May, 2024

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Six Ways Cost Synergies Are A Benefit Of M&A

Benchmark Report

In any merger or acquisition, the buyer and seller anticipate synergy will be crucial. Synergy in M&A can manifest in several forms, but cost synergy is one of these critical areas. It is essential to note that cost synergy is not the same as revenue or financial synergy. We will delve into those topics in upcoming articles.

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Evolving lines of responsibility between the board and the management

Harvard Corporate Governance

Posted by Natalie Cooper, Bob Lamm, Deloitte LLP, and Randi Val Morrison, Society for Corporate Governance, on Saturday, May 4, 2024 Editor's Note: Natalie Cooper is Senior Manager at the Center for Board Effectiveness at Deloitte LLP; Bob Lamm is Independent Senior Advisor at the Center for Board Effectiveness at Deloitte LLP; and Randi Val Morrison is Senior Vice President and General Counsel at the Society for Corporate Governance.

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Trending Sources

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Chobani Yogurt Founder Buys Anchor Brewing Company

NYT M&A

Hamdi Ulukaya called the craft brewer, said to be the country’s oldest, a “grand jewel.” Anchor’s former owner, Sapporo, put it into liquidation last year, citing the effects of the pandemic.

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A new future of work: The race to deploy AI and raise skills in Europe and beyond

Mckinsey and Company

To gain the full productivity benefits of generative AI and other technologies, Europe and the United States will need to focus both on improving human capital and accelerating technology adoption.

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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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BBVA’s Carlos Torres, banker with a fixed idea

Financial Times M&A

The chair of Spain’s third-biggest lender has turned hostile in his €12bn second attempt to buy TSB owner Sabadell

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Lim Hwee Hua Appointed Chair of the IVSC Board of Trustees

IVSC

Former Singapore Government Minister and Deputy Speaker of the Singapore Parliament, Mrs Hwee Hua Lim, becomes the first Asian and female Chair of The IVSC. London, [Thursday 30 May, 2024] – The International Valuation Standards Council (IVSC) is pleased to announce the appointment of Mrs. Lim Hwee Hua as Chair of the IVSC Board of Trustees, effective June 2024.

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Sustainability Board Preparedness in Large Family Businesses

Harvard Corporate Governance

Posted by Frederik Otto and Michael Reed, The Sustainability Board, on Sunday, May 26, 2024 Editor's Note: Frederik Otto is Executive Director and Michael Reed is Director and Senior Advisor of the Institute for Sustainable Family Business at The Sustainability Board (TSB). This post is based on their TSB memorandum. In 2019, when we began our reporting cycle, a mere 54 of the 100 largest global companies had clearly defined sustainability oversight, with 16% of directors being ESG-engaged.

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U.S. Sues to Break Up Ticketmaster Owner, Live Nation

NYT M&A

Accused of violating antitrust laws, Live Nation Entertainment faces a fight that could reshape the multibillion-dollar live music industry.

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Strategic alliances for gen AI: How to build them and make them work

Mckinsey and Company

Strategic alliances are a must for companies looking to build value from generative AI. But approaching them like traditional vendor arrangements won’t work.

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Are UK boards ‘too hot to trot’ in selling off companies?

Financial Times M&A

More clarity is needed from government on which companies should be protected

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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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ValuAsia Connect Webinar Series: Intangible Assets

IVSC

Introduction Welcome to ValuAsia Connect, your gateway to the vibrant world of valuation in Asia! Following the success of our inaugural webinar , we are delighted to announce the second instalment of our series — ValuAsia Connect: Intangible Assets. Presented by the International Valuation Standards Council (IVSC) and the Institute of Valuers and Appraisers, Singapore (IVAS), this webinar explores the intricate domain of intangible asset valuation.

