Tue.Mar 12, 2024

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Harnessing the overconfidence of the crowd: A theory of SPACs

Harvard Corporate Governance

Posted by Snehal Banerjee (UC San Diego) and Martin Szydlowski (University of Minnesota), on Tuesday, March 12, 2024 Editor's Note: Snehal Banerjee is an Associate Professor at the University of California, San Diego Rady School of Management, and Martin Szydlowski is an Assistant Professor at the University of Minnesota Carlson School of Management.

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Update on AI

BVR

The issues regarding the shake up at OpenAI settled down, seemingly, as quickly as they fired up. The parent not-for-profit governing organization replaced most or all of its board of directors, but it remains to be seen what structural changes will ultimately result from shake up.

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Trending Sources

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Shareholder Activism Annual Review 2024

Harvard Corporate Governance

Posted by Rebecca Sherratt, Diligent Market Intelligence, on Tuesday, March 12, 2024 Editor's Note: Rebecca Sherratt is a Publications Editor at Diligent Market Intelligence. Related research from the Program on Corporate Governance includes The Long-Term Effects of Hedge Fund Activism (discussed on the Forum here ) by Lucian A. Bebchuk, Alon Brav, and Wei Jiang; Dancing with Activists (discussed on the Forum here ) by Lucian A.

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Where is customer care in 2024?

Mckinsey and Company

Gen Z consumers are picking up the phone, boomers are using digital chat, and AI technologies are reshaping the contact center. For customer care leaders, 2024 could be a transformative year.

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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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Sears and (the Limited Scope of) Controlling Stockholder Fiduciary Duties

Harvard Corporate Governance

Posted by Ethan Klingsberg, Meredith Kotler, and Victor Ma, Freshfields Bruckhaus Deringer LLP, on Tuesday, March 12, 2024 Editor's Note: Ethan Klingsberg and Meredith Kotler are Partners, and Victor Ma is an Associate at Freshfields Bruckhaus Deringer LLP. This post is based on their Freshfields memorandum and is part of the Delaware Law series ; links to other posts in the series are available here.

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The McKinsey Crossword: International Day of Happiness | No. 171

Mckinsey and Company

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.

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More Trending

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Next-gen B2B sales: How three game changers grabbed the opportunity

Mckinsey and Company

Successful B2B companies use various tactics to get ahead in sales—here’s how three players did it.

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From hesitant to hooked: How Copilot unveiled the future of work

Avanade

Discover how Avanade's Copilot for Microsoft 365 champions overcame skepticism, embraced AI and supercharged their productivity and creativity at work.

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Police raid AC Milan headquarters in probe over sale of football club

Financial Times M&A

Investigation into potential irregularities over 2022 deal between Elliott Management and private equity group RedBird

Equity 108
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Spotlight on mobility trends

Mckinsey and Company

It was another year of big changes for the mobility sector as regulation, investment patterns, consumer preferences, and technology continued to evolve.

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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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Ladybug Targets Growth with Acquisition of Two E-Commerce Sites, Anticipating $4M+ Annual Revenue Boost

Benzinga

TULSA, Okla., March 12, 2024 (GLOBE NEWSWIRE) -- Ladybug Resource Group, Inc. (OTC: LBRG ), a leading health and wellness company, is excited to announce through its subsidiary, Growhouse Nutraceuticals Ltd. ("Growhouse"), its plans to expand its North American digital footprint. Growhouse is poised to acquire the flagship website of Plant Power Athletics Inc., marking a strategic move to expand its online presence.

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Asia’s new era: Optimism tempered by geopolitical realities

Mckinsey and Company

The heightened turbulence of the past few years, including the pandemic and geopolitical fracturing at a time of sweeping technological change, gives the world a distinctly uncertain feel. Given all this change, we may well be transitioning to a new era with different economic and political dynamics, writes Kweilin Ellingrud in Forbes.

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What is your forward outlook and how is it impacting value?

