Fri.Mar 29, 2024

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Legal Risk and Insider Trading

Harvard Corporate Governance

Posted by Marcin Kacperczyk (Imperial College London) and Emiliano S. Pagnotta (Singapore Management University), on Friday, March 29, 2024 Editor's Note: Marcin Kacperczyk is Professor of Finance at Imperial College London, and Emiliano S. Pagnotta is an Associate Professor of Finance at Singapore Management University. This post is based on their article published in the Journal of Finance.

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Generative AI: The next S-curve for the semiconductor industry?

Mckinsey and Company

The surge of interest in and use of generative AI translates to higher demand for semiconductors, pushing the industry to innovate faster and produce more capable and efficient chips.

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Weekly Roundup: March 22-28, 2024

Harvard Corporate Governance

Posted by the Harvard Law School Forum on Corporate Governance, on Friday, March 29, 2024 Editor's Note: This roundup contains a collection of the posts published on the Forum during the week of March 22-28, 2024 Disentangling the value of ESG scores and classification of sustainable investment products Posted by Andrew Siwo, New York University and Cornell University, on Friday, March 22, 2024 Tags: ESG , esg rating , Impact investing , socially responsible investing , sustainable investing Rem

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Economic conditions outlook, March 2024

Mckinsey and Company

Survey responses show increased confidence in the economy—globally and at home. Geopolitical concerns persist, and respondents increasingly view political transitions and policy changes as pressing risks.

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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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Trout CPA Professionals Presents at the ESOP Association Conference

Trout CPA

Valuation Services Partner W. Michael Wolfe, CPA/ABV, CVA , and Senior Manager Sean Post, CPA, CFE , had the privilege of addressing attendees at the ESOP Association Pennsylvania/Delaware Chapter Spring Conference on March 20, 2024. The ESOP Association stands as the preeminent advocate and educational resource for employee stock ownership plans (ESOPs) across the United States.

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Rethinking organizational health for the new world of work

Mckinsey and Company

Yes, organizational health still drives long-term performance—but the way leaders measure and diagnose health should change, new research shows.

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Pali Bhat on building intelligent products

Mckinsey and Company

Reddit chief product officer Pali Bhat shares his approach to creating innovative products—and how machine learning and artificial intelligence will change that approach.

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Inside the battle for ‘trophy asset’ the Telegraph – and for the soul of Tory Britain

The Guardian M&A

Traditional affinity between Conservatives and the newspaper has given way to a complex, splintered drama, and the attempted acquisition by Gulf-backed RedBird IMI lies in limbo With the Conservative party trailing Labour by nearly 20 points in the polls, it needs all the help it can get if it is going to have a fighting chance at the next election.

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Author Talks: Charles Duhigg on how the best communicators ‘click’

Mckinsey and Company

How can you make your conversations count? A Pulitzer Prize-winning writer reveals what “supercommunicators” do differently.

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Safeguarding Your Investment: Due Diligence Steps for Buyers in Seller Financing Deals in Mergers and Acquisitions

Sun Acquisitions

In the world of mergers and acquisitions (M&A), seller financing deals can offer numerous benefits to buyers. They provide a unique opportunity to secure funding from the seller, which can help bridge financial gaps and facilitate the purchase of a business. However, while these deals can be advantageous, they also come with risks. To safeguard your investment in seller financing M&A transactions, it’s crucial to conduct thorough due diligence.

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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 At Federal Agency, The Mayhem Is the Message by Honest Appraiser

Appraisers Blog

The King Cobra strikes again !! Thanks for your wok Jeremy – and others. Maybe one of these days somebody in a position of power will realize how badly the Independent Fee Appriaser has been kicked under the bus while AMC’s are pocketing $Millions without disclosure. Truth in Lending ?? I think not.

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Grant Thornton’s retired partners demand bigger payout from private equity sale

Financial Times M&A

Accounting firm recently agreed to sell a majority stake to New Mountain Capital

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Comment on At Federal Agency, The Mayhem Is the Message by Baggins

Appraisers Blog

In reply to Honest Appraiser. Yeah. Several theories on this point. I’ll post a short essay after a while after others have had a fair chance to comment. Mr Bagotts articles are a real game changer. Top notch journalism. Thank you.

