Fri.Aug 23, 2024

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Federal Court Issues Nationwide Injunction Blocking FTC Non-Compete Ban

Harvard Corporate Governance

Posted by Michael J. Schobel, Erica E. Aho, and Jonathan C. Nickas, Wachtell, Lipton, Rosen & Katz, on Friday, August 23, 2024 Editor's Note: Michael J. Schobel and Erica E. Aho are Partners and Jonathan C. Nickas is an Associate at Wachtell, Lipton, Rosen & Katz. This post is based on their Wachtell Lipton memorandum. On August 20, 2024, Judge Ada Brown of the U.S.

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Global Economics Intelligence executive summary, July 2024

Mckinsey and Company

The economy remains resilient, but data signals a deceleration; China followed earlier moves by the Central Bank of Brazil, and the European Central Bank by easing monetary policy, cutting rates twice in a month.

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7-Eleven Is a Hard Target for Couche-Tard to Land in Takeover Bid

NYT M&A

Convenience stores are a part of the country’s culture, meaning that the foreign buyout bid for 7-Eleven, the largest chain, could be a hard sell in Japan.

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Dual transformation: Optimizing the core and building new businesses

Mckinsey and Company

With the economy still in flux, established companies could potentially unlock and sustain growth by building new businesses while simultaneously transforming the core.

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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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Weekly Roundup: August 16-22, 2024

Harvard Corporate Governance

Posted by the Harvard Law School Forum on Corporate Governance, on Friday, August 23, 2024 Editor's Note: This roundup contains a collection of the posts published on the Forum during the week of August 16-22, 2024 Firm Boundaries and Voluntary Disclosure Posted by John D. Kepler (Stanford Graduate School of Business), on Friday, August 16, 2024 Tags: disclosures , SEC , Stakeholders , Supply chain The 2024 Proxy Season in 3 Charts Posted by Lindsey Stewart, Morningstar, Inc., on Saturday, Augus

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Significant change to federal estate tax exemption slated for January 1, 2026

LaPorte

But, now is the time to consider minimizing future estate tax liability. Having a solid estate plan in place is an important step in preserving… The post Significant change to federal estate tax exemption slated for January 1, 2026 first appeared on LaPorte.

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Will generative AI hurt middle managers—or help them?

Mckinsey and Company

Middle managers confront endless administrivia—and in many cases, burnout. Will gen AI threaten their jobs or lessen their burden?

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Comment on County Assessors’ Standards | AVM Final Rule Guidance by Baggins

Appraisers Blog

In reply to Pray Hard. Lenders and avm providers will be self certifying inflated values from heavily tainted data pools and will adjust proprietary avm programming on the fly with no external oversight. There is less than one year before this program runs full speed. Lender program participation will be mandatory. Read the final rule with commentary, first link, 190 pages.

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Does Your Manufacturing Business Need a CFO or a Controller?

Redpath

CFOs and controllers have overlapping but distinct responsibilities. Here's how to find out what's right for your manufacturing company.

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Comment on County Assessors’ Standards | AVM Final Rule Guidance by Josh Tucker

Appraisers Blog

This makes too much sense. It’s another rule that the regulators essentially told the banks and lenders to enforce. Just like they told banks and lenders to enforce AIR, Customary & Reasonable Fees, and to audit their AMCs to adhere to these items. That didn’t happen, and neither will this.

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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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Stryker's Inks Deal to Aid Its Pain Management Portfolio

Benzinga

Stryker Corporation (NYSE: SYK ) recently announced a definitive agreement to acquire Vertos Medical Inc., a privately held company providing a minimally invasive solution for treating chronic lower back pain caused by lumbar spinal stenosis. As a result of the acquisition, Stryker is set to expand its minimally invasive pain management portfolio with differentiated treatments and expand its reach across ambulatory surgery centers.

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Comment on County Assessors’ Standards | AVM Final Rule Guidance by Pray Hard

Appraisers Blog

And there it is again. I swear, I saw it. “Determine value” Right there in the first or second paragraph. Hard to believe. News flash, we don’t determine value. The only two things that determine value are the courts and the market, regardless of what the rest of sentient existence claims. It’s a little tidbit to keep in mind.

