Fri.May 10, 2024

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Fee Variation in Private Equity

Harvard Corporate Governance

Posted by Juliane Begenau (Stanford University), and Emil Siriwardane (Harvard Business School), on Friday, May 10, 2024 Editor's Note: Juliane Begenau is an Associate Professor of Finance at Stanford Graduate School of Business, and Emil Siriwardane is an Associate Professor of Business Administration at Harvard Business School. This post is based on their recent article forthcoming in the Journal of Finance.

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AI for social good: Improving lives and protecting the planet

Mckinsey and Company

As AI advances from predictive to generative capabilities, its potential to address social issues defined by the UN Sustainable Development Goals expands.

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Weekly Roundup: May 3-9, 2024

Harvard Corporate Governance

Posted by the Harvard Law School Forum on Corporate Governance, on Friday, May 10, 2024 Editor's Note: This roundup contains a collection of the posts published on the Forum during the week of May 3-9, 2024 Defenseless companies invite activism Posted by Miles Rogerson, Diligent Market Intelligence, on Friday, May 3, 2024 Tags: Activism , Activists , corporate defense , corporate defense score , Russell 3000 Evolving lines of responsibility between the board and the management Posted by Natalie

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Sam Altman's Oklo Begins Trading: What's Going On With The Stock?

Benzinga

Oklo, Inc. (NYSE: OKLO ) shares are trading lower after the stock began trading on the New York Stock Exchange Friday. Here's a look at what's going on. The Details: Oklo completed its business combination with Sam Altman's AltC Acquisition Corp. Friday and announced its newly appointed board of directors with Sam Altman serving as chairman of the board.

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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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Benchmark International Has Successfully Facilitated the Transaction Between L&D Mail Masters, Inc. And Ironmark

Benchmark Report

The seller, L & D Mail Masters, Inc., is a full-service direct marketing firm incorporated in 1986. They enable their clients to create campaigns that Relate, Captivate, Cultivate, and Resonate with their target audience. L & D Mail Masters, Inc. offers a wide range of solutions for direct marketing needs, from campaign design to implementation and all the services in between.

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Wireless Giants T-Mobile, Verizon Consider $2B US Cellular Deal: Report

Benzinga

The U.S. wireless industry is witnessing a potential shake-up as T-Mobile US Inc (NASDAQ: TMUS ) and Verizon Communications Inc (NYSE: VZ ) engage in talks to divide U.S. Cellular , one of the nation’s remaining major regional carriers. T-Mobile is reportedly nearing a deal worth over $2 billion to acquire a portion of U.S. Cellular, including operational assets and wireless spectrum licenses.

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Comment on Low Value = Material Deficiencies? New FHA ROV Policy by PD

Appraisers Blog

In reply to Mary T Thompson. Yea, “well judge, we would like to submit a reconsideration of guilty” Here are some cases that we believe are relevant and support a verdict of not guilty”… oh, that’s right, that’s an appeal. Difference is the original judge does not need to take time out of his busy day and it can be rejected right out of the gate.

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New tactics for new talent: Closing US semiconductor labor gaps

Mckinsey and Company

America’s impending semiconductor expansion depends on three labor pools that are currently under pressure. Without new action, large talent gaps will likely persist, despite current workforce development.

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EV Startup Says California Settlement Covers Stockholder Suit

Law 360 M&A

Backers of a transaction that took electric vehicle startup Faraday Future Intelligent Electric Inc. public with a $1 billion value in 2021 have asked Delaware's Court of Chancery to block discovery in a stockholder challenge to the deal, citing pending settlement of a similar federal action in California.

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SilverBow’s Shareholder Brawl

Auto Dealer Valuation Insights

It is an election year, and the battle is on. SilverBow Resources, a publicly traded oil and gas company operating in South Texas’ Eagle Ford shale, is wrapped up in a big conflict with some of its own shareholders.

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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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Del. Ruling Highlights M&A Deal Adviser Conflict Disclosures

Law 360 M&A

The Delaware Supreme Court recently reversed the Court of Chancery's dismissal of challenges to Nordic Capital's acquisition of Inovalon, demonstrating the importance of full disclosure of financial adviser conflicts when a going-private merger seeks business judgment rule review, say attorneys at Debevoise.

