Harvard Corporate Governance

DECEMBER 10, 2023

Posted by Robert Appleton, Jason Saltsberg, and Brian Roe, Olshan Frome Wolosky LLP, on Sunday, December 10, 2023 Editor's Note: Robert Appleton and Jason Saltsberg are Partners and Brian Roe is an Associate at Olshan Frome Wolosky LLP. This post is based on their Olshan memorandum. On January 1, 2024, the Corporate Transparency Act (“CTA”) comes into effect.

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Benzinga

DECEMBER 10, 2023

In a recent development in the health insurance sector, Cigna Corporation (NYSE: CI ) has withdrawn from its proposed merger with Humana Inc. (NYSE: HUM ). What Happened: The deal, poised to create a colossal entity in the industry with an estimated $140 billion, fell through due to disagreements over financial terms. With the merger off the table, Cigna is redirecting its strategy towards smaller, targeted acquisitions, reports The Wall Street Journal.

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Musings on Markets

DECEMBER 10, 2023

Can one person make a difference to the value of a business? Of course, and with small businesses, especially those built around personal services (a doctor or plumber’s practice), it is part of the valuation process, where the key person is valued or at least priced and incorporated into valuation. While that effect tends to fade as businesses get larger, the tumult at Open AI, where the board dismissed Sam Altman as CEO, and then faced with an enterprise-wide meltdown, as capital providers and

Key Person Discount 116

Key Person Discount Start-ups Price to Book Marketability 116

NYT M&A

DECEMBER 10, 2023

Ms. Redstone waged a bitter battle for control of National Amusements, the parent company of MTV, CBS and the Paramount movie studio. Now, she’s considering a sale.

Mergers & Acquisitions 114

Mergers & Acquisitions 114

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.

Marketability

Avanade

DECEMBER 10, 2023

In this two-part blog series, Avanade’s industry and technology experts join forces to explore how generative AI will impact financial services in Southeast Asia.

Technology 90

Technology 90

Benzinga

DECEMBER 10, 2023

An investor consortium has tabled a $5.8 billion bid to acquire Macy's Inc. (NYSE: M ), in an attempt to privatize the iconic department store chain. This comes as Macy's grapples with mounting competition from digital retailers, which has significantly eroded its market value. As per The Wall Street Journal , Arkhouse Management , a real estate-oriented investment firm, and Brigade Capital Management , a global asset manager, submitted a proposal on Dec. 1 to buy the Macy's shares t

Marketability 78

Marketability 78

NYT M&A

DECEMBER 10, 2023

Department stores have been a frequent target of takeover attempts by investors looking to take advantage of prime real estate.

Mergers & Acquisitions 89

Mergers & Acquisitions 89

Financial Times M&A

DECEMBER 10, 2023

Merger would have been largest of year and created a $140bn healthcare insurer

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Peak Business Valuation

DECEMBER 10, 2023

Employee Stock Ownership Plans (ESOPs) are a popular way for companies to provide retirement benefits to their employees. With an ESOP, a company’s original investors retain ownership of the business. However, employees are given or enabled to purchase shares in the company, making them direct stakeholders. Whether you are starting, purchasing , or expanding a business , you may consider setting up an employee stock ownership plan.

Business Valuation 52

Business Valuation Fair Market Value Start-ups Appraisal 52

Financial Times M&A

DECEMBER 10, 2023

Vivendi is hoping to fetch up to €300mn for one of the UK’s biggest ticketing merchants

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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

Corporate Finance

Reynolds Holding

DECEMBER 10, 2023

As a capital allocation decision, share buybacks intersect all three of the main corporate finance activities of investing, financing, and dividends [1]. Buybacks continue to be very divisive, evoking comments like “derangement syndrome” by Cliff Asness, “economic illiterates” by Warren Buffett and “paper manipulation” by Sen. Warren. One of the deep-seated reasons for the splitting of opinion is that share buybacks transfer wealth between shareholders [2].

Dividends 45

Dividends Total Shareholder Return Corporate Finance Finance 45

Financial Times M&A

DECEMBER 10, 2023

ByteDance’s social media company to invest $1.

eCommerce 99

eCommerce 99

Reynolds Holding

DECEMBER 10, 2023

CEOs are increasingly stepping into the limelight, not as business leaders but as activists. From advocating for LGBTQ+ rights to speaking out on gun control and police use-of-force, CEOs now engage on many polarizing social and political issues. Scholars have examined how this CEO activism affects the behavior of consumers, investors, employees, and other stakeholders.

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