Your Securities Digest for November 8, 2016

November 8, 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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Mergers & Acquisitions See all recent M&A >

Target Acquiror Amount Description Filing Date Deal Summary
Brocade Communications Systems, Inc. Broadcom Ltd $5.1 Billion Cross-border cash merger between computer hardware companies. Target will divest IP Networking business but merger is not contingent on divestment. November 2, 2016 Deal Summary
Vornado Realty Trust – Washington DC Assets JBG Companies $2.4 Billion Reverse Morris Trust spin-off/merger of target’s DC assets with acquiror. October 31, 2016 Deal Summary
Team Health Holdings, Inc. Blackstone Group L.P. $3.3 Billion LBO acquisition of physician services organization. Transaction includes 40-day go-shop period. October 31, 2016 Deal Summary


Offering Summaries See all recent Offering Summaries

Issuer Security Amount Description Filing Date Offering Summary
CytomX Therapeutics, Inc. Common Stock $50 Million Shelf offering with alternate prospectus pages for possible controlled equity offering by Cantor Fitzgerald. November 3, 2016 Offering Summary
GDS Holdings Limited American Depositary Shares $192.5 Million Final IPO pricing for Chinese data center operator. Portion of proceeds will be used to pay preferred shares dividends. November 2, 2016 Offering Summary
PPG Industries, Inc. 0.000% Notes EUR 300 Million Final pricing for Euro-denominated debt with an interest rate of 0%. October 28, 2016 Offering Summary


International Prospectuses & 144As See all recent International Prospectuses >

Issuer Security Amount Description Filing Date Filings
Datang Environment Industry Group Co Ltd Shares HKD 2.14 Billion 144A IPO by Chinese environmental protection solutions provider. Proceeds will be used expand desulfurization and denitrification facilities. November 3, 2016 Filings
Zhou Hei Ya International Holdings Company Limited Shares HKD $2.74 Billion IPO for Chinese casual braised food retailer. Proceeds from the 144A offering will be used for development of processing facilities, logistics centers and opening new stores. November 1, 2016 Filings
ConvaTec Group Plc Shares GBP 1.79 Billion 144A Piggyback IPO for UK medical products provider. Proceeds will be used to repay existing indebtedness. October 26, 2016 Filings


SEC Comment Letters See all recent SEC Comment Letters >

Issuer Description Filing Date Documents
Jason Industries, Inc. Issuer agrees to provide greater detail regarding tax reconciliation, identity of significant customers and MD&A disclosure of comprehensive income. October 3, 2016 Documents
General Electric Co. Issuer responds to numerous comments regarding use of non-GAAP financial measures and agrees to implement changes that adhere to SEC’s recently released Compliance & Disclosure Interpretations. September 30, 2016 Documents
Abbott Laboratories Areas reviewed in connection with St. Jude Medical merger include stock ownership of officers and directors, risk factors, financial advisor analyses, tax consequences and various exhibits. September 22, 2016 Documents


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

Issuer Rule Description Filing Date Letters
Hormel Foods Corporation 14a-8(i)(7) SEC is unable to concur that Issuer may omit proposal that all non-binding matters presented by shareholders shall be decided by a simple majority of the votes. October 31, 2016 Letters
Apple Inc. 14a-8(i)(10) SEC is unable to concur that Issuer may omit proposal on amendments to the existing proxy access bylaws. October 27, 2016 Letters