Appraisers Blog

DECEMBER 26, 2023

Lets talk fees…damn their rules about collusion. How much will you guys be billing for the new fuster cluck form?

Appraisal 98

Appraisal 98

NYT M&A

DECEMBER 24, 2023

The billion-dollar deal leaves the team’s unpopular owners, the Glazer family, in control of the club, but it delegates important responsibilities to their new partner.

Mergers & Acquisitions 128

Mergers & Acquisitions 128

Harvard Corporate Governance

DECEMBER 29, 2023

Posted by Antonio Gledson de Carvalho (Fundação Getúlio Vargas School of Business), Humberto Gallucci Netto (Federal University of São Paulo), and Bernard S. Black (Northwestern University), on Friday, December 29, 2023 Editor's Note: Antonio Gledson de Carvalho is an Assistant Professor at the Fundação Getúlio Vargas School of Business at São Paulo, Humberto Gallucci Netto is a Professor at the Federal University of São Paulo, and Bernard S.

Finance 131

Finance 131

Mckinsey and Company

DECEMBER 26, 2023

Sharpen your problem-solving skills the McKinsey way, with our weekly crossword. Each puzzle is created with the McKinsey audience in mind, and includes a subtle (and sometimes not-so-subtle) business theme for you to find. Answers that are directionally correct may not cut it if you’re looking for a quick win.

123

123

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.

Marketability

Benzinga

DECEMBER 23, 2023

Synopsys, Inc. (NASDAQ: SNPS ) is reportedly in discussions about acquiring ANSYS, Inc. (NASDAQ: ANSS ), a move that could result in the creation of a significant design-software entity and represent one of the early major acquisition deals in the new year. Ansys, valued at almost $30 billion, may see an acquisition deal materialize in early 2024, The Wall Street Journal reported , citing people familiar with the matter.

Technology 119

Technology Equity Marketability 119

NYT M&A

DECEMBER 26, 2023

A new study shows an increase in the rate of inpatient complications, including infections and falls, though patients were no more likely to die.

Private Equity Firm 145

Private Equity Firm Equity Mergers & Acquisitions 145

N Contracts

DECEMBER 28, 2023

Forget the Roaring Twenties of the last century. Four years into the 2020s, and it’s looking like we might be living through the Turbulent Twenties. 2023 was no exception.

Banking 103

Banking 103

Benzinga

DECEMBER 24, 2023

British billionaire Jim Ratcliffe has bought a minority stake in the esteemed football club Manchester United (NYSE: MANU ). The deal puts the club’s value at an estimated $6.3 billion, including debt. This agreement concludes a year-long sales process. What Happened: A report from The Wall Street Journal says that Ratcliffe will hold 25% of Manchester United’s non-voting shares, which are listed on the New York Stock Exchange and were last traded near $20.

Marketability 112

Marketability 112

ISA

DECEMBER 28, 2023

12/28/2023 12:00:00 AM Happy New Year one and all - UPDATES FOR YOUR APPRAISAL PRACTICE There are a few changes to the new 2024 edition of the Uniform Standards of Professional Appraisal Practice (USPAP), effective January 1, 2024. It is your responsibility as an ISA Appraiser to educate yourself in the changes to USPAP. ISA is offering many 7 hour USPAP courses in the coming months as well as the 15 hour USPAP course as required for membership.

Appraisal 98

Appraisal Compliance 98

Harvard Corporate Governance

DECEMBER 27, 2023

Posted by Cydney Posner, Cooley LLP, on Wednesday, December 27, 2023 Editor's Note: Cydney S. Posner is Special Counsel at Cooley LLP. This post is based on her Cooley memorandum. The FASB has announced a final Accounting Standards Update designed to improve disclosures about public companies’ reportable segments, particularly disclosures about significant segment expenses—information that the FASB says investors frequently request.

Compliance 131

Compliance 131

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

Corporate Finance

Appraisers Blog

DECEMBER 29, 2023

In reply to Baggins. Baggins, That is an old VA Fee & Timeliness sheet from 12/21. Those fees were nice when I was getting 4 orders a week from them. When I got on the VA panel the VA fee was $400 and everyone else was paying around $350. VA realized that in 2014-2016 they were falling behind and kicked the fees to $600, then bumped them again in 2019 to $800.