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Valutico Announces 7 New Features

Valutico

Valutico | Aug 27th 2024 The Valutico team is excited to announce a host of new features that are now live on our main valuation platform. Check out the latest upgrades below, and stay tuned for more exciting developments coming in October 2024. 1. Business Forecasting is Now Automatic What? ValuPlan is Valutico’s revolutionary tool that automates business growth forecasting and plan generation with an innovative benchmarking process, allowing for automatically-generated projections.

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Comment on County Assessors’ Standards | AVM Final Rule Guidance by Dave

Appraisers Blog

For example, the effectiveness and accuracy of the CAMA systems are assessed against established standards for ratio studies and mass appraisal set by the IAAO. The transparency and public availability of these standards enhance confidence in the assessment process by enabling results to be independently verified and replicated. NOT – This is complete BS – All CAMA models use the “Cost Approach” with little or no market support.

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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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Italian Prosecutors Open Criminal Probe Into Yacht Sinking

Law 360 M&A

Italian prosecutors said Saturday that they have opened a criminal investigation into the sinking of a superyacht that claimed the lives of seven people including a partner at Clifford Chance LLP and his client, British technology mogul Mike Lynch.

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Comment on Objectionable Valuations Become Hate Speech, Inflating Home Prices by MARTIN D KNUDSON

Appraisers Blog

The censorship of appraisers has done real damage to borrowers & the purchasers of bonds issued by the government-sponsored mortgage giants.

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Ex-Exec Can't Reverse Medtronic Insider Trading Conviction

Law 360 M&A

A Minnesota federal judge on Friday declined to overturn fraud convictions against a former executive of a medical robotics firm, finding the insider tips he provided to a friend ahead of Medtronic's $1.6 billion acquisition of his company were not speculative.

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Dycom Eyes $275M Revenue Boost With $150M Black & Veatch Deal

Benzinga

Dycom Industries, Inc. (NYSE: DY ) has strategically positioned itself for significant growth with the acquisition of Black & Veatch's public carrier wireless telecommunications infrastructure business for $150 million. This acquisition is Dycom's largest ever in the wireless services space, underlining its strategic importance in strengthening its capabilities in wireless construction services.

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NBA Shreds Warner Bros.' Suit Over Amazon Streaming Deal

Law 360 M&A

The NBA looked to quickly snuff out a lawsuit from Warner Bros. Discovery over its broadcasting deal with Amazon Friday, telling a New York state judge that the media conglomerate failed to match the streamer's offer and didn't even have the right to do so.

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5 Building Products Stocks Riding the Industry Wave

Benzinga

Increased government infrastructure spending is bolstering companies in the Zacks Building Products - Miscellaneous industry. Although potential challenges like macroeconomic uncertainties, high rates, low consumer confidence, new product investments, and rising raw material costs could squeeze margins, firms such as Advanced Drainage Systems, Inc. (NYSE: WMS ), Armstrong World Industries, Inc.

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Pot Entrepreneur Seeks To Ensure Judgment On Ex-Partner

Law 360 M&A

A cannabis entrepreneur urged a Colorado federal judge Friday to bar his former business partner from making any equity transactions until after the court has the opportunity to revisit a $6.4 million judgment ruling as part of a recent Tenth Circuit remand.

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Regional Banks Ramp Up M&A Deals to Strengthen Balance Sheet

Benzinga

The merger and acquisitions (M&A) activity among the U.S. regional banks is showing signs of a rebound this year following subdued 2023. More regional banks are resorting to M&As to strengthen their balance sheets amid enhanced competitiveness for low-cost deposits. Per Dealogic data, regional banks with assets between $10 billion and $100 billion have completed 38 deals year to date.

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Cantor, Lutnick OK $12M Deal To End View Inc. Suit In Del.

Law 360 M&A

Cantor Fitzgerald LP and its billionaire Chair and CEO Howard Lutnick on Thursday agreed to a $12 million settlement to resolve stockholder challenges to a special purpose acquisition company transaction that took window company View Inc. public, with a Delaware Court of Chancery hearing set for Dec. 6.

