Mon.Jul 08, 2024

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Climate and Decarbonization Stewardship Guidelines

Harvard Corporate Governance

Posted by Joud Abdel Majeid, BlackRock Inc., on Monday, July 8, 2024 Editor's Note: Joud Abdel Majeid is Global Head of Investment Stewardship at BlackRock Inc. This post is based on his BlackRock memorandum. BlackRock climate and decarbonization stewardship guidelines [1] Introduction to BlackRock Investment Stewardship BlackRock’s clients depend on us to help them meet their varied investment goals.

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The evolution of customer care: AI and the Gen Z effect

Mckinsey and Company

Gen Z’s influence on consumer behavior and employment trends is driving contact center leaders to integrate AI, adapt to market changes, and implement holistic strategies for customer care.

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Chancery Court Grants Rare Motion to Dismiss Suit Governed by Entire Fairness

Harvard Corporate Governance

Posted by Randi Lesnick, Andy Levine, and Nick Walter, Jones Day, on Monday, July 8, 2024 Editor's Note: Randi Lesnick and Andy Levine are Co-Chairs of Corporate Practice, and Nick Walter is Of Counsel at Jones Day. This post is based on Jones Day memorandum by Ms. Lesnick, Mr. Levine, Mr. Walter, Ryan Andreoli , Evan Singer , and John Tang , and is part of the Delaware law series ; links to other posts in the series are available here.

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$4.3B In Soft Drinks: Carlsberg Acquires Britvic In Bold Move Amid Cannabis Market Growth

Benzinga

Carlsberg' s (CARL-B.CO) recent $4.3 billion acquisition of Britvic , known for Robinsons squash and J20 , highlights a strategic pivot for the Danish brewer. The deal will create a new entity, Carlsberg Britvic , to enhance its footprint in the UK and Western Europe. Following a previously rejected lower offer, Britvic investors will receive £13.15 per share.

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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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Common Ownership and Hedge Fund Activism: An Unholy Alliance?

Harvard Corporate Governance

Posted by Zohar Goshen (Columbia Law School), and Doron Levit (University of Washington), on Monday, July 8, 2024 Editor's Note: Zohar Goshen is Jerome L. Greene Professor of Transactional Law at Columbia Law School, and Doron Levit is Marion B. Ingersoll Endowed Professor of Finance and Business Economics at the University of Washington Foster School of Business.

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Paramount Analysts Size Up Merger: Skydance Aims For Earnings, 'Not A Breakup,' Redstone Says Content Is King

Benzinga

Media company Paramount Global (NASDAQ: PARA ) agreed to a merger with Skydance Media to form "New Paramount," valuing the combined company at $28 billion. Here's a look at what analysts are saying and how Paramount Non-Executive Chairwoman Shari Redstone sees the deal playing out. What Happened: After months of negotiation, Paramount and Skydance have come to a merger agreement to combined the media entities.

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More Trending

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In Memoriam: The Modern Administrative State

Law 360 M&A

On June 28, the modern administrative state, where courts deferred to agency interpretations of ambiguous statutes, died when the U.S. Supreme Court overruled its previous decision in Chevron U.S.A. v. Natural Resources Defense Council — but it is survived by many cases decided under the Chevron framework, say Joseph Schaeffer and Jessica Deyoe at Babst Calland.

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Cannabis Giant SNDL Is Taking Care Of Other Companies' Debts, Expects To Acquire Shares Of Canadian Cannabis Edibles Producer

Benzinga

SNDL Inc. (NASDAQ: SNDL ) said on Friday that it has entered into a purchase agreement with cannabis edibles producer Indiva Limited (OTC: NDVAF ) and its subsidiaries. What Happened Under the deal SNDL offered to buy all of the issued and outstanding shares of Indiva and the business and assets of the Indiva Group. The considerations for the deal include: A credit bid of all of the indebtedness of the Indiva Group owing to SNDL; the retention of certain liabilities of the Indiva Group; and cash

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David Ellison says Paramount will become a ‘media and tech’ company

Financial Times M&A

The son of Oracle founder Larry Ellison believes technology will be crucial to transforming the struggling studio’s fortunes

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Benchmark International Successfully Facilitated the Transaction Between MTS Transportation, Inc. and High Desert Management Group, LLC

Benchmark Report

Benchmark International is pleased to announce the transaction between MTS Transportation, Inc. and High Desert Management Group, LLC. The transaction represents a strategic expansion for High Desert Management Group, LLC, as it works to achieve scale through acquisitions and service diversification.

