Thu.Aug 22, 2024

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Managing Cyber Risk: Breach Risk Trends in Public Companies

Harvard Corporate Governance

Posted by Subodh Mishra, ISS STOXX, on Thursday, August 22, 2024 Editor's Note: Subodh Mishra is Global Head of Communications at ISS STOXX. This post is based on an ISS-Corporate memorandum by Douglas Clare and Brian O’Leary. Introduction In the two years to January 2024, almost 700 cyber incidents were reported among Russell 3000 companies in the U.S., impacting more than 10% of the firms.

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Reimagining insurance with a comprehensive approach to gen AI

Mckinsey and Company

Insurance companies are at an inflection point with their generative AI use cases. Three McKinsey partners discuss the value of combining generative AI with other technologies.

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SEC Enforcement – Top Seven Developments from June 2024

Harvard Corporate Governance

Posted by Adam Aderton, Elizabeth Gray, and Kristina Littman, Willkie Farr & Gallagher LLP, on Thursday, August 22, 2024 Editor's Note: Adam Aderton , Elizabeth P. Gray and A. Kristina Littman are Partners at Willkie Farr & Gallagher LLP. This post is based on a Willkie memorandum by Mr. Aderton, Ms. Gray, Ms. Littman, and Erik Holmvik. In June, four blockbuster court decisions were issued that will reshape the U.S.

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Lynch Yacht Sinking Off Sicily Proves as Baffling as It Is Tragic

NYT M&A

As bodies were recovered, the authorities and experts wondered how a $40 million, stable and secure vessel could have sunk so quickly.

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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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Playing Golf Makes Me A Better Lawyer

Law 360 M&A

Golf can positively affect your personal and professional life well beyond the final putt, and it’s helped enrich my legal practice by improving my ability to build lasting relationships, study and apply the rules, face adversity with grace, and maintain my mental and physical well-being, says Adam Kelly at Venable.

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El hundimiento del yate de Mike Lynch es tan desconcertante como trágico

NYT M&A

Mientras recuperaban los cuerpos, las autoridades y los expertos se preguntaban cómo una embarcación de 40 millones de dólares, estable y segura, podía haberse hundido tan rápido.

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Cannabis Co. Verano Completes $105M Acquisition Of Arizona, Virginia Operations From Leading US Operator

Benzinga

Multi-state cannabis operator Verano Holdings Corp. (OTCQX: VRNOF ) closed the acquisition of three subsidiaries of The Cannabist Company Holdings Inc. (OTCQX: CBSTF ), one of the most experienced cultivators, manufacturers and retailers of cannabis products in the U.S. The company first announced the $105M deal in July. The acquisition, strategic to expanding its national footprint, includes one of Cannabist’s Virginia licenses (Columbia Care Eastern Virginia), along with associated opera

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Bronfman consortium ups last-minute bid for Paramount to $6bn

The Guardian M&A

Increased offer in ‘go shop’ period could derail planned $28bn merger with independent studio Skydance Paramount Global, one of Hollywood’s best-known companies, has received an improved last-minute offer from a group led by the veteran media executive Edgar Bronfman Jr that could gazump its planned $28bn (£21bn) merger with the independent film studio Skydance.

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Comment on Objectionable Valuations Become Hate Speech, Inflating Home Prices by steve

Appraisers Blog

appraisers have to watch out for words that are no where close to being offensive but if someone goes on national media and calls a appraiser a raciest that person is put on a pedestal for being brave and truthful.

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Achieving Seamless M&A Integration: Best Practices for Success

Sun Acquisitions

Mergers and acquisitions (M&A) represent significant opportunities for growth and expansion. Still, their success hinges not only on the deal itself but also on the following integration process. Effective integration is crucial for realizing synergies, maximizing value, and ensuring a smooth transition for all stakeholders involved. This article delves into the best practices for M&A integration, focusing on culture, systems, and processes.

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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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Advance Auto Parts Q2 Earnings: EPS Miss, Annual Outlook Cut, Sells Worldpac Business

Benzinga

Advance Auto Parts Inc. (NYSE: AAP ) is facing a scorching sell-off, with shares plummeting in premarket trading, as a disappointing second-quarter earnings miss, a slashed FY24 outlook, and the announcement of its $1.5 billion Worldpac sale shake investor confidence. The company reported earnings per share of 75 cents, missing the street view of $1.07.

