Mon.Oct 16, 2023

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2024 U.S. Proxy Season: Proxy Voting, Governance, and ES Matters

Harvard Corporate Governance

Posted by Laura D. Richman, Mayer Brown LLP, on Monday, October 16, 2023 Editor's Note: Laura D. Richman is a Counsel at Mayer Brown LLP. This post is based on a Mayer Brown memorandum by Ms. Richman, Jennifer J. Carlson , Lawrence A. Cunningham , Anna T. Pinedo , and David A. Schuette. Proxy Voting Matters SHAREHOLDER PROPOSALS Shareholder Proposals in the 2023 Proxy Season.

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Rite Aid Files for Bankruptcy, Facing Slumping Sales and Opioid Suits

NYT M&A

The pharmacy chain, one of the country’s largest, faces more than a thousand lawsuits that say it filled illegal prescriptions for painkillers.

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Author Talks: Am I making myself clear?

Mckinsey and Company

Feeling misunderstood? A BBC journalist shares the communication blunders that keep you from getting your point across and what you can do to avoid them.

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Why Recently-Listed Real Estate Holding Company La Rosa's Shares Are Surging Today

Benzinga

La Rosa Holdings Corp (NASDAQ: LRHC ), a holding company for five agent-centric multi-service real estate companies, announced the acquisition of a controlling interest in La Rosa Realty Lake Nona, Inc., one of its franchisees based in Orlando, Florida. Lake Nona, boasting over $9.8 million in revenue and a positive net income last year, stands as a pivotal player in both the.

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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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Leveraging generative AI in Europe: The opportunities and challenges

Mckinsey and Company

What makes Europe different when it comes to harnessing the opportunities of gen AI? Our leaders share their perspectives.

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Comment on Fannie’s Loan Buyback Sophistry Relies on Modifying Analysts’ Behavior by Charles Minzenberger, SRA

Appraisers Blog

This is very scary, its almost certain every appraiser that does lending work will get a letter asking them to defend a file, even the most seasoned appraiser would be rattled. But to say actual people are reading these files with actual complaints is BS simply based on the nebulous questions … “Do the comparable sale selections make sense?

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Vodafone-Three merger could add up to £300 a year to mobile bills, says union

The Guardian M&A

Tie-up is a ‘terrible deal for Britain’ that also poses risks for national security, Unite claims Mobile phone bills could rise by as much as £300 a year as a result of the merger of the UK operations of Vodafone and the owner of Three , a trade union has said. Unite has been a vocal critic of the proposed deal , which would create the UK’s largest mobile operator, and said that it is a “terrible” deal that also poses risks for national security.

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Generative AI will change the social contract in Europe

Mckinsey and Company

Alex Sukharevsky, a senior partner and the global leader of QuantumBlack, AI by McKinsey, talks about the importance of generative AI incorporating local culture and local contact, and how generative AI could help solve complex social problems in Europe.

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Where the private credit boom could go bust

Financial Times M&A

Plus, Ratcliffe’s lone bid for Manchester United and the Barclays try and fail to stop the Telegraph Media Group auction

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Change management will be critical to implementing generative AI

Mckinsey and Company

Louise Herring, a partner based in London who co-leads McKinsey’s Analytics Academy in Europe, outlines why the extent to which companies can generate impact from generative AI could depend on their ability to manage change effectively.

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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 Fannie’s Loan Buyback Sophistry Relies on Modifying Analysts’ Behavior by Dave

Appraisers Blog

“Fannie’s analysts complain they are now pushed to validate the automated system’s findings, s (said the insider)” – AVM’S HELLO Lyle Radke! The integrity of their entire system depends upon binary quality and condition codes. Binary = either or. As we travel into the land of more risk – high loan to value ratios and lessoning of borrower requirements) Fannie’s pitiful collateral underwriting poor algorithms will lead to chaos.

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How And Why Your Firm Should Implement Fixed-Fee Billing

Law 360 M&A

Amid rising burnout in the legal industry and client efforts to curtail spending, pivoting to a fixed-fee billing model may improve client-attorney relationships and offer lawyers financial, logistical and stress relief — while still maintaining profit margins, say Kevin Henderson and Eric Pacifici at SMB Law Group.

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IT services group Atos appoints Mustier as chair

Financial Times M&A

Appointment of former UniCredit boss at indebted French tech company casts doubt over restructuring plans

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Fund Managers Taking US Telecom Co. Private In $3.1B Deal

Law 360 M&A

Consolidated Communications Holdings Inc. said Monday it is being sold to Searchlight Capital Partners LP and the British Columbia Investment Management Corp. in an all-cash, take-private deal that values the Illinois-based telecommunications company at roughly $3.1 billion.

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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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US oil and gas finds warmer welcome in capital markets

Financial Times M&A

IPOs and bond issuance revive after recent run-up in commodity prices

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Comment on Fannie’s Loan Buyback Sophistry Relies on Modifying Analysts’ Behavior by Eric Kretz

Appraisers Blog

“The stepped-up repurchase demands are based on analysts at Fannie Mae trying to hit their numbers.” That is the most ironic statement ever.

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Leading through disruption requires ‘the gene for change’

Mckinsey and Company

Bose CEO Lila Snyder discusses the skills CEOs and their teams need to adapt to change and embrace transformation.

