Admit it. You figured the odds of trade war with Canada were akin to your kid's school musical winning a Tony award.
• Breaking: Workday (Nasdaq: WDAY) has agreed to buy Adaptive Insights, a Palo Alto-based maker of cloud-based financial management software that had been planning to go public this week.
• Situational awareness: Tomorrow we expect to get a judge's ruling on AT&T's proposed acquisition of Time Warner, which is opposed by the U.S. Justice Dept. Here's a refresher.
• On deck: DraftKings is said to be speaking with investors about raising another $150 million to $200 million in funding, in order to better build out its sports wagering business. The Boston-based company recently partnered with Resorts Atlantic City to offer betting in New Jersey, and expects that it will have the required licenses by the start of NFL season.
• Sidewalk wars: Last week we scooped that GV is leading a $250 million investment in e-scooter and e-bike sharing company Lime. Now we have some more details:
• Jessica Alba's Honest Company last week announced $200 million in minority equity funding from L Catterton. Now there's a Delaware filing (per Lagniappe Labs) for $50 million in new Series F shares, suggesting a large secondary tranche, at a flat valuation to last year's Series E round (which was at a decreased valuation from the mid-2015 Series D, making it an under-corn).
KKR has agreed to acquire physician staffing and services company Envision Healthcare (NYSE: EVHC) for approximately $9.9 billion (including $4.33b in assumed debt), or $46 per share in cash.
• Byton, an electric car startup, raised $500 million from a group of backers that includes Chinese battery maker CATL. http://axios.link/qc2V
• Gett, a New York-based ride-hail company, raised $80 million in new funding at around a $1.4 billion post-money valuation, led by existing backer Volkswagen. http://axios.link/NlVu
• BlueVine, a Palo Alto-based provider of invoice factoring and small business lines of credit, raised $60 million in Series E funding led by Menlo Ventures. http://axios.link/mshI
• Aye Finance, a provider of micro-loans to small businesses in India, raised $21.5 million in Series C funding. CapitalG led, and was joined by return backers SAIF Partners and LGT. http://axios.link/HH8t
• Bedrock Analytics, an Oakland-based analytics and insights automation platform for the consumer packaged goods market, raised $7.2 million in funding co-led by Cervin Ventures and Illuminate Ventures. www.bedrockanalytics.com
• WhyHotel, a Baltimore-based pop-up hotel startup, raised nearly $4 million in seed funding led by Camber Creek. http://axios.link/ZsOt
• Eon Foundation, a blockchain game publishing startup, raised $5 million in funding led by Cherubic Ventures. http://axios.link/XznL
• Apollo Global Management and Starboard Restructuring Partners have offered to invest around $131 million in convertible notes for Brazilian appliance retailer Maquina de Vendas, per Reuters. http://axios.link/Ct9W
• BCA Marketplace (LSE: BCA), a British used car auctioneer operating under the WeBuyAnyCar brand, said it has rejected a 1.6 billion takeover offer from Apax Partners. The 200 pence per share bid represented a 5.2% discount to Friday’s closing stock price. http://axios.link/y7df
• ITRenew, a Newark, Calif.-based portfolio company of Zelnick Media Capital, has acquired Splitted-Desktop Systems, a French design and engineering firm focused on open hardware compute and storage systems. www.itrenew.com
• 6 companies expect to price IPOs on U.S. exchanges this week: Avalara, Charah Solutions, Puxin, U.S. Express Enterprises, Verrica Pharmaceuticals and Far Point Acquisition (the SPAC led by ex-NYSE prez Tom Farley, which recently upsized to $500m). http://axios.link/ZF4E
🚑 Autolus Therapeutics, a British immune-oncology company, set IPO terms to 7.8 million shares at $15-$17. It would have a fully diluted market value of $620 million, were it to price in the middle. The pre-revenue company plans to trade on the Nasdaq (AUTL), with Goldman Sachs as lead underwriter. Shareholders include Syncona (40.6% pre-IPO stake), Woodford Investment Management (26.4%) and Arix Bioscience (9.1%). www.autolus.com
🚑 Kezar Life Sciences, a San Francisco-based developer of drugs to treat autoimmune diseases, set IPO terms to 4.7 million shares at $14-$16. It would have a fully diluted market value of $295 million, were it to price in the middle. The pre-revenue company plans to trade on the Nasdaq (KZR) with Jefferies as lead underwriter. It has raised around $78 million from firms Cormorant Asset Management and Morningside Ventures (15.5% pre-IPO stake), Cormorant (9.9%), Cowen Healthcare (7.6%), EcoR1 Capital (5.5%) and Omega Funds (5.2%). www.kezarlifesciences.com
🚑 Magenta Therapeutics, a Cambridge, Mass.-based developer of bone marrow transplant therapeutics, set IPO terms to 6.7 million shares at $14-$16. It would have a fully diluted market value of $538 million, were it to price in the middle. The pre-revenue company plans to trade on the Nasdaq (MGTA) with J.P. Morgan as lead underwriter. It around $150 million from firms like Third Rock (28.91% pre-IPO stake), Atlas Venture (17.48%), GV (12.05%) and Casdin Capital (5.9%). www.magentatx.com
• Mercari, a Japanese marketplace app for secondary goods, priced its IPO at the top of its indicative range, meaning it would raise around $1.19 billion at a $3.7 billion valuation. It plans to begin trading in Tokyo next week. The company has raised over $160 million from firms like East Ventures, Global Brain, ITOCHU, Mitsui & Co. and World Innovation Lab. http://axios.link/D4z3
• Xiaomi, the Chinese consumer electronics giant prepping for an IPO, disclosed a $1.1 billion loss on revenue of $5.4 billion for 2018 Q1 because of one-time accounting charges. Excluding those charges, it reported $265 million in profit. http://axios.link/pUON
🚑 Mars Petcare has agreed to acquire AniCura, an operator of 200 animal hospitals in Europe, from Nordic Capital and Fidelio Capital. http://axios.link/CQBa
• Splunk (Nasdaq: SPLK) is acquiring VictorOps, a Boulder, Colo.-based incident management and IT alerting platform, for $120 million. VictorOps had raised around $36 million in VC funding from firms like Foundry Group, Costanoa VC and Shea Ventures. http://axios.link/QZ9A
• Uber is considering a takeover offer for Motivate, the bike-share company behind such programs as CitiBike in New York and Ford GoBike in San Francisco, Axios first reported on Friday. http://axios.link/0HZc
• Workday (Nasdaq: WDAY) is acquiring Rallyteam, a San Francisco-based talent development platform that last year raaised $8.6 million in Series A funding from Norwest Venture Partners, Storm Ventures, Cornerstone OnDemand and Wilson Sonsini Goodrich & Rosati. http://axios.link/ToPe
• Mark Garrett, former EVP and CFO of Adobe Systems, has joined General Atlantic as a special advisor. www.generalatlantic.com
• RBC fired Blair Fleming, head of U.S. investment banking and capital markets, for failing to disclose a workplace relationship, per the FT. http://axios.link/qQbn
• Greg Rosen, a former principal at BoxGroup, is joining venture firm Benchmark as a principal, effective in August.