Harvard Corporate Governance

SEPTEMBER 4, 2024

Posted by Martin Lipton, Wachtell, Lipton, Rosen & Katz, on Wednesday, September 4, 2024 Editor's Note: Martin Lipton is a Founding Partner at Wachtell, Lipton, Rosen & Katz. This post is based on a Wachtell Lipton memorandum by Mr. Lipton, Steve Rosenblum , Elina Tetelbaum , Karessa Cain , Carmen Lu , and Anna Dimitrijevic. Activism has remained robust over the past year, following a post-pandemic rebound.

Marketability 133

Marketability 133

NYT M&A

SEPTEMBER 4, 2024

The Committee on Foreign Investment in the United States is expected to raise national security concerns about selling the iconic steel producer to Japan’s Nippon Steel.

Mergers & Acquisitions 128

Mergers & Acquisitions 128

Mckinsey and Company

SEPTEMBER 4, 2024

Southeast Asia is emerging as a global manufacturing hub, presenting opportunities for logistics companies. Here’s a look at global trade flows in the region.

Marketability 120

Marketability 120

Global Finance

SEPTEMBER 4, 2024

Global Finance magazine interviewed Brazil Central Bank President Roberto Campos Neto, who has been at the helm since February 2019. In recognition of his leadership in managing Brazil’s monetary policy, Campos Neto earned an “A” grade in the magazine’s 2024 Central Banker Report Cards, announced in August. He also received an “A” in 2023’s report card.

Banking 105

Banking Finance Marketability Start-ups 105

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

Mckinsey and Company

SEPTEMBER 4, 2024

Retail investors are investing more of their capital in companies that have the highest market capitalizations. Intrinsic investors are taking a different approach.

Market Capitalization 117

Market Capitalization Marketability Corporate Finance Finance 117

Law 360 M&A

SEPTEMBER 4, 2024

A coalition of Illinois towns challenging the approval of Canadian Pacific's $31 billion merger with Kansas City Southern told the D.C. Circuit the federal government is trying to use a settlement struck by Chicago's commuter rail system to limit the issues in the case.

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Law 360 M&A

SEPTEMBER 4, 2024

Johnson & Johnson owes more than $1 billion to a medical robotics developer and entrepreneur caught up in a multibillion-dollar post-acquisition dispute, a Delaware vice chancellor ruled Wednesday.

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Mckinsey and Company

SEPTEMBER 4, 2024

While the country’s consumers are increasingly optimistic and expect to spend more, they remain inclined to trade down and reluctant to splurge.

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111

Appraisers Blog

SEPTEMBER 4, 2024

In reply to kevin. Of course the site does not work. There was so much industry pressure the effort was shut down from the top down. Appraisal Advisor was the idea of the son of the founder of Alamode, Biggers. He wanted to provide a truly useful tool to help appraisers because it was obvious then how exploitative the amc industry was becoming. Right when the site went live within a month or so, there must have been so much pressure that they shut the effort down.

Appraisal 98

Appraisal Compliance 98

Law 360 M&A

SEPTEMBER 4, 2024

After the U.S. Supreme Court’s Loper Bright Enterprises v. Raimondo decision overturning Chevron deference, law firms will need to integrate litigation, lobbying and communications functions to keep up with the ramifications of the ruling and provide adequate counsel quickly, says Neil Hare at Dentons.

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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

Appraisers Blog

SEPTEMBER 4, 2024

Wow, a lot of unneeded hostility. Now back to the Fee thing. If you total the amounts of the 33 fee examples in the provided document, the total paid out by lenders (actually borrowers) is $37,243. Of that, the AMCs received $21,505.93 (57.7%). The appraisers received a mere $14,601.87 (39.2%). So… $37,243 is only 33 appraisals. ARCC stated this is only the tip of the iceberg with regard to the data collected, representing about 10% of that received.

Appraisal 97

Appraisal Compliance Finance 97

Law 360 M&A

SEPTEMBER 4, 2024

The U.K.'s antitrust regulator said Wednesday it has ended its probe into Microsoft's hiring of Inflection AI staff, finding the U.S. machine learning specialist's operation was too small to trigger competition concerns.