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One Dealer Is Not Like the Other

Auto Dealer Valuation Insights

In August 2022, we wrote a blog about the Powersports dealer segment of the auto industry, comparing and contrasting it to the franchised dealers that we spend most of our time writing about. This week, we highlight another segment of the auto dealer market: independent dealers. We will continue this series on auto industry segments in the coming weeks.

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Everton Accepts Two-Point Penalty Over Financial Breaches

Law 360 M&A

Everton Football Club said Friday it will not fight the decision by the Premier League Independent Commission to impose a two-point deduction for its violation of the league's rules regarding financial viability, as the team faces a potential sale.

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Internal Transactions Are Still an Option for RIAs

Auto Dealer Valuation Insights

With a constant stream of headlines about M&A and near-daily inquiries from prospective acquirers, it’s easy for RIA owners to get the impression that external transactions are the norm. Indeed, they have become far more common in recent years, and the depth and breadth of external acquirer models is greater than ever.

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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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Altman's Nuclear Fission Biz Fizzles After SPAC Deal Closes

Law 360 M&A

Shares of Oklo Inc., a nuclear-fission startup backed by OpenAI CEO Sam Altman, were down nearly 50% on Friday, the company's first day of trading after completing its merger with Altman's special purpose acquisition company AltC Acquisition Corp.

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SoftBank's Billion-Dollar Bet: Switching From Startups To Semiconductors, AI

Benzinga

SoftBank Group Corp’s (OTC: SFTBF ) (OTC: SFTBY ) founder Masayoshi Son is pivoting from venture capital to investments in semiconductors and artificial intelligence (AI). Since the end of 2021, the firm’s flagship Vision Fund has been divesting or marking down billions of dollars in publicly listed holdings. It has reportedly reduced its U.S.

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Guess? Sued To Stop Founders' Alleged Pending Equity Grab

Law 360 M&A

A pension fund stockholder of Guess? Inc. has sued the company, its founders, and its board in Delaware's Court of Chancery, alleging "a covert attempt to strip the company's public stockholders of their contractual right to equal treatment" in connection with a merger or sale of Guess.

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Navigating Cross-Cultural Challenges in International M&A: Strategies for Success

Sun Acquisitions

In an era of globalization, businesses increasingly seek growth opportunities beyond their borders. International mergers and acquisitions (M&A) have become a famous avenue for expansion, allowing companies to tap into new markets and diversify their operations. However, the success of these endeavors often hinges on the ability to navigate cross-cultural challenges that arise when different corporate cultures collide.

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Key Antitrust Class Certification Questions Remain Unclear

Law 360 M&A

The U.S. Supreme Court, by recently rejecting certiorari in Visa v. National ATM, turned down the opportunity to clarify how to analyze disputed evidence bearing on the certification of antitrust class actions, leaving the applicable standards unclear instead of resolving this split of authority, says Jonathan Berman at Jones Day.

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United Bankshares Expands Into Atlanta With Piedmont Bancorp Acquisition, Eyes $267M Deal

Benzinga

United Bankshares, Inc. (NASDAQ: UBSI ) announced on Friday that it entered into a definitive merger agreement under which United would acquire Piedmont Bancorp. The exchange ratio will be fixed at 0.300 of United’s shares for each share of Piedmont, resulting in an aggregate transaction value of approximately $267 million. The merger will strengthen United’s position in the Mid-Atlantic and Southeast. “The greater Atlanta area is.

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E-Discovery Quarterly: Recent Rulings On Text Message Data

Law 360 M&A

Electronically stored information on cellphones, and in particular text messages, can present unique litigation challenges, and recent court decisions demonstrate that counsel must carefully balance what data should be preserved, collected, reviewed and produced, say attorneys at Sidley.

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Starting a Business Using an SBA Loan

Peak Business Valuation

Calling all entrepreneurs – first-timers, amateurs, and battle-hardened veterans! This article is for anyone starting a business but who lacks the capital or collateral to bring this dream to fruition. Your taco truck or eCommerce business does not have to just live on a napkin or in your head. It can become a reality! Peak Business Valuation is here to help you in the process of starting a business !

