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M&A and IPOs

By
Dan Primack
Dan Primack
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By
Dan Primack
Dan Primack
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October 8, 2013, 2:34 PM ET
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McKesson Corp. (NYSE: MCK) is in talks to acquire German drug distributor Celesio (DB: CLS1) for approximately $5 billion, according to Dow Jones. www.mckesson.com

Gamevil, a listed South Korean mobile game developer and publisher, has agreed to acquire a 21% stake in rival Com2uS for approximately $65 million. www.gamevil.com

Carl Icahn disclosed that he has amassed a 5.97% stake in Canadian upstream oil and gas companyTalisman Energy (TSX: TLM), and said that he may discuss strategic alternatives with company management. www.talisman-energy.com

Magellan Health Services Inc. (Nasdaq: MGLN) has acquired Partners Rx Management LLC, a Scottsdale, Ariz.-based pharmacy benefit management company. No financial terms were disclosed.www.partnersrx.com

PHH Corp. (NYSE: PHH) may split up and sell its mortgage and auto fleet leasing businesses, according to Reuters. www.phh.com

IBM (NYSE: IBM) has acquired Xtify Inc., a New York–based provider of cloud-based mobile messaging tools. No financial terms were disclosed. Xtify had raised VC funding from Acadia Woods Partners and SeventySix Capital. www.ibm.com

One Equity Partners
 has agreed to sell Chemlogics, a Paso Robles, Calif.-based provider of specialty chemicals and polymers for the energy sector, to Solvay (Brussels: SOLB) for $1.345 billion in cash. www.solvay.com

Water Street Healthcare Partners has sold ConVerge Diagnostic Services, a Peabody, Mass.-based provider of clinical, cytology and anatomic pathology testing services, to Quest Diagnostics(NYSE: DGX). No financial terms were disclosed. www.waterstreet.com

Extended Stay America, a Charlotte-based budget hotel chain, has increased its IPO expectations from $100 million to $500 million. It has not yet disclosed pricing terms. 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

Norcraft Companies Inc
., an Egan, Minn.-based maker of kitchen and bathroom cabinetry, has filed for a $100 million IPO. It plans to trade on the NYSE under ticker symbol NCFT, with Citigroup and UBS serving as lead underwriters. It reports $3.5 million in net income on nearly $168 million in revenue for the first half of 2013. Shareholders include KarpReilly and Trimaran Capital Partners.www.norcraftcompanies.com

Voxeljet
, a German maker of large-format 3D printers and on-demand parts services to industrial and commercial customers, has set its IPO terms to 6.5 million shares being offered at between $13 and $15 per share. It plans to trade on the NYSE under ticker symbol VJET, with Piper Jaffray and Citigroup serving as lead underwriters. Voxeljet reports $5.8 million in revenue for the first six months of 2013. Shareholders include Franz Industriebeteiligungen AG, Startkapital-Fonds Augsburg GmbH, AleSta Beteiligungs GmbH and Technologie Beteiligungsfonds Bayern. www.voxeljet.de

Tandem Diabetes Care, a San Diego-based maker of medical devices for treating diabetes, has filed for a $100 million IPO. It plans to trade on the Nasdaq under ticker symbol TNDM, with BoA Merrill Lynch and Piper Jaffray serving as lead underwriters. The company has raised around $88 million in VC funding from firms like Delphi Ventures (26.91% pre-IPO stake), Domain Associates (26.22%), TPG Biotechnology Partners (20.30%), HLM Venture Partners (11.43%) and Kearny Venture Partners (6.4%). www.tandemdiabetes.com

Zulily, a Seattle-based ecommerce company focused on clothing and products for babies and children, has filed for a $100 million IPO. It plans to trade on the Nasdaq under ticker symbol ZU, with Goldman Sachs, BoA Merrill Lynch and Citigroup serving as lead underwriters. The company reports $2.4 million in net income on $272 million in revenue for the first half of 2013, compared to a $6 million net loss on $127 million in revenue for the year-earlier period. The company has raised nearly $140 million in VC funding from Maveron (23.6% pre-IPO stake), August Capital (7.5%) and Andreessen Horowitz (7.3%). www.zulily.com

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