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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
July 15, 2013, 5:47 PM ET

AT&T Inc. (NYSE: T) has agreed to acquire prepaid mobile service provider Leap Wireless Inc.(Nasdaq: LEAP) for $1.19 billion, or $15 per share (88% premium to Friday’s closing price).www.leapwireless.com

Grupo BTG Pactual has agreed to acquire the underwater fiber optic cable units of Brazilian wireless carrier Grupo Oi SA for around $772 million. www.btgpactual.com

Guggenheim Partners is in talks to take a control equity interest in BCBG Max Azria Group Inc.from founder Max Azria, in a debt for equity swap, according to the WSJ. Guggenheim currently holds around $475 million of the fashion house’s $685 million in debt. www.bcbg.com
J.P. Morgan is seeking buyers for metal warehousing business Henry Bath, according to the FT. This follows an earlier report that Goldman Sachs is looking to unload its own metal warehouse business, called Metro International. www.jpmorgan.com

Abbott Labs (NYSE: ABT) has agreed to acquire OptiMedica Corp., a Sunnyvale, Calif.-based developer of a laser system for cataract surgery. The deal is valued at upwards of $400 million, including a $250 million upfront payment. OptiMedica had raised over $85 million in VC funding, from firms like Kleiner Perkins Caufield & Byers, Alloy Ventures, DAG Ventures, BlackRock Private Equity Partners and Bio*One Capital. www.optimedica.com

Loblaw Cos. (TSX: L) has agreed to acquire Canadian pharmacy chain Shoppers Drug Mart Corp.(TSX: SC) for approximately C$12.4 billion, or C$61.54 per share, in cash and stock. www.loblaw.ca

Starboard Value has hired Moelis & Co. and BDA Advisors to find possible alternatives (i.e. breakup) to the proposed $4.7 billion acquisition of U.S. pork producer Smithfield Foods (NYSE: SFD) to China’s Shuanghui International. Starboard has around a 1.71% stake in Smithfield.www.smithfieldfoods.com

SumAll, a New York-based data connectivity startup, has acquired German social media monitoring company TwentyFeet for an undisclosed amount. SumAll also announced $2 million in new venture debt from Silicon Valley Bank. It previously raised $6 million in Series A funding from Battery Ventures and Wellington Partners. www.sumall.com

WL Ross & Co. has exercised all of its remaining warrants in The Greenbriar Cos. (NYSE: GBX), which originally were issued in connection with a 2009 investment in Greenbrier. The decision resulted in 862,400 shares of common stock being issued, with WL Ross subsequently selling half of them.www.wlross.com

ClubCorp Holdings Inc., a Dallas-based golf club operator owned by KSL Capital Partners, has filed for a $100 million IPO. It plans to trade on the NYSE, with Goldman Sachs, Jefferies and Citigroup serving as lead underwriters. The company reports a $27 million net loss on $755 million in revenue for its most recent fiscal year. www.clubcorp.com

KrisEnergy Ltd., a Singapore-based upstream energy company, is planning to raise upwards of $204 million via a Singapore IPO. Shareholders include First Reserve Corp. www.krisenergy.com

Tnuva Food Industries, an Israeli dairy producer controlled by Apax Partners, is considering a Tel Aviv IPO that could value the company at around $2.2 billion, according to Bloomberg. www.tnuva.co.il
WCI Communities Inc., a Bonita Springs, Fla.-based luxury homebuilder in coastal Florida, has set its IPO terms to 8.41 million shares being offered at between $21 and $23 per share. It would have an initial market cap of approximately $567 million, were it to price in the middle of its range. The company plans to trade on the NYSE under ticker symbol WCIC, with Citigroup, Credit Suisse and J.P. Morgan serving as lead underwriters. Shareholders include Monarch Alternative Capital (40.1% pre-IPO stake), Stonehill Institutional Partners (36.1%) and Royal Bank of Scotland (5.9%). www.wcicommunities.com

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