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D.C.'s affordability headache has a silver bullet, new study shows: Tackling $40 trillion national debt would boost household income by $36,000

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D.C.'s affordability headache has a silver bullet, new study shows: Tackling $40 trillion national debt would boost household income by $36,000

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After 40 investors rejected Jeff Bezos’ Amazon pitch, his parents offered $245,573 of their retirement savings

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China now makes up a record 40% of all global container exports—and it’s a sign Trump’s tariffs meant to punish Chinese firms have fallen flat

M&A and IPOs

By
Dan Primack
Dan Primack
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By
Dan Primack
Dan Primack
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June 19, 2013, 2:52 PM ET
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Royalty Pharma said that it has ended its pursuit of Irish drugmaker Elan PLC (NYSE: ELN), after repeated rejections. www.elan.com

Mengniu Dairy Co Ltd. (HK: 2319) has offered to acquire Yashili International Holdings Ltd. (HK: 1230), a New Zealand-sourced seller of dairy products in China, for approximately $1.6 billion. Yashili International shareholders include The Carlyle Group. www.yashili.hk

SunGard Data Systems
 is in talks to sell its data management unit for upwards of $2 billion, according to Reuters. Goldman Sachs is managing the process. SunGard was taken private in 2005 for $11.4 billion by a private equity consortium that included Bain Capital, The Blackstone Group, Goldman Sachs Capital Partners, KKR, Providence Equity Partners, Silver Lake and TPG Capital.www.sungard.com

TripAdvisor (Nasdaq: TRIP) has acquired GateGuru, a New York-based mobile app that provides information on airport conditions and amenities. No financial terms were disclosed. GateGuru had raised angel funding. www.gateguru.com

Bluebird Bio, a Cambridge, MA-based genetics company, raised $101 million in its IPO. The company priced $5.9 million shares at $17 per share (compared to plans to offer 5m shares at $14-$16), for an initial market cap of approximately $372 million. It will trade on the Nasdaq under ticker symbol BLUE, while J.P. Morgan and BoA Merrill Lynch served as lead underwriters. Bluebird Bio had 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 

City Ventures Inc., a Newport Beach, Calif.-based homebuilder, has filed for a $150 million IPO. It plans to trade on the NYSE under ticker symbol CTYV, with Deutsche Bank and Goldman Sachs serving as lead underwriters. Shareholders include Ares Management and Imperial Capital Group.www.cvassets.com

Iroko Pharmaceuticals Inc., a Philadelphia-based developer of nonsteroidal anti-inflammatory drugs for patients with acute and chronic pain, has filed for a $145 million IPO. It plans to trade on the Nasdaq under ticker symbol IRKO, with Jefferies and William Blair serving as lead underwriters. The company reports a $74 million net loss on just under $10 million in revenue for 2012. www.iroko.com

Votorantim Cimentos SA, a Brazilian cement producer, has postponed its planned IPO. The company had planned to price 400 million units being offered at between $15.59 and $18.51 a piece. It would trade on the NYSE under ticker symbol VEBM, with listed underwriters including Morgan Stanley, J.P. Morgan, Itaú BBA, Credit Suisse and BTG Pactual. www.votorantimcimentos.com.br

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By Dan Primack
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