Fri.Sep 06, 2024

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DExit Drivers: Is Delaware’s Dominance Threatened?

Harvard Corporate Governance

Posted by Stephen M. Bainbridge (UCLA), on Friday, September 6, 2024 Editor's Note: Stephen M. Bainbridge is the William D. Warren Distinguished Professor of Law at UCLA School of Law. This post is based on his article forthcoming in the Journal of Corporation Law, and is part of the Delaware law series ; links to other posts in the series are available here.

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NFL Opens the 2024 Season and the Door to Private Equity

Value Scope

By: Brent Shockley, CFA The 2024 NFL season kicked off Thursday night with a late touchdown overturned by replay to preserve a victory by the defending Super Bowl champion, Kansas City Chiefs, over the Baltimore Ravens. The second game of the NFL season will take place this evening in Sao Paulo, Brazil between the Green Bay Packers and the Philadelphia Eagles.

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Weekly Roundup: August 30-September 5, 2024

Harvard Corporate Governance

Posted by the Harvard Law School Forum on Corporate Governance, on Friday, September 6, 2024 Editor's Note: This roundup contains a collection of the posts published on the Forum during the week of August 30-September 5, 2024 Misalignment Under the Radar: Stealth Dual-Class Stock Posted by James Crowe, Council of Institutional Investors, on Friday, August 30, 2024 Tags: Board of Directors , Dual-class stock , IPOs , Voting Rights The tech-forward boardroom: Fostering richer boardroom conversatio

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Intel Eyes Mobileye Stake Sale Amid Pressure, Stock Slides

Benzinga

Mobileye Global Inc (NASDAQ: MBLY ) stock is trading lower Friday amid reports that Intel Corp (NASDAQ: INTC ) is eying a strategic stake sale of the Israeli autonomous driving company. Intel could sell up to 88% of its stake in Mobileye, Bloomberg cites familiar sources. The company will decide this at Mobileye’s September board meeting in New York.

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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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Going all in: Why employee ‘will’ can make or break transformations

Mckinsey and Company

Tapping the organization’s collective energy to implement change is crucial for transformation success. A three-step process creates the momentum to meet the challenges ahead.

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Comment on Appraisal Regulation Compliance Council Exposes Disturbing AMC Violations by Kevin

Appraisers Blog

In reply to Baggins. Someone needs to get on that call and ask class appraisal. Why the hell they’ve been taking so much of the appraiser fees and trying to offer us so little watch the pin drop in the room and the deer and the headlights look.

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Comment on Appraisal Regulation Compliance Council Exposes Disturbing AMC Violations by Baggins

Appraisers Blog

In reply to Paco Murray. Earlier this year, Class amc was involved with the local MLS in Denver Colorado. / Image. REcolorado is looking forward to collaborating with appraisers in 2024 with our quarterly appraiser meetings! For the first quarter, we will have a guest speaker from Class Valuation, Scot Rose. Scot will be addressing the future of appraisal modernization and how valuation technology will revolutionize how data driven decisions are made to the benefit of all parties to the real est

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Owner of 7-Eleven rejects $39bn takeover offer from Canadian rival

The Guardian M&A

Japanese group says Couche-Tard plan undervalues firm, but leaves door open to higher offer Business live – latest updates The parent company of the global convenience store chain 7-Eleven has rejected a near $39bn (£29.6bn) takeover offer from a Canadian rival, arguing it “grossly undervalues” the company. Last month, Tokyo-based Seven & i revealed that it had received a bid from Alimentation Couche-Tard setting the scene for what could be Japan’s biggest ever foreign takeover.

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Comment on Appraisal Regulation Compliance Council Exposes Disturbing AMC Violations by Paco Murray

Appraisers Blog

Having done many appraisals for Class Appraisal in the past, they suddenly turned off the faucet with no communication whatsoever. After reading these articles above and seeing the many posts from appraisers, I’m kind of glad Class disappeared from my radar. I do not want to work for crooks.

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Poppy Gustafsson to leave Darktrace after sale to US private equity firm

The Guardian M&A

Co-founder of British cybersecurity company says ‘now is the right time to hand over the reins’, to Jill Popelka Poppy Gustafsson, the co-founder and chief executive of the British cybersecurity firm Darktrace, is to leave the company after its $5.3bn (£4.2bn) sale to the US private equity business Thoma Bravo. Gustafsson, one of the most well-known figures in the UK tech industry , founded Darktrace in Cambridge in 2013 with backing from the late billionaire Mike Lynch’s Invoke Capital.

