Wed.Jun 26, 2024

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DEI Metrics in Executive Compensation

Harvard Corporate Governance

Posted by Umesh Chandra Tiwari, ESGAUGE, on Wednesday, June 26, 2024 Editor's Note: Paul Hodgson is a Senior Advisor at ESG data analytics firm ESGAUGE. This post relates to a report authored by Mr. Hodgson based on data published by The Conference Board and ESGAUGE. June 29th marks the one-year anniversary of the landmark Supreme Court decision in Students for Fair Admissions v.

Equity 252
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LaPorte Named to Top Workplaces List for Fifth Time

LaPorte

LaPorte is proud to announce that the firm has been named to The Times-Picayune ‘Top Workplaces’ list for the fifth time since the award’s inception.… The post LaPorte Named to Top Workplaces List for Fifth Time first appeared on LaPorte.

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SEC Targets AI Washing in Private Capital Markets

Harvard Corporate Governance

Posted by Charu A. Chandrasekhar, Kristin A. Snyder, and Matt Kelly, Debevoise & Plimpton LLP, on Wednesday, June 26, 2024 Editor's Note: Charu Chandrasekhar and Kristin A. Snyder are Partners and Matt Kelly is a Counsel at Debevoise & Plimpton LLP. This post is based on a Debevoise memorandum by Ms. Chandrasekhar, Ms. Snyder, Mr. Kelly, Andrew J.

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High Tide To Buy 'Highly Accretive' Cannabis Store For $438K

Benzinga

High Tide Inc. (NASDAQ: HITI ) will acquire a retail cannabis store in Mississauga, Ontario, currently operating as Cantopia for CA$600,000 ($438,417). Canadian cannabis retailer confirmed Wednesday it has entered into a definitive asset purchase agreement dated June 25, 2024 under which it will acquire Cantopia. The store is located in Mississauga at a bustling retail plaza surrounded by several small businesses.

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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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Publicly Traded Public Benefit Corporations: An Empirical Investigation

Harvard Corporate Governance

Posted by Jens Dammann (University of Texas), on Wednesday, June 26, 2024 Editor's Note: Jens Dammann is the Ben H. and Kitty King Powell Chair in Business and Commercial Law at the University of Texas School of Law. This post is based on his recent article , forthcoming in the Stanford Journal of Law, Business & Finance. Many corporations seek to persuade their investors, customers, and employees that they care not only about profits but also about corporate constituencies such as workers,

Finance 111
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New R&D Tax Credit Reporting Requirements On the Horizon

Gross Mendelsohn

Businesses that capitalize on the popular Research and Development Tax Credit need to be aware of changes in reporting requirements for the 2024 tax year.

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Anaplan CEO: How decision excellence drives enterprise performance

Mckinsey and Company

Charlie Gottdiener discusses the growing importance of enterprise connectedness and the planning software provider’s research quantifying the business value of better decision making.

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Comment on Leaving the Appraisal Profession by Chris

Appraisers Blog

It’s a Great Time to Leave the Appraisal Profession. I can hear the chorus of my fellow appraisers rising up in disagreement with me.

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Private capital in insurance 2.0: Building the flywheel

Mckinsey and Company

The relationship between insurers and private-capital firms has strengthened in recent years as distinctive investment management has become critical to executing the “virtuous flywheel” strategy.

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Is DEI Valuable to Investors?

Reynolds Holding

In recent years, corporate diversity, equity, and inclusion (DEI) initiatives have become a hot topic in boardrooms and beyond. While many companies have embraced these efforts, investors have started to question whether DEI initiatives are truly valuable or merely a costly distraction from core business activities, as Elon Musk argued in several viral social media posts in 2024.

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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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Simply Solventless To Acquire CannMart As It Seeks To Expand Into Hydrocarbon Cannabis Concentrates

Benzinga

Simply Solventless Concentrates Ltd. (TSXV: HASH ) is acquiring Lifeist Wellness Inc.' s (TSXV: LFST ) (FRANKFURT: M5B) (OTC: LFSWF ) subsidiary CannMart Inc. What Happened The Calgary, Alberta-based company said on Wednesday that it has entered into a services agreement regarding the operations of CannMart and a share purchase agreement with Lifeist Wellness Inc. to acquire all of the shares of CannMart.

