Fri.Feb 09, 2024

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A New Season for Executive Compensation Disclosure

Harvard Corporate Governance

Posted by Michael Albano, Laura Bagarella, and Julia Petty, Cleary Gottlieb Steen & Hamilton LLP, on Friday, February 9, 2024 Editor's Note: Michael Albano is a Partner, Laura Bagarella is Counsel, and Julia Petty is a Partner at Cleary Gottlieb Steen & Hamilton LLP. This post is based on a Cleary Gottlieb memorandum by Mr. Albano, Ms. Bagarella, Ms.

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How to achieve great health for all? Start in your city.

Mckinsey and Company

MHI estimates that a focus on immediately influenceable interventions at the city level can add approximately 20 billion to 25 billion years of higher-quality life at a global level.

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Weekly Roundup: February 2-8, 2024

Harvard Corporate Governance

Posted by the Harvard Law School Forum on Corporate Governance, on Friday, February 9, 2024 Editor's Note: This roundup contains a collection of the posts published on the Forum during the week of February 2-8, 2024 The Corporate Investment Benefits of Mutual Fund Dual Holdings 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 Tags: corporate bonds , Dual h

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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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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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Spark & Sustain: How all of the world’s school systems can improve learning at scale

Mckinsey and Company

With student learning improvements not keeping up with today’s ever-shifting demands, it is more important than ever before to improve the quality and equity of education systems around the world.

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Industrials Company Owens-Corning Announces Acquisition of Masonite International

Benzinga

Owens-Corning (NYSE: OC ) has announced an acquisition of Masonite International (NYSE: DOOR ) that is expected to be completed 2024-H1. Under the terms of the agreement, Owens-Corning has agreed to give Masonite International $3.90 billion in cash in exchange for DOOR stock. About The Companies Involved Owens-Corning Inc is a manufacturer of glass fiber utilized in composites and building materials.

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No More Shady Trading For Ex-FBI Trainee After BigLaw Theft

Law 360 M&A

The former FBI trainee who secretly traded nonpublic information that he stole from his BigLaw associate ex-girlfriend has agreed to a civil judgment against him permanently barring him from violating securities laws, a judgment entered just months after he pled guilty to insider trading.

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Automotive R&D transformation: Optimizing gen AI’s potential value

Mckinsey and Company

Automotive manufacturers could realize time and cost savings and quality improvements by implementing generative AI functions that add value at all stages of the R&D process.

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Super Bowl Broadcast Is a Crossroads for CBS Sports

NYT M&A

The storied network is facing a wave of change, including new leadership, the possible sale of its parent company and the continued challenge of streaming.

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How to Calculate, Analyze, and Improve SaaS CAC

Lighter Capital

Before online tools allowed companies to see exactly where their customers were coming from, advertising was a big old guessing game. Was a new buyer drawn in by a particular promotion? No way to tell! Was an expensive ad buy really worth it, in terms of ROI? Who knows! Let’s throw more at the wall and hope that it sticks. Tracking tools helped all types of businesses in the modern era avoid groping for answers in the dark, and they’re especially effective for SaaS companies that operate almost

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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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FTC Clears AbbVie To Proceed With $10.1B ImmunoGen Buy

Law 360 M&A

The 30-day waiting period for U.S. antitrust enforcers to review AbbVie's $10.1 billion purchase of ImmunoGen came and went without a move to deepen the investigation or challenge the deal, clearing the parties to close the agreement on or about Monday, ImmunoGen said on Thursday.

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Benchmark International Successfully Facilitated The Transaction Between Premier Grease Recycling & Services LLC And Texas Feed Fat Co., Inc.

Benchmark Report

Premier Grease Recycling & Services LLC is a waste oil and removal company headquartered in Abilene, Texas. The company provides recycling services to their clients, supplemental container system installation, and repairs at client facilities.