Appraisal 98

Appraisal Marketability 98

Benzinga

DECEMBER 26, 2023

Bristol Myers Squibb & Co (NYSE: BMY ) has agreed to acquire RayzeBio Inc (NASDAQ: RYZB ) for $62.50 per share in cash, for a total equity value of approximately $4.1 billion, or $3.6 billion net of estimated cash acquired. RayzeBio is a clinical-stage radiopharmaceutical therapeutics (RPT) focused on actinium-based RPTs. Current pipeline programs are targeting the treatment of solid tumors, including gastroenteropancreatic neuroendocrine tumors (GEP-NETs), small-cell lung cancer, hepatocell

Equity 105

Equity 105

Gross Mendelsohn

DECEMBER 27, 2023

It has been quite some time since Maryland’s general assembly passed MarylandSaves in 2016. After much delay, Maryland finally put its retirement vehicle into motion on September 15, 2022 , in the form of a Roth IRA account. Now that the program has been in full effect for over a year, applicable Maryland businesses must file for the annual exemption by December 31, 2023.

88

88

Harvard Corporate Governance

DECEMBER 24, 2023

Posted by Harold Halbhuber and Katya Bogdanov, Shearman & Sterling LLP, on Sunday, December 24, 2023 Editor's Note: Harold Halbhuber is a Partner and Katya Bogdanov is an Associate at Shearman & Sterling LLP. This post is based on their Shearman memorandum. Related research from the Program on Corporate Governance includes Insider Trading via the Corporation (discussed on the Forum here ) by Jesse M.

131

131

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.

Marketability

Appraisers Blog

DECEMBER 29, 2023

In reply to Eric Kretz. Data mining is all the rage but look how fast the fever for automated systems is fizzling out. After a few years of non stop hipocracy and beyond obvious bias which ends up inevitably being coded into every single ‘AI’ program out there, the fever for AI has already abated for most. Like how Sports Illustrated fired all the journalists and went with AI, then got roasted for pushing nonsensical faux article pieces.

Appraisal 98

Appraisal 98

Benzinga

DECEMBER 26, 2023

Galiano Gold (TSX: GAU ) is set to own 90% of one of the largest gold mines in West Africa. What Happened : The company committed to acquiring a 45% stake in the Asanko gold mine for $170 (C$225) million. The Government of Ghana holds the remaining 10% stake. On the sell side is Galiano’s joint venture partner, Gold Fields (NYSE: GFI ). Most of the deal will be a cash transaction, paid in installments due Dec. 31, 2026, with the last $30 million paid after the production of 100,000 oz of g

98

98

The Guardian M&A

DECEMBER 26, 2023

Gracell Biotechnologies acquisition marks China’s growing importance to the Anglo-Swedish drugmaker AstraZeneca has struck a deal to buy a Chinese cancer therapy company for up to $1.2bn (£950m), as Britain’s biggest drugmaker expands its footprint in its second-largest market. The Anglo-Swedish pharmaceutical firm announced on Tuesday it would acquire Gracell Biotechnologies, which is focused on a type of cancer therapy known as CAR-T that modifies a patient’s cells to fight the disease.

Marketability 84

Marketability 84

Harvard Corporate Governance

DECEMBER 26, 2023

Posted by Andrew Rosini, Toni Mele, and Tracy Wilkison, FTI Consulting, on Tuesday, December 26, 2023 Editor's Note: Andrew Rosini is a Senior Managing Director and Leader of Global Risk & Investigations Practice; and Toni Mele and Tracy Wilkison are Senior Managing Directors at FTI Consulting. This post is based on a FTI Consulting memorandum by Mr.

Compliance 122

Compliance 122

Appraisers Blog

DECEMBER 29, 2023

In reply to Retired Appraiser. [link] Burger flippers at in and out around here start at $20 an hour. Your fees are quite reasonable, at least for Colorado. The news the other day says we have the highest inflationary rate of any state in the country. The thing about the new forms is nobody will have experience with them, and they’ll never ever gain that experience either.

Start-ups 98

Start-ups Appraisal 98

Benzinga

DECEMBER 29, 2023

Globant SA (NYSE: GLOB ) shares are trading higher after it announced yesterday the acquisition of a Brazilian business, Iteris Holding, for an undisclosed amount. The buyout boosts the company's current operations in Brazil by adding top local digital capabilities and a strong client roster. Notably, Iteris offers end-to-end solutions across several industries, such as payments & banking, manufacturing, communications, education, retail, and healthcare, for some of the strongest brands

Banking 97

Banking Equity Marketability 97

Financial Times M&A

DECEMBER 24, 2023

Some board members had worried about future treatment of non-Glazer shareholders in Premier League club

111

111

Harvard Corporate Governance

DECEMBER 23, 2023

Posted by Amy Simmerman, Brad Sorrels, and Ryan Greecher, Wilson Sonsini Goodrich & Rosati, on Saturday, December 23, 2023 Editor's Note: Amy Simmerman , Brad Sorrels , and Ryan Greecher are Partners at Wilson Sonsini Goodrich & Rosati. This post is based on a memorandum by Ms. Simmerman, Mr. Sorrels, Mr. Greecher, Joe Slights , Adrian Broderick , and James Griffin-Stanco and is part of the Delaware law series ; links to other posts in the series are available here.

