Sat.Jul 06, 2024 - Fri.Jul 12, 2024

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The Activism Vulnerability Report

Harvard Corporate Governance

Posted by Jason Frankl, Brian G. Kushner, and Kurt Moeller, FTI Consultin, on Wednesday, July 10, 2024 Editor's Note: Jason Frankl and Brian G. Kushner are Senior Managing Directors and Kurt Moeller is a Managing Director at FTI Consulting. This post is based on a FTI Consulting memorandum by Mr. Frankl, Mr. Kushner, Mr. Moeller, Tom Kim , and Ryan Chiang.

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IVSC Agenda Consultation 2024

IVSC

The IVSC has published its 2024 Agenda Consultation, aiming to shape the future of the International Valuation Standards (IVS). This triennial consultation invites stakeholders to provide their input on key valuation topics that are crucial for the ongoing development IVS. Purpose of the Consultation The Agenda Consultation seeks to gather feedback from a wide range of stakeholders, including valuation practitioners, Valuation Professional Organisations, (VPOs), financial institutions, investors

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Skydance Reaches Deal to Merge With Paramount

NYT M&A

The deal, approved by Paramount’s board, ushers in a new chapter for the company, which owns CBS and the movie studio behind “Top Gun.

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Offshore wind: Strategies for uncertain times

Mckinsey and Company

The offshore wind industry is facing macroeconomic pressures that are halting growth and profitability. Developers can embrace four key actions to help navigate this changing environment.

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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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Dark Accounting Matter

Harvard Corporate Governance

Posted by Colleen Honigsberg (Stanford Law School), on Tuesday, July 9, 2024 Editor's Note: Colleen Honigsberg is Associate Dean of Curriculum and Professor of Law at Stanford Law School. This post is based on her recent paper. Physicists calculate that approximately 85% of the matter in the universe is composed of “dark matter” that “does not absorb, reflect, or emit electromagnetic radiation and is therefore difficult to detect.

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$4.3B In Soft Drinks: Carlsberg Acquires Britvic In Bold Move Amid Cannabis Market Growth

Benzinga

Carlsberg' s (CARL-B.CO) recent $4.3 billion acquisition of Britvic , known for Robinsons squash and J20 , highlights a strategic pivot for the Danish brewer. The deal will create a new entity, Carlsberg Britvic , to enhance its footprint in the UK and Western Europe. Following a previously rejected lower offer, Britvic investors will receive £13.15 per share.

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In the long run: What leaders can learn from an Olympic gold medalist

Mckinsey and Company

Alistair Brownlee, a two-time Olympic gold medalist, shares his strategies for staying resilient amid pushback, removing barriers to creating habits, and leading with conviction.

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Climate and Decarbonization Stewardship Guidelines

Harvard Corporate Governance

Posted by Joud Abdel Majeid, BlackRock Inc., on Monday, July 8, 2024 Editor's Note: Joud Abdel Majeid is Global Head of Investment Stewardship at BlackRock Inc. This post is based on his BlackRock memorandum. BlackRock climate and decarbonization stewardship guidelines [1] Introduction to BlackRock Investment Stewardship BlackRock’s clients depend on us to help them meet their varied investment goals.

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Paramount Analysts Size Up Merger: Skydance Aims For Earnings, 'Not A Breakup,' Redstone Says Content Is King

Benzinga

Media company Paramount Global (NASDAQ: PARA ) agreed to a merger with Skydance Media to form "New Paramount," valuing the combined company at $28 billion. Here's a look at what analysts are saying and how Paramount Non-Executive Chairwoman Shari Redstone sees the deal playing out. What Happened: After months of negotiation, Paramount and Skydance have come to a merger agreement to combined the media entities.

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David Ellison Poised to Become a New Mogul in a Diminished Hollywood

NYT M&A

David Ellison is poised to soon run Paramount Pictures, among other entertainment assets. But what does that mean in a fractured cultural landscape?

