Harvard Corporate Governance

MAY 27, 2023

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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Viking Mergers

JUNE 2, 2023

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.

Finance 130

Finance Business Valuation Marketability 130

Mckinsey and Company

JUNE 2, 2023

A new McKinsey report reveals how organizations are faring in a post-COVID-19 world. Here, two of its coauthors offer suggestions for managing through the uncertainty.

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Financial Times M&A

JUNE 2, 2023

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

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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.

Marketability

Harvard Corporate Governance

MAY 29, 2023

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

Marketability 264

Marketability 264

Viking Mergers

JUNE 1, 2023

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.

Fair Market Value 130

Fair Market Value Appraisal Intangible Assets Marketability 130

Benchmark Report

JUNE 2, 2023

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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Harvard Corporate Governance

JUNE 1, 2023

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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Law 360 M&A

JUNE 2, 2023

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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Mckinsey and Company

JUNE 1, 2023

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

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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

Corporate Finance

Business Wire M&A

MAY 30, 2023

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.

Marketability 98

Marketability 98

Harvard Corporate Governance

MAY 30, 2023

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.

Finance 237

Finance 237

Law 360 M&A

JUNE 1, 2023

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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Mckinsey and Company

JUNE 2, 2023

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.

Marketability 107

Marketability 107

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.

Marketability

Business Wire M&A

JUNE 1, 2023

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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Harvard Corporate Governance

JUNE 1, 2023

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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ThomsonReuters

JUNE 1, 2023

IRS Notice 2023-43 (May 25, 2023) Available at [link] The IRS has issued Notice 2023-43, providing interim guidance on the expanded self-correction program under the Employee Plans Compliance Resolution System (EPCRS). As background, the SECURE 2.0 Act made sweeping changes to self-correction under EPCRS (see our Checkpoint article ). While the changes technically took effect December 29, 2022, the extent to which the SECURE 2.0 Act changes plans’ current self-correction options is uncertain b

Compliance 97

Compliance 97

Mckinsey and Company

MAY 31, 2023

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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Business Wire M&A

JUNE 1, 2023

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.

Equity 98

Equity 98

Harvard Corporate Governance

MAY 28, 2023

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.

Equity 220

Equity Compliance 220

Rhythm Systems

MAY 31, 2023

We all have A-Players we do not want to lose. At the 1995 Worldwide Developers Conference, Steve Jobs shared a realization about his own top performers: “Most things in life have a dynamic range in which average to best is at most 2:1.the difference between an average software developer and the best is 50:1.” Think about the dynamic range of performance in your industry or business.

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Mckinsey and Company

JUNE 2, 2023

As founder and CEO of PT Rimba Makmur Utama, Dharsono Hartono was early to carbon financing. He says building trust, social capital, and community buy-in are critical for success.

Finance 101

Finance 101

Redpath

JUNE 1, 2023

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.

Technology 92

Technology 92

Harvard Corporate Governance

JUNE 2, 2023

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

Equity 217

Equity 217

Machen McChesney

JUNE 2, 2023

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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Mckinsey and Company

MAY 30, 2023

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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Financial Times M&A

MAY 28, 2023

Japan is only theoretically fertile territory for stock market takeovers, as the Toyota thought experiment reveals

Marketability 98

Marketability 98

Harvard Corporate Governance

MAY 29, 2023

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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Cooley M&A

JUNE 1, 2023

Over the past year, the U.S. Department of Justice has garnered headlines by issuing press releases announcing that directors have stepped down from 10 company boards, in response to DOJ concerns that their roles violated the Clayton Act’s Section 8 prohibitions on interlocking directorates.In October 2022, the DOJ announced the resignation of directors from the boards of five companies.

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Mckinsey and Company

MAY 31, 2023

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

Technology 103

Technology 103

Financial Times M&A

MAY 29, 2023

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

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Harvard Corporate Governance

JUNE 2, 2023

Posted by Olivia Knight, As You Sow, on Friday, June 2, 2023 Editor's Note: Olivia Knight leads As You Sow’s Racial Justice Initiative. 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?

Equity 177

Equity 177

Avanade

MAY 31, 2023

Avanade CTO Florin Rotar shares his top 3 takeaways from Microsoft Build and why they matter for enterprises like yours.

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89

Mckinsey and Company

JUNE 1, 2023

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

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