Wed.Jul 03, 2024

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The Board’s Role in AI and Sustainability

Harvard Corporate Governance

Posted by Kurt Harrison, Laura Mantoura, and Emily Meneer, Russell Reynolds Associates, on Wednesday, July 3, 2024 Editor's Note: Kurt Harrison is Co-Head of the Global Sustainability Practice, Laura Mantoura is Board Member and CEO Advisory Practice, and Emily Meneer is Leader of Sustainability Knowledge team at Russell Reynolds Associates. This post is based on their Russell Reynolds memorandum.

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Saks Acquires Neiman Marcus

NYT M&A

The deal, a vote in favor of the future of brick-and-mortar retail on the high end, could reshape the retail landscape.

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Caremark Developments: Business Risk Versus Massey Claims

Harvard Corporate Governance

Posted by Sarah Runnells Martin and Dakota B. Eckenrode, Skadden, Arps, Slate, Meagher & Flom LLP, on Wednesday, July 3, 2024 Editor's Note: Sarah Runnells Martin is Counsel and Dakota B. Eckenrode is an Associate at Skadden, Arps, Slate, Meagher & Flom LLP. This post is based on their Skadden memorandum, and is part of the Delaware law series ; links to other posts in the series are available here.

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What does the future hold for India?

Mckinsey and Company

This may be India’s century. We look ahead at seven trends likely to shape the country for years to come—and help it achieve its development goals.

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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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Moelis, § 122(18), and Remedies in Contractual Breaches Prompted by Fiduciary Duty

Harvard Corporate Governance

Posted by Jim An (Stanford Law School), on Wednesday, July 3, 2024 Editor's Note: Jim An is a Teaching Fellow and Lecturer in Law at Stanford Law School. Last week, the Delaware General Assembly passed S.B. 313 , overturning West Palm Beach Firefighters’ Pension Fund v. Moelis. Upon Governor Carney’s signature, S.B. 313 will amend the DGCL by adding § 122(18) and enable corporations to enter so-called shareholder agreements, colloquially called side letters, even to the extent that such agreeme

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Appraiser Newsroom - Untitled Article

Appraiser Newsroom

By Mike Pratt ASA, IFA, Chair, RP-NAIFA Discipline Committee Editor’s Note: In today’s rapidly evolving real estate landscape, the importance of staying informed and connected within the appraisal industry has never been greater. ASA stands as a valuable partner for appraisers, offering a wealth of resources and support to navigate these changes.

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More Trending

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Desktop Metal Sold! Nano Dimension Swoops In All-Cash Offer

Benzinga

Desktop Metal, Inc. (NYSE: DM ) shares are trading higher after it inked a definitive deal with Nano Dimension Ltd. (NASDAQ: NNDM ), under which, Nano Dimension will fully acquire Desktop Metal in an all-cash deal at $5.50 per share. The deal offers a 27.3% premium over Desktop Metal’s closing price and a 20.5% premium over the 30-day VWAP as of July 2, 2024, totaling approximately $183 million.

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Petersen Health Lands $136M In Winning Asset Bids

Law 360 M&A

Petersen Health Care told a Delaware bankruptcy court Wednesday it selected four successful bids, totaling roughly $135.8 million, for the company's skilled nursing facilities, including an offer worth $116.2 million from a stalking-horse bidder.

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Legal expert discusses federal labor ramifications of overturning Chevron Doctrine

ThomsonReuters

In a landmark decision, the Supreme Court overturned the longstanding Chevron doctrine, significantly altering the landscape of federal agency authority. The ruling, known as the Loper decision , marks a seismic shift in how federal agencies interpret and enforce statutes. Checkpoint Payroll Update recently spoke with Alexander T. MacDonald, Shareholder and member of the Workplace Policy Institute at Littler, to understand how the Loper decision may affect federal labor and employment law.

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Boxing Makes Me A Better Lawyer

Law 360 M&A

Boxing has influenced my legal work by enabling me to confidently hone the skills I've learned from the sport, like the ability to remain calm under pressure, evaluate an opponent's weaknesses and recognize when to seize an important opportunity, says Kirsten Soto at Clyde & Co.

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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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Supply chain ‘goes rouge’: Inside Coty’s makeover

Mckinsey and Company

Coty chief global supply chain officer Graeme Carter explains how the beauty company’s people-first approach to digital and AI is helping it reach its goals.

