Your email preview

Announcements

We have our new website up and running! Please visit http://haas.campusgroups.com/peclub/home/ and take a look!

This site is the portal through which we communicate with fellow classmates, applicants, and future employers! So we need your advice and ideas to make it better. Click to write to me about your suggestions and feedback.

News and Deals

Again, lots of activities...

BrightSource Energy, an Oakland-based thermal power plant developer, has filed for a $250 million IPO. Goldman Sachs, Citi and Deutsche Bank Securities are serving as co-lead underwriters. The company reports a $71 million net loss in 2010 on around $13 million in revenue. It has raised over $360 million in VC funding, from firms like VantagePoint Venture Partners (24.9% pre-IPO stake), Alstom Power (17.8%), Morgan Stanley (10.5%), Draper Fisher Jurvetson (6.7%) and Riverwood Capital Partners

Eigen Capital has acquired Plews Inc., a Dixon, Ill.-based distributor of automotive and industrial replacement parts and accessories, from Tomkins Ltd. No pricing terms were disclosed. Medley Capital and ABL provided debt financing, while Union Bank provided real estate financing.

CPG International Inc., a Scranton, Penn.-based maker of synthetic building products, has filed for a $150 million IPO. Underwriters include Barclays Capital, Deutsche Bank Securities and Credit Suisse. Shareholders include AEA Investments and Pamlico Capital.

Kosmos Energy Inc., an oil and gas exploration company focused on Africa, has set its IPO terms to 30 million shares being offered at between $16 and $18 per share. It plans to trade on the NYSE under ticker symbol KOS, with Credit Suisse and Citi serving as co-lead underwriters. Shareholders include Warburg Pincus and The Blackstone Group.

Party City Holdings Inc., an Elmsford, N.Y.-based supplier of decorated party supplies, has filed for a $350 million IPO. Goldman Sachs and BoA Merrill Lynch are serving as co-lead underwriters. The company reports a $49 million net gain in 2010 on $1.6 billion in revenue. Shareholders include Advent International (37.12% pre-IPO stake), Berkshire Partners (36.15%) and Weston Presidio (17.45%).

Solera Holdings Inc. (NYSE: SLH) has agreed to acquire Explore Information Services, an Eagan, Minn.–based provider of data and analytics services used by automotive property and casualty insurers. The deal is valued at approximately $520 million in cash. Explore currently is owned by Altegrity, a portfolio company of Providence Equity Partners.

ValueClick Inc. (Nasdaq: VCLK) has acquired Greystripe Inc., a San Francisco–based mobile advertising network, for approximately $70 million in cash. Greystripe previously raised over $17 million in VC funding from Peacock Equity, Incubic Venture Capital, Monitor Ventures and Steamboat Ventures.

Barrick Gold Corp. (TSX/NYSE: ABX) has agreed to acquire Australian miner Equinox Minerals for C$8.15 per share, or US$7.8 billion. This tops a rival offer for Equinox from China’s Minmetals Resources. As part of the deal, Barrick will withdraw an existing buyout bid for Lundin Mining (TSX: LUN).

Tata Steel has agreed to sell a 51% stake in Tata Refractories to Krosaki Harima Corp., an affiliate of Nippon Steel. The deal is valued approximately $255 million.

Changyou.com (Nasdaq: CYOU) has agreed to acquire a 68% stake in fellow Chinese online game company Shenzhen 7Road Technology Co. for approximately $68.26 million. The deal also includes a $32.76 million earn-out.

Tenet Healthcare Corp. (NYSE: THC) on Friday rejected a sweetened buyout offer from Community Health Systems, saying the $3.3 billion big "grossly undervalues the company."

***

That's all for now. See you next week. Thoughts or questions, please contact Zoe Zhu.