Your Securities Digest for August 30, 2016

August 30, 2016

SECurities Digest NewsletterStay connected to the top weekly transactions with the SECurities Digest Newsletter from Business Law Center on Westlaw. With Business Law Center, you’ll get the deal and SEC filing highlights you need delivered right to your inbox.

See below for featured transactions in each of the following categories:

  • Mergers & Acquisitions
  • Offering Summaries
  • No-Action Letters
  • SEC Comment Letters
  • International Prospectuses & 144As

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THIS WEEK’S FEATURED TRANSACTIONS:

Mergers & Acquisitions See all recent M&A >

Target Acquiror Amount Description Filing Date Deal Summary
Medivation Inc Pfizer Inc $14.1 billion White Knight cash tender offer for previous Sanofi SA target. August 22, 2016 Deal Summary
CST Brands Inc Alimentation Couche-Tard Inc $3.7 billion Cash merger with Canadian acquirer. Acquirer agrees to sell target’s Canadian assets to third party following merger. August 22, 2016 Deal Summary
AEP Industries Inc Berry Plastics Group Inc $566 million Cash/Stock election merger with considerations subject to proration. August 25, 2016 Deal Summary

 

Offering Summaries See all recent Offering Summaries>

Issuer Security Amount Description Filing Date Offering Summary
Novan, Inc. Common Stock $60 million IPO for pharmaceutical company with proceeds being used to fund development and expand clinical trials. August 24, 2016 Offering Summary
FB Financial Corp Common Stock $115 million Piggyback IPO for Tennessee bank holding company. Proceeds will be used to fund a cash distribution to issuer’s sole shareholder. August 19, 2016 Offering Summary
Trade Desk, Inc. Class A Common Stock $86.25 million IPO for ad buyer technology platform provider. Class A shares will entitled to one voter per share while insider’s Class B shares will be entitled to ten votes per share. August 22, 2016 Offering Summary

 

International Prospectuses & 144As See all recent International Prospectuses >

Issuer Security Amount Description Filing Date Filings
AGV Group Limited Ordinary Shares S$4,800,000 IPO for Singapore hot dip galvanizing services provider. Majority of proceeds will be used to fund expansion and acquisitions. August 18, 2016 Filings
Eutelsat Communications SA 1.125% Bonds EUR500 million Regulation S debt offering with proceeds to be used for outstanding debt redemption by private fixed satellite operator. June 21, 2016 Filings
Pernod Ricard SA 3.25% Notes $600 million 144A debt offering for French wine and spirits producer. Proceeds will be used for general corporate purposes. June 1, 2016 Filings

 

SEC Comment Letters See all recent SEC Comment Letters >

Issuer Description Filing Date Documents
Nasdaq, Inc. Issuer replies to SEC comments concerning unrecognized deferred tax liability on unremitted earnings by declaring intent to reinvest them indefinitely thereby never accruing a deferred tax liability. July 6, 2016 Documents
State Bank Financial Corporation In response to SEC comments, issuer agrees to no longer exclude merger-related expenses and severance costs in their non-GAAP adjustments in future filings. July 21, 2016 Documents
Tyco International plc Issuer responds to numerous comments concerning income taxes and agrees to present its income tax rate reconciliation to the statutory tax rate of its country of domicile rather than the notional U.S. statutory rate in future filings. April 21, 2016 Documents

 

No-Action Letters See all recent No-Action Letters >

Issuer Rule Description Filing Date Letters
The Procter & Gamble Company 14a-8(i)(3), 14a-8(i)(7) SEC is unable to concur that issuer may omit proposal to issue a report concerning enacted or proposed state policies supporting discrimination against LGBT people and how they affect issuer. August 16, 2016 Letters
Oracle Corporation 14a-8(i)(10) SEC agrees that issuer may omit “Proxy Access” proposal. August 11, 2016 Letters
WD-40 Company 14a-8(i)(10) Issuer seeks approval to omit “Proxy Access” proposal. August 4, 2016 Letters