Mon.Sep 23, 2024

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Securities Law Updates

Harvard Corporate Governance

Posted by David A. Bell, Ran Ben-Tzur, and Amanda Rose, Fenwick & West LLP, on Monday, September 23, 2024 Editor's Note: David A. Bell , Ran Ben-Tzur , and Amanda Rose are Partners at Fenwick & West LLP. This post is based on a Fenwick memorandum by Mr. Bell, Mr. Ben-Tzur, Ms. Rose, and Merritt Steele.

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IVSC Perspectives Paper – ESG and Real Asset Valuation

IVSC

ESG and Real Asset Valuation The IVSC publishes Perspectives Papers to explore critical topics and emerging trends in valuation. These papers aim to engage the global valuation community, offering insights and fostering discussions on how the International Valuation Standards (IVS) can be applied in various contexts. While these papers provide valuable guidance, they do not replace the IVS, which remains the definitive framework for valuation professionals.

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ESG Overperformance? Assessing the Use of ESG Targets in Executive Compensation Plans

Harvard Corporate Governance

Posted by Adam Badawi (UC Berkeley) and Robert Bartlett (Stanford Law School), on Monday, September 23, 2024 Editor's Note: Adam Badawi is a Professor of Law at UC Berkeley and Robert Bartlett is the W. A. Franke Professor of Law and Business and Faculty Co-Director of the Arthur and Toni Rembe Rock Center for Corporate Governance at Stanford Law School.

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Update on Artificial Intelligence—Superconvergence

BVR

Get a look at some of the futuristic concepts discussed in the book Superconvergence and look at how AI factors into all of it.

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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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13F rulemaking petition

Harvard Corporate Governance

Posted by Ted Allen, The Society for Corporate Governance, on Monday, September 23, 2024 Editor's Note: Ted Allen is a Vice President at The Society for Corporate Governance. This post is based on a recent petition by The Society for Corporate Governance, NIRI, and NYSE, signed by Mr. Allen, Matthew D. Brusch, and Chris Taylor. The Society for Corporate Governance (“Society”), the National Investor Relations Institute (“NIRI”), and NYSE Group, Inc.

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Tempur Sealy Sets Divestiture Plan Ahead Of FTC Court Battle

Law 360 M&A

Tempur Sealy International Inc. said Monday that it plans to sell 176 stores and seven distribution centers to Mattress Warehouse if it is able to close its planned $4 billion purchase of Mattress Firm Group Inc., in an effort to appease the Federal Trade Commission in its continued efforts to block the deal.

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Why should you get your small business valued?

BV Specialists

Getting your small business valued is essential, especially if you want to make informed financial and strategic decisions. Here are some key reasons why a business valuation is crucial: Understanding the True Value of Your Business/Internal Planning An appraisal helps you understand what your business is actually worth. Many owners have a general idea, but a formal valuation gives you a clear, objective figure based on market trends, financials, and future potential.

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A road map for revving up the Asian electric two-wheeler market

Mckinsey and Company

As demand for electric two-wheelers takes off, Asian and European OEMs can collaborate to navigate shifting markets.

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Fifth Circuit Ruling Underscores a Shortcoming of the SEC Whistleblower Program

Reynolds Holding

Whistleblowers who exposed what has been called “one of the biggest frauds in Texas history” are not eligible to receive Securities and Exchange Commission (SEC) whistleblower awards based on the collections recovered in a bankruptcy proceeding, according to a recent ruling by the United States Court of Appeals for the Fifth Circuit. The Fifth Circuit ruling, in Barr v.

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UniCredit lifts stake in Commerzbank to 21%

Financial Times M&A

Italian bank says purchase will complete only once it receives regulatory approval to increase holding from 9%

Banking 104
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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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When we are to blame for a business risk

Norman Marks

Sometimes, auditors are responsible for a serious risk continuing. At Business Objects, I attended an audit committee (I was the VP, Internal Audit) when the two EY partners reported that their testing of internal controls had identified a serious weakness.

