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Rolling Back Dodd-Frank: Investors’ and Banks’ Responses to Financial Market Deregulation

Reynolds Holding

Dodd-Frank created a new financial regulatory landscape with intensified federal oversight and an extensive set of regulations on banks, such as stress tests and stricter capital, trading, loan, and mortgage underwriting standards (Acharya and Richardson, 2012; Richardson et al., Using event study methods, we find a mean increase of 1.41

Banking 59
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How to Avoid Chapter 22 in Restructuring Work for Energy Companies

Value Scope

Ultra Petroleum filed for bankruptcy back in May of 2016, so this is its second filing in four years. The cash flows we isolate are tested for their ability to support debt, the new capital structure of the restructured firm. Note that Ultra Petroleum is listed. Conclusion.

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Triton International to be Acquired by Brookfield Infrastructure in a $13.3 Billion Take-Private Transaction

Benzinga

For our long-term shareholders, this transaction crystalizes a total shareholder return of approximately 700% since the 2016 merger of Triton and TAL International. "The sale price provides significant value to our investors and represents a 35% premium to yesterday's closing share price.

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New Pubcos Should Consider Defensive Health in Light of ISS/GL Recommendations

Cooley M&A

See our December 2016 client alert. So far in the 2017 proxy season, ISS is almost universally recommending against all director elections at companies with a supermajority vote requirement to amend the company’s bylaws or charter, a classified board structure or a multi-class capital structure. in 2015 to 7.2%

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The (Geo)Politics of Controlling Shareholders

Reynolds Holding

sanctions against Oleg Deripaska in 2016 were lifted when he gave up control over major aluminum producer Rusal, despite the fact that he retained a significant stake in En+, Rusal’s controlling shareholder. For example, U.S. 4] This influence carries significant implications for domestic political systems and institutional development.

Comps 59
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Moonshots

Reynolds Holding

The most innovative part of the economy, the venture capital (VC) market, has evolved structures to address these agency problems. A startup’s capital structure solves the motivation problem. General Motors (GM) acquired it in 2016. Then in 2018, GM decided to experiment with a new structure.

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DEBRA, next big tax reform in Europe?

Simply Treasury

The taxpayer will have to determine the deductibility of its net financial expenses based on the ATAD1 rules in force ( ATAD1 Directive n°2016/116435 ): - If the non-deductible amount is greater than 15% of the net financial expenses, then the non-deductible excess over 15% must be carried forward or backward in accordance with the ATAD1 rules. -

Equity 52