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Pennsylvania Hospital Gets 1 Week Reprieve In Steward Ch. 11

Law 360 M&A

A Texas bankruptcy judge on Thursday approved an order setting general closing procedures for bankrupt hospital operator Steward Health Care, but gave Pennsylvania authorities a week's reprieve as they try to arrange a hospital sale.

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Tax Expert Provides Insights on IRS’s ERC Voluntary Disclosure Program 2.0

ThomsonReuters

In response to complexities surrounding the Employee Retention Credit (ERC), the IRS launched a second Voluntary Disclosure Program (VDP) aimed at providing clarity and assistance to businesses grappling with their claims. As the landscape of tax credits transitions, understanding the implications of this program is crucial for employers who may face uncertainty about their eligibility and potential liabilities.

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Investors Sue Orthopedics Co., Ousted Execs Over Stock Drop

Law 360 M&A

Investors of Texas-based Orthofix Medical Inc. have launched a proposed class action against the spine and orthopedics company and current and former executives, claiming the company's stock tumbled more than 30% following Orthofix's merger with medical technology company SeaSpine in 2023 and the unexpected termination and reshuffle of some of the company's C-suite.

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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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M&A as a Gateway to Cloud Services: Helping Small MSPs Achieve Digital Transformation

Sun Acquisitions

The digital transformation wave has reshaped the business landscape, and managed service providers (MSPs) are at the forefront of this change, especially in the realm of cloud services. However, small MSPs often struggle to keep pace with rapid technological advancements and market demands due to limited resources and expertise. Strategic mergers and acquisitions (M&A) offer a viable solution for these smaller MSPs, enabling them to acquire the necessary resources, expertise, and market reac

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4 Steps To Address New Sanctions Time Bar Extension

Law 360 M&A

Recent guidance from the Office of Foreign Assets Control clarifies details of the newly extended statute of limitations for civil and criminal enforcement of U.S. sanctions law, so compliance teams should implement key updates, including to lookback periods and recordkeeping policies, say attorneys at Freshfields.

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Lithium Co. Deeply Undervalued, Analyst Says

Benzinga

Source: Frederic Tremblay 08/20/2024 For this company with projects in Brazil, the acquisition of a neighboring lithium developer is significant, noted a Desjardins report. Lithium Ionic Corp.'s (OTC: LTHCF ) neighbor in Brazil, Latin Resources Ltd. (OTC: LRSRF ), developing its flagship Salinas lithium project, agreed to be acquired by Pilbara Minerals Ltd.

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Flyers Chided For Late Bid To Block Alaska-Hawaiian Deal

Law 360 M&A

A Hawaii federal judge refused to pause the planned $1.9 billion tie-up between Alaska Airlines and Hawaiian Airlines on Wednesday, telling attorneys for the passengers and travel agents bringing a merger challenge that they appear to have "forgotten" the case was tossed.

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Here's Why Investors Should Hold MarketAxess Stock

Benzinga

MarketAxess Holdings Inc. (NASDAQ: MKTX ) is benefiting from increased trading volumes, a robust Open Trading platform, acquisitions and partnerships, as well as solid cash-generating abilities. Zacks Rank & Price Performance MarketAxess carries a Zacks Rank #3 (Hold) at present. The stock has gained 8.1% in the past six months, in line with the industry.

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Borrowed Claims Revived In CenturyLink Merger Suit

Law 360 M&A

A Colorado Court of Appeals panel said Thursday that attorneys can borrow confidential witness statements from other lawsuits without speaking to the witnesses as long as they take other investigatory steps, reinstating a shareholder suit against CenturyLink.

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OUTFRONT Media Soars 16.4% YTD: Will the Trend Last?

Benzinga

Shares of OUTFRONT Media (NYSE: OUT ) have soared 16.4% year to date compared with the industry's growth of 3.2%. This New York-based advertising real estate investment trust's (REIT) diverse portfolio of advertising sites and large-scale presence, efforts to bolster its digital presence and strategic acquisitions over the years have enabled it to ride the growth curve so far.

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Israeli Tech Co. Cancels SPAC Deal Amid Market Rout

Law 360 M&A

Pomvom, an Israeli software maker that caters to theme parks, and a special purpose acquisition company announced Thursday they have nixed their planned $125 million merger, which would've taken the tech firm public, citing a "change in global market conditions.

