Thu.Aug 01, 2024

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Governance of transformation amid an uncertain business climate

Harvard Corporate Governance

Posted by Carey Oven, Annie Adams, and Mauricio Garza Benavides, Deloitte LLP, on Thursday, August 1, 2024 Editor's Note: Carey Oven is a National Managing Partner, and Annie Adams and Mauricio Garza are Managing Directors at Deloitte LLP. This post is based on their Deloitte memorandum. Why it matters It seems an understatement to characterize the current state of global affairs as “volatile.

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Opportunity@Work: Addressing the opportunity gap and improving workforce equity outcomes

Mckinsey and Company

The cofounder and CEO of Opportunity@Work talks about the nonprofit’s mission to broaden equitable access to career opportunities for workers skilled through alternative routes.

Equity 132
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Litigation Risk and Strategic M&A Valuation

Harvard Corporate Governance

Posted by Benjamin Yost (Boston College), on Thursday, August 1, 2024 Editor's Note: Benjamin Yost is an Associate Professor of Accounting at Boston College Carroll School of Management. This post is based on an article forthcoming in the Journal of Accounting & Economics (JAE) by Professor Yost, Professor Claudia Imperatore , Professor Gabriel Pundrich , and Professor Rodrigo Verdi.

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Five differentiators of outperforming family-owned businesses in India

Mckinsey and Company

India has many family-owned businesses, but only a few can boast of sustained success for generations. We explore five points of difference between the best and the rest.

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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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Nasdaq toughens up suspension and delisting process for SPACs

Harvard Corporate Governance

Posted by Cydney Posner, Cooley LLP, on Thursday, August 1, 2024 Editor's Note: Cydney Posner is Special Counsel at Cooley LLP. This post is based on her Cooley memorandum. Nasdaq has just filed a proposal, Notice of Filing and Immediate Effectiveness of Proposed Rule Change to Amend Certain Procedures Related to the Suspension and Delisting of Acquisition Companies , designed to address the suspension and delisting process applicable to Acquisition Companies, companies such as SPACs with busi

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R1 RCM Going Private In $8.9B Deal Steered By 4 Firms

Law 360 M&A

TowerBrook Capital Partners and Clayton Dubilier & Rice have agreed to take R1 RCM Inc. private in a deal that values the healthcare-focused tech provider at about $8.9 billion, the company said in a Thursday announcement.

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Comment on Lack of Fee Transparency: Exposing the AMC Exploitation by Retired Appraiser

Appraisers Blog

Nobody cares what happened to the once incredible appraisal profession; be it government, banks, regulators, Realtors, or homeowners. That does not surprise me. What surprises me is the fact that appraisers never cared what happened to their own careers. Not once over the last 15 years have they seriously discussed a nationwide shutdown or even a class action lawsuit.

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You Need to Act Now on Estate Planning and Transfer of Death Deeds. Here's Why.

Redpath

It's an unthinkable scenario. A property owner passes away and soon after their death a fire destroys their house. Then, the combination of the Transfer on Death Deed (TODD) law and the insurance contract prevent the recovery of any insurance benefits on the loss.

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Amazon Reports $148 Billion in Second Quarter Sales

NYT M&A

The e-commerce giant’s stock dipped about 5 percent in after-hours trading after lower-than-expected guidance.

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Comment on Lack of Fee Transparency: Exposing the AMC Exploitation by Mark Hastert

Appraisers Blog

AMCs exploit consumers' lack of knowledge by charging exorbitant prices for appraisals while concealing the true cost from borrowers.

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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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Closing a Business Involves a Number of Tax Responsibilities.

Machen McChesney

While many facets of the economy have improved this year, the rising cost of living and other economic factors have caused many businesses to close their doors. If this is your situation, we can help you, including taking care of various tax responsibilities.

