October, 2023

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Exxon Acquires Pioneer Natural Resources for $60 Billion

NYT M&A

The acquisition of Pioneer Natural Resources, Exxon’s largest since its merger with Mobil in 1999, is a bet that U.S. energy policy will not move against fossil fuels in a major way.

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Boards of Directors in Disruptive Times: Improving Corporate Governance Effectiveness

Harvard Corporate Governance

Posted by Jordi Canals (IESE Business School), on Wednesday, October 25, 2023 Editor's Note: Jordi Canals is Professor of Strategic Management and the holder of Fundación IESE Chair in Corporate Governance at IESE Business School. This post is based on his book. Disney’s board of directors fired CEO Bob Chapek on November 20, 2022. He was nominated for that job in February 2020 to replace Bob Iger -Disney CEO between 2005 and 2020-, after several board attempts in previous years to speed up Ig

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From Tradition to Transformation: Appraising Diplomatic Real Estate

IVSC

Wayne A. Nygard, MAI, FRICS is the Division Chief for the Evaluations Division (“EV”) within the Bureau of Overseas Buildings Operations of the U.S. Department of State. EV is responsible for evaluation of U.S. Embassy and Consulate facilities and other real estate worldwide. The portfolio consists of over 25,000 properties in over 190 countries. Nygard oversees a staff of appraisers and real estate analysts who review and perform Market Value Appraisals worldwide as well as conduct various anal

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Fintechs: A new paradigm of growth

Mckinsey and Company

After decades of hypergrowth, fintechs have entered a new era of value creation, where the focus is on sustainable, profitable growth. This report examines how fintechs can win in these disruptive times.

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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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Oil megadeals usher in an age of energy uncertainty

Financial Times M&A

Those betting transactions by Chevron and ExxonMobil signal robust demand growth may want to think twice

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FactSet Review—The Largest U.S. Corporate Acquisitions

BVR

The FactSet Review is the cornerstone of every mergers and acquisitions library and a must have for anyone who needs historical M&A data. Get a sneak peek at some historical data points from the 2023 FactSet Review.

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State of Cyber Awareness in the Boardroom

Harvard Corporate Governance

Posted by Sarah Kuranda Vallone, VP Marketing (NightDragon) and Edna Twumwaa Frimpong, Director of International Research (Diligent Institute), on Tuesday, October 10, 2023 Editor's Note: Sarah Kuranda Vallone is a VP Marketing at NightDragon, and Edna Twumwaa Frimpong is a Director of International Research at Diligent Institute. This post is based on a NightDragon and Diligent memorandum by Ms.

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IVSC Annual General Meeting 2023: A Recap

IVSC

The International Valuation Standards Council (IVSC) Annual General Meeting (AGM) took place this year at Maison de la Chimie in the heart of Paris, gathering over 150 valuation leaders and experts from around the globe. Hosted by Compagnie Nationale des Commissaires aux Comptes (CNCC) and Conseil Superieur de L’ordre des Experts-Comptables (CNOEC), and sponsored by HypZert and Taqeem, the AGM is a key fixture in the calendar of valuation leaders.

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Leveraging generative AI in Europe: The opportunities and challenges

Mckinsey and Company

What makes Europe different when it comes to harnessing the opportunities of gen AI? Our leaders share their perspectives.

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Why Japan should sell Nintendo

Financial Times M&A

A sale of one of its crown jewels could be transformative for the country

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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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London bus operator Arriva bought by US private equity firm

The Guardian M&A

Deutsche Bahn offloads company to I Squared in deal worth £1.4bn, three years after putting it up for sale Germany’s terrible trains are no joke for a nation built on efficiency The London red bus operator Arriva has been snapped up by US infrastructure investor I Squared in a deal believed to be worth about €1.6bn (£1.4bn). Arriva was put up for sale in 2019 by its German owner, Deutsche Bahn, which had originally sought to offload the company to reduce its own debts.

