Harvard Corporate Governance

MARCH 4, 2024

Posted by Martin Gelter, Fordham University, on Monday, March 4, 2024 Editor's Note: Martin Gelter is Professor of Law at Fordham University School of Law. This post is based on his article forthcoming in the Journal of Law, Finance, and Accounting. Related research from the Program on Corporate Governance includes The Elusive Quest for Global Governance Standards (discussed on the Forum here ) by Lucian A.

Banking 133

Banking Finance 133

NYT M&A

MARCH 4, 2024

The plaintiffs, including Parag Agrawal, the former chief executive, are asking for severance after they lost their jobs during Mr. Musk’s 2022 takeover of the company.

Mergers & Acquisitions 145

Mergers & Acquisitions 145

Harvard Corporate Governance

MARCH 4, 2024

The Program on Corporate Governance at Harvard Law School (HLS) is seeking applications from highly qualified candidates who are interested in working with the Program as Post-Doctoral or Doctoral Corporate Governance Fellows. Applications are considered on a rolling basis, and the start date is flexible. Appointments are commonly for one year, but can be extended for additional one-year period/s contingent on business needs and funding.

124

124

NYT M&A

MARCH 4, 2024

JetBlue said it would pay Spirit $69 million to terminate the $3.8 billion deal, which had been blocked by federal antitrust regulators.

Mergers & Acquisitions 137

Mergers & Acquisitions 137

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.

Marketability

Mckinsey and Company

MARCH 4, 2024

The Generative AI revolution will disrupt America’s biggest labor market, but its impact may not be what you expect.

Marketability 143

Marketability 143

ThomsonReuters

MARCH 4, 2024

Preparers have the following perfection periods to correct and retransmit tax returns or extensions that were filed on time but were rejected by the filing deadline. The IRS considers returns that are resubmitted electronically during the applicable timeframe as timely-filed returns. What is the e-file rejection grace period for federal tax returns?

98

98

A Neumann & Associates

MARCH 4, 2024

“By failing to prepare, you are preparing to fail.” – Benjamin Franklin As a business owner, there are many major milestones throughout your history of ownership including buying the business, growing and reaping the financial rewards of satisfying your customers, and ultimately making the decision to sell. However, this final stage requires a new team to successfully navigate a complex process.

Start-ups 78

Start-ups Marketability Business Valuation Banking 78

Mckinsey and Company

MARCH 4, 2024

Board experts explain how directors can meet the demands of growing agendas.

Corporate Finance 140

Corporate Finance Finance 140

Norman Marks

MARCH 4, 2024

Professor Mark Beasley has been a professor for 30 years and is a leader of the North Carolina State University’s Enterprise Risk Management Initiative.

Compliance 85

Compliance 85

Mckinsey and Company

MARCH 4, 2024

The generative AI payoff may only come when companies do deeper organizational surgery on their business.

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111

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

Corporate Finance

Benzinga

MARCH 4, 2024

Security products provider Allegion plc (NYSE: ALLE ) has acquired Dorcas through one of its wholly owned subsidiaries for an unknown sum. Dorcas is a manufacturer of electro-mechanical access control solutions and is based in Siete Aguas, Spain. Dorcas specializes in the production of electric strikes, electro-mechanical and electro-magnetic locks, Full story available on Benzinga.

Equity 69

Equity 69

Farrel Fritz

MARCH 4, 2024

“Under any standard of value, the true economic value of a business enterprise will equal the company’s accounting book value only by coincidence.” says the late business valuation expert and author Shannon Pratt. So why do so many shareholder buy-sell agreements require that the shares be purchased for book value? While I can think of a few likely answers to that question ( e.g. , ease of calculation, agreements modeled on BCL 1510 , and the likelihood that for operating businesses fair value

Book Value 69

Book Value Business Enterprise Business Valuation 69

Benchmark Report

MARCH 4, 2024

As we get into 2024, every business owner should think about ways to create growth, especially if you are considering exiting your business or embarking on retirement. So, let’s look at some things you can do to take your company to the next level.

Technology 64

Technology Marketability 64

Benzinga

MARCH 4, 2024

Renalytix plc (NASDAQ: RNLX ) has received an unsolicited acquisition approach from a large, publicly-listed strategic diagnostics company and is evaluating an acquisition of the entire issued, and to be issued, the share capital of the company. Renalytix is an artificial intelligence-enabled diagnostics company focused on kidney disease. The company’s lead product, KidneyIntelX, is a laboratory-developed test.

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64

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.

Marketability

Appraisers Blog

MARCH 4, 2024

In reply to JohnnyQ. Troll on. How times change. Supervisor trainee flash cards. [link] What should a Trainee Appraiser NOT expect from a Supervisory Appraiser? paid benefits while in the training position The AQB requires the Supervisory Appraiser to inspect properties with the Trainee Appraiser until the Trainee Appraiser is competent to make solo inspections.

Appraisal 58

Appraisal 58

Benzinga

MARCH 4, 2024

Equipment rental company United Rentals, Inc (NYSE: URI ) has entered into a definitive agreement to acquire Yak Access, LLC, Yak Mat, LLC and New South Access & Environmental Solutions, LLC from Platinum Equity for approximately $1.1 billion in cash. Yak is a known player in the North American matting industry, with a fleet of about 600,000 hardwood, softwood, and composite mats.

EBITDA 64

EBITDA Equity 64

Appraisers Blog

MARCH 4, 2024

In reply to JohnnyQ. Yes. Because the lender is putting the consumers well being first. That’s a great lender and a smart decision, not not allow an unlicensed trainee to pretend to be a legitimate appraiser and run the inspection by themselves without a licensed supervisor present.

