Term Sheet

The latest on private equity, M&A, deals and movements — from Wall Street to Silicon Valley

M&A

October 19, 2012: 10:13 AM ET

ArcelorMittal is looking to sell a minority stake in its Canadian iron ore business, according to Reuters. RBC Capital Markets and Goldman Sachs are managing the process. www.arcelormittal.com

Archer Daniels Midland (NYSE: ADM) has acquired a 10% stake in Australian grains handler GrainCorp.(ASX: GNC). www.admworld.com

CD Diagnostics Inc., a Wynnewood, Penn.-based developer of immunoassays to detect the causes of joint pain, has acquired an 80% stake in Citrano Medical Laboratories Inc., a Towson, Md.-based provider of clinical laboratory testing to physicians, clinics and long term care facilities.  No financial terms were disclosed. CD Diagnostics has raised more than $5 million in VC funding from BioStar Ventures, Ben Franklin Technology Partners, Lankenau Institute For Medical Research and Vital Financial. www.cddiagnostics.com

OpCapita is considering a sale of British electronics retailer Comet, according to the Financial Times. OpCapita acquired the company earlier this year for just a couple of dollars. www.comet.co.uk

Zayo Group LLC, a Louisville, Colo.-based provider of bandwidth infrastructure and network neutral colocation services, has agreed to acquire First Telecom Services LLC, a provider of bandwidth infrastructure services in the Northeastern and Midwestern U.S. The deal is valued at $110 million. Zayo shareholders include Battery Ventures, Bridgescale Partners, Centennial Ventures, Charlesbank Capital Partners, Columbia Capital, M/C Partners, Morgan Stanley, North Sky Capital and Oak Investment Partners. First Telecom is owned by First Communication Inc., which is a portfolio company of The Gores Group and FirstEnergy Corp. (NYSE: FE). www.zayo.com

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Dan Primack
Dan Primack
Senior Editor, Fortune

Dan Primack joined Fortune.com in September 2010 to cover deals and dealmakers, from Wall Street to Sand Hill Road. Previously, Dan was an editor-at-large with Thomson Reuters, where he launched both peHUB.com and the peHUB Wire email service. In a past journalistic life, Dan ran a community paper in Roxbury, Massachusetts. He currently lives just outside of Boston.

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