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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
October 2, 2013, 4:41 PM ET

Monsanto (NYSE: MON) has acquired The Climate Corp., a San Francisco-based provider of agricultural insurance program based on weather events. The deal is valued at approximately $930 million in cash, although some sources are suggesting that there also is an additional equity component. So far we’ve been unable to get a clear answer on that from Monsanto, but hope to have an update for tomorrow. The Climate Corp. had raised around $109 million in VC funding from Khosla Ventures, Index Ventures, First Round Capital, Glynn Capital Management, New Enterprise Associates, The Founders Fund, Google Ventures, Felicis Ventures and Atomico Ventures. www.weatherbill.com

Cargill Inc. is in the “final stages” of a deal to buy Archer Daniels Midland Co.’s (NYSE: ADM) cocoa business, according to Reuters. www.cargill.com

Chanticleer Holdings Inc. 
(Nasdaq: HOTR) has acquired American Roadside Burgers Inc., a Charlotte, N.C.-based chain of five casual restaurants. No financial terms were disclosed.www.chanticleerholdings.com

Proofpoint Inc. (Nasdaq: PFPT) has acquired SendMail Inc., an Emeryville, Calif.-based company that helps large enterprises simply business email complexity. The deal is valued at approximately $23 million in cash. www.sendmail.com

Pacific Community Ventures has sold its stake in Evergreen Lodge, a Groveland, Calif.-based family resort, to Meyer Family Enterprises. No financial terms were disclosed.www.evergreenlodge.com

Shamrock Capital Advisors has agreed to sell the Harlem Globetrotters basketball club toHerschend Family Entertainment, owner of the Dollywood theme parks. No financial terms were disclosed. www.harlemglobetrotters.com

Barracuda Networks Inc., a Campbell, Calif.-based provider of content security, data protection, and application delivery solutions, has filed for a $150 million IPO. It plans to trade under ticker symbol CUDA, with Morgan Stanley, J.P. Morgan and BoA Merrill Lynch serving as lead underwriters. The company reports a $4.9 million net loss on $114 million in revenue for the six months ending August 31. The company recently raised $130 million via recap funding from Francisco Partners (26.5% pre-IPO stake) and Sequoia Capital (17.4%). www.barracudanetworks.com

Burlington Stores Inc., a Burlington, N.J.-based off-price apparel retailer owned by Bain Capital, raised $227 million in its IPO. The company priced 13.3 million shares at $17 per share (above $14-$16 range), for an initial market cap of around $1.2 billion. It will trade on the NYSE under ticker symbol, while J.P. Morgan, Morgan Stanley and BoA Merrill Lynch served as lead underwriters. Bain Capital bought Burlington Stores in 2006 for just over $2 billion. www.burlingtoncoatfactory.com

Macrogenics Inc., a Rockville, Md.-based developer of monoclonal antibody-based therapeutics for the treatment of cancer and autoimmune diseases, has set its IPO terms to four million shares being offered at between $14 and $16 per share. It plans to trade on the Nasdaq under ticker symbol MGNX, with BoA Merrill Lynch serving as lead underwriter. Shareholders include TPG Capital, Alta Partners, InterWest Partners, MPM Capital, Caisse de dépôt et placement du Québec and Ventures West.www.macrogenics.com

RE/MAX Holdings Inc., a Denver-based real estate brokerage, raised $220 million in its IPO. The company priced 10 million shares at $22 per share (above $19-$21 range), and will trade on the NYSE under ticker symbol RMAX. Morgan Stanley, BoA Merrill Lynch and J.P. Morgan served as lead underwriters. The company reports around $15 million in net income on $78 million in revenue for the first six months of 2013, compared to $14 million on $70 million in revenue for the year-earlier period. RE/MAX shareholders include private equity firm Weston Presidio. www.remax.com

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By Dan Primack
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