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Microsoft Closes $69 Billion Activision Blizzard Deal

NYT M&A

The megadeal could strengthen Microsoft’s standing in the video game industry, after a year and a half of negotiations with regulators around the world.

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Standardization and Innovation in Venture Capital Contracting: Evidence from Startup Company Charters

Harvard Corporate Governance

Posted by Robert Bartlett (Stanford Law School), on Tuesday, October 17, 2023 Editor's Note: Robert Bartlett is the W. A. Franke Professor of Law and Business and faculty co-director of the Arthur and Toni Rembe Rock Center for Corporate Governance at Stanford Law School. This post is based on his recent paper. In 2003, a group of approximately two dozen lawyers specializing in venture capital (VC) finance embarked on a mission to standardize the financing documents utilized by VC firms for inve

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IVAS-IVSC Business Valuation Conference 2023: Shaping the Future of Valuation

IVSC

The IVAS-IVSC Business Valuation Conference 2023, held under the theme “ The Future of Business Valuation: Embracing Shifts and Innovation ,” was a resounding success. This two-day event brought together key VIPs and valuation experts to discuss the evolving landscape of business valuation. Programme Highlights Day 1: October 3, 2023 The first day of the conference featured a diverse programme: Welcome Remarks by IVAS and IVSC: Mr Lie Kok Keong and Mrs Lim Hwee Hua extended warm welc

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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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What is tokenization?

Mckinsey and Company

Tokenization is the process of issuing a digital representation of an asset on a blockchain.

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ExxonMobil backs up bullish view of oil demand with $60bn bet

Financial Times M&A

Purchase of Pioneer reinforces group’s Permian Basin inventory as fossil fuel debate intensifies

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Microsoft completes $69bn deal to buy Call of Duty maker Activision Blizzard

The Guardian M&A

Completion of sale follows regulator’s decision to allow it after competition concerns were addressed Microsoft has completed its $69bn (£57bn) deal to buy Activision Blizzard, the maker of games including Call of Duty and World of Warcraft, after the UK’s competition watchdog cleared the acquisition. The Competition and Markets Authority (CMA) had moved to block the deal in April , citing concerns that Microsoft – the maker of the Xbox gaming console – would dominate the nascent cloud gaming ma

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S.E.C. Sues Elon Musk to Compel Him to Testify on Twitter Purchase

NYT M&A

The agency said Mr. Musk was subpoenaed to testify last month about his purchases of Twitter’s stock last year, but he failed to appear.

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The Compensation Committee’s Evolving Role in Human Capital Management

Harvard Corporate Governance

Posted by Blair Jones, Rachel Ki, and Jennifer Teefey, Semler Brossy LLC, on Tuesday, October 31, 2023 Editor's Note: Blair Jones is a Managing Director, Rachel Ki is an Associate, and Jennifer Teefey is a Senior Associate Consultant at Semler Brossy LLC. This post is based on a NACD Directorship magazine publication. Many leaders delved into human capital management (HCM) when the economy was booming, just before the Great Resignation.

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EY US and AuditBoard Announce Expansion of Alliance to Empower Businesses to Better Manage Risks

Audit Board

New service offerings leverage AuditBoard’s connected risk platform and EY’s solutions to address dynamic risk assessment and controls testing needs for enterprises. LOS ANGELES, CA - October 19, 2023 – AuditBoard, the leading cloud-based platform transforming audit, risk, IT security, and ESG management, today announced the expansion of their existing alliance with Ernst & Young LLP (EY US) to provide powerful new joint offerings for internal audit and IT audit teams.

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What is Web3?

Mckinsey and Company

Web3 is a term used to describe the next iteration of the internet, one that is built on blockchain technology and is communally controlled by its users.

