Fri.Apr 26, 2024

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IVSC Valuation Webinar Series 2024, Sponsored by Kroll

IVSC

Now in its fifth year, the IVSC is pleased to present the 2024 Valuation Webinar Series, sponsored by Kroll, running from 13-25 June 2024. This year’s series includes five engaging sessions where international experts share their insights on a range of valuation-themed topics. Join us to explore key trends and the latest developments in the world of valuation.

Banking 130
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Weekly Roundup: April 19-25, 2024

Harvard Corporate Governance

Posted by the Harvard Law School Forum on Corporate Governance, on Friday, April 26, 2024 Editor's Note: This roundup contains a collection of the posts published on the Forum during the week of April 19-25, 2024 The Hidden Logic of Shareholder Democracy Posted by Usha Rodrigues (University of Georgia), on Friday, April 19, 2024 Tags: AMC , DGCL , Shareholder , Voting The Case Against the SEC’s Final Climate Rules Begins in Earnest (and What It Means) Posted by Paul Davies, Sarah Fortt, and Bett

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Trending Sources

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Michael C. Jensen, Who Helped Reshape Modern Capitalism, Dies at 84

NYT M&A

He heralded stock options and golden parachutes as a professor at Harvard Business School, influencing a generation of Wall Street executives.

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Comment on Fannie Mae to Maryland: DROP DEAD by Baggins

Appraisers Blog

In reply to Eric Kretz. Eric, I did listen to that today. The outlook is rather bleak. I am not sure if marketing is even worth it anymore. Contraction is everywhere. The GSE’s appear to be advocating for investor class dominance of residential housing markets, supported by automation. I mean hell, my reserve smaller lawn mower would not even start and somehow the front wheel is broken.

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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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Ex-BP Manager Charged With TravelCenters Insider Trading

Law 360 M&A

A former senior manager at BP PLC on Friday became the second person accused by the U.S. Department of Justice and the U.S. Securities and Exchange Commission of engaging in insider trading over the British oil and gas company's $1.3 billion planned acquisition of TravelCenters of America Inc.

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Comment on Fannie Mae to Maryland: DROP DEAD by Eric Kretz

Appraisers Blog

In reply to Baggins. Baggins- That is scary. Data analytics models for loan treatment? The Colorado overlords know not what they do if they green-light this, which could set a dangerous precedent. I’ll read more on this later.

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Comment on Fannie Mae to Maryland: DROP DEAD by Baggins

Appraisers Blog

In reply to Eric Kretz. Thank you. The redlining article from a few days ago, more detail. Basically social credit score systems. Perhaps the most interesting part; In the effort of independent software developers to patent their products specifically designed to be marketed to lenders and investors, developed based upon lenders and investors own current processes and goals, via patent process specific detailed disclosure to create a copyright, we get to read and learn about behind the scenes op

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Paul Marshall expected to bid for Telegraph after quitting GB News board

The Guardian M&A

Investor’s move comes amid reports RedBird IMI is to formally withdraw its attempt to buy the newspaper The GB News investor Sir Paul Marshall is stepping down from the board of the broadcaster after three years, it was announced on Friday. Marshall is expected to be a frontrunner in the race to buy the Telegraph when the auction process reopens, after the government in effect scuppered its planned sale of the newspaper to a United Arab Emirates-backed consortium, RedBird IMI.

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Comment on The One-Mile Rule: Prudent Policy or Modern Day Redlining? by Cassandra Vaughn

Appraisers Blog

I refused to adhere. Guidelines ask for best comparable for an area. I’m rural. Comps oftentimes are 20 miles +. That’s where the sales are located. I cannot create a market which doesn’t exist. I use the data present and make logical inferences and data to support. Same with the %. It is what it is or reconsider doing business in this market.

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Thoma Bravo agrees to buy UK-listed Darktrace in $5bn deal

Financial Times M&A

Offer comes less than two years after private equity group previously held talks about buying cyber security company

Equity 108
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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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Comment on The Censorship of Appraisers by Baggins

Appraisers Blog

In reply to Eric Kretz. Thanks Eric. That’s where more photos come in, fewer generalizations, more specific writing, less pre write. Takes longer to review, less time for nit picking, better describes every component of the home, generally keeps revision clarification requests very low Aim for 100 to 150 photos per inspect, sometimes to 200+. Never stop clicking.

