Fri.Oct 04, 2024

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ESG Shareholder Resolutions

Harvard Corporate Governance

Posted by Lindsey Stewart, Morningstar, Inc., on Friday, October 4, 2024 Editor's Note: Lindsey Stewart is Director of Investment Stewardship Research at Morningstar, Inc. This post is based on a Morningstar memorandum by Mr. Stewart and River Meng. Key Observations Average support for ESG-focused shareholder resolutions in the US stabilized at 23% in the 2024 proxy year, after a steep decline in 2023.

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Beyond 9 to 5: The power of spiritual health in the workplace

Mckinsey and Company

An often neglected concept, spiritual health can have significant knock-on benefits for a person’s well-being, and its importance at work needs to be recognized.

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Weekly Roundup: September 27-October 3, 2024

Harvard Corporate Governance

Posted by the Harvard Law School Forum on Corporate Governance, on Friday, October 4, 2024 Editor's Note: This roundup contains a collection of the posts published on the Forum during the week of September 27-October 3, 2024 Billionaire Superstar: Public Image and Demand for Taxation Posted by Ricardo Perez-Truglia (UCLA) and Jeffrey Yusof (University of Zurich), on Friday, September 27, 2024 Tags: Billionaires , Public Attitudes , Tax Rates , Taxes Doing More, Saying Less: Trends in DE&I Co

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Breaking operational barriers to peak productivity

Mckinsey and Company

Our latest research examines how a new take on operational excellence can help rekindle productivity—and reveals five practices that matter in jump-starting performance.

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How to Leverage Intent Data for Better Outcomes

Speaker: Susan Spencer, Principal of Spencer Communications

Intent signal data can go a long way toward shortening sales cycles and closing more deals. The challenge is deciding which is the best type of intent data to help your company meet its sales and marketing goals. In this webinar, Susan Spencer, fractional CMO and principal of Spencer Communications, will unpack the differences between contact-level and company-level intent signals.

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Comment on New UAD Overhaul: What Appraisers Can Expect in 2025 & Beyond by Koma

Appraisers Blog

In reply to Retired Appraiser. They are fighting to stop automation of their industry. Does that sound familiar? Like I’ve always said, we appraisers are our own worst enemy.

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Portfolio and performance: Priorities for CPG leaders

Mckinsey and Company

The consumer goods industry, once an investor darling, has underperformed in recent years. Companies can prioritize six actions to simultaneously revive revenue growth and reduce costs.

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The Tax Bite: How Increased Capital Gains Taxes Affect Mergers and Acquisitions Deal Value

Sun Acquisitions

In the dynamic world of mergers and acquisitions (M&A), a deal’s tax implications can significantly influence its value and attractiveness. Among the most critical factors to consider is the capital gains tax rate. An increase in capital gains taxes can directly and profoundly impact the valuation of M&A transactions. Understanding Capital Gains Taxes Capital gains taxes are levied on the profit realized from the sale of an asset held for more than one year.

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Restructuring Moves & AUM Aid Invesco, Muted Revenues a Concern

Benzinga

Invesco (NYSE: IVZ ) remains well-positioned for growth on the back of diversified offerings, efforts to enhance operating efficiency and solid assets under management balance. However, a high intangible assets composition on the balance sheet and subdued revenue performance are major headwinds. Invesco's Catalysts Invesco has been recording steady improvement in the AUM balance.

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Comment on New UAD Overhaul: What Appraisers Can Expect in 2025 & Beyond by Retired Appraiser

Appraisers Blog

Dock workers lost 2 days work to reap a 66% pay increase! With rates dropping appraisers have the power to hold the housing market by the throat. The difference between dock workers and appraisers off course being that dock workers have billiards. All I can say is enjoy your delicious dog food…you’ve most certainly earned it.

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Should JPMorgan Stock be Part of Your Portfolio Ahead of Q3 Earnings?

Benzinga

JPMorgan (NYSE: JPM ) is scheduled to kick-start third-quarter 2024 earnings on Oct. 11. The largest American bank's earnings draw a lot of attention because of its presence in almost all the finance sector businesses. This, thus, offers insight into how the quarterly performance of other banks is likely to be. JPMorgan's close peers – Bank of America (NYSE: BAC ) and Citigroup (NYSE: C ) are slated to announce their quarterly numbers on Oct. 15.

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Statement of Cash Flows vs. Cash Flow Statement

Speaker: Wayne Spivak - President and Chief Financial Officer of SBA * Consulting LTD, Industry Writer, and Public Speaker

The old adages that "cash is king" and "you can’t spend profits" still hold true today. But however well-known these sayings might be, it requires a change in mindset to properly implement a cash flow management system that predicts your business's runaway as accurately as possible. Key to this new mindset is understanding the difference between the Statement of Cash Flows, a historical look at the source and uses of cash, and the Cash Flow Statement, which uses transaction history and forward-l

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Comment on New UAD Overhaul: What Appraisers Can Expect in 2025 & Beyond by Bill Johnson

Appraisers Blog

In reply to Retired Appraiser. Appraisers have neve stuck together and will always try and undercut each other. Case in point, United Wholesale Mortgage typically pays $177.90 to do a 1004D (cert of completion) but today I was told they’ve outsourced this process to a company called Valligent. Meaning, the original appraiser will no longer get the follow up assignment, but rather by way of a virtual / hybrid product, Valligent will be assigning to someone on their panel.