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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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Beleaguered Spanish Drug Firm Grifols Stock Jumps On Monday - Here's Why

Benzinga

In a regulatory filing, Grifols SA (NASDAQ: GRFS ) said that Brookfield Capital has confirmed that it has engaged in preliminary discussions with Grifols’s key shareholders regarding a potential joint offer to delist the company’s shares from the Spanish stock exchanges and NASDAQ. Brookfield and the shareholders have signed an exclusivity agreement to explore this possibility further and requested access to certain company information to conduct due diligence.

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UK hotel dealmaking hits highest level in almost a decade

Financial Times M&A

Private equity interest drove transactions above £3bn in the first half the year, according to Savills

Equity 100
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Compelling deal for Carlsberg but lacking in fizz for Britvic investors

The Guardian M&A

Soft drinks maker puts on a display of verbal gymnastic as takeover helps Danish brewer to enlarge its UK business What was it that Ian Durant, chairman of Britvic, the Fruit Shoot, J20 and R White’s lemonade firm, was saying about Carlsberg’s last bid at £3.1bn , or £12.50 a share? Here it is: the offer “significantly undervalues Britvic, and its current and future prospects”.

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Technology for all through diversity and inclusion

Avanade

At Avanade, we foster a culture of innovation and ethical development through our STEM Education Program, engaging thousands of students and striving for a more equitable tech industry.

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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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Bedford Metals Completes Sheppard Lake Uranium Project Option Agreement

Benzinga

VANCOUVER, British Columbia, July 09, 2024 (GLOBE NEWSWIRE) -- Bedford Metals Corp. (TSXV: BFM , FWB: O8D) (the "Company" or "Bedford") is pleased to announce that following completion of a diligence review, it has entered into a definitive option agreement (the "Option Agreement"), dated July 8, 2024, with an arms-length vendor, pursuant to which it has been granted the right to acquire the Sheppard Lake Uranium Project, subject to a net smelter returns royalty.

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Cultivating Success: How to Thrive Through Business Acquisitions

Sun Acquisitions

In the realm of mergers and acquisitions (M&A), much emphasis is placed on the processes leading up to and including the acquisition itself. However, what truly sets apart successful acquisitions is not just the act of closing the deal but the ability to thrive and grow in the aftermath. In this discussion, we delve into the often-overlooked aspect of post-acquisition success and explore strategies for cultivating growth and prosperity in the wake of business acquisitions.

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Recovery in dealmaking will fuel an activist comeback

Financial Times M&A

Better conditions that lead to more divestments and listings will stir up calls for corporate break-ups

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Exploring the Technical Due Diligence of an Oil Company

RNC

Introduction: Technical due diligence plays a crucial role in assessing the operational and technical aspects of an Oil company. A Private Equity Firm considers acquiring a stake in a mid-sized Oil Company. The Equity firm decides to evaluate feasibility, operational efficiency & potential risks involved. 1. Oil & Gas Reservoir Evaluation : – Petroleum engineers and geologists assess the quality and quantity of reserves. – Evaluates porosity, permeability and fluid properties

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Blank Check Co. Sagaliam Gets Shareholder Suit Trimmed

Law 360 M&A

A Delaware federal judge on Monday trimmed a shareholder suit brought against blank check company Sagaliam Acquisition Corp. over its planned tie-up with biotech company Enzolytics Inc., saying the plaintiffs failed to adequately plead a breach of fiduciary duty claim.

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What is the Risk Management Process? | Ncontracts

N Contracts

Organizations need a risk management process to identify, measure, and control risks that jeopardize business operations and negatively impact their bottom line. For financial institutions, having a method for managing risk is especially important, given how dramatically risk affects them from an operational and regulatory standpoint, including the potential for consumer harm.

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Would-Be Pot Co. Rainmaker Still Not Liable For Alleged Fraud

Law 360 M&A

A Colorado Court of Appeals panel has affirmed the outcome of a jury trial in which a businessman was found not liable for defrauding a cannabis company, concluding that it would have been highly prejudicial to tell jurors the businessman was sanctioned in the case for fabricating evidence.

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Tammy Ford Falkner

Auto Dealer Valuation Insights

June 22, 2024 saw the passing of one of Mercer Capital’s longest tenured and most loved members – Tammy Ford Falkner. Tammy started working at Mercer Capital in January of 1990. The day she started, the company was having an off-site meeting – probably to plan the year ahead.

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Texas Anesthesia Co. Can't Pause Or Appeal Suit, FTC Says

Law 360 M&A

The Federal Trade Commission urged a Texas federal court not to pause its suit accusing U.S. Anesthesia Partners Inc. of a monopolistic "roll-up" of Lone Star State anesthesia practices, arguing the company can't appeal an order refusing to toss the case against it.