112

112

Appraisers Blog

DECEMBER 28, 2023

In reply to Retired Appraiser. Holy smokes! VA fees just jumped again. Your ready to go honest market fee guide, compliant with the original spirit of the Dodd Frank Reg Z regulatory instructions on C&R (market fees as if no amc was involved), just a click away. Don’t forget to add the amc surcharge for the additional oversight and scope requirements.

Appraisal 98

Appraisal Marketability 98

Benzinga

DECEMBER 26, 2023

Manchester United Ltd (NYSE: MANU ) shares are trading higher Tuesday after the company announced it reached a deal to sell 25% of its shares for $33 per share. What Happened: Manchester United entered into an agreement in which INEOS chairman Sir Jim Ratcliffe will acquire 25% of its Class B shares and up to 25% of its Class A shares for $33 per share.

96

96

Financial Times M&A

DECEMBER 27, 2023

Tie-ups and cuts on menu as Disney, Warner, Comcast and Paramount seek new ways to keep up

112

112

Harvard Corporate Governance

DECEMBER 29, 2023

Posted by the Harvard Law School Forum on Corporate Governance, on Friday, December 29, 2023 Editor's Note: This roundup contains a collection of the posts published on the Forum during the week of December 22-28, 2023 CEO Succession and The Walt Disney Company Posted by David F. Larcker and Brian Tayan (Stanford University), on Friday, December 22, 2023 Tags: Board of Directors , CEO compensation , CEO succession , CEO turnover , Chapek , Disney , Iger , Staggs , succession planning , talent de

Compliance 100

Compliance 100

Appraisers Blog

DECEMBER 25, 2023

In reply to hammering hank. The snarky combative discourse you have initiated from the start of this discussion is typically referred to as trolling on-line. What makes you think I want to cry? Possible, I don’t know you and I don’t make silly guarantees born of ignorance, so I obviously can’t say what your relative experience is. However, I can state that I have appraised over a thousand commercial properties since starting in 1983 that includes every sort of office, retail, i

Appraisal 93

Appraisal 93

NYT M&A

DECEMBER 28, 2023

Next year’s biggest headwinds for deal making will be “geopolitics, geopolitics and geopolitics,” says Viswas Raghavan, the co-head of global investment banking at JPMorgan Chase.

Banking 76

Banking Mergers & Acquisitions 76

Benzinga

DECEMBER 29, 2023

Law firm Allen & Overy unveiled this week a new tool that uses generative artificial intelligence (AI) to negotiate and draw up draft contracts. The London-based firm announced that over a thousand of its internal lawyers, along with various undisclosed clients, are utilizing ContractMatrix. This tool, developed in collaboration with Microsoft Corp (NASDAQ: MSFT ) and OpenAI, is instrumental in creating Harvey, the company’s own legal AI start-up.

Start-ups 73

Start-ups Equity Marketability 73

Financial Times M&A

DECEMBER 25, 2023

Number two sports retailer responds to newer brands gaining market share due to more active lifestyles

Marketability 100

Marketability 100

Appraisers Blog

DECEMBER 24, 2023

In reply to Pamela DeSimone on Facebook. Actually that’s not a workable long term solution, being simply a different but still equally direct form of discrimination. In fact, such is the sought after reaction why marxists would implement these kinds of systems in the first place, because the lack of equal and fair servicing will be used as justification to replace human appraisers for state controlled automation and bureaucratic minders whom are neither independent nor fair minded.

Appraisal 91

Appraisal 91

Benchmark Report

DECEMBER 27, 2023

Deciding to sell your business is a big deal, and while you might be a bit scared by the endeavor, there are more important reasons to get excited about it.

Marketability 64

Marketability 64

Benzinga

DECEMBER 27, 2023

With recent merger and acquisition deals in the targeted radiopharmaceutical therapy (TRT) space, on Tuesday, Oppenheimer noted that Fusion Pharmaceuticals Inc (NASDAQ: FUSN ) is potentially the sole remaining clinical-stage player with a robust supply chain. In September, Oppenheimer initiated coverage on Fusion Pharmaceuticals, citing the company's pipeline as among the best in the space with alpha-emitter-based targeted radionuclide therapies.

Alpha 69

Alpha Equity 69

Financial Times M&A

DECEMBER 26, 2023

Gracell Biotechnologies would operate as wholly owned subsidiary under terms of deal

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109