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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 AMCs Violating TILA and C&R Fee Clauses by Donna P Taylor

Appraisers Blog

The damage caused by Appraisal Management Companies violating TILA & the Customary & Reasonable fee clauses goes beyond just financial losses.

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Williams to Boost Natural Gas Capacity With 12 New Projects

Benzinga

The Williams Companies, Inc. (NYSE: WMB ) is on an ambitious path to expand its natural gas infrastructure with the addition of 12 projects representing approximately 4.2 billion cubic feet per day (bcfd) of capacity from 2024 to 2027. This announcement was made by CEO Alan Armstrong at the Barclays CEO Energy-Power Conference on Wednesday, according to Reuters.

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Comment on Appraisal Regulation Compliance Council Exposes Disturbing AMC Violations by Pat Turner

Appraisers Blog

According to the Appraisal Regulation Compliance Council, the median average AMC fee charged to borrowers was 65% of the appraisal fee.

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Paramount To Be Controlled By World's Sixth-Richest Man Larry Ellison: How Helping His Son Landed A Media Stake

Benzinga

Billionaire Larry Ellison will own a controlling interest in Paramount Global (NASDAQ: PARA )(NASDAQ: PARAA ) once the merger with Skydance Media finalizes in 2025. What Happened: Ellison, one of the world's richest people, will be the majority shareholder of National Amusements, the company that has controlling ownership of Paramount Global. As reported by Variety , Ellison will own 77.5% of National Amusements, the company that controls Paramount.

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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 Appraisal Regulation Compliance Council Exposes Disturbing AMC Violations by Pat Turner

Appraisers Blog

According to the Appraisal Regulation Compliance Council, the median average AMC fee charged to borrowers was 65% of the appraisal fee.

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AstraZeneca Unit Owes $130M In Chancery Scuttled-Drug Suit

Law 360 M&A

The Delaware Chancery Court on Thursday awarded $130 million to former shareholders of biopharmaceutical company Syntimmune in their breach of contract fight against AstraZeneca PLC unit Alexion Pharmaceuticals Inc., finding that Alexion failed to make promised payments after it acquired Syntimmune in 2018 and breached key terms of their merger agreement.

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Comment on Stoked by HUD, Cottage Industry Shakes Down Mom-and-Pop Appraisers by Mary Cummins

Appraisers Blog

Government: Appraisers must be independent and appraise for market value based on data and facts. Government: If the appraiser doesn’t appraise for the value wanted by the borrower, we will investigate you, you will be sued by HUD grant recipients, your reputation will be destroyed in the media and you won’t get any more work or income.

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Earthlink Investors Accept $85M Deal To End Merger Suit

Law 360 M&A

Earthlink investors who say they were duped into approving a $1.1 billion merger with failing telecommunications company Windstream Holdings Inc. told an Arkansas federal judge Friday that they've reached an $85 million deal to end the lawsuit two months before the case was scheduled to go to trial.

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Comment on Stoked by HUD, Cottage Industry Shakes Down Mom-and-Pop Appraisers by Pray Hard

Appraisers Blog

There’s a particular AMC in Texas that sends me “bids” I don’t make bids any longer on properties with sale prices that are not supported by at least two comparables (not just sales) within the subject subdivision and there are no sales or listings that negate the applicability or validity of those two comparables. The other part of this is that they extremely rarely send a bid where the sale price isn’t the highest price in the entire subdivision, sometimes in an e

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EU Antitrust Chief Charts Path Forward After Illumina Setback

Law 360 M&A

The European Union's top antitrust official said a recent ruling that found enforcers lacked authority to probe Illumina's $8 billion acquisition of Grail put an end to an important merger review tool and suggested legislation may be needed to plug the gap.

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Comment on Stoked by HUD, Cottage Industry Shakes Down Mom-and-Pop Appraisers by Deborah L Smith

Appraisers Blog

I would like to know what connection the Heritage Foundation has to do with the war on appraisers. They want to replace all existing “experts” in the 2025 proposals… any ideas?

