Wed.Jul 10, 2024

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The Overlooked Reality of Shareholder Activism in China: Defying Western Expectations

Harvard Corporate Governance

Posted by Zhou Chun (Guanghua School of Law), Zhang Wei (Yong Pung How School of Law), and Dan W. Puchniak (Yong Pung How School of Law), on Wednesday, July 10, 2024 Editor's Note: Zhou Chun is an Associate Professor at Guanghua School of Law, Zhang Wei is an Associate Professor at the Yong Pung How School of Law, and Dan W Puchniak is a Professor of Law at Yong Pung How School of Law, Singapore Management University.

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In the long run: What leaders can learn from an Olympic gold medalist

Mckinsey and Company

Alistair Brownlee, a two-time Olympic gold medalist, shares his strategies for staying resilient amid pushback, removing barriers to creating habits, and leading with conviction.

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The Activism Vulnerability Report

Harvard Corporate Governance

Posted by Jason Frankl, Brian G. Kushner, and Kurt Moeller, FTI Consultin, on Wednesday, July 10, 2024 Editor's Note: Jason Frankl and Brian G. Kushner are Senior Managing Directors and Kurt Moeller is a Managing Director at FTI Consulting. This post is based on a FTI Consulting memorandum by Mr. Frankl, Mr. Kushner, Mr. Moeller, Tom Kim , and Ryan Chiang.

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Helping boards manage geopolitical risk with Jon Huntsman Jr.

Mckinsey and Company

In a conversation with the board director and former diplomat, two McKinsey experts offer advice on how boards can guide their organizations through volatile times.

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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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Statement Regarding the Activision Amendments

Harvard Corporate Governance

Posted by Michael Hanrahan, Prickett, Jones & Elliott, P.A., on Wednesday, July 10, 2024 Editor's Note: Michael Hanrahan is Director at Prickett, Jones & Elliott, P.A. and Litigator in the Delaware Court of Chancery. This post is based on his recent statement and is part of the Delaware law series ; links to other posts in the series are available here.

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How Beautycounter Fell Apart, Sinking Almost $700 Million With It

NYT M&A

When the private equity firm Carlyle bought Beautycounter, the skin care brand that people sold at kitchen tables, everything changed.

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Solving Puzzles Makes Me A Better Lawyer

Law 360 M&A

Tackling daily puzzles — like Wordle, KenKen and Connections — has bolstered my intellectual property litigation practice by helping me to exercise different mental skills, acknowledge minor but important details, and build and reinforce good habits, says Roy Wepner at Kaplan Breyer.

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Workflow insights from the 2024 Tax Professionals Report

ThomsonReuters

It’s back to business fundamentals for many tax and accounting firms as 2024 shapes up to be a year of re-assessment and re-building, according to the Thomson Reuters Institute 2024 State of Tax Professionals Report. Jump to: A deeper look at efficiency and automation The intersection of challenges and priorities in tax workflows A bright future awaits in workflow for tax professionals According to the survey, firms are taking stock of their strengths and weaknesses this year — and moving forwar

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Comment on Fannie, Freddie’s Offshore Gambit Imperils Privacy of Millions by Mike Ford, AGA

Appraisers Blog

I choose not to feed the beast. I havent done, and will not do work for Clear Crapital. Their past record among appraisers is not one that makes me willing to do business with them. The best I can say about them is ‘at least they arent Clear Value’, though it is so hard to tell them apart based on reputations.

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Chevron's End Won't Affect Cubs Sale Tax Suit, 7th Circ. Told

Law 360 M&A

An anti-abuse rule the IRS is using to push for taxes on gains from Tribune Media Co.'s sale of the Chicago Cubs is not threatened by the U.S. Supreme Court ruling overturning the Chevron deference doctrine, an attorney for the IRS told the Seventh Circuit on Wednesday.

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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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Comment on Fannie, Freddie’s Offshore Gambit Imperils Privacy of Millions by Pat

Appraisers Blog

Some of you fine people know me and my fighting spirit. However, today a friend of mine has a friend that was at a recent Fannie meeting where they directly said their goal is to have to get 90% less appraisals ASAP. Where is the Fed, CFPB, Congress, OCC??? DAMN IF THIS MAKES ANY SENSE OR REASON AT ALL. At least the you know who’s will go down TOO!!!

