February, 2024

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Capital One Said to Be in Talks to Acquire Discover

NYT M&A

The proposed deal would combine two of the largest credit card companies in the United States.

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Tornetta v. Musk: Post-Trial Opinion

Harvard Corporate Governance

Posted by Anna Restuccia (Harvard Law School), on Thursday, February 1, 2024 Editor's Note: This post provides the text of the post-trial opinion regarding the case between Richard J. Tornetta on behalf of Tesla, Inc. against Elon Musk, decided by the Delaware Court of Chancery on January 30, 2024. This post is part of the Delaware law series ; links to other posts in the series are available here.

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Trending Sources

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ValuAsia Connect Webinar Series: Environment, Social and Governance

IVSC

Introduction Welcome to ValuAsia Connect, a webinar series specifically tailored for valuation professionals and stakeholders throughout Asia. Co-organised by the International Valuation Standards Council (IVSC) and the Institute of Valuers and Appraisers, Singapore (IVAS), this series seeks to address the evolving landscape of valuation practices in the Asia-Pacific region.

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The equity story you need for the long-term investors you want

Mckinsey and Company

Sophisticated investors are more likely to afford a company more time to let its strategy play out, even during volatility. But first, they need a clear equity story.

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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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Why is the $180bn games industry shedding thousands of staff?

The Guardian M&A

Despite healthy sales, publishers such as Epic Games and Activision Blizzard are making hundreds of employees redundant – which may radically reshape the industry It is widely agreed that 2023 was a stellar year for video games. The Legend of Zelda: Tears of the Kingdom , Baldur’s Gate 3 , Alan Wake 2 , Marvel’s Spider-Man 2 … barely a week passed without some blockbuster hit or independent gem.

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Barratt to buy rival Redrow for £2.5bn

Financial Times M&A

UK housebuilder aims for £90mn in cost savings as developers deal with slowdown

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Why good boards make bad decisions

Harvard Corporate Governance

Posted by Maria Castañón Moats, Paul DeNicola, and Catie Hall, PricewaterhouseCoopers LLP, on Sunday, February 11, 2024 Editor's Note: Maria Castañón Moats is a Leader, Paul DeNicola is a Principal, and Catie Hall is a Director at the Governance Insights Center, PricewaterhouseCoopers LLP. This post is based on their PwC memorandum. Introduction A widely accepted notion is that corporate boards function like well-oiled machines.

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Perspectives Paper: Value and Data

IVSC

IVSC has published a new Perspectives Paper on the topic of Data and Valuation , as part of our ongoing series on Intangible Assets. This paper addresses the complex nature of data valuation, emphasising its critical role as an intangible asset within the modern economy. The paper explores themes including the economic significance of data, the challenges in its valuation, the impact of data on financial reporting, and the practical considerations for valuation professionals.

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Adopting AI at speed and scale: The 4IR push to stay competitive

Mckinsey and Company

AI has brought the Fourth Industrial Revolution to an inflection point, and manufacturers must choose a path forward: innovate, accelerate, or follow fast.

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The Seven Samurai: How Big Tech Rescued the Market in 2023!

Musings on Markets

I was planning to finish my last two data updates for 2024, but decided to take a break and look at the seven stocks (Apple, Amazon, Alphabet, Meta, Microsoft, Nvidia and Tesla) which carried the market in 2023. While I will use the "Magnificent Seven" moniker attached by these companies by investors and the media, my preference would have been to call them the Seven Samurai.

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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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How CCPro Enhances Your Valuation Reports

BVR

Getting accurate cost of equity and WACC estimates and CRSP size premia can be a big job. However, thanks to Cost of Capital Professional, developing your cost of equity estimates has gotten so much more streamlined. Let's take a look at some of the most beneficial features of this cost-effective and easy-to-use platform.

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Two Big Texas Oil Producers Announce $26 Billion Merger

NYT M&A

Diamondback Energy and Endeavor Energy Resources are both major players in the booming Permian Basin.

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Executive Compensation Considerations for the 2024 Annual Meeting and Reporting Season

Harvard Corporate Governance

Posted by Joseph Yaffe, Page Griffin, and Shalom Huber, Skadden, Arps, Slate, Meagher & Flom LLP, on Thursday, February 15, 2024 Editor's Note: Joseph Yaffe , Page Griffin , and Shalom Huber are Partners at Skadden, Arps, Slate, Meagher & Flom LLP. This post is based on a Skadden memorandum by Mr. Yaffe, Mr. Griffin, Mr. Huber, Regina Olshan , Erica Schohn , and Joseph Penko.

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Public meetings of the IVSC’s standards boards

IVSC

Register to join the public meetings of the IVSC’s standards boards The IVSC’s standard-setting boards are convening for an in-person meeting in New York City from February 26 to 29, 2024. This gathering marks the first assembly of the Standards Review Board, the Business Valuation and Intangible Assets Board, the Financial Instruments Board, and the Tangible Assets Board since the release of the latest International Valuation Standards (IVS).

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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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Beyond the hype: New opportunities for gen AI in energy and materials

Mckinsey and Company

Generative AI can create additional value from other forms of AI and analytics—and the energy and materials sector is uniquely well-positioned to benefit from these advancements.

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Egypt’s richest man Nassef Sawiris considers breaking up his empire

Financial Times M&A

Billionaire says options for OCI Group include selling off all assets and turning it into cash shell for new acquisitions

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AMA: Dustin Siggins, founder of Proven Media Solutions

Vested

We spoke to Dustin Siggins, the founder of Proven Media Solutions , about how to juggle family and working lives, and why doing a handful of things well is the route to success.

