Wed.Oct 23, 2024

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The role of power in unlocking the European AI revolution

Mckinsey and Company

The rise of AI is driving data center demand and shifting power market dynamics. With European demand predicted to more than triple by 2030, significant investments are needed to realize this growth.

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Can BlackRock land private credit’s ‘big whale’ HPS?

Financial Times M&A

After years of preparation, the pioneering alternatives firm is on the verge of a deal or IPO

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Trending Sources

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Gen AI in corporate functions: Looking beyond efficiency gains

Mckinsey and Company

Generative AI is already adding value for corporate and business functions. Here’s how it could add more.

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Freezeouts of Cross-Listed Issuers

Harvard Corporate Governance

Posted by Fernan Restrepo (UCLA) and Guhan Subramanian (Harvard Business School), on Wednesday, October 23, 2024 Editor's Note: Fernán Restrepo is an Assistant Professor of Law at the UCLA School of Law, and Guhan Subramanian is the Joseph H. Flom Professor of Law and Business at Harvard Law School and the H. Douglas Weaver Professor of Business Law at Harvard Business School.

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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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Electricity demand in Europe: Growing or going?

Mckinsey and Company

New analysis suggests that much of Europe’s anticipated electricity demand growth may not materialize, with important implications for the energy transition and industrial competitiveness.

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2024 Corporate Governance and Incentive Design Survey

Harvard Corporate Governance

Posted by Sam Bricker, Tyler Papineau, and Edward Hauder, Meridian Compensation Partners, on Wednesday, October 23, 2024 Editor's Note: Sam Bricker is a Senior Consultant, Tyler Papineau is a Consultant, and Edward Hauder is a Principal and Head of Research & Content at Meridian Compensation Partners. This post is based on their Meridian Compensation Partners memorandum.

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Banks Seek Ways To Manage Data Quality For AI Services

Global Finance

The use of AI in finance has been a hot topic at this year’s Sibos conference, as banks consider how AI can transform the way financial services are delivered and consumed, and, more urgently, how its data is managed. The use of Large Language Models (LLMs) to increase efficiency, improve customer service, and enhance decision-making has been part of the conversation since the launch of ChatGPT by OpenAI in November 2022.

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A wake-up call to tap into digital wealth

Mckinsey and Company

A huge shift of personal financial assets to digital wealth managers in Asia–Pacific is on the horizon. Our latest insights reveal how banks and WealthTechs are taking action.

Banking 117
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J.P. Morgan Mints ‘Always-On’ Clearing

Global Finance

J.P. Morgan has just announced a new global clearing offering, Wire365, that supports the complete range of global US dollar wire products and operates 24/7, seven days a week. “Although our clearing systems, like the [US Federal Reserve’s Fedwire], don’t currently operate 24/7 when they do, we will be ready,” says Gayathri Vasudev, global head of cross-border payments at J.P.

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How can tech-enablement make capital projects win big?

Mckinsey and Company

With capital project leaders expected to raise spending, McKinsey’s senior partner Ishaan Nangia and partner Jae Hoon Jung describe how companies blend tech and talent to maximize returns.

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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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HSBC Simplifies Trade Finance For Chinese SMEs

Global Finance

HSBC announced at Sibos on Wednesday that it is expanding the trade financing solutions it offers to businesses trading on e-commerce platforms in mainland China and Hong Kong, following the successful launch of its collaboration with Dowsure Technologies. Small and midsized enterprises (SMEs) typically face challenges securing trade finance, but by using real-time commercial data through Dowsure, HSBC can offer finance to sellers based on their transaction data.

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The next big arenas of competition

Mckinsey and Company

Arenas are industries that transform the business landscape. Eighteen future arenas could reshape the global economy and generate $29 trillion to $48 trillion in revenues by 2040.

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The New M&A Landscape: Proprietary Deal Flow and Platform Acquisitions in the Lower Middle Market

Scott Mashuda

What distinguishes exceptional dealmakers in today’s M&A landscape ? The ability to understand, anticipate, and navigate economic dynamics with clarity and confidence. This skill has become particularly crucial in light of recent monetary policy shifts – we’re looking at you Federal Reserve – especially for owners and founders who are ready to transition ownership of their businesses or grow through acquisitions.