Appraisal 57

Appraisal 57

Benzinga

MARCH 4, 2024

MingZhu Logistics Holdings Limited (NASDAQ: YGMZ ) has signed a non-binding letter of intent (LOI) to acquire driverless auto technologies and intellectual property (IP) portfolio valued between $80 million and $90 million. The Carbonomi Trust and CYF (BVI) Limited are being identified as the sellers. The logistics provider will conduct further due diligence on the IP portfolio and negotiate a definitive agreement.

Technology 59

Technology Equity 59

Appraisers Blog

MARCH 4, 2024

In reply to Baggins. Thanks, great feedback. When I first came into the business it was not a requirement for a senior appraiser to accompany a trainee. The state or client required it. Mine did not. The senior appraiser checked they did or did not inspect ect. Yes, some senior lied about it and when the stuff hit the fan they paid for it. I know what you mean about shadowing it was a writers slip.

Appraisal 56

Appraisal 56

Benzinga

MARCH 4, 2024

JPMorgan Chase & Co.’s (NYSE: JPM ) wholly-owned subsidiary, Neovest, Inc., disclosed the acquisition of LayerOne Financial to improve its offerings for hedge funds. LayerOne Financial is an investment management platform and creator of PortfolioOne, a vast, cross-asset platform for operational challenges facing hedge funds of many sizes and styles.

Equity 59

Equity 59

Appraisers Blog

MARCH 4, 2024

The industry’s do gooders and subscribers to DEI clamor for more diversity (not that anyone was or is erecting hurdles for any race or ethnicity of people to enter the RE Appraisal field. They also want faster turn times ( even though who hasn’t seen a revision or addenda to a report be requested 2, 3, a month after having rendered the report). On the basis of all this they’ve created PAREA and now a nee endeavor, that of the PDC while, simultaneously, seeing the ranks of appraisers dwindle and

Appraisal 55

Appraisal 55

Benzinga

MARCH 4, 2024

Arkhouse Management Co. LP and Brigade Capital Management, LP have proposed a revised takeover bid for Macy’s Inc (NYSE: M ) for $24.00 per share in cash. The new proposal is being seen as an attempt to persuade the department store chain to reconsider their previous offer. This development follows Macy’s rejection of the initial proposal, citing its inadequacy.

Equity 59

Equity 59

Financial Times M&A

MARCH 4, 2024

Ex-CEO Parag Agrawal among four arguing the billionaire ‘manufactured’ their firings

83

83

Law 360 M&A

MARCH 4, 2024

A New York-based investment adviser will pay a $950,000 civil penalty to the U.S. Securities and Exchange Commission for allegedly failing to timely disclose information about its ownership of commercial rental truck company Ryder System Inc. leading up to a May 2022 takeover offer.

52

52

Financial Times M&A

MARCH 4, 2024

Acquisition might please regulators but would strain jet maker’s liquidity and efficiency measures

75

75

Law 360 M&A

MARCH 4, 2024

Novant Health can't unshield information given to regulators challenging its $320 million merger with two hospitals in North Carolina, a competitor hospital has told a federal court, saying it turned over those sensitive documents believing they would always be kept under wraps.

52

52

Peak Business Valuation

MARCH 4, 2024

Every building has at least four walls and a good plumbing system. Plumbing provides a reliable system for moving water, waste, and gas in a building. Without plumbing, say goodbye to clean water, heating, cooling, and waste removal. Efficient and safe plumbing depends on plumbing machinery and equipment. Plumbing equipment facilitates the installation, maintenance, repair, and operation of plumbing systems.

Appraisal 52

Appraisal Business Valuation Start-ups Fair Market Value 52

Law 360 M&A

MARCH 4, 2024

A stockholder in homebuilder MDC Holdings Inc. accused the Denver-based company of agreeing to a $4.9 billion all-cash acquisition by a Japanese homebuilder only for the benefit of MDC's board.

52

52

Financial Times M&A

MARCH 4, 2024

Insurer buys Probitas for £242mn and gains re-entry to specialist insurance market

Marketability 77

Marketability 77

Law 360 M&A

MARCH 4, 2024

The Federal Energy Regulatory Commission has blocked U.K. asset manager Bridgepoint Group PLC's proposed £835 million ($1.1 billion) purchase of Energy Capital Partners LP, saying the companies haven't shown the merger wouldn't affect competition in U.S. electricity markets.

Marketability 52

Marketability 52

John Jenkins

MARCH 4, 2024

Last week, John blogged about the FTC’s challenge of Kroger’s proposed acquisition of Albertsons — and specifically, the FTC’s criticism of the divestiture plan the parties devised to address antitrust concerns. As John noted, courts are sometimes more sympathetic to these plans.

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53

Law 360 M&A

MARCH 4, 2024

Elon Musk fired four top Twitter executives just minutes after he closed on his deal to buy the company, now called X Corp., to avoid paying them $200 million in severance benefits, they told a California federal court Monday.

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52

Benzinga

MARCH 4, 2024

All three acquisition targets in total would represent nearly 10 million monthly active users (MAUs), over $5M in annual revenue, and over $3M in operating cash flow The purchase agreement for Radio FM representing 4.6 million MAUs, $2.3M in revenue, and $1.4M in operating cash flow has been signed and announced The purchase agreement for target #2 is expected to be signed before the end of Q1 2024 Target #3 remains under non-binding LOI with a binding exclusivity clause giving Auddia the exclus

Finance 49

Finance Technology 49

Law 360 M&A

MARCH 4, 2024

Freshfields Bruckhaus Deringer LLP welcomed two former Latham & Watkins LLP private equity mergers and acquisitions partners to its practice in New York on Monday, coinciding with the firm's strategy of expanding its private capital services globally.

Equity 52

Equity 52