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Glencore-Anglo American Tie-Up Makes More Sense Than BHP Offer, Analyst Says

Benzinga

Diversified miners Glencore (OTC: GLNCY ) and Anglo American (OTC: NGLOY ) offer a better match than that proposed in BHP Group ‘s (NYSE: BHP ) offer for Anglo, RBC Capital Markets analyst Marina Calero said in a note to clients on Friday. Last week, Australia-headquartered BHP said it had made a $39 billion offer for London-based Anglo, which swiftly rejected the proposal as too low.

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Mapping TCFD to the IFRS S2 on Climate Disclosure

Harvard Corporate Governance

Posted by Subodh Mishra, Institutional Shareholder Services Inc., on Wednesday, May 15, 2024 Editor's Note: Subodh Mishra is Global Head of Communications at ISS STOXX. This post is based on an ISS-Corporate memorandum by Jacob McKeeman and Erica Chiorazzi. The inaugural IFRS Sustainability Disclosure Standards were released by the International Sustainability Standards Board (ISSB) in mid-2023, designed to establish a global baseline for corporate disclosures.

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DOJ to Sue Live Nation, Accusing It of Defending a Monopoly

NYT M&A

Live Nation Entertainment, the concert giant that owns Ticketmaster, faces a fight that could reshape the multibillion-dollar live music industry.

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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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In the spotlight: Performance management that puts people first

Mckinsey and Company

Performance management systems help people continuously develop—but most companies fall short of best practices. A set of defined design choices can help guide leaders forward.

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Janus Henderson set to march into Europe with Tabula acquisition

Financial Times M&A

The $335bn manager already has $14bn in active fixed-income ETFs in the US and is eyeing rapid growth in demand globally

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How accounting firms are innovating in 2024

ThomsonReuters

Jump to: 2024 top priorities Key Insights from the 2024 State of Tax Professionals Report Preparing your firm for the future In the ever-evolving landscape of tax and accounting, professionals are continually adapting to new challenges and opportunities. Having weathered the waves of post-pandemic anxiety, many tax & accounting firms are now shifting their attention back to business fundamentals.

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The Tragic Investment Banker Death: Should Senior Bankers Go to Jail for Killing Their Junior Staff?

Brian DeChesare

In case you’ve been offline for the past few days, it has happened yet again: An investment banker has died on the job. You can read about it in various threads on Wall Street Oasis , Reddit , eFinancialCareers , LinkedIn, and more, so I won’t repeat the full details here. In short, this banker was an Associate in the FIG team at Bank of America and had a very accomplished track record before joining the firm.

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The Missing “T” in ESG

Harvard Corporate Governance

Posted by Danielle Chaim (Bar-Ilan University), and Gideon Parchomovsky (Hebrew University of Jerusalem), on Wednesday, May 8, 2024 Editor's Note: Danielle Chaim is an Assistant Professor at Bar-Ilan University Faculty of Law, and Gideon Parchomovsky is Wachtell, Lipton, Rosen & Katz Chair in Corporate Law at the Hebrew University of Jerusalem and Robert G.

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U.S. Plans to Accuse Live Nation of Defending a Monopoly

NYT M&A

Live Nation Entertainment, the concert giant that owns Ticketmaster, faces a fight that could reshape the multibillion-dollar live music industry.

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What is deep learning?

Mckinsey and Company

Deep learning is a type of machine learning that is more capable, autonomous, and accurate than traditional machine learning.

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Paramount: the takeover battle that could reshape Hollywood

Financial Times M&A

The tussle for the venerable studio has been billed as the money men against the creatives, but the outcome may help decide who survives in the streaming era

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Southeast Asia Sees Venture Capital Drought

Global Finance

Southeast Asian economies survived the pandemic and post-pandemic pitfalls in solid shape. Indonesia, Philippines and Vietnam still rank among the world’s fastest growing large nations. The region’s financial center, Singapore, has expanded as global capital flees competing Hong Kong. So why is Southeast Asia’s startup engine stalling? Venture capital and private equity (VC/PE) flows in most regions have slowed as central banks raised interest rates to combat inflation.