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Hawksmoor for sale in deal that could value restaurant chain at £100m

The Guardian M&A

Investment bank Stephens hired to find suitors for business, which wants to expand overseas operations The high-end steakhouse chain Hawksmoor has been put up for sale in a deal that could value it at about £100m. The restaurant chain has hired the investment bank Stephens to start looking for potential suitors for the business, which is hoping to expand its overseas operation.

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The ‘evergreen economy’: Harnessing the power of healthy longevity

Mckinsey and Company

Economist Andrew J. Scott, author of The 100-Year Life and The Longevity Imperative, discusses the opportunity for positive and profound change in an aging society.

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Is an ESOP the Right Choice for Your Company?

Machen McChesney

Employee stock ownership plans have been in the headlines recently, but they have been around for decades. ESOPs are qualified defined contribution plans in the form of stock bonus plans or stock purchase/money purchase plans. They are governed by Internal Revenue Code Section 401(a) and the Employee Retirement Income Security Act, also known as ERISA.

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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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Germany vetoes sale of sensitive turbine unit to Chinese group

Financial Times M&A

Blocking of MAN Energy’s proposed deal reflects Berlin’s more security-conscious relations with Beijing

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Anglo American's Coal Asset Sale Faces Hurdle After Fire At Major Mine

Benzinga

Anglo American ‘s (OTC: AAUKF ) efforts to sell coal assets have hit a significant setback following a fire at its flagship Grosvenor mine in Queensland, Australia. What Happened : Anglo American has been planning to sell its Australian coal assets, including Grosvenor, as part of a broader restructuring effort to fend off a $49 billion takeover bid from BHP Group (NYSE: BHP ).

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SoftBank to prioritise AI deals over share buybacks despite pressure from Elliott

Financial Times M&A

Japanese group’s top leaders seek ‘new investment activity’ after calls from hedge fund to return cash

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Why Is Paramount Global Stock Surging Today?

Benzinga

Paramount Global (NASDAQ: PARA ) shares surged premarket Wednesday as Skydance Media has reportedly reached a preliminary agreement to acquire National Amusements Inc. and merge with Paramount, the parent company of CBS and MTV. Shari Redstone’s National Amusements, the family firm controlling Paramount, will forward the deal to a special committee of Paramount directors for review, reported Bloomberg.

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Comment on The Illogical Reality of Mortgage Appraisal Reviews  by Mary Cummins

Appraisers Blog

Good article. Great content and very well written. This is an important and relevant issue today. I’ve had to deal with reviewers who either didn’t read the report or didn’t know what they were talking about.

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DOJ Asks More Questions About Schlumberger-ChampionX Merger: Details

Benzinga

Schlumberger Limited (NYSE: SLB ) and ChampionX Corporation (NASDAQ: CHX ) received a second request from the United States Department of Justice regarding Schlumberger’s planned acquisition of ChampionX. SLB currently anticipates the transaction to conclude in late 2024 or early 2025, subject to regulatory approvals and customary closing conditions.

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On-Cycle Private Equity Recruiting: Will PE Firms Start Recruiting 10-Year-Old Children Soon?

Brian DeChesare

When firms kicked off the on-cycle private equity recruiting process in June this year, before IB Analysts had even started their training , some people were shocked. But those covering the industry for 20+ years were not surprised. It continued the insanity that the “on-cycle process” has become. A long time ago, in a galaxy far, far away, this process used to start ~1 year in advance of PE jobs.

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Saks Fifth Avenue's Parent Company To Buy Neiman Marcus For $2.65B, With Amazon's Help: Report

Benzinga

The parent company of Saks Fifth Avenue has reportedly agreed to acquire its rival Neiman Marcus for $2.65 billion. The deal, which is expected to be announced imminently, will see the involvement of Amazon.com Inc. (NASDAQ: AMZN ). What Happened : The acquisition, which has been approved by the boards of both companies, will result in the creation of a luxury retail powerhouse, reported The Wall Street Journal, citing people familiar with the matter.