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Sanofi Sells Global Rights To Rare Autoimmune Drug Enjaymo For $825M Upfront To Italian Firm Recordati

Benzinga

On Friday, Italian pharma company Recordati S.p.A agreed to acquire the global rights to Enjaymo (sutimlimab) from Sanofi SA (NASDAQ: SNY ) for $825 million as an upfront payment and additional commercial milestone payments of up to $250 million. Enjaymo, a humanized monoclonal antibody, is the only approved targeted product for cold agglutinin disease (CAD), a rare autoimmune disorder characterized by the premature destruction of red blood cells (hemolysis).

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Trout CPA Named One of the Best Places to Work in PA

Trout CPA

Central Penn Business Journal and Lehigh Valley Business have named Trout CPA as one of the Best Places to Work in PA. The awards are held in partnership with Best Companies Group.

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Tempur Sealy, Mattress Firm Sue To Block FTC Merger Case

Law 360 M&A

Tempur Sealy International Inc. and Mattress Firm Group Inc. told a Texas federal court on Friday that the Federal Trade Commission's in-house process violates the Constitution, so the agency's case challenging their planned $4 billion merger should be blocked.

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Mastering Intent Data: Understanding its Importance & Best Practices

Speaker: Joe Apfelbaum, CEO of Ajax Union

In this webinar, Joe Apfelbaum, CEO of Ajax Union and business strategist, will take you through the ABCs of intent data. You'll learn how to effectively use it to drive business results, with practical tips on how to leverage both company and contact intent data to maximize your marketing efforts. Whether you're a seasoned marketer or just getting started, this webinar is a must-attend for anyone looking to stay ahead in the ever-evolving world of digital marketing.

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Chris Mercer to Speak in BVIUK 4th Expert Summit

Auto Dealer Valuation Insights

Christopher Mercer, FASA, CFA, ABAR will be participating in the Business Valuation Institute UK’s 4th Expert Summit webinar on October 17, 2024. Chris will present on “Adapting Buy-Sell Agreements: International Perspectives.” Chris Mercer is the Chairman of Mercer Capital. He began his valuation career in the late 1970s and has testified in five statutory fair value trials in New York.

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MLB's Storied History Runs Through The Bankruptcy Court

Law 360 M&A

With the value of professional sports teams skyrocketing over the last decade, it's hard to imagine a Major League Baseball club having to file for bankruptcy. But it's happened at least five times since 1970 for a variety of reasons, and the teams that have taken advantage of the bankruptcy courts have charted much different paths post-insolvency.

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Mercer Capital to Attend the 2024 NADC Fall Conference

Auto Dealer Valuation Insights

Mercer Capital is attending the 2024 NADC Fall Conference. The conference will be held October 13-15 2024, at the Grand Hyatt in Nashville, Tennessee. David W. R. Harkins, CFA, ABV and Harrison Holt will be representing Mercer Capital’s auto dealer industry team at the conference.

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Judge Says Live Nation Case Runs Deeper Than Merger Pact

Law 360 M&A

In refusing to transfer the government's monopolization case against Live Nation, a New York federal judge said the settlement allowing the company's 2010 merger with Ticketmaster dealt only with potential problems that existed at the time and has no bearing on the new claims.

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Should Appalachian Natural Gas Producers’ Stock Price Resiliency Be Surprising?

Auto Dealer Valuation Insights

In a year where natural gas prices have spent almost the entire year under $3.00 per mcf, including a few months under $2.00, the stock prices of publicly traded Appalachian gas producers have remained remarkably stable. In fact, Antero Resources’ price is up this year and Range Resources is basically flat for the year so far. Others such as EQT and Coterra Energy are down only marginally.

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Robertshaw Closes Ch. 11 Sale Hours Before 5th Circ. Stay

Law 360 M&A

Appliance parts maker Robertshaw sold the business to a group of its lenders this week, less than two hours before the Fifth Circuit entered an order staying the deal, marking a setback for Invesco, another lender that had objected to a Texas bankruptcy court's approval of the Chapter 11 asset sale.

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RIA Market Update: Q3 2024

Auto Dealer Valuation Insights

RIAs outperformed the S&P in the third quarter of 2024, with alternative asset managers experiencing the strongest returns amid multiple expansion. All groups examined experienced growth in AUM and revenue year-over-year. We explore further in our Q3 2024 Market Update.