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Alex Mowery Earns CPA Designation

Trout CPA

We are thrilled to announce that Alex Mowery, a dedicated member of the Trout CPA team, has recently earned his Certified Public Accountant (CPA) designation. This significant milestone is a testament to Alex's hard work and dedication.

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The Payoffs and Pitfalls of ESG Due Diligence

Harvard Corporate Governance

Posted by Ferdinand Fromholzer, Dirk Oberbracht, and Jan Schubert, Gibson, Dunn & Crutcher LLP, on Wednesday, May 15, 2024 Editor's Note: Ferdinand Fromholzer , Dirk Oberbracht , and Jan Schubert are Partners at Gibson, Dunn & Crutcher LLP. This post is based on their Gibson Dunn memorandum. A recent global survey of dealmakers by BCG and Gibson Dunn reveals a striking consensus: conducting environmental, social, and governance (ESG) due diligence is now indispensable for M&A transac

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Sony and Apollo’s Plan for Paramount: Break It Up

NYT M&A

CBS and other well-known properties would be sold if Sony and Apollo were able to buy Paramount. But the new owners would keep the movie studio.

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Why so many bad bosses still rise to the top

Mckinsey and Company

Narcissism. Overconfidence. Low EQ. Why do we persist in selecting for leadership traits that hamper organizational progress—and leave the right potential leaders in the wrong roles?

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ConocoPhillips Acquires Marathon Oil In All-Stock Deal At 14.7% Premium: Details

Benzinga

Marathon Oil Corporation (NYSE: MRO ) and ConocoPhillips (NYSE: COP ) stocks are moving in opposite directions on Wednesday after they disclosed a definitive deal in which ConocoPhillips will acquire Marathon Oil in an all-stock transaction with an enterprise value of $22.5 billion. As per the agreement, Marathon Oil shareholders will receive 0.2550 ConocoPhillips shares for each share of Marathon Oil they hold.

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How Revenue-Based Financing and Venture Capital Work Together

Lighter Capital

As non-dilutive funding solutions attract more interest from SaaS entrepreneurs, venture capital (VC) investors are seeing an increasing number of startups who have used them for their growth and working capital needs, many times combining revenue-based financing (RBF) with a term loan, or other types of debt financing. These flexible SaaS financing solutions scale with a business’ growth, enabling tech entrepreneurs to focus on their startups without giving up equity, signing personal guarant

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Private Equity Value Creation: Equally Viable Alternative to PE Deal Teams?

Brian DeChesare

Private equity value creation came on my radar a few years ago when I noticed something: Even though traditional PE deal roles were not doing well, “operational” or “value creation” teams still seemed to be recruiting. We kept getting messages from students and clients like the following: “I’m currently working at a Big 4 firm and haven’t gotten many responses to my applications for traditional PE roles, but several value creation teams have invited me in for interviews.

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Next-Gen Governance: AI’s Role in Shareholder Proposals

Harvard Corporate Governance

Posted by Arnaud Cavé and Niamh O’Brien, FTI Consulting, on Monday, May 6, 2024 Editor's Note: Arnaud Cavé is a Director and Niamh O’Brien is a Senior Consultant at FTI Consulting. This post is based on their FTI memorandum. With AI continuing to captivate businesses, consumers and regulators, institutional investors are also increasingly focusing their attention on the implications for the businesses in which they invest.

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China Has a Plan for Its Housing Crisis. Here’s Why It’s Not Enough.

NYT M&A

A new approach by China’s top leaders is bold but pales against the problem: a vast number of empty apartments no one wants to buy.

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AI for social good: Improving lives and protecting the planet

Mckinsey and Company

As AI advances from predictive to generative capabilities, its potential to address social issues defined by the UN Sustainable Development Goals expands.

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1071 Update – May 2024 | Ncontracts

N Contracts

The latest 1071 compliance updates, news, and analysis for financial institutions and small business lenders covered under the CFPB’s Section 1071 final rule.