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M&A and IPOs

By
Dan Primack
Dan Primack
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By
Dan Primack
Dan Primack
Down Arrow Button Icon
May 15, 2013, 3:07 PM ET

Actavis Inc. (NYSE: ACT) last week received and rejected a $15 billion-plus acquisition offer from rival pharma company Mylan Inc. (Nasdaq: MYL), according to Reuters. www.actavis.com

Alvine Pharmaceuticals
, a San Carlos, Calif.–based developer of celiac disease therapeutics, has signed a global collaboration agreement with AbbVie (NYSE: ABBV) for an oral treatment that currently is in Phase 2 development. The deal includes a $70 million upfront cash payment, and the possibility of additional considerations. Alvine previously raised more than $50 million from AbbVie, Cargill Ventures, Black River Asset Management, Flagship Ventures, InterWest Partners, Panorama Capital, Prospect Venture Partners and Sofinnova Ventures. www.alvinepharma.com

DocuSign
, a Seattle-based electronic signature company, has acquired Cartavi, a Naperville, Ill.-based provider of document management solutions for mobile real estate professionals. No financial terms were disclosed. DocuSign has raised around $112 million in VC funding from Google Ventures, Kleiner Perkins Caufield & Byers, Accel Partners, Comcast Ventures, SAP Ventures, Salesforce.com and the National Association of Realtors. www.docusign.com

Warner Music received EU approval to purchase the Parlophone Label Group from Universal Music Group for £487 million. Universal was selling the group as a condition of its $1.9 billion purchase of EMI’s recorded music business.

Wal-Mart Stores (NYSE: WMT) has made two acquisitions via its WalmartLabs unit: OneOps, a cloud platform-as-a-service startup; and Tasty Labs, a social software developer from Delicious founder Joshua Schachter. No financial terms were disclosed for either. Tasty Labs had raised around $3 million in VC funding from Andreessen Horowitz, Felicis Ventures, Union Square Ventures, SV Angel and SoftTech VC. www.walmartlabs.com

Bluebird Bio, a Cambridge, MA-based genetics company, has filed for an $86.25 million IPO. It plans to trade on the Nasdaq under ticker symbol BLUE, with J.P. Morgan and BoA Merrill Lynch serving as lead underwriters. The company reports a $6.5 million net loss on $1.1 million of Q1  revenue. It has raised around $130 million in VC funding, from Third Rock Ventures (28.1% pre-IPO stake), TVM Capital (14.3%), Fidelity Investments (11.8%), Arch Venture Partners (10.6%), Capital Research & Management Co. (9.2%), Forbion Capital Partners (7.4%), Deerfield Partners, RA Capital, Ramius Capital Group and Shire PLC. www.bluebirdbio.com

Covisint Corp., a Detroit-based cloud engagement platform being spun out of Compuware (Nasdaq: CPWR), has filed for a $100 million IPO. It plans to trade on the Nasdaq under ticker symbol COVS, with Credit Suisse serving as lead underwriter. The company reports a $3.3 million net loss on nearly $75 million in revenue for 2012, compared to a $1.3 million net loss on $27 million in revenue for 2011.

Esperion Therapeutics Inc.
, a Plymouth, Mich.-based developer of oral low-density lipoprotein cholesterol lowering drugs, has filed for a $70 million IPO. It plans to trade on the Nasdaq under ticker symbol ESPR, with Credit Suisse and Citigroup serving as lead underwriters. Esperion has raised around $33 million in VC funding from firms like Alta Partners (21.8% pre-IPO stake), Aisling Capital (21.8%), Domain Associates (21.8%), Longitude Capital (20%) and Arboretum Ventures (6.8%). www.esperion.com

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By Dan Primack
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