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Global Finance

SEPTEMBER 4, 2024

Call it “the CFO shuffle.” Top finance leaders are shifting from one company or position to another—or opting for retirement—at a faster rate. That’s according to the latest data from Russell Reynolds Associates, which specializes in executive searches. This year saw increased levels of turnover, with the proportion of outgoing finance chiefs reaching 8.9% globally from January to June.

Finance 94

Finance Marketability Corporate Finance 94

NYT M&A

SEPTEMBER 4, 2024

The $23-per-share offer by the department store’s founding family comes as retailers struggle to navigate new shopping trends and costly real estate.

Mergers & Acquisitions 75

Mergers & Acquisitions 75

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.

Marketability

Appraisers Blog

SEPTEMBER 4, 2024

CO first state in the nation to put forth AI systems laws. Specifically mentioned; AI systems which pertain to lending. Might just be easier to continue using human appraisers instead.

Appraisal 64

Appraisal 64

Benzinga

SEPTEMBER 4, 2024

WiSA Technologies, Inc. (NASDAQ: WISA ) shares are jumping premarket Wednesday. The company inked a definitive asset purchase agreement to acquire the Datavault intellectual property and IT assets from privately held Data Vault Holdings Inc. in a $210 million deal. The deal includes $200 million in restricted common stock of WiSA Technologies, priced at $5.00 per share, and $10 million in an unsecured promissory note (due in three years, with 10% of any financing proceeds allocated to its repaym

Technology 59

Technology Finance Equity 59

Law 360 M&A

SEPTEMBER 4, 2024

The founder of pet-toy maker Kong Co. has asked a Colorado state judge to declare the company's president has no equity or voting interest, as part of a sprawling internal dispute over management of the company.

Equity 52

Equity 52

Auto Dealer Valuation Insights

SEPTEMBER 4, 2024

Lucas M. Parris, CFA, ASA-BV/IA is participating in the panel “Hot Topics in Financial Reporting Valuation” at the upcoming 2024 ASA International Conference on September 16, 2024. Lucas Parris is a Senior Vice President at Mercer Capital and the leader of Mercer Capital’s Financial Reporting Valuation Group.

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Law 360 M&A

SEPTEMBER 4, 2024

Federal Trade Commision attorneys on Wednesday pressed Albertsons Cos. Inc. CEO Vivek Sankaran in Oregon federal court about why he had such dire predictions about the company's future without a merger with Kroger despite previous statements about how his company had been crushing the competition.

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Auto Dealer Valuation Insights

SEPTEMBER 4, 2024

Mercer Capital’s Jeff K. Davis, CFA and Andrew K. Gibbs, CFA, CPA/ABV are presenting at Bank Director’s 2024 Bank Board Training Forum on Monday, September 16th in Nashville, Tennessee. Their session is titled “Bank Director 101: M&A Primer,” and explores the fundamentals of bank M&A, including how boards should approach the decision to buy or sell.

Banking 52

Banking 52

Law 360 M&A

SEPTEMBER 4, 2024

A pension fund invested in financial technology company nCino Inc. urged Delaware's Supreme Court on Wednesday to revive its suit against company directors and investment firm Insight Venture Partners over a $1.2 billion acquisition, arguing the Chancery Court "missed the mosaic for the tiles" by dismissing the case.

Technology 52

Technology 52

Benzinga

SEPTEMBER 4, 2024

Advanced Micro Devices (NASDAQ: AMD ) shares have gained 10%, outperforming the broader Zacks Computer & Technology sector's return of 9.7%. The semiconductor chip provider has been riding on strong performance of the Data Center segment. In the second quarter of 2024, Data Center revenues surged 114.5% year over year to $2.83 billion and accounted for 48.6% of total revenues.

Technology 52

Technology Marketability 52

Law 360 M&A

SEPTEMBER 4, 2024

A New Jersey federal judge Wednesday allowed health system RWJBarnabas Health Inc. to move ahead with a subpoena on the New Jersey State Commission of Investigation in a case in which RWJBarnabas is accused of antitrust violations by rival health system CarePoint Health Management Associates LLC.