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Paramount’s Chief Executive Bob Bakish Could Be Out Next Week

NYT M&A

Once a staunch ally of Paramount’s biggest owner, Shari Redstone, Mr. Bakish’s relationship with her soured in recent months.

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Comment on The Censorship of Appraisers by Baggins

Appraisers Blog

Jon Caldara. Censorship, five years later. Thought that was a fun re read for perspective today. [link] Check this out, random find. [link] Firstsource collaborates with 5 of the top 15 ML’s in the US. Read all of page 30, keyword; mortgage. Are these the companies and tools driving changes and complaints, repurchase requests? Perhaps so. Firstsource has successfully implemented a structured Robotic Automation Process for a leading US mortgage company, enabling them to overcome the challen

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Cybersecurity firm Darktrace agrees $5.3bn sale to US private equity business

The Guardian M&A

UK company’s offer from Thoma Bravo is 44% higher than average share price over past three months The Cambridge-based cybersecurity and artificial intelligence company Darktrace is likely to become the latest British technology champion to be swallowed up by a US suitor, after it agreed a $5.3bn (£4.2bn) sale to US private equity business Thoma Bravo.

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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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Elliott Management's $1B Anglo American Stake Ups Ante As Mining Megamerger Collapses

Benzinga

Activist investor Elliott Management has quietly built a $1 billion stake in Anglo American (OTCQX: NGLOY ), adding pressure to the UK-listed mining giant after it became the target of a $39 billion takeover bid from BHP Group (NYSE: BHP ). This development emerged after Anglo American's board rejected BHP’s offer , deeming it “highly unattractive” due to its undervaluation of the company’s prospects and its complex structure.

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US dealmakers forced to adjust as unions flex their muscles

Financial Times M&A

Workers’ groups increasingly adopt strategies used by activist hedge funds to exert pressure on companies

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Why Industrial Minerals Company U.S. Silica Shares Are Rocketing Today

Benzinga

U.S. Silica Holdings, Inc. (NYSE: SLCA ) shares are trading higher after the company inked a deal to be acquired by funds managed by affiliates of Apollo Global Management, Inc. (NYSE: APO ) for around $1.85 billion. M&A Deal : As per the deal, U.S. Silica shareholders will receive $15.50 per share in cash for each share they own, representing an 18.7% premium to its closing share price as of $13.06 on April 25 and a 33.0% premium to 90-day volume-weighted average share price for the period

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ExxonMobil’s profit falls 28% on weaker gas prices and refining margins

Financial Times M&A

Oil major’s finance chief highlights ‘troubling’ geopolitical events in the Middle East and Russia

Finance 97
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Sustainable Business Practices and M&A: A Catalyst for Long-Term Value

Sun Acquisitions

The business landscape is transforming in an era where climate change, resource depletion, and social responsibility are at the forefront of global conversations. The integration of sustainability into various facets of business operations has become both a moral imperative and a strategic necessity. This shift is increasingly evident in the realm of mergers and acquisitions (M&A).

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Darktrace exit snuffs out another light on the London market

Financial Times M&A

The cyber specialist has had a bumpy three-year ride as a public company

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Navigating the Risk-Reward Equation in Mergers and Acquisitions: Unveiling the Dynamics of Financing Models

Sun Acquisitions

Mergers and acquisitions (M&A) have long been strategic maneuvers for companies seeking growth, market dominance, or increased efficiency. As organizations embark on these transformative journeys, one critical aspect that demands meticulous consideration is the financing model. The risk-reward equation in M&A financing is a delicate balance, where potential pitfalls and gains play a pivotal role in shaping the merged entity’s future.