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Alleged 'Shadow Trader's Co-Worker Tells Jury Stocks Not Tied

Law 360 M&A

A co-worker of an ex-Medivation executive accused of "shadow trading" in rival Incyte's stock testified Friday as the first defense witness in his California federal civil trial, telling jurors that the two companies weren't competitors and that he wouldn't expect their stock prices to rise in tandem.

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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 At Federal Agency, The Mayhem Is the Message by Mike Ford, AGA™

Appraisers Blog

I have some familiarity with Ken’s case. He has or has had an E&O attorney representing and advising him. I dont typically comment on members cases, but bringing this into the public eye was his decision. AGA cannot get between a Member, and their attorney. We did not do so in this instance. WE are not attorneys and do not offer legal advice.

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Dem Cites 'Secret' Report Against Ticketmaster 'Rebates'

Law 360 M&A

A major Congressional critic of Live Nation and Ticketmaster highlighted an expert report from a long-running lawsuit as further proof of the ticketing juggernauts' "rampant, corrupt and abusive practices," although assertions that the report was secret and only newly unearthed may be overblown.

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Comment on At Federal Agency, The Mayhem Is the Message by Eric Kennedy

Appraisers Blog

Updates on the Lanham case – from Mr. Lanham gofundme page ” Hello everyone. If you haven’t heard, or read, my co-defendant, LoanDepot, has decided to settle their case out of court. I want everyone to know that this does not affect my position as I still intend to take my cases, both defense of the accusations against me and prosecution of the defamation suit, to trial.

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Innoviz's $1.4B SPAC Deal 'Abysmal,' Investor Tells Chancery

Law 360 M&A

A former stockholder of the special purpose acquisition company that took autonomous vehicle software provider Innoviz public has sued the architects behind the $1.4 billion merger in Delaware's Court of Chancery, accusing them of unjust enrichment and breaches of fiduciary duty and calling the transaction "abysmal" for investors.

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Mercer’s Musings #5: Pre-IPO Studies/Discounts and Marketability Discounts

Chris Mercer

Introduction and Conclusion My musings on the use of restricted stock discounts to estimate marketability discounts (or DLOMs) have led me to the conclusion: Restricted stock studies/discounts cannot be used to estimate DLOMs in any credible, standards-compliant manner. Three of the first four Mercer’s Musings posts address this issue. Mercer’s Musings #1: USPAP and the Internal Revenue Service Mercer’s Musings #2: Using Restricted Stock Studies to Support Marketability Discounts Mercer’s

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THL's $2.5B Deal To Buy Agiliti Sparks Chancery Suit

Law 360 M&A

A shareholder of Agiliti, a medical equipment and services provider on the cusp of being acquired and taken private by Thomas H. Lee Partners LP, has sued the healthcare company in Delaware's Court of Chancery, seeking more information about the controlling private equity stockholder's $2.5 billion buyout bid.

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Public Auto Dealer Profiles: Group 1 Automotive

Auto Dealer Valuation Insights

As discussed in previous installments of this series, six primary publicly traded auto dealers own 1,342 new vehicle franchised dealerships as of year-end 2023. The most recent number of dealerships, 16,839, as reported by NADA, means the publics own only about 8% of the total number of dealerships in the U.S. The proportion of total U.S.

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Blue Yonder Buying One Network For $839M

Law 360 M&A

Panasonic-owned supply chain management company Blue Yonder said Friday it has agreed to acquire digital supply chain network supplier One Network Enterprises for approximately $839 million.

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Revenue Share Transactions: Considerations for RIAs

Auto Dealer Valuation Insights

Minority interest transactions represent a way for RIA owners to monetize a portion of their firm without committing to the lifestyle changes often accompanying a sale to a control investor. A minority transaction can solve issues relating to succession, growth capital, and liquidity and can do so in a way that leaves the door open for a larger transaction later.