Finance 65
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Deliveroo shares rise after reported takeover interest from US rival

The Guardian M&A

Potential tie-up with meal-delivery firm Doordash was reportedly discussed but rejected in May Shares in the UK food delivery company Deliveroo have risen after reports that US rival Doordash held takeover talks with the business, with analysts suggesting other bidders could come forward in the coming weeks. The US meal delivery group Doordash flagged an interest in a takeover of Britain’s Deliveroo last month, but talks ended because the two sides could not agree on the value of the deal, Reute

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Sanofi Looks To Sell $20B Icy Hot Division: Likely Bidders Include Advent, PAI Partners, Blackstone, CVC

Benzinga

Sanofi SA (NASDAQ: SNY ) is calling for initial bids for its $20 billion consumer health division. The French pharmaceutical giant is also considering a potential public listing. Potential suitors must submit first-round bids by mid-July, Bloomberg reports. Advent International and France’s PAI Partners both expressed interest in acquiring the division, which includes over-the-counter products such as Phytoxil cough syrups and Icy Hot pain relief gels.

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How private equity shapes the UK

Financial Times M&A

Plus, the M&A market’s budding comeback and ad group WPP turns down KKR’s takeover bid for its PR unit FGS Global

Equity 85
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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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The state of GCC banking: An exceptional operating environment

Mckinsey and Company

Amid a broadly favorable climate for global banking, Gulf Cooperation Council (GCC) banks enjoyed an extraordinarily successful 2023 and are poised for a strong 2024.

Banking 62
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Haleon To Offload Non-Core Nicotine Therapy Business To Dr. Reddy's For Over $600M

Benzinga

On Wednesday, Haleon plc (NYSE: HLN ) agreed to sell its nicotine replacement therapy business outside of the U.S. to Dr. Reddy's Laboratories SA , a wholly owned subsidiary of Dr. Reddy's Laboratories Limited (NYSE: RDY ) for 500 million pounds (around $632 million). The nicotine replacement therapy (NRT) portfolio consists of brands such as Nicotinell, Nicabate, Habitrol, and Thrive, which are available in gum, lozenge, and patch forms across over 30 markets.

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New Minnesota Independent Contractor Law Imposes New Penalties

Redpath

Effective July 1, significant changes are being made to Minnesota’s independent contractor and employment laws. All employers, as well as their owners, are subject to increased penalties for misclassification of employees as independent contractors. In addition, these new changes will significantly impact construction contractors.

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CBRE Group to Merge its Project Management Business

Benzinga

CBRE Group, Inc. (NYSE: CBRE ) recently announced its plan to combine its Project Management business with Turner & Townsend. Subject to satisfaction of regulatory and other customary conditions, as well as completion of required consultations with employee Works Councils in certain jurisdictions, the transaction is expected to close at the end of 2024.

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KKR makes bid to take control of FGS Global from WPP

Financial Times M&A

Private equity group’s recent offer for corporate PR firm was knocked back by WPP for being too low

Equity 85
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Why Is Vista Outdoor Stock Rising Today?

Benzinga

Vista Outdoor Inc. (NYSE: VSTO ) shares are trading higher during the premarket session on Wednesday. MNC Capital Partners, L.P. today announced it has increased its all-cash offer to acquire Vista Outdoor to $42.00 per share, or approximately $3.2 billion, representing over 40% premium to the last closing price prior to MNC’s initial offer. MNC’s revised proposal offers nearly a 25% premium over yesterday’s closing price, according to a press release.

Equity 59
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Freshfields Helps Saint-Gobain Seal $1B Deal For Dubai Biz

Law 360 M&A

Saint-Gobain said Thursday that it will buy Dubai-headquartered Fosroc for $1.025 billion in cash as it looks to boost its worldwide presence in the construction chemicals market.

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DoorDash Reportedly Explored Takeover Of Amazon-Backed Deliveroo, But Talks Stalled Over Valuation

Benzinga

DoorDash Inc. (NYSE: DASH ) reportedly expressed interest in acquiring British food delivery company Deliveroo Plc. (OTC: DROOF ), but discussions stalled due to valuation disagreements. What Happened : DoorDash, a major player in the U.S. food delivery industry, initiated talks with Deliveroo last month, sources familiar with the matter told Reuters.

Equity 59
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Unprofessional behaviors

Norman Marks

I am often annoyed by behavior that some might find acceptable or even normal, but that I see as unprofessional.

