from distressed bitcoin mining.

ReadingData center acquisitions at mining-adjacent valuations are now underpriced. The next three will be bought by software companies, not infrastructure funds.
WatchMining facility acquisitions from other PE firms. They will reprice upward within 90 days.
Read full analysis → Original ↗
technologyinfrastructureaidata centers
LOUIS XIII Capital Markets Jun 25, 2:03 AM EDT
Inspire Brands
Inc. ↗

Inspire Brands files for $20B IPO with Dunkin' and Buffalo Wild Wings bundled

Inspire Brands, owner of Dunkin' Donuts and Buffalo Wild Wings, confidentially filed for an IPO as part of a **$20 billion fast-food sector consolidation.

ReadingQSR franchisors are watching this valuation closely. Every other multi-brand holding company is now measuring their own exit timing.
WatchPublic filing date. When it lands, the comps will reset for all QSR platform companies.
Read full analysis → Original ↗
capital marketsipoinspire brandsdunkin
PAPPY 23 Venture Intelligence Jun 25, 2:03 AM EDT
S&P Private Markets
MSN Money ↗

Youth sports platforms becoming PE target category; deal flow surging past 2025 full year

Private equity is pouring capital into youth and amateur sports platforms at record pace in 2026, with deal value already exceeding full-year 2025 totals.

ReadingYouth sports assets that are not yet funded should expect term sheets within 90 days. Valuations will compress after that window.
WatchFirst youth sports platform to announce Series C. That will reset the market multiple.
Read full analysis → Original ↗
ventureprivate equityyouth sportsplatform
JOHNNIE BLUE Capital Markets Jun 25, 2:03 AM EDT
Tech Sector Buyback Wave
Yahoo Finance / SGB Online ↗

Adidas, Bilibili, Allot announce new repurchase programs; $340M in fresh authorizations

Adidas continued its buyback program with a second tranche, while Bilibili announced a new $300 million repurchase authorization and Allot unveiled a $40 million program.

ReadingThese companies will be acquisition targets within eighteen months. Buybacks are not defensive. They are dressing for sale.
WatchWhich of these three gets approached for acquisition first. The answer is Bilibili.
Read full analysis → Original ↗
capital marketsbuybackearningsstrategy
WELL POUR Technology Intelligence Jun 25, 2:03 AM EDT
SpaceX Colossus
Forbes ↗

SpaceX Colossus lands $6.3B compute deal with Reflection AI; infrastructure becomes platform

SpaceX signed a computing power deal worth up to $6.3 billion with open-source AI startup Reflection, converting its Colossus data center into a commercial platform.

ReadingEvery AI company without captive compute infrastructure just became a renter. The rent is high. The terms will tighten.
WatchWhich major AI lab signs next with Colossus. The buyer will reveal the actual market rate.
Read full analysis → Original ↗
technologyaiinfrastructurespacex
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