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One way or another, Intel is for sale

Financial Times M&A

Tech group wants to remain both a cutting-edge designer and manufacturer of chips

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Qualcomm Takeover Of Intel Is 'Logically Unlikely' In Face Of Regulatory Challenges, Analyst Says

Benzinga

Don’t expect Qualcomm Inc. (NASDAQ: QCOM ) to buy Intel Corporation (NASDAQ: INTC ), Benchmark analyst Cody Acree says. Apollo Global Management (NYSE: APO ) intends to make a $5-billion investment in Intel. This development occurred after the Wall Street Journal reported that Qualcomm was interested in acquiring Intel outright — a deal Acree says “was particularly thin on specific details.” Benchmark analysts “believe Qualcomm's ultimate acquisition of Intel is logi

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The big shift: Moving commercial vehicle OEMs to centralized E/E and Software

Mckinsey and Company

A software-centric strategy can help commercial vehicle OEMs transition to electrical/electronic architectures with centralized computing and hardware–software separation, unlocking new opportunities.

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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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BNP Paribas to buy HSBC’s German private banking arm

Financial Times M&A

French lender accelerates expansion drive after selling assets in US while HSBC makes cost-cutting a priority

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Zacks Industry Outlook Highlights Performance Food, Sprouts Farmers Market and SpartanNash

Benzinga

Industry: Natural Food Companies in the Zacks Natural Foods Products industry have been reaping the benefits of growing consumer health awareness and the rising demand for nutritious, wholesome products. To capitalize on this trend, many companies are expanding their product lines with innovative offerings and strategic acquisitions. Some industry players are increasing investments in digital capabilities to enhance customer engagement and streamline operations.

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Commerzbank lacks a good defence for UniCredit’s ‘frenemy’ hug

Financial Times M&A

Blocking a richly priced offer purely on ideological grounds could be tricky

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Sun Acquisitions Facilitates Successful Sale of American Heritage Fireplace

Sun Acquisitions

Chicago, IL, September 18, 2024 – Sun Acquisitions, a leading mergers and acquisitions firm, is proud to announce the successful sale of American Heritage Fireplace (AHF) to a private investor. Founded in 1992 by John Dunlevy and Jim Sako, AHF quickly became a premier supplier, installer, and servicer of hearth products and outdoor living solutions.

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MSCI Shares Up 7% in a Year: Should You Buy, Hold or Sell the Stock?

Benzinga

MSCI (NYSE: MSCI ) shares moved up 6.7% in the past year compared with the broader Zacks Computer and Technology sector's return of 39.8% and the Zacks Business - Software Services sector's rise of 29.2%. The underperformance is likely to have been caused by a tighter spending environment and longer sales cycles due to challenging macroeconomic conditions.

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Sun Acquisitions Facilitates Sale of Renowned Bar Supply Manufacturer Spill-Stop Mfg. LLC to North Park Group

Sun Acquisitions

Chicago, IL – September 18, 2024 – Sun Acquisitions, a leading mergers and acquisitions firm, is pleased to announce the successful sale of Spill-Stop Mfg. LLC, a renowned manufacturer and distributor of bar supplies, to North Park Group, a private family office investment group. Spill-Stop, founded by Fritz Katsky in 1935, boasts a rich history. Daniel Silverstein joined the company in 1945 and eventually took ownership in 1951.

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Uranium Energy Strikes $175M Deal To Acquire Rio Tinto's Wyoming Assets

Benzinga

Uranium Energy Corp. (AMEX: UEC ) shares are trading higher on Monday. The company disclosed a deal to fully acquire Rio Tinto Plc ‘s (NYSE: RIO ) Wyoming assets for a purchase price of $175 million. As per the deal, the buyout includes the fully licensed Sweetwater Plant and a portfolio of uranium mining projects with around 175 million pounds of historic resources.

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Comment on New UAD Overhaul: What Appraisers Can Expect in 2025 & Beyond by Lou Stewel

Appraisers Blog

The new UAD may slow down the appraisal process, drive up turnaround times without offering a substantial enhancement in appraisal accuracy.

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Qualcomm's Potential Intel Buyout Could Face Antitrust Hurdles, Analysts Reveal: 'Intriguing On Many Levels'

Benzinga

A potential acquisition of Intel Corp. (NASDAQ: INTC ) by Qualcomm Inc. (NASDAQ: QCOM ) could speed up Qualcomm’s diversification but may burden the chipmaker with Intel’s struggling semiconductor manufacturing unit. What Happened : Analysts have expressed concerns that the deal will face rigorous antitrust scrutiny globally, as it would merge two major chip firms, creating a giant with significant market shares in smartphones, PCs, and servers.