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Q2 2024 Earnings Calls

Auto Dealer Valuation Insights

Here is what auto retailer executives had to say during the Q2 2024 earnings calls. The major themes from the Q2 2024 Public Auto Earnings Calls are outlined and discussed below: In June 2024, CDK Global, a major provider of IT and software services for auto dealers, experienced a significant outage starting on June 19.

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Hong Kong Relaxes Listing Rules For Tech Startups, SPACs

Law 360 M&A

Hoping to spur more investment into emerging businesses amid a dry spell, Hong Kong's securities watchdog and stock exchange leaders on Friday unveiled relaxed listing rules for technology startups and eased requirements needed to clear mergers involving special purpose acquisition companies.

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Themes from Q2 Earnings Calls

Auto Dealer Valuation Insights

In our prior earnings call post, Themes from Q1 2024 Earnings Calls, we touched on how the Upstream (“E&P”) and Oilfield Services (“OFS”) segments emphasized their dividend and share buyback programs and the industry’s response to depressed natural gas prices.

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SPAC Investors Asks Full 9th Circ. To Rethink Lucid Merger

Law 360 M&A

Investors have urged the full Ninth Circuit to rethink a panel's refusal to revive their proposed class action alleging that Lucid duped them into buying stock in a special purpose acquisition company ahead of the electric vehicle maker's $11.75 billion merger, arguing that the panel's holding misconstrues U.S. Supreme Court precedent, among other issues.

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Valuing Asset Managers

Auto Dealer Valuation Insights

For this week’s post we’re introducing our updated whitepaper on valuing asset managers. Understanding the value of an asset management business requires some appreciation for what is simple and what is complex. On one level, a business with almost no balance sheet, a recurring revenue stream, and an expense base that mainly consists of personnel costs could not be more straightforward.

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Clinic Biz Can Tap Additional Ch. 11 Lifeline, Judge Says

Law 360 M&A

A Delaware bankruptcy judge agreed on Friday to allow clinic operator Pioneer Health to take on more debtor-in-possession financing as it works toward an asset sale, finding the latest arrangement to be in the debtor's best interest.

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Evolent Health Explores Sale, Garners Inbound Interest From Private Equity Firms

Benzinga

Evolent Health Inc (NYSE: EVH ) is reportedly up for sale. What Happened : The Arlington, Virginia-based software provide initiated an auction process after receiving takeover inquiries from private equity firms and healthcare providers. Among the potential suitors are private equity giants TPG Inc (NASDAQ: TPG ), Clayton, Dubilier & Rice (CD&R), and KKR & Co.

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Canada Mining Biz Seeks US Listing Via $589M SPAC Merger

Law 360 M&A

Canadian rare-earth miner Tactical Resources Corp. plans to go public in the U.S. by merging with special-purpose acquisition company Plum Acquisition III Corp. at an estimated value of $589 million, both parties announced on Friday, through a deal guided by four law firms.

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What Is Security Valuation? An Introduction to Valuing Investments

RNC

Imagine buying a new car – would you do it without knowing its true value? Probably not. Similarly, before investing in financial markets, understanding the true value of an asset is crucial. This is where the question of security valuation comes in. So, what is security valuation , and why does it matter to organizations? In this blog, we will explore the fundamentals of security valuation, its importance, and the methods used to assess the worth of investments by valuation services.

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Electric Car Co. Fisker Promises Ch. 11 Plan In A Week's Time

Law 360 M&A

A Delaware bankruptcy judge Friday gave defunct electric-vehicle maker Fisker Inc. permission to enter into a deal with its lenders that will see it file a Chapter 11 plan by the end of August and seek court approval for the plan in just over a month.

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How Asset Valuation Impacts Financial Audits

RNC

Have you ever wondered how the value of assets influences the overall picture of an organization’s financial health? Or why asset valuation is so critical during financial audits? The valuation of assets in auditing is not just a number-crunching exercise; it’s a vital aspect of financial audits that can make or break an organization’s financial integrity.