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Devon Energy Drills Down On Growth: $5B Deal Expands Williston Basin Presence

Benzinga

Devon Energy Corporation (NYSE: DVN ) shares are trading lower today. The company disclosed a definitive agreement to acquire Grayson Mill Energy’s Williston Basin business for $5 billion. The acquisition price comprises $3.25 billion in cash and $1.75 billion in stock. The acquisition includes 500 gross locations and 300 high-quality refrac candidates, extending Devon’s inventory life in the basin to up to 10 years with three operated rigs.

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Bus Co. Coach Gets $8M Stalking-Horse Bid For More Assets

Law 360 M&A

An industrial transportation provider submitted a roughly $8 million stalking-horse offer for some of the remaining assets of intercity bus operator Coach USA, as the insolvent company seeks to sell more of its assets while in Chapter 11 in Delaware.

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Business Valuation for Selling an Event Planning Business

Peak Business Valuation

Selling an event planning business can be a pivotal decision. It offers business owners the opportunity to reap the rewards of hard work and dedication. You may be looking to retire, pursue new ventures, or simply move on to the next chapter of your life. Selling an event planning business can open up exciting possibilities. You can ensure a smooth and profitable transition with careful preparation.

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Assa Abloy Says No Monitor 'Blank Check' After Merger Deal

Law 360 M&A

Assa Abloy on Monday reasserted its bid to rein in a monitoring trustee installed after the company settled a government merger challenge, arguing ahead of a court hearing that the government is aiming to roll back the parties' deal and carry out a more expansive investigation through the monitor.

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Why Is Paramount Global Stock Surging In Monday's Premarket Session?

Benzinga

Paramount Global (NASDAQ: PARA ) shares are trading higher after the company inked a definitive merger deal with Skydance Media to form “New Paramount” at an enterprise value of about $28 billion. The merger offer represents a 48% premium over the price of the Class B stock as of July 1, 2024, and a 28% premium over the Class A stock on the same date.

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UnitedHealth Brass Face Investor Suit Over Merger Probe

Law 360 M&A

Executives and directors of UnitedHealth Group were hit on Monday with a shareholder derivative suit alleging they concealed that the U.S. Department of Justice reopened an antitrust investigation into the health insurance giant following its acquisition of a healthcare data company and that its brass knowingly sold more than $100 million of shares before the information was publicly revealed.

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Carlyle Eyes $4B Acquisition Of Baxter's Kidney-Care Unit Vantive: Report

Benzinga

Carlyle Group (NYSE: CG ) is reportedly in exclusive talks to acquire Baxter International Inc.’s (NYSE: BAX ) kidney-care spinoff, Vantive, in a deal valued at over $4 billion, including debt. The companies began exclusive negotiations in late June, the Wall Street Journal reported , citing sources familiar with the matter. An agreement could be announced in the coming weeks, though there’s a possibility that the discussions might fall through or another bidder could emerge.

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Icon Aircraft Investor Says Co.'s Ex-CEO Can't Pursue Suit

Law 360 M&A

The majority equity owner of Icon Aircraft has asked a Delaware bankruptcy judge to reject a request by a group of investors including the company's former chief executive to continue prosecuting claims that it breached fiduciary duties, arguing those claims belong to the debtor instead.

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Vista Outdoor Board Endorses CSG's Amended Offer, Rejects MNC's Bid As Insufficient

Benzinga

Vista Outdoor Inc. (NYSE: VSTO ) disclosed an amendment to its merger agreement with Czechoslovak Group a.s. , which increases the purchase price payable by CSG for the acquisition of The Kinetic Group business by $100 million to $2.1 billion. The amendment also raises the cash consideration for Vista Outdoor stockholders to $21.00 per share of Vista Outdoor common stock, an increase of $3.00 per share.

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Rite Aid Says Elixir Buyer In Contempt Over Liability Dispute

Law 360 M&A

Bankrupt pharmacy chain Rite Aid has asked a New Jersey bankruptcy judge to find the purchaser of its prescription benefits subsidiary in contempt, saying the buyer is defying his orders by refusing to assume $200 million of the subsidiary's liabilities.

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Iktos acquires Synsight, a life sciences technology company specializing in protein-protein and RNA-protein interactions-targeted drug discovery

Benzinga

PRESS RELEASE Iktos acquires Synsight, a life sciences technology company specializing in protein-protein and RNA-protein interactions-targeted drug discovery Synsight provides Iktos with an exclusive worldwide license to INSERM's patented technology enabling high performance AI-driven in cellulo screening of modulators of protein-protein and RNA-protein interactions The merger further complements Iktos' AI-based drug discovery platform, that currently includes generative AI design, Ret