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Ingersoll Rand Blocks Rival From Hiring Ex-Exec In NDA Fight

Law 360 M&A

A Colorado state court has preliminarily blocked the former chief executive of a company acquired by industrial products giant Ingersoll Rand Inc. from working for rival Avantor, finding Ingersoll Rand will likely win its claims that the executive specifically agreed not to work for Avantor as a condition of the acquisition.

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Comment on Stoked by HUD, Cottage Industry Shakes Down Mom-and-Pop Appraisers by Chase Pursley

Appraisers Blog

The harassment campaign aims to accelerate loan approvals, circumventing the appraisal process, which they view as an unnecessary obstacle.

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August 2024 SAAR

Auto Dealer Valuation Insights

The August 2024 SAAR came in at 15.1 million units, notably 4.5% lower than last month. In fact, this month’s SAAR is even lower than June, which was negatively impacted by the CDK cybersecurity attack. We believe consumers are likely finally feeling the pain of a softer labor market, as indicated by the July 2024 Jobs Report from the Bureau of Labor Statistics.

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Comment on Stoked by HUD, Cottage Industry Shakes Down Mom-and-Pop Appraisers by Frustrated Appraiser

Appraisers Blog

The harassment campaign aims to accelerate loan approvals, circumventing the appraisal process, which they view as an unnecessary obstacle.

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Renewable Energy Biz Goes Public Via $386M SPAC Merger

Law 360 M&A

Renewable energy company EEW Renewables Ltd., advised by Seward & Kissel LLP, on Friday announced plans to go public by merging with Ellenoff Grossman & Schole LLP-led special purpose acquisition company Compas Digital Acquisition Corp. in a deal with a pro forma combined enterprise value of $386 million.

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Comment on Stoked by HUD, Cottage Industry Shakes Down Mom-and-Pop Appraisers by Pat Turner

Appraisers Blog

The harassment campaign aims to accelerate loan approvals, circumventing the appraisal process, which they view as an unnecessary obstacle.

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Tighter User Touch Points: Q&A With Bank Of Georgia’s Levan Gomshiashvili

Global Finance

Levan Gomshiashvili, chief Marketing and Digital officer at Bank of Georgia, explains the importance of technology and partners in providing exceptional user experience. Global Finance: What steps have you taken to create a seamless and intuitive digital banking experience? Levan Gomshiashvili: Creating a seamless digital banking experience is all about putting the customer first.

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Taxation With Representation: Debevoise, Bennett, Orrick

Law 360 M&A

In this week's Taxation With Representation, Verizon reaches a deal to absorb Frontier in a deal worth $20 billion, First Majestic agrees to buy Gatos Silver for $970 million, and Epam Systems inks a $630 million purchase of Neoris.

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The Emotional Side of Selling Your Business

Midstreet Blog

It’s Not Just a Business—It’s Your Life’s Work Over the years, I’ve spoken with countless business owners about their plans to sell. Most of the time, the focus starts with the financials—how much they’ll get, the terms, the closing. But the truth is, it’s rarely just about the money. We’ve often seen that selling a business stirs up deeper emotions, whether it’s about the relationships built over decades or the legacy you’re leaving behind.

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7-Eleven Parent Rejects Nearly $40B Buyout Offer

Law 360 M&A

The Tokyo-based parent company of convenience store chain 7-Eleven has turned down a nearly $40 billion nonbinding buyout offer from Couche Tard, nudging the Canadian convenience store owner in a Friday letter to offer something better, and stating that the bid undervalues the business and fails to acknowledge regulatory concerns.

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World’s Best Digital Banks 2024—Round 1

Global Finance

Changing customer expectations and the need to maintain a competitive edge continue to drive digital banking as both consumer and corporate banks rush to provide customer convenience, personalized services, and speed. Digital transformation in the banking sector has moved from simply updating outdated systems to becoming a key strategy for boosting profitability.

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EU Gears Up For New Commission With A Plea: More Women

Law 360 M&A

European Commission President Ursula von der Leyen is gearing up to distribute the top jobs in foreign trade, economics and antitrust among the new commissioners for their five-year mandate, but she is pressing countries in the bloc to nominate more female candidates.

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Mineral Aggregator Valuation Multiples Study Released

Auto Dealer Valuation Insights

Mercer Capital has its finger on the pulse of the minerals market. An important trend has been the rise of mineral aggregators, which have largely supplanted trusts as the primary method of publicly traded minerals ownership.