Ryerson Shareholders Approve Buyout

Ryerson Inc. (NYSE: RYI) stockholders have approved a $34.50 per share buyout offer from Platinum Equity. The total deal is valued at approximately $2 billion. Ryerson is a Chicago-based metals processor, and is being advised by UBS. www.ryerson.com

Kellwood Rejects Buyout Offer

Kellwood Co. (NYSE: KWD), a marketer of apparel and consumer soft goods, has rejected a $544 million buyout offer from Sun Capital Partners. The company said that the $21 per share offer would not provide adequate value to stockholders.   “Our Board is committed to enhancing shareholder value,” said Robert C. Skinner Jr., chairman, president […]

Sierra Backs Revionics

Revionics Inc., a Sacramento, Calif.-based provider of price optimization software for retailers, has raised $10 million in Series B funding led by Sierra Ventures. www.revionics.com

SocialMedia Networks Raises Series A

SocialMedia Networks, a Mill Valley, Calif.-based provider of social platform services, has raised $3.5 million in Series A funding. Charles River Ventures led the deal, and was joined by Marc Andreessen and Jeff Clavier. SocialMedia offers a suite of tools and services for developers building applications that run on open social platforms, including Facebook and […]

Sequoia Backs SynapSense

SynapSense Corp., a Folsom, Calif.-based provider of wireless instrumentation solutions, has closed its Series B round with $11 million. The company previously had announced a $10 million close, but now says that Sequoia Capital has joined the round. Other participants include Emerald Technology Ventures, American River Ventures, Nth Power and DFJ Frontier. www.synapsense.com  

Stage1 Hires CFO

Ed Hamilton has joined Stage1 Ventures as chief financial officer. He previously has served as a general partner of Dover Medical Ventures and as CFO of North Bridge Venture Partners. www.stage1ventures.com

Forum Oilfield Files for IPO

Forum Oilfield Technologies Inc., a Houston-based maker of drilling and flow control products for oil and natural gas drilling and production applications, has filed for a $345 million IPO. It plans to trade on the NYSE under ticker symbol FOT, with Credit Suisse and JPMorgan serving as co-lead underwriters. SCF Partners helped form the company […]

Lumber Liquidators Sets IPO Terms

Lumber Liquidators Inc., a Toano, Va.-based direct retailer of hardwood flooring, has set its IPO terms to 11.5 million common shares being offered at between $12 and $14 per share. It plans to trade on the NYSE under ticker symbol LL, with Goldman Sachs and Merrill Lynch serving as co-lead underwriters. TA Associates holds a […]

China Nepstar Files for IPO

China Nepstar Chain Drugstore Ltd., the largest retail drugstore chain in China, has filed for a $250 million IPO. It plans to trade on the NYSE under ticker symbol NPD, with Goldman Sachs (Asia) serving as lead underwriter. Goldman Sachs holds a 30.3% pre-IPO position.

Murdoch Looks Back at MySpace Acquisition

SAN FRANCISCO (AP) – News Corp. Chief Executive Rupert Murdoch said Wednesday he had no idea when he bought online hangout MySpace.com two years ago how explosive social networks would become. Murdoch, a stalwart of traditional media, marveled at the $580 million acquisition and called himself a “trainee” still trying to embrace the Internet during […]

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VCs Like Barack

peHUB recently broke down which presidential candidates were getting the most financial support from the buyout market. Now it’s the venture capitalists’ turn. The clear winner is Barack Obama, who in 2007 has raised $128,208 from 75 different VCs. Running second is Mitt Romney with $94,500 from 51 contributors, while Hillary Clinton ($45,950), Chris Dodd […]

peHUB First Read

Some links to kick off your Thursday: * Congressional Democrats will introduce new legislation to end the use of off-shore tax shelters. Methinks this may affect more than a few peHUB readers. * Is the Japanese leveraged finance market crumbling? * Is the U.S. leveraged finance market rebounding? * What Lindsay Lohan taught Tom Gores. Get your […]

Key Sells Big Rock Stake

Key Principal Partners has sold its investment in Big Rock Sports to senior company executives and Bison Capital Asset Management. Big Rock is a Newport, N.C.-based distributor of hunting, fishing, shooting, marine and camping equipment and supplies. It received $13.1 million in common stock and subordinated debt in 2000 from KPP, as part of a recapitalization […]

Nanosphere Sets IPO Terms

NEW YORK (AP) – Nanosphere Inc., which makes a system for gene and protein testing, said Wednesday it plans to raise about $95 million in an initial public offering of 7 million shares of common stock, according to a regulatory filing. In a filing with the Securities and Exchange Commission, Nanosphere said it expects the […]

Spectrum Equity Buys Ancestry.com

Spectrum Equity Investors has agreed to acquire a majority interest of Generations Network Inc., parent company of a portfolio of websites that include Ancestry.com. The deal is valued at $300 million, and is expected to close later this year. Lehman Brothers is advising Generations Network on the deal. www.spectrumequity.com www.ancestry.com

General Atlantic Offers to Buy Critical Path

General Atlantic has offered to acquire messaging software company Critical Path Inc. (OTC BB: CPTH). General Atlantic already holds a 54.1% stake in Critical Path, which closed trading yesterday at just $0.08 per share. The take-private buyout would value the outstanding shares at $0.102 each. www.generalatlantic.com www.criticalpath.com

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