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EQT strikes £2.2bn deal for Irish video gaming group Keywords Studios

Financial Times M&A

Swedish buyout company lowers price in agreement that underlines attraction of London’s stock market

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Robinhood Buys Pluto Capital, Eyes Wealth Business

Benzinga

Robinhood Markets (NASDAQ: HOOD ) has announced the acquisition of Pluto Capital Inc., an innovative AI-powered investment research platform. This acquisition marks a significant step for the company as it aims to enhance its offerings with intelligent, data-driven investing tools. With the integration of Pluto's advanced capabilities, the company is set to revolutionize the investment experience for its users.

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Weil Adds Mayer Brown Corporate Partner In New York

Law 360 M&A

Weil Gotshal & Manges LLP has hired a former Mayer Brown LLP partner, who joins the firm's New York office to work on private funds issues and with investors, according to an announcement Tuesday.

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'Poison Pill' Activated: Southwest Airlines Counters Elliott Investment's Move With Defense Strategy

Benzinga

Southwest Airlines Company (NYSE: LUV ) has implemented a limited-duration shareholder rights plan in response to an 11% stake by Elliott Investment Management. Gary Kelly, Executive Chairman of the Board, said, “In light of the potential for Elliott to significantly increase its position in Southwest Airlines, the Board determined that adopting the Rights Plan is prudent to fulfill its fiduciary duties to all Shareholders.” The plan takes immediate effect and will last for one year,

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4 Firms Guide $183M Nano Dimension, Desktop Metal Deal

Law 360 M&A

Israeli 3D printing company Nano Dimension Ltd. said Wednesday it has inked a deal to buy Massachusetts-based Desktop Metal Inc. for $183 million, a surprise twist that comes after both companies had vied last year to combine with a third rival in transactions that would have been worth upwards of $1.8 billion.

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Battle Over Beds: FTC Sues To Block Tempur Sealy's $4B Bid for Mattress Firm, Citing Competition Concerns

Benzinga

Tempur Sealy International, Inc. (NYSE: TPX ) faces a roadblock as the Federal Trade Commission (FTC) voted unanimously to block its proposed $4 billion acquisition of Mattress Firm Group Inc. The merger, which would combine the world’s largest mattress manufacturer with the nation’s largest mattress retailer, has raised significant competition concerns, per the regulator.

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Cerevel Investors Allege Insider Trades Pre-$8.7B AbbVie Deal

Law 360 M&A

A pension fund shareholder of Cerevel Therapeutics Holdings Inc. has sued the biopharmaceutical company in Delaware's Court of Chancery, seeking documents to investigate potential fiduciary duty breaches and possible insider trading shortly before the company announced its pending $8.7 billion merger with AbbVie Inc.

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On Semiconductor Expands Portfolio With SWIR Acquisition

Benzinga

On Semiconductor (NASDAQ: ON ) is expanding its footprint in the intelligent image sensing industry by acquiring SWIR Vision Systems, a leading provider of CQD (colloidal quantum-dot-based) short wavelength infrared technology. The acquisition enhances ON's portfolio by integrating advanced SWIR capabilities into its industry-leading Complementary Metal-Oxide-Semiconductor (CMOS) sensors, enabling the detection of extended light spectra for unprecedented imaging possibilities.

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VC Market Relies On AI Funding To Escape Doldrums

Law 360 M&A

U.S. venture funding rose to its highest quarterly total in more than two years thanks to increased funding for artificial-intelligence focused startups, according to data provider Pitchbook, although capital raising is still far below the boom era of 2021.

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Business Valuation for Buying a Funeral Home

Peak Business Valuation

Are you an entrepreneur considering a new venture? Imagine owning a business that provides a vital community service and offers a strong return on investment. Owning a funeral home could be the perfect opportunity for you. Nothing is certain except death and taxes. As such, the funeral home industry is a recession-resistant way to make a positive impact.

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Assa Abloy Trying To Rewrite Merger Deal, Gov't Claims

Law 360 M&A

The U.S. Department of Justice fired back at Assa Abloy's bid to rein in a monitoring trustee installed after the company settled a government merger challenge, saying the company is trying to "walk away from its promises to the court" after completing its acquisition of Spectrum Brands' hardware and home improvement business.

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Microsoft empowers the zero trust journey with Security Service Edge solution

Avanade

With more organizations, than ever, pivoting to a zero trust first mindset, having the right solution for secure internet and application access is a critical component of any zero trust journey.

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