Thu.Jun 27, 2024

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Measure of Leadership: CEOs and Directors on Navigating Change

Harvard Corporate Governance

Posted by Jason Baumgarten, Julie Daum, and George Anderson, Spencer Stuart, on Thursday, June 27, 2024 Editor's Note: Jason Baumgarten is Global Board & CEO Practice Leader, Julie Daum is Board & CEO Practice Co-leader, North America, and George Anderson is Leader, Board Effectiveness Services, North America at Spencer Stuart. This post is based on a Spencer Stuart memorandum by Mr.

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The ups and downs of global productivity

Mckinsey and Company

Labor productivity over the past 25 years has been a success story for some, a tale of stagnation for others. Investments and digital transformation can boost productivity for all economies, McKinsey research shows.

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Trending Sources

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Validating Valuation: How Statistical Learning Can Cabin Expert Discretion in Valuation Disputes

Harvard Corporate Governance

Posted by Andrew Baker (UC Berkeley School of Law), Jonah B. Gelbach (UC Berkeley School of Law), and Eric L. Talley (Columbia Law School), on Thursday, June 27, 2024 Editor's Note: Andrew Baker is an Assistant Professor of Law at UC Berkeley School of Law, Jonah B. Gelbach is a Professor of Law at UC Berkeley School of Law , and Eric L. Talley is Isidor and Seville Sulzbacher Professor of Law at Columbia Law School.

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Nokia To Acquire Infinera: Infinera's Stock Soars

Benzinga

Infinera Corporation (NASDAQ: INFN ) shares are trading higher Thursday after the company announced Nokia Corp (NYSE: NOK ) will acquire the company in a transaction valuing Infinera at $6.65 per share. The Details: The companies announced a definitive agreement under which Nokia will acquire Infinera in a transaction valuing the company at $6.65 per share or an enterprise value of $2.3 billion.

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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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A Survey of Non-Independent Directors at S&P 500 Companies

Harvard Corporate Governance

Posted by Alexander May and Bill Erlain, Jenner & Block LLP, on Thursday, June 27, 2024 Editor's Note: Alexander May is a Partner and Bill Erlain is an Associate at Jenner & Block LLP. This post is based on their Jenner & Block memorandum. Board composition remains a critical issue for public companies as investors and other stakeholders evaluate the skills, qualifications, and background of directors.

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Novo Nordisk Buys 2seventy's Hemophilia A Program, Divestiture Supports Exclusive Focus On Abecma

Benzinga

On Thursday, 2seventy Bio Inc. (NASDAQ: TSVT ) completed the asset purchase agreement with Novo Nordisk A/S (NYSE: NVO ). Under the terms, Novo Nordisk has acquired the Hemophilia A program and rights to 2seventy’s in vivo gene editing technology outside of oncology and gene editing for autologous or allogeneic cell therapies of immune cells for autoimmune disease.

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Live Nation Tries To Push DOJ's Antitrust Suit Out Of NY

Law 360 M&A

Counsel for Live Nation Entertainment and subsidiary Ticketmaster on Thursday told a skeptical Manhattan federal judge that the U.S. Department of Justice's antitrust case belongs in D.C. federal court, where the green light was given for the companies' 2010 merger.

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Comment on Leaving the Appraisal Profession by Baggins

Appraisers Blog

In reply to Eric Kretz. Hands off the gas powered lawn care equipment! Legislators in Denver are fixated on making use of and retail sale of gas powered residential lawn care equipment illegal. Just this last cycle a vote to outlaw sales of them throughout the entire state missed by only a person or two, and it sounds like the effort to prohibit their use will be successful soon in only the Denver areas.

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Unpacking The Circuit Split Over A Federal Atty Fee Rule

Law 360 M&A

Federal circuit courts that have addressed Rule 41(d) of the Federal Rules of Civil Procedure are split as to whether attorney fees are included as part of the costs of a previously dismissed action, so practitioners aiming to recover or avoid fees should tailor arguments to the appropriate court, says Joseph Myles at Finnegan.

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Comment on UWM Underwriters Subsidized by Appraisers by TGL

Appraisers Blog

Dear United Wholesale Mortgage and United Wholesale Mortgage Appraisal Direct, I am writing this open letter to bring to your attention several critical issues that have been raised regarding your practices towards appraisers. It is important that these concerns are addressed promptly and transparently for the betterment of the entire appraisal community and the integrity of your operations. 1.