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Global Finance

SEPTEMBER 4, 2024

The race for Latin America’s massive stablecoin market has become more competitive. Following the successful launch of Circle’s proprietary USDC via behemoth banks BTG Pactual and Nubank in March, the unicorn Latin American startup Mercado Libre has rolled out its commission-free dollar-backed stablecoin, the Meli Dolar. Pegged 1-to-1 to the US dollar, the Meli Dolar aims to leverage the electronic marketplace’s significant presence in Brazil to establish a dominant position in the country.

Banking 52

Banking Finance Marketability Technology 52

Law 360 M&A

SEPTEMBER 4, 2024

Orrick Herrington & Sutcliffe LLP-steered software engineering business Epam Systems Inc. will acquire Miami-based advanced technology company Neoris for $630 million in cash, the companies announced Wednesday.

Technology 52

Technology 52

Global Finance

SEPTEMBER 4, 2024

To avoid bias in customer-facing banking applications, the Hong Kong Monetary Authority (HKMA) issued new generative artificial intelligence (GenAI) guidelines as more banks adopt such technologies. In a mid-August notice, the territory’s de facto central bank said financial institution boards and senior management should “remain accountable for all the GenAI-driven decisions and processes.

Banking 52

Banking Technology Finance Corporate Finance 52

Law 360 M&A

SEPTEMBER 4, 2024

As the debt maturity cliff swiftly approaches in this challenging environment, attorneys at Winston & Strawn highlight the top considerations for boards of directors and finance professionals to think about when structuring and executing liability management transactions, including reviewing capital structure, evaluating debt covenants, and more.

Capital Structure 52

Capital Structure Finance 52

Global Finance

SEPTEMBER 4, 2024

Kuwait lenders Boubyan Bank and Gulf Bank—the emirate’s third- and fifth-largest banks—have disclosed they are in preliminary talks that may lead to a merger. If the merger goes ahead, it will create an Islamic bank with assets of around $53 billion and about a 15% market share measured by consolidated assets, Fitch Ratings said in a note last month.

Banking 52

Banking Finance Marketability 52

Law 360 M&A

SEPTEMBER 4, 2024

Nordstrom Inc. confirmed Wednesday that it received a proposal from a group that includes its CEO Erik Nordstrom and brother Pete to acquire the company for $23 per share in cash, which values the company around $3.8 billion.

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Benzinga

SEPTEMBER 4, 2024

President Joe Biden is preparing to formally block Nippon Steel Corp’s (OTC: NPSCY ) nearly $15-billion acquisition of United States Steel Corp (NYSE: X ), according to a Wednesday Washington Post report citing three people with knowledge of the matter. The move from the Biden administration would be a major hit to the proposed $14.9-billion takeover deal that was announced at the end of last year.

Marketability 52

Marketability 52

Law 360 M&A

SEPTEMBER 4, 2024

The Europe Union's highest court has left the bloc's antitrust authorities struggling to find a way to close an enforcement gap that could make it easier for dominant companies to neutralize startups with its decision that the European Commission had no authority to probe Illumina’s $8 billion acquisition of Grail.

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Peak Business Valuation

SEPTEMBER 4, 2024

Are you planning on buying a footwear wholesale business ? With the right guidance, operating a footwear wholesale business can be very profitable. Quality footwear remains a necessity for safety and fashion. If you are buying a footwear wholesale business, a business valuation can provide you with the information you need to succeed. During a business valuation for buying a footwear wholesale business, you discover its overall financial health and potential.

Business Valuation 52

Business Valuation Fair Market Value Appraisal Start-ups 52

Law 360 M&A

SEPTEMBER 4, 2024

Payments technology company Equals said Wednesday that the Panel on Takeovers and Mergers has granted its request to extend a deadline for the third time for a consortium of investors to confirm or cancel their proposed £253 million ($332 million) takeover bid.

Technology 52

Technology 52

Benzinga

SEPTEMBER 4, 2024

Salesforce, Inc. (NYSE: CRM ) shares are trading marginally lower on Wednesday. According to Benzinga Pro , CRM stock has gained over 13% in the past year. Investors can gain exposure to the stock via iShares Expanded Tech-Software Sector ETF (BATS: IGV ) and REX FANG & Innovation Equity Premium Income ETF (NASDAQ: FEPI ). Salesforce has finalized an agreement to acquire Tenyx , a company specializing in AI-driven voice agents that enhance customer service with natural, engaging conversation

Equity 52

Equity Marketability 52