Finance 59
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Anglo American rejects £31bn takeover offer from mining rival BHP

The Guardian M&A

All-share proposal had potential to be one of biggest deals in sector for decade but deemed ‘opportunistic’ Business live – latest updates The board of Anglo American, the London-listed mining company, has rejected a £31bn takeover approach from the Australian rival BHP. BHP’s all-share proposed offer for Anglo American had the potential to be one of the biggest deals in the global mining sector for a decade but has attracted criticism from Anglo’s shareholders as being too low and “highly oppor

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Abu Dhabi-backed RedBird IMI set to withdraw from Telegraph takeover

Financial Times M&A

Resulting auction process expected to attract bidders including Rupert Murdoch and hedge fund boss Paul Marshall

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Business Valuation for Buying a Construction Business

Peak Business Valuation

The construction industry is highly fragmented with over 3.7 million construction companies in the United States. However, there are many baby boomers with construction companies looking to retire. As such, hundreds of construction companies are bought and sold each year. Acquiring a construction business can be a lucrative investment opportunity. First-time buyers can bypass the challenges of starting a business from scratch.

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TikTok Ban Reveals Congress' Power In Place Of CFIUS Limits

Law 360 M&A

The new law calling for TikTok's Chinese parent company to sell the app or get banned in the U.S. reflects the limits of national security reviews and shows how Congress and the president may bolster, or circumvent, them going forward.

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The Beginning of a Bakken Behemoth

Auto Dealer Valuation Insights

In a significant development for the energy industry, on February 21, 2024, Chord Energy Corporation and Enerplus Corporation announced a definitive agreement to merge. This strategic combination aims to create a powerhouse in the Williston Basin, leveraging their complementary strengths and operational expertise.

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Wash. Judge Doubts He Can Block Kroger Merger

Law 360 M&A

A Washington state judge said Friday he had "serious doubts" he could block the $24.6 billion Kroger and Albertsons merger but declined to dismiss the state attorney general's lawsuit seeking to derail the deal, saying that the state still had more narrowly tailored remedies to address its anti-competition concerns.

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What Is the Income Approach and How Is It Utilized for Auto Dealer Valuations?

Auto Dealer Valuation Insights

A thoughtful business valuation of an auto dealership will likely rely on multiple approaches to derive an indication of value. While each approach should be considered, the approach(es) ultimately relied upon will depend on the unique facts and circumstances of the dealership and its operating conditions. In a recent post, we focused on the asset approach for valuing auto dealerships.

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Crypto Mining Co. Execs Face Suit Over Merger Shortcomings

Law 360 M&A

Executives and directors of crypto mining company Hut 8 have been hit with a shareholder derivative suit claiming they failed to disclose the severe financial and operational issues of a company Hut 8 merged with last year, later revealed in a short-seller's report.

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What to Look for in a Quality of Earnings Provider for RIA Transactions

Auto Dealer Valuation Insights

As noted in our most recent M&A update, RIA dealmaking remains fairly robust, with a near-record year in 2023 and a significant uptick in year-over-year total transacted AUM during the first quarter of 2024.

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Storm Clouds Gather Over Delaware's Business Haven Rep

Law 360 M&A

Storm clouds have closed around Delaware's often staid annual corporation law update, with one prominent firm publicly citing this week a perception that Delaware judges have adopted an "increasingly suspicious or negative tone" toward boards, management and the corporate bar, potentially jeopardizing the state's business haven status.

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Paramount-Skydance Merger Talks Heat Up

Benzinga

Paramount Global (NASDAQ: PARA ) and Skydance Media are advancing towards a merger, with discussions to purchase out controlling shareholder Shari Redstone underway, CNBC cites sources. Paramount Global’s special committee and David Ellison’s Skydance Media, supported by private equity firms KKR and RedBird Capital Partners, are honing the valuation of Skydance’s assets for the merger and determining the equity to be added for recapitalization.

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Republic First Bank Fails In Biggest Bust Since 2023 Turmoil

Law 360 M&A

Republic First Bank, a roughly $6 billion bank based in Philadelphia, was shuttered Friday by Pennsylvania state banking regulators and sold to Fulton Bank NA, capping off its prolonged decline in the wake of last spring's regional bank failures.

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Anglo American Rejects BHP's 'Highly Unattractive' Bid, Sets Proposal Deadline For May 22

Benzinga

Anglo American (OTCQX: NGLOY ) rebuffed a $39-billion takeover proposal from BHP Group (NYSE: BHP ), dismissing the offer as "highly unattractive." What Happened : BHP’s bid, announced Thursday, April 25, involved an all-share offer. One of the conditions requires Anglo American to complete two separate demergers of its shareholdings in Anglo American Platinum (Amplats) and Kumba Iron Ore (Kumba).

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