JPAbusiness

Being able to prove repeatability of earnings – with robust data and a reasonable level of confidence – is key to maximising business value on exit. As a business valuer I often need to have difficult conversations with clients who assume their business value will be based purely on past performance. They look longingly at past results and say: “Based on those fantastic results I think my business should be worth X.

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Telegraph and Spectator takeover: News Corp and Mail owner consider bids

The Guardian M&A

Planned acquisition by UAE-backed RedBird IMI is being considered by the culture secretary Business live – latest updates Media groups have reportedly shown fresh interest in a takeover of the Telegraph and Spectator alongside Redbird IMI, the UAE backed consortium. Bloomberg said Rupert Murdoch’s News UK and DMGT, which owns the Daily Mail, have shown interest in the Telegraph and Spectator assets as Lucy Frazer, culture secretary, considers reports submitted by competition and media regulators

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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 M&A boutique Evercore became ‘Goldman North’

Financial Times M&A

The New York investment bank is narrowing the gap with its downtown Wall Street rival

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Labor rights? Whatever. TikTok frenzy over Trader Joe’s mini tote bags

The Guardian M&A

High prices, mega mergers and union busting are just water under the bridge judging from the scramble for a new bag What’s so special about Trader Joe’s new mini totes? Aesthetics-wise, nothing: the canvas bag resembles LL Bean’s ubiquitous totes. The only difference is that these ones come stamped with the name of a supermarket chain known for its fancy cheeses, frozen dinners – and the fact that it’s currently one of the corporations lobbying to declare the National Labor Relations Board uncon

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Private equity advisers warn Labour’s carried interest tax plan will hit City

Financial Times M&A

Lawyers and bankers say move will inflict Brexit-level damage on the UK’s dealmaking centre

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These Analysts Revise Their Forecasts On EQT Following Merger News

Benzinga

On Monday, EQT Corporation (NYSE: EQT ) announced that it entered into a definitive merger agreement to acquire Equitrans Midstream Corporation (NYSE: ETRN ). Under the terms of the agreement, EQT will acquire Equitrans in an all-stock transaction, which will create a combined company with an enterprise value of over $35 billion. The merger deal has been unanimously approved by the Boards of both companies.

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Liontrust approaches Artemis for potential tie-up

Financial Times M&A

Early-stage talks between FTSE 250 asset manager and independent boutique come as UK industry faces mounting pressures

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Comment on Marcia Fudge leaving HUD! by Kenneth J Mullinix

Appraisers Blog

Halleluiah!! Appraisers rejoice. Margie Fudge is retiring. As someone who is undergoing year’s long investigation from HUD about me being a “White Racist” and purposefully undervalued a home because I discriminated against the homeowner’s race, I have a very educated view of her retirement. For any appraisers out there that thinks that HUD will do a “Fair and Honest” third party unbiased view of a complaint filed with HUD, think again.

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GE Aerospace Plans $650M Manufacturing Investment

Law 360 M&A

GE Aerospace said Tuesday it plans to invest $650 million into its manufacturing facilities and supply chain this year to bolster support for its commercial and defense customers.

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Comment on Marcia Fudge leaving HUD! by Mary T Thompson

Appraisers Blog

In reply to Frustrated Appraiser. From her BIO she seems like a younger Fudge to me! I do not see any improvements on how they are attacking Appraisers. We shall see!

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1st Amendment Only The Start Of Woes Facing TikTok Ban

Law 360 M&A

Federal lawmakers are making an aggressive push to exclude TikTok from the U.S. market unless it severs ties with its Chinese parent company, but First Amendment concerns and questions over the proposal's breadth and its interplay with a recent executive order restricting certain foreign data sales threaten to hinder these efforts.