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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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AbbVie Buys Bowel Disease Biotech Celsius For $250M

Law 360 M&A

Chicago-based pharmaceutical company AbbVie said Thursday it has acquired Celsius Therapeutics Inc., a privately held clinical-stage biotechnology company developing therapies for patients with inflammatory disease, for $250 million.

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Best Practices for Exam Management at Financial Institutions

N Contracts

Examiners don’t like surprises. That’s why proper exam management is critical. When a financial institution is fully prepared for an exam, understands how to engage with examiners, and has plans to follow up on exam findings, it not only makes an examiner’s job easier, it helps your institution avoid unnecessarily stressful exams and unwelcome regulatory findings.

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Comment on UWM Underwriters Subsidized by Appraisers by TGL

Appraisers Blog

UWM will charge a $29 lender QC fee for appraisal orders, which happens to match the average hourly base salary of $29 for their underwriters

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Walgreens shares plummet after weak results and lowered outlook

Financial Times M&A

Profit margins undercut by lower reimbursements for prescription drugs, overstretched customers and a rash of thefts

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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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Comment on UWM Underwriters Subsidized by Appraisers by Spencer Paul

Appraisers Blog

UWM will charge a $29 lender QC fee for appraisal orders, which happens to match the average hourly base salary of $29 for their underwriters

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Benchmark International Successfully Facilitated the Transaction Between Fredericksburg Machine & Steel, LLC and SRF, LLC

Benchmark Report

Benchmark International has successfully facilitated the transaction between Fredericksburg, VA-based Fredericksburg Machine & Steel, LLC dba Viking Steel Fabricators and Norfolk, VA-based SRF, LLC dba Chesapeake Bay Steel, Inc. Founded in 1950, Viking Steel Fabricators has built a solid reputation for specializing in the fabrication and installation of structural and miscellaneous steel, ornamental iron, and custom stairs and handrails.

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Comment on UWM Underwriters Subsidized by Appraisers by Spencer Paul

Appraisers Blog

UWM will charge a $29 lender QC fee for appraisal orders, which happens to match the average hourly base salary of $29 for their underwriters

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Why Bitcoin Mining Stock Griid Infrastructure Shares Are Tumbling Today

Benzinga

Griid Infrastructure Inc. (NASDAQ: GRDI ) shares are trading lower after it inked a definitive merger deal with CleanSpark, Inc. (NASDAQ: CLSK ) for a total enterprise value, including payment and assumption of debt, of $155 million. GRIID Infrastructure, a purpose-built bitcoin mining company founded in 2018, has operated bitcoin mining facilities since 2019.

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Why A Bids-Invited Process Helps to Increase Your Business’ Valuation When It Is Time to Exit Your Business

Benchmark Report

You have decided it is finally time to take the next step in your exit strategy. You are ready to sell your business or seek a growth partner. Whether you are seeking retirement or looking for a strategic partner to assist you with future growth, you will want to get the best offer from a prospective buyer with the best cultural fit. In Benchmark International’s experience, utilizing a bids-invited process can help you to achieve these goals.

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Crescent Energy Among The 'Very Best' E&P Companies, Says Analyst: SilverBow Deal Offers 'Clear Synergies'

Benzinga

Crescent Energy Co (NYSE: CRGY ) inked an agreement to acquire SilverBow Resources Inc (NYSE: SBOW ) for $2.1 billion. While the company has been growing mainly through acquisitions, the purchase of SilverBow Resources "is the most impactful to date," according to KeyBanc Capital Markets. The Crescent Energy Analyst: Tim Rezvan initiated coverage of Crescent Energy with an Overweight rating and price target of $16.

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Sichenzia Ross Guiding Fuel Cell Co. On $130M SPAC Merger

Law 360 M&A

Sichenzia Ross Ference Carmel LLP is advising Infintium Fuel Cell Systems Inc. on a newly inked blank-check company consolidation deal that values the hydrogen fuel cell technology provider at $130 million.

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SM Energy Dives Despite Bullish Uinta Basin Acquisition: Details

Benzinga

SM Energy Company (NYSE: SM ) shares are diving today after the company disclosed an agreement to purchase the Uinta Basin oil and gas assets from entities affiliated with XCL Resources, LLC. for an unadjusted purchase price of $2.55 billion. Simultaneously, Northern Oil and Gas, Inc. (NYSE: NOG ) stated that it would purchase a 20% share of XCL’s oil and gas assets for $510 million, leaving SM Energy with an 80% stake at a net cost of $2.04 billion.

