Sat.May 27, 2023 - Fri.Jun 02, 2023

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Florida Passes Farthest-Reaching Anti-ESG Law to Date

Harvard Corporate Governance

Posted by Leah Malone and Emily B. Holland, Simpson Thacher and Bartlett LLP, on Saturday, May 27, 2023 Editor's Note: Leah Malone is a Partner and Emily B. Holland is Counsel, at Simpson Thacher and Bartlett LLP. This post is based on a Simpson Thacher & Bartlett LLP memorandum by Ms. Malone, Ms. Holland, Carolyn S. Houston , and May Mansour. Related research from the Program on Corporate Governance includes The Illusory Promise of Stakeholder Governance (discussed on the Forum here ) by

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Six Glazer siblings to retain Man Utd stakes under Ratcliffe offer

Financial Times M&A

News, analysis and comment from the Financial Times, the worldʼs leading global business publication

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Author Talks: What does it mean to be a good middle manager?

Mckinsey and Company

Three McKinsey partners discuss the untapped value in middle managers that most companies leave on the table.

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Selling a Business? Remember, Cash Is King. (Here’s Why)

Viking Mergers

Why do people say cash is king when selling a business? And what does it really mean? “Cash is king” in the context of selling a business emphasizes the importance of cash flow and liquidity in determining the value and attractiveness of the company to potential buyers. Here are a few key reasons why cash is king when selling a business: 1.

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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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It’s Time to Call a Truce in the Red State/Blue State ESG Culture War

Harvard Corporate Governance

Posted by Robert G. Eccles (Oxford University) and Eli Lehrer (R Street Institute) , on Monday, May 29, 2023 Editor's Note: Robert Eccles is Visiting Professor of Management Practice at Oxford University Said Business School and Eli Lehrer is the co-founder and President of the R Street Institute. This post is based on their recent piece. Related research from the Program on Corporate Governance includes The Illusory Promise of Stakeholder Governance (discussed on the Forum here ) by Lucian A

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Succession Review: The Best Finance TV Show and One of the Best Shows of All Time

Brian DeChesare

Succession just ended a few days ago. When a top TV show ends, it is sad. All our favorite shows will end one day. In this case, it is Succession that has done so. Succession ran for 4 excellent seasons, but no more. Now it is over. And now I am sad. But unlike Connor Roy at Lester’s funeral , I can write a real eulogy via my final review of this show.

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Appraised Value vs. Market Value: Understanding the Differences and Why They Matter

Viking Mergers

If you are considering selling your small to midsize business, you may already know that extensive financial information goes into constructing a deal. Appraisal and fair market values are two of these figures, which are fundamental in getting the most money for the company you have worked hard to build. Although these two numbers should ideally be the same, fluctuations in the market coupled with more subjective factors not found on paper often mean that it is different.

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Anti-ESG Shareholder Proposals in 2023

Harvard Corporate Governance

Posted by Heidi Welsh, Sustainable Investment Institute, on Thursday, June 1, 2023 Editor's Note: Heidi Welsh is the Executive Director at the Sustainable Investments Institute. Related research from the Program on Corporate Governance includes The Illusory Promise of Stakeholder Governance (discussed on the Forum here ) by Lucian A. Bebchuk and Roberto Tallarita ; How Much Do Investors Care about Social Responsibility?

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Exploring The Advantages Of Vertical Integration

Benchmark Report

Vertical Integration Vertical integration is a strategy that involves a company expanding its operations into other stages of its supply chain. This means that a company takes control of its suppliers, distributors, or both. Vertical integration can be achieved in two ways, either through backward integration or forward integration.

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Is your workplace ready for flexible work? A survey offers clues

Mckinsey and Company

Flexible work can deliver both better employee engagement and real estate savings. Here’s how tenants and investors can prepare.

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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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Can Franklin buy its way to survival in the asset management thunderdome?

Financial Times M&A

News, analysis and comment from the Financial Times, the worldʼs leading global business publication

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Disloyal Managers and Shareholders’ Wealth

Harvard Corporate Governance

Posted by Elierzer M. Fich (Drexel University), Jarrad Harford (University of Washington), and Anh L. Tran (City University of London) , on Tuesday, May 30, 2023 Editor's Note: Eliezer Fich is Professor of Finance at Drexel University LeBow College of Business, Jarrad Harford is Professor of Business Administration at the University of Washington Foster School of Business, and Anh L.