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MPs call for strengthening of UK takeover screening powers

Financial Times M&A

Rules to block foreign takeovers of strategic assets on security grounds ‘not keeping pace’ with threats, says committee

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Oil & Gas Player Devon Energy Seeks Enerplus Acquisition: Report

Benzinga

Shale producer Devon Energy Corporation (NYSE: DVN ) has reportedly given an acquisition offer to Enerplus Corp (NYSE: ERF ) for an undisclosed amount. Enerplus, which has a market value of C$4 billion ($3 billion), operates mainly in the Bakken Basin in North Dakota, and the deal, if it materializes, would complement its existing presence in North Dakota and reduce its reliance on the Delaware Basin in Texas and New Mexico, reported Reuters.

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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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Comment on Class Valuation Maximizing ROV Conversion Rates by Frustrated Appraiser

Appraisers Blog

Nationwide competency? So many extremely qualified, well educated, experiences and competent appraisers refuse to work for Class and other similar companies. Their “ad” really begs the question, why are they not being investigated? Possible AIR violations and strong arming appraisers? Or incompetent appraisers? Also, they have staff appraisers, and that alone is a conflict of interest, well, to anyone with at least half of a functioning brain.

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Carlyle to sell UK video games maker Jagex for £910mn

Financial Times M&A

Europe’s CVC Capital Partners and US-based Haveli Investments agree to buy ‘RuneScape’ developer

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Comment on Class Valuation Maximizing ROV Conversion Rates by Mary T Thompson

Appraisers Blog

AS NOTED IN BILL’S REPLY: “If a ROV is requested, an explanation is required from the supplying party/parties as to why the new sales are superior to the appraisers comps.” LET US NOT FORGET THIS. Do not reply to ROV’s unless this is included by the lender. Totally agree, they have less experienced Apprasiers WHO will also make the numbers work for the AMC.

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Benchmark International Successfully Facilitated The Transaction Between Premier Grease Recycling & Services LLC And Texas Feed Fat Co., Inc.

Benchmark Report

Premier Grease Recycling & Services LLC is a waste oil and removal company headquartered in Abilene, Texas. The company provides recycling services to their clients, supplemental container system installation, and repairs at client facilities.

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Comment on Class Valuation Maximizing ROV Conversion Rates by Mary Cummins on Facebook

Appraisers Blog

A ROV which causes a value to change either means there was a mistake in the appraisal or appraiser was pressured to change it. Either situation is not good. Of course there’s no way to know if what Class said is true or not.

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RIA M&A: What Can Possibly Go Wrong?

Auto Dealer Valuation Insights

As business combinations go, it’s hard to imagine a better press release: Ferrari, the most storied and most successful name in Formula One racing history and the only team to compete in every world championship ever held, boasting a top 16 Constructors’ Championships and 15 Drivers’ Championships… …signs Lewis Hamilton, the most recognizable and winningest driver in Formula One… Source

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Comment on Class Valuation Maximizing ROV Conversion Rates by AppraisersBlogs Team

Appraisers Blog

In reply to Older and maybe Wiser. “Unless………………they pay big for advertising on here?” Did you mean on AppraisersBlogs? This couldn’t ben further from the truth! The idea that AppraisersBlogs is paid by AMCs to advertise their services is completely false. In fact, the opposite is true. Most of the articles published on this blog are critical of AMCs.

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Labaton, Rolnick Clash Over Legal Fees In Materials Co. Deal

Law 360 M&A

Law-firm battling has sharpened over multimillion-dollar legal fee claims linked to a proposed $19 million Delaware Court of Chancery settlement for a stockholder suit challenging a $3.1 billion materials company sale in 2019, court records show.

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Comment on Damned If You Do and Damned If You Don’t by Mary T Thompson

Appraisers Blog

In reply to NB. Love the Kevlar vest comment. I used to work for Fannie Mae doing REO’s in downtown Atlanta until we came across 2 guys in the street getting ready to shoot each other. We were right in the middle of the 2. Left the area, went home and told Fannie, would love to do work for you but NOT in Alanta Metro. Too dangerous. That was years ago when they were not even on the BIAS train……they changed my area to closer to where I live and it was good for many years until R

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JPMorgan Lowers Piedmont Lithium Price Target; This IPO Is Oversubscribed; Nexa Reports Results; Compass Refocuses

Benzinga

1. JPMorgan Chase analyst Bill Peterson maintained a Neutral rating on Piedmont Lithium Inc. (NASDAQ: PLL ) and lowered his price target from $25 to $15. 2. Metals Acquisition Limited (NYSE: MTAL ) announced its initial public offering of CHESS depository interests in Australia was oversubscribed , receiving strong demand from both new investors and existing institutional shareholders.