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Education for all: An interview with Dr. Sven Schütt

Mckinsey and Company

The head of Europe’s largest private university group believes that AI technologies are critical to advancing the institution’s mission of flexible, personalized higher education.

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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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CityFleet to buy Addison Lee in £269mn deal

Financial Times M&A

Purchase by Singaporean-owned group is third change of ownership in just over a decade for UK private hire taxi firm

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Author Talks: Is ‘now’ the right time to leave your job?

Mckinsey and Company

Feeling undervalued and overworked, especially amid year-end performance reviews, might be a signal it’s time to leave. Learn from an expert whether it’s a temporary slump or time for a new beginning.

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Employers: In 2025, the Social Security Wage Base Is Going Up

Machen McChesney

As we approach 2025, changes are coming to the Social Security wage base. The Social Security Administration recently announced that the wage base for computing Social Security tax will increase to $176,100 for 2025 (up from $168,600 for 2024). Wages and self-employment income above this amount aren’t subject to Social Security tax.

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UK watchdog formally investigates Carlsberg’s £3.3bn takeover of Britvic

The Guardian M&A

CMA sets 18 December deadline for initial review as it considers whether deal could reduce competition The UK’s competition watchdog has launched a formal investigation into the £3.3bn takeover of the UK soft drinks maker Britvic by the Danish brewer Carlsberg. The Competition and Markets Authority (CMA) has set the deadline of 18 December for the first phase of its investigation into the deal.

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What's Going On With Spirit Airlines Stock Wednesday?

Benzinga

Spirit Airlines, Inc. (NYSE: SAVE ) shares are moving higher Wednesday following the resurgence of merger talks with Frontier Group Holdings Inc. (NASDAQ: ULCC ). What To Know: Frontier is once again exploring a takeover deal with Spirit Airlines as Spirit engages with bondholders over a potential bankruptcy filing, according to the Wall Street Journal.

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Frasers Group criticises management of Mulberry after ditching takeover plans

The Guardian M&A

Mike Ashley’s retail group says it ‘remains concerned about governance’ at luxury brand after final bid rejected Mike Ashley’s Frasers Group has criticised the management of Mulberry as it walked away from its attempts to take over the luxury handbag maker after a series of rejected offers. Frasers, which is Mulberry’s second-largest shareholder with a 37% stake, had made several offers for the fashion brand, culminating in a £111m bid this week, all of which have been rebuffed.

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Altair Engineering Shares Jumped On Wednesday: What Happened?

Benzinga

Altair Engineering Inc. (NASDAQ: ALTR ) shares were up Wednesday following reports that Siemens AG is in discussions to acquire the company. The Details: Siemens, a German engineering firm, has reportedly consulted with advisers on a potential acquisition of Michigan-based Altair, according to Bloomberg. Altair provides engineering software solutions across multiple sectors, including aerospace, automotive, energy and financial services.

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Deutsche Bank is a long way off playing German consolidator

Financial Times M&A

Trying to prise Commerzbank from UniCredit’s jaws would be a distraction the lender cannot afford

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Ophthalmic Biopharmaceutical Ocuphire Pharma Shifts Focus To Gene Therapy Through Opus Genetics Stock Deal

Benzinga

On Wednesday, Ocuphire Pharma, Inc. (NASDAQ: OCUP ) announced the all-stock acquisition of Opus Genetics, Inc. , a clinical-stage gene therapy company for inherited retinal diseases (IRDs). The merger creates a biotech company focused on developing gene therapies for IRDs. The combined company will be renamed Opus Genetics, effective October 23, 2024, and trade on the Nasdaq under the “IRD” ticker, effective October 24, 2024.

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Understanding Discrepancies Between the Appraised Value and Purchase Price

Peak Business Valuation

Whether you are buying a business or financing a business , understanding the fair market value of the business is key. A business valuation provides this value, but sometimes it comes in different than the purchase price. As such understanding why the appraised value of a business differs or comes in lower than the purchase price is essential. When a business valuation comes back lower than the purchase price understanding the price discrepancy is important.

