Thoma Bravo is in talks to merge shipping software provider Auctane with third-party logistics company WWEX to create a combined business valued at up to $12bn, according to a report by Bloomberg citing people familiar with the matter. The private equity firm is reportedly proposing an equity injection of around $500m into the new company.

The private equity owners of the UK’s two largest roadside recovery businesses, the AA and the RAC, are moving toward potential exits next year, with both companies targeting valuations of around £5bn, according to a report by the Financial Times.

Coca-Cola held last-ditch talks with private equity firm TDR Capital over the weekend in a bid to to salvage the proposed deal for the sale of Costa Coffee after negotiations stalled over price, according to a report by the Financial Times.

Japan’s mergers and acquisitions market is expected to remain strong through 2026, supported by larger deal sizes and increasingly sophisticated financing structures involving private capital, according to a report by Reuters citing a Goldman Sachs executive.

Private equity firm Carnelian Energy Capital is seeking to sell six North American oil and gas investments, in a move that would represent the bulk of its oil and gas portfolio and roughly 40% of its overall investments, according to a report by Reuters citing people familiar with the matter.

Lumexa Imaging, a US diagnostic imaging services provider backed by private equity firm Welsh, Carson, Anderson & Stowe (WCAS), has raised $462.5m through an initial public offering, according to a report by Reuters. The flotation values the Raleigh, North Carolina-based business at $1.75bn.

Pamlico Capital, a private equity investment firm specialising in scaling high-growth technology companies, has invested in EHS Insight, a provider of cloud-based environmental, health, and safety (EHS) software.