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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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Helping boards manage geopolitical risk with Jon Huntsman Jr.

Mckinsey and Company

In a conversation with the board director and former diplomat, two McKinsey experts offer advice on how boards can guide their organizations through volatile times.

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The Overlooked Reality of Shareholder Activism in China: Defying Western Expectations

Harvard Corporate Governance

Posted by Zhou Chun (Guanghua School of Law), Zhang Wei (Yong Pung How School of Law), and Dan W. Puchniak (Yong Pung How School of Law), on Wednesday, July 10, 2024 Editor's Note: Zhou Chun is an Associate Professor at Guanghua School of Law, Zhang Wei is an Associate Professor at the Yong Pung How School of Law, and Dan W Puchniak is a Professor of Law at Yong Pung How School of Law, Singapore Management University.

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After Losing $150B Nvidia Opportunity, Masayoshi Son's SoftBank Acquires UK Chipmaker Graphcore In Major AI Push

Benzinga

SoftBank Group Corp. (OTC: SFTBF ) (OTC: SFTBY ) led by has announced the acquisition of Graphcore , a UK-based chipmaker, in a significant move to bolster its artificial intelligence capabilities. What Happened : SoftBank, led by Masayoshi Son , has acquired Graphcore, a startup focused on AI, founded by UK semiconductor industry veterans in 2016. The acquisition is part of SoftBank’s multibillion-dollar AI push and will position Graphcore alongside chip designer Arm Holdings PLC (NASDAQ:

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Music Catalog Giant Hipgnosis Is Sold, and Merck Mercuriadis Exits

NYT M&A

The company, whose pricey acquisitions kicked off a rush on catalog sales, sold its assets to Blackstone for $1.6 billion, and its outspoken leader will step down.

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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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The evolution of customer care: AI and the Gen Z effect

Mckinsey and Company

Gen Z’s influence on consumer behavior and employment trends is driving contact center leaders to integrate AI, adapt to market changes, and implement holistic strategies for customer care.

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Statement Regarding the Activision Amendments

Harvard Corporate Governance

Posted by Michael Hanrahan, Prickett, Jones & Elliott, P.A., on Wednesday, July 10, 2024 Editor's Note: Michael Hanrahan is Director at Prickett, Jones & Elliott, P.A. and Litigator in the Delaware Court of Chancery. This post is based on his recent statement and is part of the Delaware law series ; links to other posts in the series are available here.

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Axel Springer and KKR in talks to break up media empire

Financial Times M&A

Deal would separate group’s media assets from its digital classifieds operation

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Meet David Ellison, the CEO of Skydance and Paramount’s New Owner

NYT M&A

He left college to try out acting. Now, he’s set to become one of the most powerful people in Hollywood.

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Building AI-enabled services

Mckinsey and Company

Advanced digital, automation, and AI technologies offer a great customer experience at low cost. The real challenge is building services organizations that can make the most of these new tools.

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S&P 500 CEO Pay Rebounds After Decline in 2022

Harvard Corporate Governance

Posted by Amit Batish, Equilar, Inc., on Tuesday, July 9, 2024 Editor's Note: Amit Batish is Senior Director of Content at Equilar, Inc. This post is based on an Equilar memorandum by Mr. Batish and Courtney Yu. CEO compensation is a multifaceted and often scrutinized aspect of corporate governance. Public companies typically incentivize CEOs to drive corporate performance with lucrative pay packages.

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Large London office buildings proving almost impossible to sell

Financial Times M&A

High interest rates and hybrid working thwart efforts to kick-start dealmaking

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Royal Mail goes ahead with cuts to UK flights despite takeover

The Guardian M&A

Three more freight flights to go this month as parent company CEO Martin Seidenberg pursues ‘transformation’ The boss of Royal Mail’s parent company has said the company will push on with a “transformation” of the group despite its £3.57bn takeover, as the delivery company prepares this month to cut more daily freight flights. Martin Seidenberg, the chief executive of International Distribution Services, plans “the biggest network change in 20 years” to revamp Royal Mail’s deliveries, despite un

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Where procurement is going next

Mckinsey and Company

Our latest procurement benchmarking data reveals the tools, capabilities, and ways of working that are helping leading companies protect their profits in turbulent times.