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Massumi & Consoli Adds Ex-Morgan Lewis Attorney In DC

Law 360 M&A

An attorney with more than two decades of experience representing clients in transactions in the healthcare industry moved her practice this week to Massumi & Consoli's Washington, D.C., office after more than 13 years with Morgan Lewis & Bockius LLP.

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JP Morgan Takes Stake In Australian Casino Operator Star Entertainment: Details

Benzinga

JP Morgan Chase & Co. (NYSE: JPM ) shares are trading higher on Friday. On October 1, 2024, the company became a substantial shareholder in The Star Entertainment Group Limited, acquiring 156.99 million ordinary shares, representing 5.47% voting power. Star Entertainment is an Australian casino operator. The company has been in troubled waters due to liquidity issues, and shares dipped by 66% in 2023, reported Reuters.

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Mental Health First Aid: A Brief Primer For Attorneys

Law 360 M&A

Amid a growing body of research finding that attorneys face higher rates of mental illness than the general population, firms should consider setting up mental health first aid training programs to help lawyers assess mental health challenges in their colleagues and intervene with compassion, say psychologists Shawn Healy and Tracey Meyers.

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AMA: Isabella Lee, founder of Let's Fearlessly Grow

Vested

Isabella Lee shares how Let’s Fearlessly Grow was founded to help companies reach customers and scale with impact. Drawing on her experience building purpose-driven startups, she discusses the challenges of startup growth, and the importance of a strong team, and throws in a few fundraising tips too.

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BREAKING: Repeat Fraudster Guilty Of Scamming Ex-NBA Players

Law 360 M&A

A Manhattan federal jury on Friday convicted a Georgia businessman and recidivist fraudster of conning former NBA players Dwight Howard and Chandler Parsons out of $8 million via the use of forged documents and other lies.

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Quiet Vacationing: A Question of Company Culture

Machen McChesney

FocusPay Solutions provides business clients with the practice of quiet vacationing, also called stealth paid time off.

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SPAC Scraps $238M Merger Plan With Debt Servicer

Law 360 M&A

Special purpose acquisition company Everest Consolidator Acquisition Corp. has canceled its merger plans with consumer debt service Unifund Financial Technologies, saying there were breaches in the merger agreement that made closing impossible.

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Barratt’s £2.5bn takeover of Redrow given go-ahead by UK regulator

The Guardian M&A

CMA accepts undertakings by both housebuilders to address concerns over a potential local competition issue The £2.5bn acquisition by the UK’s biggest housebuilder, Barratt, of its smaller rival Redrow has been given the green light by the UK’s competition watchdog. The Competition and Markets Authority said it had decided to accept undertakings made by the two companies to address its concerns over a potential local competition issue, which means the deal will not be referred for a longer, phas

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Taxation With Representation: Gibson Dunn, Weil, Simpson

Law 360 M&A

In this week's Taxation with Representation, DirectTV buys EchoStar's video business for $10 billion, Marsh McLennan inks a $7.75 billion deal for McGriff Insurance, and PepsiCo closes a $1.2 billion deal to purchase Siete Foods.

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OnKure Announces Closing of Merger with Reneo Pharmaceuticals and Concurrent Private Placement of $65 Million

Benzinga

-- OnKure is focused on advancing a pipeline of candidates targeting oncogenic mutations in phosphoinositide 3-kinase alpha (PI3Kα), initially in breast cancer -- On track to announce early clinical data for its lead program, OKI-219, in Q4-2024 -- Post-transaction cash, cash equivalents, and short-term investments of approximately $139 million expected to provide funding through multiple clinical readouts and runway into Q4-2026 -- Shares to trade on Nasdaq under the new ticker symbol "OKUR" co

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Experian To Acquire Brazil's ClearSale For $350M

Law 360 M&A

Credit ratings agency Experian PLC said Friday that it has agreed to acquire Brazil-based digital fraud prevention company ClearSale SA for 1.90 billion Brazilian real ($350 million) to complement its existing identity and fraud business in the South American country.

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Additional Acceptance Period begins for MiddleGround Capital's Voluntary Public Takeover Offer to shareholders of STEMMER IMAGING AG

Benzinga

Shareholders can tender their shares during the additional acceptance period for EUR 48.00 per share in cash, which represents an attractive premium of approx. 52 percent to the closing price of the STEMMER IMAGING AG share on July 19, 2024. The additional acceptance period starts on October 5, 2024, and will end on October 18, 2024, at 24:00 hours (Frankfurt am Main local time).

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4 Firms Guide On $1.7B Coeur-SilverCrest Metals Merger

Law 360 M&A

Chicago-based Coeur Mining Inc. said Friday it has agreed to buy Canada's SilverCrest Metals Inc. in an all-stock deal worth $1.7 billion, in a deal steered by four law films that will create a global silver mining leader with the addition of SilverCrest's key Mexico assets.

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