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ExxonMobil seeks more M&A opportunities after $60bn Pioneer deal

Financial Times M&A

Quarterly profits at oil group and rival Chevron miss Wall Street expectations

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Are you ready? The Corporate Transparency Act becomes effective Jan 1, 2024

ThomsonReuters

Jump to: Who does the Corporate Transparency Act affect? Who needs to file Beneficial owners Company applicants When do reports need to be filed for the Corporate Transparency Act? The Corporate Transparency Act’s impact on tax and accounting professionals Implementation and compliance challenges Embracing the Corporate Transparency Act The Corporate Transparency Act (CTA), enacted in 2021, was passed to enhance transparency in entity structures and ownership to combat money launde

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Exxon Mobil’s Pioneer Deal Is a Direct Threat to Democracy

NYT M&A

By doubling down on fossil fuels, Exxon Mobil is choosing to profit through the most harmful way to the rest of us.

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The CEO Shareholder: Straightforward Rewards for Long-term Performance

Harvard Corporate Governance

Posted by Joel Paula, FCLTGlobal, on Monday, October 23, 2023 Editor's Note: Joel Paula is a Policy Advisor at FCLTGlobal. This post is based on a FCLTGlobal memorandum by Mr. Paula, Jess Gaspar , Matt Leatherman , and Sarah Williamson. Related research from the Program on Corporate Governance includes Paying for Long-Term Performance (discussed on the Forum here ) by Lucian Bebchuk and Jesse Fried.

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AuditBoard Announces AI and Analytics Capabilities

Audit Board

Purpose-built extensions allow Audit, Risk, and Compliance teams to leverage transformative automation and data insights to manage risk more efficiently. LOS ANGELES, October 18, 2023 - AuditBoard , the leading cloud-based platform transforming audit, risk, compliance, and ESG management, today revealed powerful new capabilities purpose-built to enable teams to automate critical workflows, surface key strategic insights, and stay on top of proliferating risks.

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Tech talent in transition: Seven technology trends reshaping telcos

Mckinsey and Company

With technologies like edge computing, AI, and xRAN transforming telecom, leaders are reassessing how to capture value. Rethinking talent is a key piece of the puzzle.

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Edtech group Byju’s faces shrinking empire with creditors at the gates

Financial Times M&A

Online education company was once India’s most valuable start-up but now plans asset sales to settle debts

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How do different accounting firms use AI?

ThomsonReuters

Jump to: How many accounting firms use AI? How do the Big 4 use artificial intelligence? How do smaller accounting firms use AI? How does AI impact workflow? In today’s fast-paced business world, ignoring technology is not an option, and the field of accounting is no exception. Artificial Intelligence (AI) has become a game-changer, helping accounting firms streamline processes, improve accuracy, and deliver more value to their clients.

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Chevron to Acquire Hess for $53 Billion in Latest Major Oil Deal

NYT M&A

The acquisition marks further consolidation of the oil industry and highlights the confidence that energy companies have in the future of fossil fuels.

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AI and the Role of the Board of Directors

Harvard Corporate Governance

Posted by Holly J. Gregory, Sidley Austin LLP, on Saturday, October 7, 2023 Editor's Note: Holly J. Gregory is a Partner and co-chair of the Global Corporate Governance practice at Sidley Austin LLP. This post is based on The Governance Counselor piece. Artificial intelligence (AI) has the capacity to disrupt entire industries, with implications for corporate strategy and risk, stakeholder relationships, and compliance that require the attention of the board of directors.

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Market Bipolarity: Exuberance versus Exhaustion!

Musings on Markets

As we enter the last quarter of 2023, it has been a roller coaster of a year. We started the year with significant uncertainty about whether the surge in inflation seen in 2022 would persist as well as about whether the economy was headed into a recession. In the first half of the year, we had positive surprises on both fronts, as inflation dropped after than expected and the economy stayed resilient, allowing for a comeback on stocks, which I wrote about in a post in July 2023.

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Author Talks: Am I making myself clear?

Mckinsey and Company

Feeling misunderstood? A BBC journalist shares the communication blunders that keep you from getting your point across and what you can do to avoid them.

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Saving Atos: Jean-Pierre Mustier handed one of France’s messiest rescue missions

Financial Times M&A

Former UniCredit boss steps into governance and political quagmire to turn around indebted tech contractor

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