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Shareholder Proposal No-Action Requests in the 2024 Proxy Season

Harvard Corporate Governance

Posted by Marc S. Gerber, Skadden, Arps, Slate, Meagher & Flom LLP, on Tuesday, July 9, 2024 Editor's Note: Marc S. Gerber is Partner at Skadden, Arps, Slate, Meagher & Flom LLP. This post is based on his Skadden memorandum. Key Points For the 2024 proxy season, companies submitted approximately 50% more no-action requests for the exclusion of shareholder proposals than they did for the prior proxy season.

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AMD to buy Silo AI for $665mn in drive to compete with Nvidia

Financial Times M&A

All-cash acquisition by California-based chipmaker is the largest of its kind in Europe in a decade

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Installment Sales and Seller Financing for Real Estate Investors

Trout CPA

Written by Randall Weaver, CPA As a real estate investor, maximizing your investment returns while effectively managing tax liabilities can free up cash, and “cash is king” in the current credit market. One strategy that can offer financial and tax advantages is installment sales, often coupled with seller financing. At Trout CPA, we specialize in providing comprehensive accounting, tax, and advisory services tailored to real estate investors.

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Connecting strategy, finance, and personal development: A conversation with Marjorie Lao

Mckinsey and Company

The former CFO of the LEGO Group shares insights and lessons for finance leaders.

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Chancery Court Grants Rare Motion to Dismiss Suit Governed by Entire Fairness

Harvard Corporate Governance

Posted by Randi Lesnick, Andy Levine, and Nick Walter, Jones Day, on Monday, July 8, 2024 Editor's Note: Randi Lesnick and Andy Levine are Co-Chairs of Corporate Practice, and Nick Walter is Of Counsel at Jones Day. This post is based on Jones Day memorandum by Ms. Lesnick, Mr. Levine, Mr. Walter, Ryan Andreoli , Evan Singer , and John Tang , and is part of the Delaware law series ; links to other posts in the series are available here.

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Paramount’s board set to agree sale to Skydance

Financial Times M&A

Hollywood studio moves closer to a deal after months of negotiation

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Regulatory Brief for July 2024: The End of Chevron Deference, and More

N Contracts

Ncontracts regulatory compliance experts brief you on the Supreme Court’s overrule of Chevron Deference, three enforcement actions, and a bevy of news.

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Gen AI and beyond: Where else to focus now

Mckinsey and Company

Yes, gen AI can be dazzling. But to deliver value, leaders will have to look beyond center stage.

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Common Ownership and Hedge Fund Activism: An Unholy Alliance?

Harvard Corporate Governance

Posted by Zohar Goshen (Columbia Law School), and Doron Levit (University of Washington), on Monday, July 8, 2024 Editor's Note: Zohar Goshen is Jerome L. Greene Professor of Transactional Law at Columbia Law School, and Doron Levit is Marion B. Ingersoll Endowed Professor of Finance and Business Economics at the University of Washington Foster School of Business.

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SoftBank to buy UK chipmaker Graphcore in AI push

Financial Times M&A

Deal will give Bristol-based company a resource boost while advancing the ‘next big bet’ of Masayoshi Son’s group

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Carve-Out Success: The Crucial Role of a Transition Services Agreement in M&A Transactions

Redpath

If you are planning an M&A transaction that is a carve-out situation, you want to ensure a successful transition and business continuity. That is the key to retaining value into the future. A TSA defines and drives the process in every detail so the operational takeover can move forward smoothly and nothing is overlooked. Under the TSA, the seller will maintain things as they have done historically for the buyer until the buyer is ready to assume those services on their own.

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