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Comment on Shane Lanham Countersuing Black Homeowners for Defamation by Eric Morse

Appraisers Blog

Maybe expose the name of your insurance company. If it’s an E&O business they should help to cover the cost difference after 100k. It could also be beneficial to their business model if they stand up and help fight or, hurt them if they refuse. Otherwise, what’s the point of having E&O for a situation like this?

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Healthcare-Focused SPAC Hits The Market After $160M IPO

Law 360 M&A

Blank-check company Helix Acquisition Corp. II hit the public markets on Friday following its upsized initial public offering, which raised $160 million by offering 16 million shares at a price of $10 apiece.

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Comment on AMCs Billing Scheme, Hidden Profits & Deceptive Practices by garth

Appraisers Blog

In reply to ej. Agree! The first one had a Monthly Performance Rating. Via good ratings YOU could get on their Magazine Cover !! ( NO thank you.) Every so often, the State Rep’ you had was switched for a Rep’ that had been covering another State. Just so we don’t get acquainted??? Performance: The rating is their software, be it right or wrong.

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Just Released | 4Q23 Exploration & Production Newsletter

Auto Dealer Valuation Insights

Mercer Capital’s Value Focus: Exploration & Production newsletter provides an overview of the industry through supply and demand analysis, commodity pricing, and public market performance. In addition, each issue of this quarterly newsletter focuses on a region, including Eagle Ford, Permian, Appalachia, and Haynesville, examining general economic and industry trends.

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Eargo Investors Sue In Del. For Patient Square Merger Docs

Law 360 M&A

Two shareholders of California medical device company Eargo Inc. sued in Delaware's Court of Chancery on Thursday, seeking books and records to investigate potential wrongdoing and breaches of fiduciary duties in connection with a pending buyout by controlling shareholder Patient Square Capital LP.

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January 2024 SAAR

Auto Dealer Valuation Insights

The January 2024 SAAR was 15.0 million units, down 6.9% from last month and roughly flat (down 0.7%) compared to this time last year. Following 17 consecutive months of year-over-year improvements, the January 2024 SAAR ended the streak with a slight decline.

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Audacy Floats Two Ch. 11 Sales That Could Net Debtor $21.6M

Law 360 M&A

Bankrupt radio station operator Audacy Inc. wants to sell two pieces of real estate near Boston for as much as $21.6 million to raise funds for its estate in Chapter 11, asking a Texas judge to approve the deals so that it can close on them by early March.

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Building Materials Supplier Owens Corning Agrees To Buy Masonite In $3.9B Deal, Expects $13B Revenue Boost

Benzinga

Friday, building and construction materials player Owens Corning Inc (NYSE: OC ) agreed to acquire Masonite International Corporation (NYSE: DOOR ) for $133.00 per share in cash, representing an approximate 38% premium to Masonite’s closing share price on February 8. The implied transaction value is approximately $3.9 billion, implying a purchase multiple of approximately 8.6x 2023E adjusted EBITDA2 or 6.8x when including synergies of $125 million.

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Owens Corning To Buy Door Maker Masonite In $3.9B Deal

Law 360 M&A

Ohio-based construction materials manufacturer Owens Corning said Friday it has inked a $3.9 billion agreement to buy Tampa, Florida-based door maker Masonite International Corp., just weeks after the latter company's earlier effort to buy PGT Innovations Inc. fell through.

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How ambient AI will change the lives of corporate tax professionals

ThomsonReuters

As we look to the future, the path of ambient AI goes beyond the workplace, affecting our daily interactions and experiences. AI-enabled self-driving transportation, real-world trials, and deployments are coming soon, shaping logistics, delivery vehicles, and Uber-like services. AI will become a vital part of our lives, subtly influencing how we operate without being obvious.