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Texas Man Pleads Guilty to Insider Trading After Overhearing Wife’s Work Calls

NYT M&A

The man made $1.7 million in profits after buying and selling stocks in a company that his wife’s employer, BP, acquired, prosecutors said.

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The 2023 OECD Corporate Governance Factbook

Harvard Corporate Governance

Posted by Daniel Blume and Mats Isaksson, OECD, on Saturday, February 3, 2024 Editor's Note: Daniel Blume is the Head of the Corporate Governance Unit, and Mats Isaksson is a Board Member of the Swedish Corporate Governance Board and former Head of Division in the Organization for Economic Co-operation and Development (OECD)’s Directorate for Financial and Enterprise Affairs.

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Best Practices for Enhancing Frontline Efficiency in Banking

N Contracts

Employees on the frontline are some of the most recognized and busy members of your financial institution's staff. They serve consumers and meet their needs while helping your institution meet its strategic goals.

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What to expect from medtech in 2024

Mckinsey and Company

Our medtech predictions for the year ahead were inspired by conversations with more than 200 industry leaders and informed by McKinsey’s latest decade-ahead medtech report.

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Adam Neumann seeks to buy WeWork out of bankruptcy

Financial Times M&A

Entrepreneur says he is partnering with Third Point but hedge fund says it has not committed to participating in any deal

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If you are the Gardener of Governance, take out the weeds….

Norman Marks

A few years ago, my friend Dr. Rainer Lenz started talking about the internal auditor as the “gardener of governance”. In an article in EDPACS, Rainer explained (with my emphasis): Governance has been central to what internal auditing has been aspiring to do for a long time.

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Adam Neumann Wants to Take Over WeWork

NYT M&A

Adam Neumann, the co-working company’s onetime chief, has sought for months to buy the now-bankrupt business, but accuses its current leaders of stonewalling him.

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The Corporate Investment Benefits of Mutual Fund Dual Holdings

Harvard Corporate Governance

Posted by Rex Wang Renjie (Vrije Universiteit Amsterdam), Patrick Verwijmeren (Erasmus School of Economics), and Shuo Xia (Halle Institute for Economic Research), on Friday, February 2, 2024 Editor's Note: Rex Wang Renjie is an Assistant Professor of Finance at the Vrije Universiteit Amsterdam and Tinbergen Institute; Patrick Verwijmeren is a Professor of Corporate Finance at the Erasmus School of Economics; and Shuo Xia is an Assistant Professor of Finance at Halle Institute for Economic Rese

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Exploring key 2024 tax bill proposals

ThomsonReuters

As we step into a new year, the taxation realm is abuzz with discussions surrounding the Tax Relief for American Families and Workers Act of 2024. However, amidst this spotlight, there are other tax proposals quietly gaining momentum. In this blog, we will dive into the details of four notable tax laws that have been introduced into legislation and deserve our attention.

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Deploying generative AI in US state governments: Pilot, scale, adopt

Mckinsey and Company

States could have much to gain from using generative AI tools in their operations. A low-risk strategy may be to test some applications while preparing a longer-term implementation plan.

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Are Japan’s corporate managers ready for the revival of trade unions?

Financial Times M&A

Nippon Steel’s planned purchase of US Steel is a test case as managers prepare to deal with more active labour groups

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US oil companies to merge in $26bn deal as firms rush to buy up drilling land

The Guardian M&A

Diamondback Energy to buy Endeavor Energy Resources, after IEA warning against new fossil fuel developments Business live – latest updates Two American oil and gas companies have said they will merge in a $26bn (£21bn) deal, the latest in a wave of acquisitions designed to buy up the best land for drilling. Diamondback Energy has agreed to buy Endeavor Energy Resources in a takeover that will create a company with a value of about $50bn (£40bn).

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Center for Public Integrity Weighs Merger or Shutdown Amid Dire Financial Straits

NYT M&A

The nonprofit had a budget shortfall of roughly $2.5 million last year amid a difficult market for fund-raising.

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Compensation Design Calls for Radical Simplification

Harvard Corporate Governance

Posted by Charles G. Tharp, HR Policy Association, on Sunday, February 18, 2024 Editor's Note: Dr. Charles G. Tharp is Senior Advisor, Research and Practice of the Center On Executive Compensation and Executive VP at the HR Policy Association. This post is based on his HR Policy Association memorandum. Related research from the Program on Corporate Governance includes Executive Compensation as an Agency Problem and Pay Without Performance: The Unfulfilled Promise of Executive Compensation both b

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Nickel Industry Cutbacks To Support Prices As Miners Brace For Long Slump: '2030s Will Likely Be More Attractive'

Benzinga

Lower production among the world's largest nickel miners in response to a price slump for the metal end up supporting the market. That’s according to Russian metals giant Nornickel. London Metal Exchange nickel prices are down around 30% in the year through Friday, primarily driven by burgeoning supply from Indonesia — the world's largest producer of the metal.

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Organizational health is (still) the key to long-term performance

Mckinsey and Company

McKinsey’s latest findings on organizational health demonstrate that it remains the best predictor of value creation and a sustainable source of competitive advantage in today’s global marketplace.

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Yandex to sell Russian operations for $5bn

Financial Times M&A

Sale of ‘Russia’s Google’ is largest by a western-held company seeking to exit the country since the war in Ukraine began

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