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Navigating change management: How CPAs can master the art of adaptation

ThomsonReuters

Jump to: Identify the common barriers to change Overcome the barriers with communication Reframe the narrative Remember your clients Set the expectations for adaptation Running an accounting firm can feel like you’re constantly chasing changes. Some are beyond your control, such as tax code adjustments , staff turnover , or evolving customer expectations.

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FTC Appoints Another ALJ To Handle 'Increased Workload'

Law 360 M&A

The Federal Trade Commission announced the appointment Tuesday of a second administrative law judge, naming a former top antitrust lawyer with the New York Attorney General's Office, with experience representing the left-leaning Open Markets Institute, as the agency presses forward with its aggressive enforcement approach.

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Alcoa Seals $2.2B Deal To Acquire Alumina Limited, Amplifying Market Presence

Benzinga

Alcoa (NYSE: AA ) inked a binding Scheme Implementation Deed to acquire Alumina Limited (OTC: AWCMF ) in an all-scrip, or all-stock, transaction. Last month, Alcoa made a $2.2 billion offer to acquire Alumina, its Alcoa World Alumina & Chemicals (AWAC) joint-venture partner. Based on Alcoa’s closing share price as of February 23, 2024, the last trading day before the announcement of the Process Deed, the Agreed Ratio implies a value of A$1.15 per Alumina Limited share.

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Manufacturer Spars With Ex-Officers Over Case Dismissal

Law 360 M&A

A polyethylene foam manufacturer says showing professional courtesy shouldn't mean it doesn't have its day in court, asking during oral arguments Tuesday for a Texas state appeals court to reverse a decision to end its case against two of its former executives for want of prosecution.

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FTC's Kroger-Albertsons Deal Challenge Set For August Trial: Report

Benzinga

The U.S. Federal Trade Commission’s effort to halt the $24.6 billion merger between Kroger Co. (NYSE: KR ) and Albertsons Companies Inc (NYSE: ACI ) is reportedly slated for trial in Oregon at the end of August. U.S. District Judge Adrienne Nelson set the trial to commence on August 26 in Portland, anticipated to span two to three weeks, reported Bloomberg.

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SEC Says Ex-Tallgrass Director Tipped Pals To $3.5B Takeover

Law 360 M&A

The U.S. Securities and Exchange Commission on Tuesday fined a former director of Tallgrass Energy LP accused of committing insider trading by tipping off friends about the then-upcoming $3.5 billion sale of the corporation to private equity giant Blackstone.

Equity 52
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Strategy Execution Explained: Transforming Vision into Action

Rhythm Systems

Strategy execution refers to the process of implementing and operationalizing an organization's strategic plans. It involves translating high-level strategic goals and objectives into specific actions and initiatives that can be carried out by the various departments and teams within the organization. Effective strategy execution is crucial for the success of any business, as it bridges the gap between planning and actual performance.

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Ex-Biopharma CEO Sues For Post-Sale Share Appraisal In Del.

Law 360 M&A

The co-founder of Caraway Therapeutics Inc. sued in Delaware's Court of Chancery on Tuesday for an appraisal of his shares following the company's November merger with a subsidiary of pharmaceutical giant Merck, alleging that it "was an unfair cash-out transaction" and that he is owed at least a million more shares.

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Net Debt Bridge – Concept and Formula Explained

Valutico

Valutico | February 6, 2024 This article aims to bridge the gap in financial analysis and unveil the significance of the Net Debt Bridge. What is a net debt bridge? Net debt is the difference between a company’s total debt and its total cash (and cash equivalents), whereas the net debt bridge is a financial analysis tool used to dissect and quantify changes in net debt over a specific period.

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Breast Implant Co.'s $90M DIP OK'd With Creditor Protections

Law 360 M&A

Bankrupt breast implant maker Sientra Inc. received final court approval in Delaware bankruptcy court for its $90 million debtor-in-possession financing after adding in lien challenge protections for unsecured creditors.

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Private equity’s pet problems are a harbinger of things to come

Financial Times M&A

The sector is attracting increasing regulatory attention

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