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AI CEOs from OpenAI, Anthropic, and Microsoft set aside their rivalry to warn Congress AI is making it too easy to design and create bioweapons

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AI CEOs from OpenAI, Anthropic, and Microsoft set aside their rivalry to warn Congress AI is making it too easy to design and create bioweapons

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Billionaires Elon Musk and Mark Zuckerberg used mortgages to buy multimillion-dollar mansions. Here’s why that’s a savvy financial decision

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Social Security faces a 24% cut in 2032—that's a $345 billion hit to retirees nationwide, watchdog says

M&A and IPOs

By
Dan Primack
Dan Primack
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By
Dan Primack
Dan Primack
Down Arrow Button Icon
June 21, 2013, 2:15 PM ET

Archer Daniels Midland Co. (NYSE: ADM) is seeking to sell its cocoa and chocolate business for upwards of $2 billion, according to the FT. www.adm.com

Cisco Systems (Nasdaq: CSCO) has agreed to acquire Composite Software Inc., a San Mateo, Calif.-based provider of data virtualization software and services, for approximately $180 million in cash and retention-based incentives. Composite Software has raised more than $12 million in VC funding from firms like Apax Partners, Clearstone Venture Partners, Dot Edu Ventures, IBM, Palomar Ventures and Tenaya Capital. www.compositesw.com

Mitsubishi UFJ Trust and Banking Corp.
 has agreed to acquire Butterfield Fulcrum, a Bermuda–based alternative fund administrator, from BV Investment Partners. No financial terms were disclosed. www.bfgl.com

Oak Hill Capital Partners is expecting final bids today for Local TV LLC, a Newport, Ky.-based owner and operator of 19 television stations, according to the WSJ. The total portfolio could be worth upwards of $2.5 billion, although it may be broken up among strategic buyers www.localtvllc.com

DNA Oy, a Finnish wireless carrier, is considering either a public float or a sale to private equity, according to Bloomberg. The company reportedly could be worth around €1.1 billion. www.dna.fi

Nets, a Nordic card payment processor, has retained J.P. Morgan to fund a buyer, according to Reuters. The deal could be worth between €1 billion and €2 billion. Shareholders include Nordea Bank, DNB and Danske Bank.

OAO Gazprom of Russia has agreed to acquire a 405-megawatt power plant in Belgium from Italy’sEnel SpA for approximately $265 million.

Oracle said that it will transfer its stock listing from the NASDAQ to the NYSE. Based on market cap, it would be the largest listing transfer in history. www.oracle.com

Tsinghua Holdings Co Ltd. has offered to acquire Chinese mobile chipmaker Spreadtrum Communications Inc. for $1.38 billion, or $28.50 per share (28% premium to yesterday’s closing price).

Al Noor Hospitals Group, an Abu Dhabi-based provider of healthcare services, has raised £221 million in a London IPO. The company will list on the LSE under ticker symbol ANH, and has an initial market cap of approximately £673 million. Deutsche Bank, Goldman Sachs and HSBC served as lead underwriters. Significant shareholders include Ithmar Capital. www.alnoorhospital.com

Gogo Inc., an Itasca, Ill.-based provider of WiFi access to airline passengers, raised $187 million in its IPO. The company priced 11 million shares at $17 per share (high end of $15-$17 range), for an initial market cap of approximately $1.46 billion. It will trade on the Nasdaq under ticker symbol GOGO, while Morgan Stanley, J.P. Morgan and UBS served as co-lead underwriters. Shareholders includeRipplewood Holdings (38% pre-IPO stake) and Blumenstein/Thorne Information Partners (5.7%). Gogo reports a $32 million net loss on $233 million in revenue for 2012, compared to a $23 million net gain in 2011 on $160 million in revenue. www.gogo.com

Moncler, an Italian high-end clothing and accessories company, has picked banks for an upcoming IPO that could raise upwards of €800 million by selling between 30 and 35 of the company, according to Bloomberg. Bank of America and Goldman Sachs are leading the underwriting group. Shareholders include The Carlyle Group, Eurazeo, IDInvest Partners, Omnes Capital and Progressio SGR. www.moncler.com

Sign up for Dan’s daily email newsletter on deals and deal-makers: GetTermSheet.com

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