Fox-Roku’s $22B Deal, A New Nasdaq Biotech And A $25B Chemicals Tie-Up: Deals Investors Are Watching

Three major deals involving Fox and Roku, InMed Pharmaceuticals and Mentari Therapeutics, and AkzoNobel and Axalta are in focus this week.

• On Friday, Fox completed ​its $22 billion acquisition ‌of Roku in a major streaming bet.
• Last week, InMed Pharmaceuticals completed its merger with privately held Mentari Therapeutics and is expected to start trading on Nasdaq under the ticker MTRI on Monday.
• Dutch multinational company AkzoNobel and U.S. peer Axalta have received EU approval for a $25 ​billion merger conditional on sale of certain European assets. 

Deals across the media, pharmaceutical and specialty chemicals sectors are in focus this week as investors track strategic acquisitions and consolidations in the market. 

On Friday, Fox Corp. (FOXA), completed ​its $22 billion acquisition ‌of Roku Inc. (ROKU) in a major streaming bet that is expected to bolster the former’s ⁠advertising business ​and expand its ​online reach.

Last week, InMed Pharmaceuticals Inc. (INM) completed its merger with privately held Mentari Therapeutics, Inc. and is expected to start trading on Nasdaq under the ticker MTRI on Monday.

Also, Dutch multinational company AkzoNobel and U.S. peer Axalta (AXTA) have received EU approval for a $25 ​billion merger on Friday.

Fox Completes $22B Roku Acquisition 

On Friday, Fox officially completed its $22 billion acquisition of Roku, bringing the streaming platform under its ambit ahead of the original 2027 timeline. 

The deal, which was announced in June, is expected to bolster the company’s ⁠ad business ​and expand its ​online reach of sports and news programming.

Under the deal, Roku shareholders received $95.30 in cash and 0.9799 shares of Fox Class A stock per share, with Fox shareholders owning 74% of the combined company and Roku investors holding 26% stake.

The cash-and-stock deal will give Fox ‌access ⁠to the more than 100 million households using ​Roku's platform, expected to ⁠help the cable ​media company expand its digital audience and better ⁠target ​ads.

On Stocktwits, retail sentiment around FOXA slipped from ‘neutral’ to ‘bearish’ territory at the time of writing. 

InMed Completes Merger, Shares To Trade As MTRI

On Friday, InMed Pharmaceuticals completed its merger with privately held Mentari Therapeutics, and the combined company will take the Mentari name and begin trading as MTRI on Nasdaq from Nov. 9. 

The new company is expected to become a vehicle for Mentari's migraine-prevention pipeline, shifting its focus from cannabinoid-based drug development.

The deal closure comes alongside about $490 million in private financing that Mentari completed just before the merger, including the conversion of $50 million in previously issued convertible notes, plus accrued interest.

As part of the restructuring, the company redomiciled from British Columbia to Nevada and implemented a 1-for-10 reverse stock split.

Mentari is now expected to focus on advancing its migraine pipeline, including MT-001 and MT-002, while eligible shareholders will receive one non-transferable contingent value right (CVRs) per share. 

At the time of writing, retail sentiment around INM stock was ‘bearish’ on Stocktwits. 

AkzoNobel, Axalta Get EU Approval For $25B Merger 

Dutch paint maker AkzoNobel and U.S. Axalta secured European Union approval for their $25 billion merger after the companies agreed to sell assets in Europe to address competition concerns.

The European Commission said divesting AkzoNobel's European vehicle refinish coatings business would prevent the combined company from gaining excessive market power.

Announced in November 2025, the deal combines two major coatings manufacturers, with the EU's approval conditional on the agreed asset sale.

On Stocktwits, retail sentiment around AXTA was ‘bullish’ at the time of writing. 

For updates and corrections, email newsroom[at]stocktwits[dot]com.<