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Zurich Insurance Announces $600M Acquisition Of AIG's Global Personal Travel Insurance Business To Bolster US Presence

Benzinga

In a strategic move to bolster its travel insurance arm, Zurich Insurance (OTC: ZURVY ) announced a $600 million deal to acquire the global personal travel insurance and assistance business of American International Group Inc. (NYSE: AIG ). What Happened : The acquisition, which is expected to be finalized by the end of 2024, will see the AIG business integrated with Zurich’s travel insurance provider, Cover-More Group , expanding Zurich’s presence in the U.S., the company said in a

Equity 59
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US drives nascent rebound in global M&A

Financial Times M&A

Uptick in big deals offsets dwindling number of acquisitions

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Investment Bank vs. Business Broker: Which Is Right for Your Business?

Scott Mashuda

Investment Bank vs. Business Broker: Which Should You Choose? When it comes to taking your established business to the next level, enhancing your capabilities, or planning for a successful transition of ownership, selecting the right advisory team is crucial. As an owner-founder or c-level executive running a mature company, understanding the key aspects of the M&A landscape can help you make informed decisions and achieve financial objectives.

Banking 52
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Investor Appeals Chancery Toss Of $2.4B SPAC Deal Suit

Law 360 M&A

A stockholder of the blank-check company that took electric vehicle company Canoo Holdings Ltd. public in March 2021 has appealed to the Delaware Supreme Court the dismissal of his proposed Delaware Court of Chancery class action challenging the $2.4 billion deal.

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US Steel's $3 Billion Mini-Mill Sparks Stock Upgrade: What Investors Need To Know

Benzinga

United States Steel Corporation (NYSE: X ) shares are up on the optimism for its $3 billion Mini-Mill steel mill in Osceola, Arkansas. BMO Capital Markets upgraded U.S. Steel’s stock from Market Perform to Outperform on Wednesday as it expects the $3 billion plant to forge greater profits for the Pittsburgh-based steel maker. “In general, our view remains increased Mini-Mill production should translate to improved through-cycle profitability” and greater sheet forging, analyst

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Olo Moots Investor's Chancery Suit By Axing Free Takeover

Law 360 M&A

Directors of New York-based online food-ordering venture Olo have mooted a proposed class challenge to a company stock buyback program by effectively barring moves that would give the company's top investor majority control of the business, Delaware's chancellor ruled on Monday.

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OV Entertainment Group Acquires Brazilian Studio Kokku Games and Argentinian Studio 3OGS

Benzinga

LONDON, June 26, 2024 (GLOBE NEWSWIRE) -- OV Entertainment Group, a newly formed UK-based global multimedia entertainment company, encompassing games, film/TV, and advertising industries, has finalized two strategic acquisitions in Latin America and Europe. The company has emerged as a significant player in the global cross-media market with its recent purchase of Brazil and Portugal-based Kokku, a leading AAA co-development studio, and 3OGS, a highly experienced tech and tools studio based in A

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Six Flags, Cedar To Close $8B Merger Following DOJ OK

Law 360 M&A

Six Flags Entertainment Corp. and Ohio-based amusement park peer Cedar Fair LP have cleared regulatory scrutiny from the U.S. Department of Justice, paving the way for a July 1 closing of the two companies previously announced blockbuster $8 billion merger.

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Billionaire Agnelli Is Philips' Largest Shareholder Now - What's Going On?

Benzinga

Royal Philips NV (NYSE: PHG ) shares are trading higher on Wednesday. Italy's famous Agnelli family has increased its investment in Philips , showcasing a robust vote of confidence in the Dutch firm known for its medical devices. Through Exor NV , the family's holding company, the Agnellis now controls 17.51% of Philips , enhancing their position as the company's largest shareholder, an increase from 16.1% recorded in May.

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Judge Denies ConvergeOne Lenders' Bid To Halt Ch. 11 Plan

Law 360 M&A

A Texas federal judge has rejected a request by a group of ConvergeOne lenders to stay a bankruptcy court's order approving an equity rights offering included in the information technology company's Chapter 11 plan, ending the spurned lenders' challenge to a deal they claimed ran afoul of bankruptcy rules.

Equity 52
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Home Appliances Giant Whirlpool Stock Is Soaring On Wednesday - Here's Why

Benzinga

Robert Bosch GmbH is reportedly considering a bid for U.S. appliance manufacturer Whirlpool Corp (NYSE: WHR ), according to three individuals familiar with the situation. If successful, this acquisition would enhance Bosch’s presence in the white goods market, Reuters reports. Whirlpool stock soared Wednesday on the news. Also Read: Strategic Divestiture: Whirlpool To Partially Reduce Ownership In Indian Subsidiary In 2024 Bosch has been consulting with potential advisers regarding a possi