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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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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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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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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Google Acquiring HubSpot For $31B To 'Take Market Share From Microsoft,' Says Expert

Benzinga

Google parent Alphabet Inc. (NASDAQ: GOOGL ) is exploring the acquisition of HubSpot Inc. (NYSE: HUBS ), a U.S. marketing software maker valued at $31 billion. The acquisition would significantly enhance Google’s ability to compete with Microsoft Corp. (NASDAQ: MSFT ) in the cloud-based applications market, What Happened : Analysts and investment bankers have noted that this would be Google’s largest deal, expanding its business-oriented products and applications, Reuters reported on

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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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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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Gen AI talent: Your next flight risk

Mckinsey and Company

Active users of gen AI are high value and in demand—and in many cases, poised to quit. New research reveals how to attract them, keep them engaged, and motivate them to stay put.

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Sony and Apollo in Talks to Acquire Paramount

NYT M&A

After letting exclusive talks with the movie studio Skydance lapse, Paramount’s directors met over the weekend and decided to negotiate with all the suitors.

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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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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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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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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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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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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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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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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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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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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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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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Barrick Gold CEO Says Mergers Won't Fix The Copper Shortage

Benzinga

Barrick Gold ‘s (NYSE: GOLD ) CEO, Mark Bristow , believes that mergers and acquisitions do not address the impending copper shortage. In light of BHP ‘s proposed $39 billion takeover of Anglo American , Bristow advocated for mining companies to focus on discovering and developing new copper deposits rather than pursuing consolidation. "You can consolidate, but it doesn't bolster the production profile.

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How to Measure Your Way to Product-Market Fit

Lighter Capital

Whether your business is just starting to focus more heavily on product-market fit, or if the goal is to raise money so you can continue to grow, today’s market is proof that customer focus will remain a critical element in success. Whatever stage in the game you’re at, here’s some wisdom you can take to the bank: don’t get tunnel vision when raising money.

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Redpath Leaps into Modernity at Securian Center

Redpath

Saint Paul, MN (May 8, 2024) - In a significant stride towards modernization and a renewal of their commitment to remain headquartered in downtown Saint Paul, Minnesota, Redpath and Company—one of Minnesota's leading accounting firms—completed their office relocation from the Alliance Bank Center to the Securian Center. Now located at 400 Robert Street North in Suite 1600, the office move marks a pivotal moment in the company's journey, aligning with its vision for growth, innovation, and cultur

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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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The rapid evolution of payments in Latin America

Mckinsey and Company

Cash is no longer Latin Americans’ preferred way to pay, as debit cards, credit cards, and mobile payments have gained fans, presenting opportunities for financial-services companies.

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The Emails at the Heart of the Government’s Ticketmaster Case

NYT M&A

Live Nation Entertainment, which owns Ticketmaster, is accused of violating antitrust laws. The Justice Department drew on the concert behemoth’s internal communications in its lawsuit.

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What's Going On With Exxon Mobil Shares Today?

Benzinga

Exxon Mobil Corporation (NYSE: XOM ) closed its acquisition of Pioneer Natural Resources Company last week. The merger of both companies created a combined company that has more than 1.4 million net acres in the Delaware and Midland basins and had an estimated 16 billion barrels of oil equivalent resource. With the buyout, ExxonMobil’s Permian production volume is projected to more than double to 1.3 million barrels of oil equivalent per day (MOEBD), based on 2023 volumes, and is targeted

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May 2024 Regulatory Brief: Final Rules Plus Will Mortgages Be the Next Junk Fees?

N Contracts

The May 2024 Regulatory Update podcast has the latest regulatory compliance news, trends and analysis, including CFPB junk fees and several final and proposed rules

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Australian Co. Aims For Shopify Highs In $250M SPAC Deal

Law 360 M&A

Sydney, Australia-based Btab Ecommerce Group Inc., an e-commerce supplier for small businesses, has agreed to merge with special-purpose acquisition company Integrated Wellness Acquisition Corp. in a transaction valued at $250 million, the companies said Friday.

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Comment on Leaving the Appraisal Profession by Lee

Appraisers Blog

I am glad I saw the writing on the wall and bailed out 1 1/2 years ago. It used to be interesting and even important work. No more, the idiots have killed it. Retirement rocks, I don’t miss appraisal one bit. How long until the next stupidity caused crash? Don’t answer, I no longer care, and don’t need no stinking mortgage.

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The growing importance of software product marketing managers

Mckinsey and Company

As launching new products becomes more challenging, the multifaceted role of product marketing manager is poised to become a differentiator for the most successful software providers.

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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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Canadian Giant SNDL Speeds Up Acquisition Of Majority Positions In Two US Cannabis Companies As Marijuana Rescheduling Looms

Benzinga

SNDL Inc. (NASDAQ: SNDL ), through its joint venture with SunStream Bancorp Inc. , announced on Thursday that SunStream USA group of companies will proceed with the process of acquiring equity positions in U.S. cannabis assets, following the completion of a review by SNDL’s listing authority, NASDAQ. SunStream USA I, LLC and SunStream USA II, LLC are among the entities that comprise the SunStream USA Group, with each entity including one or more third-party investors, all independently ma

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