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Business Valuation for Selling an Apparel Manufacturing Business

Peak Business Valuation

Operating an apparel manufacturing business can be very profitable. This billion-dollar industry will likely continue to grow over the next several years. As such, apparel manufacturing businesses may become more valuable. If you own an apparel manufacturing business , now may be a good time to sell it. However, before you take any steps, receiving a business valuation for selling an apparel manufacturing business is important.

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Kroger-Albertsons Wrong On Labor Law In FTC Row: NLRB

Law 360 M&A

The National Labor Relations Board used an amicus brief Wednesday to call out Kroger and Albertsons for their "mistaken" citation to labor law as a defense against Federal Trade Commission claims that the grocery giants' $25 billion megamerger threatens union bargaining leverage.

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FCF Healthcare & Life Sciences Venture Capital Monitor – Europe – 07/2024 published

Fox Corporate Finance

FCF Fox Corporate Finance GmbH is delighted to publish the new “FCF Healthcare & Life Sciences Venture Capital Monitor – Europe 07/2024”. The Monitor is a monthly published overview of venture capital trends in the. Read more The post FCF Healthcare & Life Sciences Venture Capital Monitor – Europe – 07/2024 published appeared first on FCF Fox Corporate Finance GmbH.

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Big Deals Boost M&A Values As Transaction Numbers Dip

Law 360 M&A

Large global deals and mega-mergers continued to boost global mergers and acquisitions values through the first half of 2024, compensating for record lows in the total number of deals announced, according to a recent report from S&P Global Intelligence.

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TD Bank stumbles as it accrues $3bn in charges over alleged compliance failures

Financial Times M&A

The lender is now on the defensive after its sloppiness has caught up with it

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Mining Firm USA Rare Earth Inks $870M SPAC Merger

Law 360 M&A

Mining and magnet firm USA Rare Earth LLC, advised by King & Spalding LLP, on Thursday announced plans to go public at a pro forma enterprise value of $870 million by merging with White & Case LLP-led special purpose acquisition company Inflection Point Acquisition Corp. II.

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Will M&A in Japan ever be the same?

Financial Times M&A

Plus, hedge funds retreat from the Magnificent Seven and how a giant German discount retailer stumbled into cloud computing

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Mike Lynch's Path From Tech Founder To DOJ Target

Law 360 M&A

Friends and colleagues paid tribute to Mike Lynch following his death in a yachting accident on Thursday, hailing the British tech entrepreneur for the decades he spent furthering the industry despite the legal troubles that threatened to overshadow his career.

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The SEC Can Learn a Thing or Two from Europe About Regulating Digital Assets    

Reynolds Holding

In its approach to digital assets, the Securities and Exchange Commission has been criticized for regulating by enforcement. In reality, the SEC has taken a twofold approach. In addition to bringing lawsuits against crypto exchanges, the commission has proposed amending the definition of an “exchange” under Rule 3b-16 and the Securities Exchange Act of 1934. [1] The release proposing the change reiterated the applicability of existing rules to platforms that trade digital asset securities under

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Deals Rumor Mill: Saudi Fund, Disney-Reliance, Repligen

Law 360 M&A

Saudi Arabia’s sovereign wealth fund wants to launch a new cargo airline, India’s antitrust regulators worry about power over cricket rights if the $8.5 billion merger of Walt Disney’s Indian business with Reliance Entertainment is allowed, and drug manufacturing provider Repligen is eyeing Maravai LifeSciences. Here, Law360 breaks down these and other notable deal rumors from the past week.

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PharmaCorp Announces Agreement to Acquire a Pharmacy in Western Canada

Benzinga

REGINA, Saskatchewan, Aug. 22, 2024 (GLOBE NEWSWIRE) -- PHARMACORP RX INC. (" PharmaCorp " or the " Corporation ") (TSXV: PCRX ) is pleased to announce that it has agreed to acquire from two arm's length vendors (the " Vendors ") a 90% interest in a pharmacy (the " Acquired Pharmacy ") located in Western Canada. The aggregate purchase price for the 90% interest is $2,207,170, will be funded from cash and is expected to close on or about August 30, 2024, subject to satisfaction of customary

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Latham-Led Carlyle Scooping Auto Parts Distributor For $1.5B

Law 360 M&A

Advance Auto Parts said Thursday it has struck an agreement to sell Worldpac Inc., an automotive parts wholesale distribution business, to private equity firm Carlyle for $1.5 billion, as the company looks to streamline operations amid declining profits.