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Chevron's $53B Hess Deal Faces Uncertainty Amid Exxon And CNOOC Arbitration Claims

Benzinga

Exxon Mobil Corp (NYSE: XOM ) and its partner CNOOC Ltd have filed arbitration claims, asserting their right of first refusal to any sale of Hess Corp ‘s (NYSE: HES ) stake in a Guyana oil-producing joint venture. This move could potentially hinder Chevron Corp ‘s (NYSE: CVX ) proposed $53 billion acquisition of Hess. The arbitration panel is now expected to hear these claims in May 2025, further delaying the deal.

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US probes Nvidia’s acquisition of Israeli AI start-up

Financial Times M&A

Department of Justice has increased scrutiny of the chipmaker’s power in the emerging sector

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The Iberian green industrial opportunity: Biomethane

Mckinsey and Company

Spain has the potential to reach a 20-terawatt hour annual production of biomethane by 2030, to help boost its decarbonization.

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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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TAXES AND TERMS IN A BUSINESS SALE: PRE-SALE (Part 1 of 3)

IBG Business

A wise business seller understands that price is just one of multiple factors that determine, after the dust has settled, the actual value of their deal. In most business sales, it’s natural for the seller to focus on the price as the defining measure of their company’s market value and their satisfaction with the sale. However, obsession with the selling price can obscure other important considerations – the terms and structure of the deal, the resulting tax liability, and the net cash received

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BNP Paribas To Buy Axa's Investment Manager For €5.1B

Law 360 M&A

BNP Paribas SA has said it will buy an investment management subsidiary from French insurer Axa SA for €5.1 billion ($5.5 billion) to create a combined platform with €1.5 trillion of assets under management.

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Optimizing Your Investment Strategy with MT4 Automated Trading: A Financial Analyst’s Guide

Financial Analyst Insider

MT4 is a tried and true platform for developing automated trading strategies. While it can seem overwhelming at first, taking some time to acquaint yourself The post Optimizing Your Investment Strategy with MT4 Automated Trading: A Financial Analyst’s Guide appeared first on Financial Analyst Insider.

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Sidley Launches New San Diego Office With Five Partners

Law 360 M&A

Sidley Austin LLP has opened a new office in San Diego, with five partners specializing in a range of areas including mergers and acquisition, venture capital and global finance, marking the global law firm's fifth office in the Golden State, the firm announced Thursday.

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Senate Slated to Vote on Broad Tax Bill

Redpath

The U.S. Senate will vote on a $78 billion bipartisan tax bill that advanced out of the House earlier this year. However, a final summer recess will require swift movement in the Senate Chamber.

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Latham, Ellenoff Rank Among Top Firms For July IPOs

Law 360 M&A

Latham & Watkins LLP and Ellenoff Grossman Schole LLP were among the leading law firms that steered the most initial public offerings during July, which marked the year's busiest month in terms of IPO proceeds.

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Embracing clarity: Introducing Engagement Manager and Guided Assurance

ThomsonReuters

At Thomson Reuters, we work hard to provide tools that streamline the audit workflow. We know that a constantly changing industry landscape and an ever-evolving regulatory environment can be a day-to-day challenge – making any level of simplification a welcome thing. To that end, we made a significant update to select product names within the Cloud Audit Suite, aimed at enhancing clarity and understanding for our users.

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Citgo Auction Delayed While Special Master Picks Winning Bid

Law 360 M&A

A Delaware federal judge said Thursday he will postpone his selection of a final winner in an auction that will likely change the ownership of Citgo Petroleum Corp.'s state-owned parent company as it faces demands to repay billions of dollars in Venezuelan debt.

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Business Valuation for Buying a Steel Mill

Peak Business Valuation

Are you looking for a lucrative business opportunity? Consider buying a steel mill. IBIS World notes there are less than 500 steel mills throughout the United States. However, these businesses generate over $27 billion in revenue each year. As such, purchasing a steel mill is an enticing opportunity. Before you make a decision, it is important to receive a business valuation for buying a steel mill.