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Driving the future: How connectivity will shape the truck industry

Mckinsey and Company

Connected services can bring significant value to commercial vehicles—but industry stakeholders must work together to make it happen.

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Apollo Silver to Option Cinco de Mayo Project, Chihuahua, Mexico

Benzinga

VANCOUVER, British Columbia, Sept. 23, 2024 (GLOBE NEWSWIRE) -- Apollo Silver Corp. (" Apollo Silver " or the " Company ") ((TSX.V:APGO, OTCQB: APGOF , Frankfurt:6ZF0)) has entered into an exploration, earn-in and option agreement (the " Option Agreement "), dated effective September 20, 2024, with MAG Silver Corp. (" MAG ") (TSX: MAG ) and its subsidiary, Minera Pozo Seco, S.A. de C.V. (" MPS "), pursuant to which Apollo Silver has the option (the " Transaction ") to acquire the Cinco de Mayo P

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The EU’s competition policy conundrum

Financial Times M&A

Antitrust rules in the bloc need updating for the digital era — but with care

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AMA: Stuart Davis, co-founder of Dubs

Vested

Recently named 'Manufacturing & Engineering StartUp of the Year' at the 2024 UK StartUp Awards , Dubs make fun, stylish and (most importantly) sustainable footwear for kids.

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Swedish buyout group EQT plans to sell stake in €15bn software group IFS

Financial Times M&A

Private equity firms have been forced to sell slices of their businesses as higher interest rates have hit the IPO market

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BNP Paribas To Buy HSBC Banking Unit In Germany

Law 360 M&A

BNP Paribas SA said Monday that it has agreed to buy HSBC's private banking unit in Germany as part of its plans to expand its wealth management arm in a "key strategic market.

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Is Your Buy-Sell Agreement a Ticking Time Bomb?

Auto Dealer Valuation Insights

With the release of Chris Mercer’s new book, we’ve got buy-sell agreements top of mind, and you should, too. Buy-sell agreements don’t matter until they do. When written well and understood by all the parties, buy-sell agreements can minimize headaches when a family business hits one of life’s inevitable potholes.

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Swisscom's €8B Vodafone Italia Deal Gets EU Clearance

Law 360 M&A

Swisscom AG said Tuesday that Europe's competition authority has cleared its proposed €8 billion ($8.9 billion) acquisition of Vodafone Group PLC's Italian business under the bloc's foreign subsidies rules.

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EMCOR Hits 52-Week High: Is the Stock Still Worth Buying?

Benzinga

EMCOR Group, Inc. (NYSE: EME ) shares reached a new 52-week high of $437.10 on Friday. The stock pulled back to end the trading session at $435.60, gaining 1.3% that day. Impressively, the stock marked a 9.9% surge in the past five days. The move came in after the most awaited interest rate cut news, which boosted the overall market sentiments. On Wednesday, the Federal Reserve announced an interest rate cut by 50 cents to a range of 4.75% to 5%.

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Albertsons Says Wash. AG 'Cherry-Picked' Merger Fears

Law 360 M&A

Counsel for Albertsons accused Washington regulators Monday of cherry-picking comments from the grocer's CEO hyping Kroger as key competition to bolster the government's case for blocking the merger and overcame the state's objections to introduce emails where the CEO expressed fears about Costco, Walmart and Amazon's ever-expanding reach.

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VR Resources Closes Acquisition of Empire Properties in Northern Ontario and Commences Copper-Gold Exploration

Benzinga

VANCOUVER, British Columbia, Sept. 23, 2024 (GLOBE NEWSWIRE) -- VR Resources Ltd. ((TSX.V: VRR, FSE: 5VR, OTC: VRRCF ), the " Company ", or " VR ", is pleased to announce that it has successfully Closed the recently announced Acquisition Agreement for the Empire, Silverback and Golden Bear mineral properties (the "Properties"; see Figure 1 ) in northern Ontario, and plans to commence exploration on them immediately.

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