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Digital Platform Xtribe To Go Public Via $141M SPAC Merger

Law 360 M&A

Technology-driven marketplace company Xtribe PLC, advised by Cozen O'Connor PC, has announced plans to go public via a merger with Haynes and Boone LLP-led special-purpose acquisition company WinVest Acquisition Corp. in a deal that values Xtribe at an implied equity value of $141 million.

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How an Employee Stole $26,506 Using a POS Register System

Gross Mendelsohn

This is the story of a chief financial officer whose diligent review of his sporting goods retailer’s monthly operations resulted in the discovery of employee theft.

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Ex-Pillsbury Communications Leader Joins Dickinson Wright

Law 360 M&A

Dickinson Wright PLLC announced that a longtime Pillsbury Winthrop Shaw Pittman LLP attorney who previously served as chair of the firm's communications practice has joined its Washington, D.C., office as a member.

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How two telcos in Indonesia are bringing inclusivity to 17,500 islands

Mckinsey and Company

Digital technologies can be used to create significant opportunities for economic and social growth in Indonesia—two telco leaders say how.

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UK Opens Probe Into Thermo Fisher's $3.1B Olink Buy

Law 360 M&A

Britain's competition watchdog said it is opening an inquiry into Thermo Fisher's $3.1 billion bid to buy Swedish biotech firm Olink Holding AB over competition concerns, according to an official notice issued Friday.

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Comment on Low Value = Material Deficiencies? New FHA ROV Policy by Cathy Harper

Appraisers Blog

The implication is if the VALUE is too low, then there must be “material deficiencies” present. This implication here is deeply troubling!

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Apollo-Backed Co. Bids €392M For Climate Control Firm

Law 360 M&A

European climate control specialist Purmo said on Friday its board intends to recommend its purchase by a special purpose vehicle indirectly owned by U.S. private equity giant Apollo Global Management and Rettig, a Finnish investment company, for approximately €392 million ($422 million or £337.5 million).

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Antitrust: FTC Votes Proposed Exxon Director Off the Island

John Jenkins

Earlier this week, the FTC entered into a consent decree with ExxonMobil allowing the company’s proposed acquisition of Pioneer Natural Resources to move forward. However, the FTC’s order included a novel term prohibiting ExxonMobil from honoring a commitment to appoint Pioneer’s founder and former CEO to its board.

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2 Firms Guide United Bankshares On $267M Piedmont Buy

Law 360 M&A

Bowles Rice LLP and Sullivan & Cromwell LLP are representing United Bankshares Inc. on a $267 million agreement to buy Georgia-based Piedmont Bancorp Inc., which the lenders disclosed Friday and said marks United's 34th acquisition.

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Anglo American’s South African investors open to revised BHP offer

The Guardian M&A

But such a takeover of London-listed mining firm opposed by politicians and unions in South Africa South African shareholders of the mining company Anglo American have signalled they are open to a revised takeover offer from BHP, despite warnings from South African politicians and unions that a deal could be bad for the country. Investors, which collectively own more than 15% of the London-listed mining company, told the Financial Times that they were not opposed in principle to an acquisition b

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Sanofi, Novavax Sign $1.2B Deal For One-Shot COVID, Flu Jab

Law 360 M&A

Sanofi and U.S. vaccine developer Novavax Inc., said on Friday that the French pharmaceutical company has bought a co-exclusive licensing agreement worth up to $1.2 billion, as part of a collaboration to create a combined global COVID-19 and influenza shot.

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Calian® Completes Acquisition of Mabway, Expanding Military Training and Simulation Solutions Globally

Benzinga

OTTAWA, May 10, 2024 (GLOBE NEWSWIRE) -- Calian Group Ltd. (TSX: CGY ), a diverse products and services company, providing innovative healthcare, communications, learning and cybersecurity solutions, has agreed to acquire U.K.-based Mabway for up to CAD$41M (GBP£24M). This includes CAD$32.4M (GBP£19M) on closing. Mabway is a leader in the management of large-scale defence role-playing environments that simulate real-world operational environments and provides technical engineering education for

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