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US Steel-Nippon Merger Gets Thumbs Up From ISS, Glass Lewis

Law 360 M&A

U.S. Steel said Friday that proxy advisory firms Glass Lewis & Co. and Institutional Shareholder Services have recommended that U.S. Steel shareholders vote in favor of its planned $14.9 billion sale to Nippon Steel Corp.

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The Benefits of a Quality of Earnings Analysis for E&P Companies

Auto Dealer Valuation Insights

As we’ve often highlighted on this blog, transaction activity in the O&G sector has waned in recent years. Rather than utilizing free cash flows to support expansions via acquisitions, companies have emphasized capital discipline, favoring dividend payouts and buybacks.

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Apollo Buying Majority Stake In Panasonic Auto At $2B Value

Law 360 M&A

Paul Weiss-led Apollo Global Management said Friday it has agreed to buy a majority stake in Panasonic Automotive Systems Corp. from Japan's Panasonic Holdings Corp., in a transaction with a total enterprise value of 311 billion yen ($2.06 billion).

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Mercer Capital Announces Promotions of Three to Senior Vice President

Auto Dealer Valuation Insights

Mercer Capital is pleased to announce the promotion of Brooks Hamner, CFA, ASA, Karolina Calhoun, CPA, ABV, CFF, and Sujan Rajbhandary, CFA, ABV to Senior Vice President. These promotions recognize their long-standing commitment and valuable contributions to the firm and its clients.

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AERKOMM and Nasdaq-Listed IX Acquisition Corp. Announce Merger Agreement and US $35 Million Private Placement

Benzinga

SILICON VALLEY, Calif., March 29, 2024 (GLOBE NEWSWIRE) -- AERKOMM Inc. ((Euronext: AKOM, OTCQX: AKOM , "AERKOMM")), an innovative satellite technology company providing multi-orbit broadband connectivity solutions, and IX Acquisition Corp (NASDAQ: IXAQU , "IXAQ")), a SPAC focused on the technology, media and telecommunications industries, have entered into a definitive Business Combination Agreement ("BCA") and raised US $35 million in a private placement.

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Don't Miss It: Davis Polk, Simpson Lead Month's Hot Deals

Law 360 M&A

A lot can happen in the world of mergers and acquisitions over the course of a month, and it's difficult to keep up with all the deals. Here, Law360 recaps the ones you may have missed, including transactions managed by Davis Polk & Wardwell LLP and Simpson Thacher & Bartlett LLP.

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7th National Summit in association with ASSOCHAM

RNC

We are elated to share moments from the wonderful event organized in association with ASSOCHAM on “ Insolvency & Bankruptcy Code: Expectation Pre & Post Resolution “ Mr. Sahil Narula, Managing Partner – RNC , joined the discussion on shaping the future of Insolvency Resolution in India alongside other esteemed Panelist. The event turned out to be a hub of knowledge exchange and forward-thinking discussions!

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Freightliner Trucking Appraisals

Peak Business Valuation

In the fast-paced world of transportation, every mile matters. Renowned for their performance, freightliner trucks stand as stalwarts in the industry. As industry dynamics evolve, the value of these assets becomes increasingly complex to determine. This is where accurate trucking appraisals play a crucial role. A comprehensive valuation provides insights into the true worth of freightliner trucks.

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Comment on LoanDepot Appraisal Discrimination Settlement by Spencer Paul

Appraisers Blog

This is one of the appraisal discrimination cases that has received significant attention among appraisers, the media & government agencies.

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Proposed 2024 DGCL Amendments: “Chancery Court Cleanup in Aisle 3!”

John Jenkins

The Chancery Court’s recent decisions in Crispo, Moelis, and Activision Blizzard have caused a lot of angst in the M&A community. Yesterday, the Delaware Bar took steps to calm the storm by recommending proposed amendments to the DGCL designed to address the uncertainty created by these decisions.

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Comment on LoanDepot Appraisal Discrimination Settlement by Will

Appraisers Blog

This is one of the appraisal discrimination cases that has received significant attention among appraisers, the media & government agencies.