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7 Considerations When Preparing Your Payroll Budget

Machen McChesney

Most companies spend 20% to 30% of their annual revenue on payroll. The exact amount varies based on the employer's size, industry, staffing, and operational needs. In some industries, such as service, it's not uncommon for payroll to encompass up to 50% of revenue. For other industries, such as manufacturing and food and beverage, it usually takes up no more than 20% to 30%.

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Forward Thinking on the brave new world of generative AI with Ethan Mollick

Mckinsey and Company

“I really worry that people are not taking this seriously enough … this fundamentally is going to be a shift in how we work and how we interact at a level that’s as big as anything we’ve seen in our lifetimes.” A leading business school professor talks about why he thinks the technology underlying ChatGPT is so transformative that he is betting his career on it.

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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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How Attorneys Can Help Combat Anti-Asian Hate

Law 360 M&A

Amid an exponential increase in violence against Asian American and Pacific Islander communities, unique obstacles stand in the way of accountability and justice — but lawyers can effect powerful change by raising awareness, offering legal representation, advocating for victims’ rights and more, say attorneys at Gibson Dunn.

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Officer Exculpation Under Delaware Law—Encouraging Results in Year One

Harvard Corporate Governance

Posted by Brian V. Breheny, Allison L. Land, and Ryan J. Adams, Skadden, Arps, Slate, Meagher & Flom LLP, on Thursday, June 1, 2023 Editor's Note: Brian V. Breheny , and Allison L. Land are Partners and Ryan J. Adams is Counsel at Skadden, Arps, Slate, Meagher & Flom LLP. This post is by Mr. Breheny, Ms. Land, Mr. Adams, Alexander J. Vargas and Melanie Yeames , and is part of the Delaware law series ; links to other posts in the series are available here.

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Dechra agrees £4.5bn takeover offer from buyout group EQT

Financial Times M&A

News, analysis and comment from the Financial Times, the worldʼs leading global business publication

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The art of software pricing: Unleashing growth with data-driven insights

Mckinsey and Company

Software companies struggling with shrinking margins can unlock the power of pricing by considering five actions for profitability in a market focused on efficient growth.

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Does Software Development Count as a Research and Development Tax Credit?

Redpath

Editor's note: This piece was updated from 2020 to include additional resources. June 1, 2023 — Encouraging U.S. economic performance to reach its potential is important enough that there is a tax credit for research and development (R&D). Technology companies, and really any company that works with software, should make sure they’re taking advantage of it if they are eligible.

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Significant Amendments to Private Fund Adviser Reporting on Form PF

Harvard Corporate Governance

Posted by Diane Blizzard and Radhika Kshatriya, Kirkland & Ellis LLP, on Sunday, May 28, 2023 Editor's Note: Diane Blizzard is a Partner and Radhika Kshatriya is an Associate at Kirkland & Ellis LLP. This post is based on a Kirkland & Ellis memorandum by Ms. Blizzard, Ms. Kshatriya, Nick Hemmingsen , Daniel Kahl , Scott A. Moehrke , and Reed T.

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3 Firms Seek $27.6M For $87.5M Time Warner-Charter Deal

Law 360 M&A

Bernstein Litowitz Berger & Grossmann LLP, Block & Leviton LLP and Heyman Enerio Gattuso & Hirzel LLP are asking the Delaware Chancery Court to award them roughly $27.6 million in connection with a proposed $87.5 million deal that would end a stockholder derivative challenge to the $55 billion Charter Communications-Time Warner Cable merger.

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What is personalization?

Mckinsey and Company

In marketing, personalization is when seller organizations use data to tailor messages to specific users’ preferences.

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Can the HIPAA Privacy and Security Official Position be Held by a Third Party?

ThomsonReuters

QUESTION: Is our group health plan permitted to outsource the roles of HIPAA privacy official and security official? ANSWER: Possibly, but it would be prudent to seek the advice of legal counsel given the absence of official guidance. Most covered entities must designate a privacy official who is responsible for the development and implementation of the entity’s HIPAA privacy policies and procedures.

