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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
November 13, 2013, 4:54 PM ET

Live Nation Entertainment (NYSE: LYV) is in “advanced negotiations” to acquire talent agenciesPrinciple Management and Maverick for more than $30 million, according to The NY Times. Principle’s acts include U2, while Maverick manages Madonna. www.livenation.com

Starbucks (Nasdaq: SBUX) has agreed to pay $2.75 billion to Mondelez International (Nasdaq: MDLZ), to settle a grocery store distribution dispute from when Mondelez was still part of Kraft Foods.www.starbucks.com

Kohlberg Kravis Roberts & Co. and Permira sold 35 million shares in listed German broadcasterProSiebenSat.1 Media AG (DB: PSM) for approximately €1.1 billion, thus lowering their combined ownership to around 17%.  www.prosiebensat1.com

The Riverside Co. has sold ProfitSystems, a Colorado Springs, Colo.-based provider of software to the retail furniture industry, to an undisclosed buyer. No financial terms were reported.www.profitsystems.com

Extended Stay America, a Charlotte-based budget hotel chain, has raised $565 million in its IPO. It priced 28.25 million shares at $20 per share ($18-$21 range), and will trade on the NYSE under ticket symbol STAY. Deutsche Bank Securities served 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

GeNo LLC
, a Waltham, Mass.-based developer of drugs to treat pulmonary and cardiac diseases, has filed for a $50 million IPO. It plans to trade on the Nasdaq under ticker symbol GNO, with Jefferies and Stifel serving as lead underwriters. The Medicines Co. (Nasdaq: MDCO) holds a 13.9% pre-IPO stake.www.genollc.com

Kohlberg Kravis Roberts & Co. is considering a flotation for British pet supplies retailer Pets At Home, according to the FT. The offering could value Pets At Home at around £1.5 billion, compared to the £955 million KKR paid to acquire the company from Bridgepoint in 2009. www.kkr.com

Chegg Inc., a Santa Clara, Calif.-based online textbook rental company, raised $188 million in its IPO. The company priced 15 million shares at $12.50 per share (above $9.50-$11.50 range), for a fully-diluted market cap of around $1.1 billion. It plans to trade on the NYSE under ticker symbol CHGG, while JPMorgan and BoA Merrill Lynch served as lead underwriters. Chegg had raised over $190 million in VC funding, from firms like Kleiner Perkins Caufield & Byers (15.1% pre-IPO stake), Gabriel Ventures (13.4%), Ace Ltd. (9.2%), Foundation Capital (8.5%) and Insight Venture Partners (7.6%). www.chegg.com

Sign up for Dan’s daily email newsletter on deals and deal-makers: GetTermSheet.com

 

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