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Honeywell Says Sourcing Co. Backpedaled On Supply Deal

Law 360 M&A

Honeywell has accused a sourcing company of trying to claw its way out of a contract to buy medical-grade gloves by fabricating quality concerns and launching a bogus recall in an allegedly underhanded way to make itself more appealing to potential buyers.

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Why Target Hospitality's Shares Are Surging On Thursday

Benzinga

Shares of accommodations and hospitality services provider Target Hospitality Corp. (NASDAQ: TH ) are trading higher after the company provided a business update and revised its 2024 outlook following the termination of a significant contract. Recently, the U.S. government notified Target Hospitality that the South Texas Family Residential Center (STFRC) contract will end on August 9, 2024.

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Boeing Settles Suit Claiming NC Fund Ransomed Plane Parts

Law 360 M&A

The Boeing Co. and the private investment firm it accused of forcing a new supply contract under false pretenses before raising prices for aircraft parts by more than 300% have agreed to settle their dispute, according to a new notice filed in North Carolina federal court.

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Women's Health-Focused Hologic Has Significant Capacity For Expansion Via M&A, Bullish Analyst Says

Benzinga

Stephens initiated coverage on Hologic Inc (NASDAQ: HOLX ), citing it as a major player in women’s health, known for its consistent revenue growth, strong free cash flow, and attractive profit margins, is well-positioned in the molecular diagnostics sector post-COVID. Stephens analyst writes, “Hologic is a leader in women’s health with a portfolio of products that have become the gold standard for care.

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Free-Speech Orgs Tell DC Circ. TikTok Ban Is Prior Restraint

Law 360 M&A

A collection of free speech and press groups has urged the D.C. Circuit to strike down Congress' TikTok sale-or-ban law, calling the statute a "direct and serious threat" to First Amendment freedoms in an amicus brief.

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CleanSpark Announces GRIID Infrastructure Takeover Deal: Digging Into The Details

Benzinga

CleanSpark Inc (NASDAQ: CLSK ) shares are trading higher Thursday after the company announced plans to acquire GRIID Infrastructure Inc (NASDAQ: GRDI ) in an all-stock transaction. What Happened: CleanSpark has entered into a definitive merger agreement to acquire all the issued and outstanding common stock of GRIID Infrastructure. GRIID operates Bitcoin (CRYPTO: BTC ) mining data centers in various cities and towns throughout Tennessee.

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Deals Rumor Mill: Boeing, Blackstone, Bosch

Law 360 M&A

Boeing offers $4 billion for parts maker Spirit AeroSystems, Blackstone could sell Legence at up to $5 billion value, and Bosch mulls a bid for Whirlpool. Here, Law360 breaks down the notable deal rumors from the past week.

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What's Going On With Vanda Pharmaceuticals Shares Today?

Benzinga

Vanda Pharmaceuticals Inc. (NASDAQ: VNDA ) shares are trading lower after Future Pak withdrew its proposal to purchase the company. “Consistent with the position indicated in its June 13, 2024 letter to Vanda Pharmaceuticals, Future Pak LLC and its affiliates today announced that it is withdrawing its offer to acquire the company, effective immediately, and will focus on other strategic objectives,” according to a statement.

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Colo. AG's Kroger Merger Suit Survives Dismissal Bid

Law 360 M&A

A Colorado state judge has refused to toss a suit challenging Kroger's planned $24 billion purchase of Albertsons, rejecting the grocery chains' arguments that state enforcers are asking for an overly broad, nationwide injunction by seeking to block the deal.

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Conducting a Culture Due Diligence

M&A Leadership Council

Some Actual What-to-Do's By M&A Leadership Council Everyone probably knows that financial, legal, and operational aspects of a business typically receive the most attention during due diligence. However, one equally important but often overlooked element is culture due diligence. Understanding and assessing the culture of the target company is crucial for the long-term success of the acquisition, as this helps identify potential cultural clashes and integration challenges.

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B. Riley-Linked SPAC To Settle Del. Class Action For $8.5M

Law 360 M&A

The co-chairman of B. Riley Financial Inc. and others have agreed to pay $8.5 million to settle a class action in Delaware's Court of Chancery accusing them of making misleading and inadequate disclosures leading up to a $320 million special-purpose acquisition company deal for battery storage venture Eos Energy Storage LLC.

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Business Valuation for Selling an Electrical Company

Peak Business Valuation

Electricians install, repair, and maintain electrical equipment for commercial and residential buildings. As construction activity increases, demand for electricians will likely rise. According to IBIS World , the electrical industry is expected to generate over $250 billion in revenue over the next five years. This is ideal if you own an electrical company.