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Kirkland & Ellis Guides Arcosa on $1.2B Stavola Buy

Law 360 M&A

Texas infrastructure products company Arcosa Inc., advised by Kirkland & Ellis LLP, has agreed to buy the family-owned construction materials business of Stavola Holding Corp. for $1.2 billion, moving forward in its "long-term vision" that includes increasing its aggregates presence across the U.S., Arcosa announced Thursday.

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Boubyan Bank: Kuwait’s Partner in Digital Banking

Global Finance

Global Finance: How is digital banking changing Kuwait’s banking market? Abdullah Al Tuwaijri: Digital banking is in Boubyan’s DNA, and it will be central to achieving Kuwait’s goals for economic growth, social development, environmental sustainability, and responsible trade practices in alignment with UN’s Sustainable Development Goals. Among the most important developments introduced by the Central Bank of Kuwait are regulations to foster innovation in financial technologies and services.

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Goodwin Proctor Reps Behrman Unit In $475M Sale To ITT

Law 360 M&A

Private equity firm Behrman Capital, guided by Goodwin Procter LLP, has agreed to sell its portfolio company kSARIA Holdings to global manufacturer ITT Inc. in a $475 million transaction, according to an announcement Thursday.

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What’s a cashless exercise?

Vested

Exercise your share options without breaking the bank. Learn more about cashless exercises for exit-only option schemes. Cashless exercising explained.

Banking 52
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Pioneer Health Approved For $450K To Fund Ch. 11 Sale Plan

Law 360 M&A

Bankrupt clinic operator Pioneer Health Inc. received approval from a Delaware court to borrow $450,000 as it pursues a sale of its assets, but agreed to delay a hearing on a proposed Chapter 11 plan to give the company time to update the filings to reflect its new track.

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BNP Paribas in talks to buy Axa’s asset management arm for €5.1bn

Financial Times M&A

French bank seeks greater scale for its investment business

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EU Approves $18B Grain Deal With Asset Sales

Law 360 M&A

European enforcers on Thursday approved grain and seed supplier Bunge Ltd.'s plan to buy global grain trader Viterra Ltd. in an $18 billion deal, conditioned on the sale of Viterra's oilseed businesses in Hungary and Poland.

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The Impact of the Global Financial Crisis on Board Gender Diversity

Reynolds Holding

The 2008-2009 global financial crisis (GFC) has cast a pall over several corporate governance mechanisms in many firms worldwide. Nonetheless, how the firms treated their female directors in the aftermath and whether they maintained gender diversity on their boards remain mostly unknown and unexplored. A large body of research suggests that female directors not only improve the quality of corporate governance but also, under certain conditions, help boost a firm’s financial performance.

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Skadden Names Shareholder Engagement and Activism Head

Law 360 M&A

Skadden tapped seasoned transactional attorney Elizabeth Gonzalez-Sussman to lead the firm’s shareholder engagement and activism practice as more clients seek help navigating investor demands.

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SPZI: Bloxcross and JP3E Announce the Global Trade Financing Platform Is Live

Benzinga

NEW YORK, Aug. 01, 2024 (GLOBE NEWSWIRE) -- JP 3E Holdings, Inc. (OTC: SPZI ), formerly Spooz, Inc., recently acquired a majority stake in Bloxcross, Inc. In the wake of this significant acquisition, they announce the launch of a new Global Trade Financing Platform, positioning Bloxcross as a key element of the JP3E portfolio. We expect that the Global Trade Financing Platform will make a substantial contribution to the revenue of both JP 3E Holdings and Bloxcross by executing existing commodity

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Duane Morris Seeks $3.25M Fee For Pirate Treasure Win

Law 360 M&A

Duane Morris LLP attorneys who recently won a Delaware Court of Chancery order unwinding a merger that set up unfair terms for distributions from a sunken pirate ship salvage venture potentially worth $200 million to $1 billion have asked for a $3.25 million fee for their five-year effort.

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