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AMD to buy Silo AI for $665mn in drive to compete with Nvidia

Financial Times M&A

All-cash acquisition by California-based chipmaker is the largest of its kind in Europe in a decade

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Comment on Another ‘Bad’ Word to Avoid! by Maria

Appraisers Blog

In reply to PJTC. Can you, please, post Fannie Mae’s reply here? I would like to include it in my reports too. Or, could you, please, send it to: grappraisal@gmail.com. I would greatly appreciate it!!

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The $5B Club: Irrationality in Generative AI valuation

Equidam

How do you value startups creating foundational LLMs, or related generative AI technologies? So far in 2024, according to Coatue , AI represents 3% of venture capital deals, and 15% of the capital. These rounds have been at roughly 5x the valuation of non-AI companies, with 6x the round size. There’s heat, but how do we understand the extent to which it connects with value?

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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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Comment on Fannie, Freddie’s Offshore Gambit Imperils Privacy of Millions by Ted Rogers

Appraisers Blog

Why wasn’t this “oh no, they’re sending pictures of US homes outside of our country” brought up back in Sept. 2022? Clear Capital, a national real estate valuation technology company, today announced it has completed the acquisition of CubiCasa, a Finland-based proptech startup. – [link] And I can tell you with 100% certainty, although they got “acquired” by a US company, the images CubiCasa is using for their AI models are DEFINITELY NOT in the USA.

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What's Going On With 10x Genomics Stock On Wednesday?

Benzinga

Wednesday, Illumina Inc (NASDAQ: ILMN ) acquired Fluent BioSciences to expand its reach in single-cell analysis and multiomics research for an undisclosed consideration. Amid this M&A deal, 10x Genomics, Inc (NASDAQ: TXG ) shares are trading lower. William Blair writes that Fluent’s PIPseq single-cell technology does not require an instrument, and costs per cell is at least 50% less than 10x and is the cheapest on the market, citing a recent bioRxiv preprint.

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Comment on Another ‘Bad’ Word to Avoid! by Tom

Appraisers Blog

To lighten the load somewhat from discussions about current highly restrictive language use in appraisal reports that tends to circumvent actual reality

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Hawaiian Holdings Surges 6.1%: Is This an Indication of Further Gains?

Benzinga

Hawaiian Holdings (NASDAQ: HA ) shares rallied 6.1% in the last trading session to close at $13.80. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 2.2% loss over the past four weeks. Shares of Hawaiian Holdings have been gaining over the last few trading days as investors await the U.S.

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Comment on Another ‘Bad’ Word to Avoid! by Will

Appraisers Blog

To lighten the load somewhat from discussions about current highly restrictive language use in appraisal reports that tends to circumvent actual reality

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Inside the SEC’s New Vendor Management Requirements

N Contracts

Broker-dealers, investment companies, and registered investment advisers (RIAs) have always been responsible for protecting consumers' private information. Now, an update to the SEC’s Regulation S-P extends that responsibility to their third-party service providers – requiring financial firms to increase oversight of vendors with access to protected information.

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HubSpot Stock Sinks After Alphabet Pulls Plug On Potential Deal: What You Need To Know

Benzinga

HubSpot Inc (NYSE: HUBS ) shares turned sharply lower in afternoon trading Wednesday following reports that Alphabet Inc (NASDAQ: GOOG ) (NASDAQ: GOOGL ) has shelved interest in acquiring the cloud-based customer platform company. What Happened: According to a Bloomberg report citing people with knowledge of the matter, Google parent Alphabet has ditched its efforts to acquire HubSpot after the two companies failed to reach detailed discussions on a potential deal.

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How to Improve SaaS Cash Flow

Lighter Capital

Managing cash flow has always been an important part of growing a successful SaaS startup, but changes in the economic environment — higher interest rates and picky VCs — have moved startup cash flow to center-stage. Investors and money lenders both expect startups to have healthy cash flow. That might sound like a Catch-22 for early-stage SaaS startups that typically burn a lot of cash to gain traction and secure additional funding.

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'Apocalyptic' Manhattan Real Estate Deals Keep Coming — Sector Mayhem Or Investment Opportunity?

Benzinga

Fed Chair Jerome Powell said Tuesday the commercial real estate sector will remain under stress for some time. "It is a risk that has been with us and will be with us for some time, probably for years," Powell told the Senate Banking Committee. "And banks need to be honestly assessing what their risk is." Many real estate assets purchased before the Covid-19 pandemic with loans from banks and other financial institutions are now worth less than the loans.

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Nasdaq Says It's Immune To SPAC's 'Racial Animus' Claims

Law 360 M&A

The Nasdaq Stock Market has asked a Brooklyn federal judge to toss claims it "arbitrarily and capriciously" derailed a minority-led special purpose acquisition company's plans, arguing in a Wednesday filing that it's immune to such claims as a self-regulatory organization.

