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Pentagon accuses Alibaba, Baidu and BYD, three of China's biggest companies, of supporting the Chinese military

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Costco CEO Ron Vachris rose from forklift driver to the C-suite without a college degree: ‘Don’t chase a title’ is the career advice that got him there

M&A and IPOs

By
Dan Primack
Dan Primack
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By
Dan Primack
Dan Primack
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July 22, 2013, 3:38 PM ET

Extended Stay America, a Charlotte-based budget hotel chain, has filed for a $100 million IPO (likely a placeholder figure). The offering would pair one share of common stock in Extended Stay with one share of Class B common stock of a related REIT called ESH Hospitality. It plans to trade on the NYSE with Deutsche Bank Securities serving as lead underwriter. The company was acquired for $3.9 billion via a 2010 bankruptcy auction, by an investor group consisting of The Blackstone Group, Centerbridge Partners and Paulson & Co.www.extendedstay.com

Allbritton Communications Co. is expecting bids today for a portfolio of eight local television stations, in an auction expected to generate upwards of $1 billion, according to WSJ. Suitors include Hearst Corp., Meredith Corp., Tribune Co., Nexstar Broadcasting Group and Sinclair Broadcasting Group. www.albritton.com

Google has agreed to acquire a 6.3% stake in Himax Display, a subsidiary of Himax Technologies (Nasdaq: HIMX) that makes components used in such products as Google Glass, according to Reuters. www.google.com

Hutchison Whampoa, a listed Hong Kong conglomerate owned by Li Ka-shing, is considering a sale of its ParknShop supermarket chain in Hong Kong. www.hutchison-whampoa.com

Spartan Stores
 (Nasdaq: SPTN) has agreed to merge with fellow U.S. food distributor Nash Finch Co. (Nasdaq: NAFC) in an all-stock deal valued at $1.3 billion. Spartan shareholders would own nearly 58% of the combined company, with Nash Finch stockholders receiving 1.2 shares of Spartan Stores common stock for each of their own Nash Finch shares. www.spartanstores.com

Dropbox has acquired Endorse, a San Mateo, Calif.-based maker of a mobile app that rewarded consumer brand loyalty. No financial terms were disclosed. Endorse had shut down its app in late June, and had raised around $4.25 million in VC funding from Accel Partners and SV Angel.www.dropbox.com

Grohe AG
, a German bathroom equipment maker, has received four “exploratory” takeover offers from European rivals, according to Reuters. The company’s private equity sponsors – TPG Capital, Credit Suisse Private Equity and HarbourVest Partners – also are considering a possible flotation for Grohe, which could be valued at upwards of €4 billion. www.grohe-group.com

GTCR has hired Goldman Sachs and JPMorgan Chase to run a sale process for Six3 Systems Inc., a McLean, Va.–based provider of intelligence surveillance and reconnaissance solutions to the national security market, according to Reuters. The deal could be valued at upwards of $1 billion.www.six3systems.com

Althon Energy Inc., a Fort Worth, Texas-based oil and gas company focused on the Permian Basin, has set its IPO terms to nearly 15.79 million shares being offered at between $18 and $20 per share. It plans to trade on the NYSE under ticker symbol ATHL, with Citigroup serving as lead underwriter. The company reports $53 million of net income on $157 million in revenue for 2012. It is controlled byApollo Global Management. www.althonenergy.com

Control4 Corp., a Salt Lake City-based provider of automation and control solutions for the connected home, has set its IPO terms to 4 million shares being offered at between $15 and $17 per share. It would have an initial market cap of approximately $354 million, were it to price in the middle of its range. The company plans to trade on the Nasdaq under ticker symbol CTRL, with BoA Merrill Lynch and Raymond James serving as co-lead underwriters. Control4 reports a $3.7 million net loss on $109.5 million in revenue for 2012. It has raised nearly $80 million in VC funding, from Foundation Capital (28.5% pre-IPO stake), Thomas Weisel Venture Partners (16.4%), Signal Peak Ventures (12.7%), Frazier Technology Ventures (12.3%) and Cisco Systems (10.8%). www.control4.com

Sprouts Farmers Market, a Phoenix–based organic grocer owned by Apollo Global Management, has set its IPO terms to 18.5 million shares being offered at between $14 and $16 per share. It would have an initial market cap of approximately $2.15 billion, were it to price in the middle of its range. The company plans to trade on the Nasdaq under ticker symbol SFM, with Goldman Sachs and Credit Suisse serving as co-lead underwriters. www.sprouts.com

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