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Constructing a More Collaborative Internal Audit Team

Internal Audit 360

GUEST BLOG POST I nternal Audit teams today face mounting pressure to address emerging risks, adapt to rapid technological changes, and meet rising regulatory demands, all while demonstrating audit value with limited resources. One way to meet these challenges is through greater collaboration both within the internal audit team and with others throughout the organization.

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UK Clears Acerinox's $800M Bid For Haynes International

Law 360 M&A

The U.K. antitrust watchdog said Thursday that it has waved through the planned $798 million takeover by stainless steel manufacturer Acerinox of Haynes International, which makes alloys, during the initial phase of its probe.

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Atlantic Union Bankshares To Acquire Sandy Spring Bancorp For $1.6B, Creating $39B Regional Banking Powerhouse

Benzinga

Atlantic Union Bankshares Corp (NYSE: AUB ) has announced its acquisition of Sandy Spring Bancorp Inc (NASDAQ: SASR ) for $1.6 billion, marking the fourth regional bank deal exceeding $1 billion this year. What Happened : The all-stock transaction will enhance Atlantic Union’s presence in Northern Virginia and Maryland, creating a regional powerhouse with $39.2 billion in assets, Reuters reported.

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BREAKING: Biden Names Judicial Nominees For Calif. Courts

Law 360 M&A

President Joe Biden on Wednesday announced two new judicial nominees for the Central District of California and Southern District of California, picks that include a Los Angeles County judge and federal magistrate judge.

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2024 NADC Fall Conference Update

Auto Dealer Valuation Insights

David Harkins and I attended the National Association of Dealer Counsel (“NADC”) fall conference in our home city of Nashville, Tennessee, this past week. The conference took place from Sunday, October 13th to Tuesday, October 15th, and conference attendees included attorneys, auto dealer principals, in-house counsel, and vendors/service providers like us.

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Kroger Implies Wash. AG Opposes Merger To Run For Gov.

Law 360 M&A

The Kroger Co. on Wednesday slammed Washington state's lawsuit targeting its proposed $24.6 billion merger with Albertsons during closing arguments, telling the trial judge that it needlessly duplicates the Federal Trade Commission's antitrust case and suggesting that the state's attorney general was out to boost his campaign for governor.

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Why Lost-Premium Damages in M&A Should Be Legal

Reynolds Holding

Are “lost-premium” provisions – clauses that typically allow a target to recoup the premium its shareholders were denied because a buyer wrongfully backed out of a deal – enforceable? In a surprising decision last year, the Delaware Court of Chancery said they were not. We argue in a new article, however, that they are both doctrinally defensible and economically sensible. [1] The Chancery Court’s ruling in Crispo v.

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Del. Justices Urged To Revive Oracle-NetSuite Deal Challenge

Law 360 M&A

An attorney for Oracle Corp. stockholders rattled off a barrage of alleged disclosure failures, analytical flaws and errant deference decisions Wednesday during a Delaware Supreme Court appeal from the Chancery Court's toss last year of a challenge to the company's $9.3 billion acquisition of NetSuite Corp. in 2016.

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Transom Capital-backed Artivo Surfaces Acquires Tom Duffy Company

Benzinga

LIVONIA, Mich. and LOS ANGELES, Oct. 23, 2024 (GLOBE NEWSWIRE) -- Artivo Surfaces, the Transom Capital-backed parent company of Virginia Tile, Galleher, and Trinity Hardwood, is acquiring Tom Duffy Company, a strategic move that significantly strengthens Artivo's position as a market leader in the tile and flooring industry. With its extensive portfolio of installation materials, hardwood, luxury vinyl tile (LVT), and tile solutions, Tom Duffy brings valuable expertise and a diverse product

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Chancery Mulls Call To Toss $7B Focus Financial Merger Suit

Law 360 M&A

An attorney for private equity firm Stone Point Capital told Delaware's chancellor Wednesday that there was no control group formed before the $7 billion August 2023 go-private merger between Focus Financial Partners Inc. and Clayton Dubilier & Rice LLC, and that a ruling otherwise would "lower the bar" for control allegations.