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Honeywell's $1.81B Power Play: Acquires Air Products' LNG Tech to Lead Energy Transition

Benzinga

Honeywell International Inc (NASDAQ: HON ) has agreed to acquire Air Products And Chemicals, Inc.’s (NYSE: APD ) liquefied natural gas (LNG) process technology and equipment business for $1.81 billion in an all-cash transaction. This acquisition, which is approximately 13 times the estimated 2024 EBITDA, will significantly enhance Honeywell’s energy transformation offerings.

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Skydance, Paramount Unlikely To Hit Regulatory Roadblocks

Law 360 M&A

After Skydance Media and Paramount Global finally inked a deal to merge, the parties will move through a 45-day go-shop period and a review from U.S. regulators, but experts told Law360 the deal is unlikely to hit any antitrust obstacles.

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Why Is Small Cap Amylyx Pharmaceuticals Stock Trading Higher On Wednesday?

Benzinga

Amylyx Pharmaceuticals Inc (NASDAQ: AMLX ) acquired avexitide from Eiger BioPharmaceuticals Inc (OTC: EIGRQ ) for $35.1 million. Avexitide is an investigational, first-in-class glucagon-like peptide-1 (GLP-1) receptor antagonist that has been evaluated in five clinical trials for post-bariatric hypoglycemia (PBH) and has also been studied in congenital hyperinsulinism (HI), two indications characterized by hyperinsulinemic hypoglycemia.

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Thoma Bravo's Qualtrics Bid Fell Short, SAP Tells Chancery

Law 360 M&A

Thoma Bravo LP may have offered $1.2 billion more than the Silver Lake Management to buy Qualtrics International Inc. from software company SAP SE in 2023, but other aspects of the bid were less attractive than Silver Lake's $12.5 billion offer, an attorney for SAP directors told Delaware's Court of Chancery on Wednesday.

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Victory Capital to Buy Amundi US Business, Form Alliance

Benzinga

Victory Capital Holdings, Inc. (NASDAQ: VCTR ) has signed a definitive agreement with Amundi regarding their previously disclosed transaction, aiming to enter into mutual distribution agreements and combine the company with Amundi's US business. This strategic collaboration is in alignment with Victory Capital's inorganic growth strategy. In line with the Memorandum of Understanding announced on Apr 16, 2024, Amundi and Victory Capital have decided to enter into reciprocal 15-year distri

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Ellenoff-Led SPAC Raises $200M To Pursue Healthcare Merger

Law 360 M&A

SIM Acquisition Corp. I, a special-purpose acquisition company formed to pursue a healthcare merger, began trading Wednesday after pricing a $200 million initial public offering, represented by Ellenoff Grossman & Schole LLP and underwriters counsel Kirkland & Ellis LLP.

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Illumina Buys Fluent BioSciences To Gain Stronger Foothold In Single-Cell Analysis

Benzinga

Last month, Illumina Inc (NASDAQ: ILMN ) had to let go of Grail Inc. (NASDAQ: GRAL ). Still, the DNA sequencing company has acquired Fluent BioSciences to expand its reach in single-cell analysis and multiomics research. Launched in 2018, Fluent was backed by Illumina’s venture capital arm. Other investors include Samsara Biocapital, Civilization Ventures, Co-win Ventures and VC23.

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AdaptHealth Investor Attys Get 25% Of $51M Deal, With Caveat

Law 360 M&A

A Pennsylvania federal judge on Wednesday granted final approval to a $51 million settlement between AdaptHealth and investors over allegations tied to its merger with a blank check company, but the plaintiffs' counsel must wait for certain shares to be sold before they can collect their $12.8 million fee.

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Sun Acquisitions Facilitates the Sale of Chain O’ Lakes Transportation to Individual Buyer

Sun Acquisitions

Chicago, IL — July 10, 2024 — Sun Acquisitions, a prominent mergers and acquisitions firm in Chicago, announced the successful sale of Chain O’ Lakes Transportation, a provider of alternative transportation solutions, to strategic acquirer JW Chicago. JW currently operates similar transportation operations in the northeast and this geographic expansion is in line with their long-term plans.

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AMD To Buy European AI Biz In $665M Cash Deal

Law 360 M&A

Semiconductor company AMD, advised by Latham & Watkins LLP, on Wednesday announced plans to buy a private European artificial intelligence lab called Silo AI in an all-cash deal valued at roughly $665 million.

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