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Weekly Roundup: May 26-June 1, 2023

Harvard Corporate Governance

Posted by the Harvard Law School Forum on Corporate Governance, on Friday, June 2, 2023 Editor's Note: This roundup contains a collection of the posts published on the Forum during the week of May 26-June 1, 2023 Modernization of Beneficial Ownership Reporting Rule Proposal Posted by Jonathan H. Gaines, David S. Rosenthal, and Christopher Soares, Dechert LLP, on Friday, May 26, 2023 Tags: Beneficial owners , Disclosure , Monetary policy , Risk , SEC enforcement , Securities Exchange Act of 1934

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Louisiana Ear, Nose, Throat and Sinus Becomes the First Elevate ENT Practice in Louisiana State

Business Wire M&A

MIAMI LAKES, Fl.--(BUSINESS WIRE)--Elevate ENT Partners (“Elevate”), a leading management support organization (“MSO”) of ear, nose, and throat (“ENT”) practices nationwide, announced it has acquired Louisiana Ear, Nose, Throat and Sinus (“LENTS”). This transaction follows the recent acquisitions of Ear, Nose & Throat Associates of Texas and Florida’s Otolaryngology Consultants PA.

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The state of AI in GCC countries—and how to overcome adoption challenges

Mckinsey and Company

Research suggests that AI uptake remains low and points to how companies in the region can overcome the hurdles delaying the capture of AI’s potentially high rewards.

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Alternatives M&A: keeping up with the Blackstones will invite scrutiny

Financial Times M&A

TPG deal for Angelo Gordon highlights the drivers of concentration of power in the industry

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The Imperfect CEO

Harvard Corporate Governance

Posted by Justus O'Brien and Dean Stamoulis, Russell Reynolds Associates, on Monday, May 29, 2023 Editor's Note: Justus O’Brien co-leads the Board & CEO Advisory Partners Practice and Dean Stamoulis is a Managing Directer at Russell Reynolds Associates. This post is based on their Russell Reynolds memorandum. Why businesses should embrace the imperfect CEO Imperfection isn’t failure.

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Elite Announces Completion of Majority Acquisition by TPG

Business Wire M&A

SAN FRANCISCO & FORT WORTH, Texas--(BUSINESS WIRE)--Elite, a provider of financial and practice management solutions to law firms, today announced that it has completed its previously announced acquisition by TPG, a global alternative asset management firm. TPG acquired the business from Thomson Reuters, which has retained a minority interest in Elite.

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Trends driving automation on the farm

Mckinsey and Company

Economic pressures and the push toward more-sustainable practices are driving next-generation automation technologies, benefiting farmers, regulators, and consumers alike.

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The UK’s competition watchdog risks undermining business dynamism

Financial Times M&A

A decision by the CMA to block the Microsoft and Activision Blizzard merger has provoked debate about its role

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New Disclosures in Periodic Reports on Share Repurchases

Harvard Corporate Governance

Posted by Eric Orsic, Heidi J. Steele, and Diana Douglas, McDermott Will & Emery LLP, on Wednesday, May 31, 2023 Editor's Note: Eric Orsic , Heidi J. Steele , and Diana Douglas are Partners at McDermott Will & Emery LLP. This post is based on their MWE memorandum. Related research from the Program on Corporate Governance includes Short-Termism and Capital Flows (discussed on the Forum here ) by Jesse M.

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MGG Investment Group Supports Investment in United Medical Systems

Business Wire M&A

NEW YORK--(BUSINESS WIRE)--MGG Investment Group LP (“MGG”) today announced that it has made a debt and equity investment to support Access & Integrated Practice Holdings’ acquisition of United Medical Systems Inc. (“UMS”), a national provider of premier transportable and in-house urology solutions to hospitals, surgery centers, and offices. Terms of the transaction were not disclosed.

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Redesigning apparel manufacturing in Asia: A pattern for resilience

Mckinsey and Company

Apparel manufacturers in Asia are facing significant challenges with the current economic environment and drop in global demand—however, solutions for the near and long term are to hand.

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