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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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'We are rapidly running out of time': Watchdog sounds Social Security alarm after 22% cut confirmed for 2032

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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
Down Arrow Button Icon
September 20, 2013, 3:03 PM ET

Jardine Lloyd Thompson Group (LSE: JLT) has agreed to acquire the reinsurance brokerage of Towers Watson (NYSE: TW) for $250 million in cash. www.jltgroup.com

Avianca Holdings, a Latin American airline based in Panama, has filed for a $100 million IPO. It plans to trade on the NYSE under ticker symbol AVH, and to continue trading on the Colombian Stock Exchange under symbol PFAVH. J.P. Morgan and Citigroup are serving as lead underwriters.www.aviancataca.com

Bind Therapeutics Inc., a Cambridge, Mass.-based nanomedicines company, raised around $71 million in its IPO. The company priced 4.7 million shares at $15 per share (middle of range), for an initial market cap of approximately $237 million. It will trade on the Nasdaq under ticker symbol BIND, while Credit Suisse and Cowen & Co. served as lead underwriters. Shareholders include Polaris Venture Partners (18% pre-IPO stake), Flagship Ventures (13.9%), Rusano (11.5%), DHK Investments (8.6%), Arch Venture Partners (8.5%) and NanoDimension (6%). www.bindtherapeutics.com

Burlington Stores Inc., a Burlington, N.J.-based off-price apparel retailer owned by Bain Capital, has set its IPO terms to 13.33 million shares being offered at between $14 and $16 per share. It would have an initial market cap of $1.07 billion, were it to price in the middle of its range. The company plans to trade on the NYSE under ticker symbol, with J.P. Morgan, Morgan Stanley and BoA Merrill Lynch serving as lead underwriters. Bain Capital bought Burlington Stores in 2006 for just over $2 billion.www.burlingtoncoatfactory.com

ClubCorp Holdings Inc., a Dallas-based golf club operator owned by KSL Capital Partners, raised around $252 million in its IPO. The company priced 18 million shares at $16 per share (low end of range), for an initial market cap of approximately $983.5 million. ClubCorp will to trade on the NYSE, while Goldman Sachs, Jefferies and Citigroup served 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

CHC Group Ltd., a Canadian commercial helicopter operator, has filed for a $400 million IPO. It plans to trade on the NYSE, with J.P. Morgan and Barclays serving as lead underwriters. The company reports a $35 million net loss on $415 million in revenue for Q2 2013, compared to a $32 million net loss on $416 million in revenue for the year-earlier period. First Reserve Corp. is majority shareholder of CHC, and plans to remain so following the offering. www.chc.ca

Rocket Fuel Inc., a Redwood Shores, Calif.-based provider of artificial intelligence advertising solutions for digital marketers, raised around $116 million in its IPO. The company priced 4 millionshares at $29 per share (high end of upwardly-revised range), for an initial market cap of approximately $942 million. It will trade on the Nasdaq under ticker symbol FUEL, while Credit Suisse and Citigroup served as lead underwriters. RocketFuel has raised more than $75 million in VC funding from Mohr Davidow Ventures (40.1% pre-IPO stake), Nokia Growth Partners (9.5%), Northgate Capital (7.2%) and Labrador Ventures (5.3%). www.rocketfuel.com

Valero Energy Partners, a group of pipeline and logistics assets being spun off by Valero Energy Corp. (NYSE: VLO), has filed for a $345 million IPO. It plans to trade on the NYSE under ticker symbol VLP, with J.P. Morgan and Barclays serving as lead underwriters. www.valero.com

FireEye Inc., a Milpitas, Calif.-based provider of cyber attack protection, raised around $303.6 million in its IPO. The company priced 15.18 million shares at $20 per share, compared to earlier plans to offer 14 million shares at between $12 and $14 per share. It has an initial market cap of approximately $2.3 billion, and will trade under ticker symbol FEYE. Morgan Stanley was listed as left lead underwriter. Fireeye reports a $67 million net loss on $62 million in revenue for the first half of 2013, compared to a $14 million net loss on $30 million in revenue for the year-earlier period. It has raised over $85 million in VC funding from Sequoia Capital (21.1% pre-IPO stake), Norwest Venture Partners (20.4%), DAG Ventures (10.3%), JAFCO Ventures (7.4%), Silicon Valley Bank (6.3%), Juniper Networks, Goldman Sachs and In-Q-Tel. www.fireeye.com

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