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General Catalyst in German VC tie-up as part of European tech push

Financial Times M&A

Silicon Valley firm to merge with Berlin-based La Famiglia for regional start-up expertise

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Cannabis Company Doubles Down On Ohio, Acquires Two Shops In Major Deal As Legalization Vote Looms

Benzinga

Vext Science, Inc. (CSE: VEXT) (OTCQX: VEXTF ) said on Monday that it has reached an agreement pending a regulatory review period on an asset purchase agreement, together with other definitive agreements with Big Perm's Dispensary Ohio, LLC and members thereof, to acquire two cannabis dispensaries in Ohio. What Happened Under the terms of the definitive agreements, previously announced earlier this month, Vext agreed to pay $9.4 million in cash in return.

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Dissolution Defined: The First Department’s Recent Guidance on Interpreting Operating Agreements

Farrel Fritz

The owners’ agreement is the backbone of the closely-held business. In intracompany LLC disputes, few things are more important than what the operating agreement has to say on the subject. As a consequence, the pages of this blog are packed with cases pitting clashing interpretations of an operating agreement against each other ( see this post , and this one , for starters).

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Why Is Alzheimer's Player Prothena Stock Trading Higher Today?

Benzinga

Prothena Corporation plc (NASDAQ: PRTA ) is reportedly talking to advisors, potentially preparing for a sale. The closely watched Alzheimer's player is due to report key data expected in the coming months. Prothena's wholly owned programs include birtamimab for AL amyloidosis and a portfolio of programs for the potential treatment of Alzheimer's disease, including PRX012 that targets Aβ (amyloid beta) and PRX123, the company's dual Aβ-tau.

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7 Critical Success Factors (CSFs) of an Acquisition

M&A Leadership Council

Finding the Greatest Opportunities for Creating Value in a Business Combination By Jack Prouty, Past President, M&A Leadership Council Simply merging two companies does not necessarily lead to the creation of a third company of greater value. So, where can we find the greatest opportunities for creating value in a combination? Companies might want to think about creating a new, better customer value proposition; improved leveraging of human, technology and IP assets; and exploiting the j

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EU to tighten rules for airline mergers

Financial Times M&A

New antitrust commissioner will seek tougher concessions on airport take-off and landing slots

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Comment on Fannie’s Loan Buyback Sophistry Relies on Modifying Analysts’ Behavior by Jeanie

Appraisers Blog

The system now awards analysts more points if they are able to find overvaluations leading to lender repurchase demands.

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Europe’s regulatory environment can accelerate adoption of generative AI

Mckinsey and Company

Yetunde Dada, Senior Director of Product Development, explains how regulation can provide a clear framework and address some of the key reasons why some organizations are cautious about adopting generative AI.

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Information Needed for an Equipment Appraisal

Peak Business Valuation

In the intricate world of equipment appraisals , precision reigns supreme. An excellent equipment appraisal comes down to two things; the accuracy of the information you provide and the experience of the valuation company you choose. Not sure who to trust for a machinery and equipment appraisal? Dive into this quick read to discover important information needed for an equipment appraisal.

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Generative AI’s Impact across the operations value chain

Mckinsey and Company

Marie El Hoyek, an associate partner based in London, shares her insights working with large industrials companies in Europe. Marie explains how generative AI can lead to innovation across the entire operations value chain.

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Successful Audit Analytics Adoption: Overcoming the Budget Barrier Challenge

Audit Board

Advanced analytics — the autonomous or semi-autonomous examination of data or content using sophisticated techniques and tools — have a proven host of benefits when leveraged effectively by auditors. The successful deployment of audit analytics can lead to more accurate testing, automation of audit workflow processes, and overall improved audit efficiency.

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Why Manchester United Shares Are Plunging Today

Benzinga

Manchester United Plc (NYSE: MANU ) shares fell nearly 10% during premarket trading on Monday as investors digested the news of the Qatari group's decision to reportedly pull away from acquiring the football giant. The acquisition process was plagued by a series of hiccups with bidders unable to meet the whopping £6 billion ($7.3 billion) valuation set by the Glazer.

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Why So Many ERM Programs Miss the Operational Mark: Overcoming Operational Risk Management Obstacles

Audit Board

Modern ERM teams are tasked with identifying and reporting on the top risks that might prevent their organization from achieving its business objectives. Yet, there is growing evidence that these ERM programs are not doing enough to protect their businesses from operational risk events linked to their unique risk profiles. The banking failures in the first quarter of 2023 demonstrated the lack of continuous communication and risk mitigation for what many outsiders saw as clear risks that should

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Albemarle Backs Out Of Acquisition Offer For Australia's Liontown Resources

Benzinga

Mining giant Albemarle Corporation (NYSE: ALB ) said it will not pursue a binding agreement to purchase Liontown Resources Ltd. (OTC: LINRF ) and has withdrawn its non-binding offer to Liontown's Board of Directors. Liontown Resources is a battery minerals producer based in Australia and owns one of the world's richest lithium deposits, essential for manufacturing electric vehicles and smartphones.

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Are You an Expert at What You Do?

Exit Strategy

So what an expert and, more importantly, are you one? The term “expert” has many definitions. For anyone who has written a wedding toast or sat through a valedictorian’s speech you know how the next sentence starts…Webster defines an Expert as “one with a special skill or knowledge representing mastery of a particular subject.” If […] The post Are You an Expert at What You Do?

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Why Vista Outdoor Shares Are Tumbling Today

Benzinga

Vista Outdoor Inc (NYSE: VSTO ) shares are trading lower by around 20% after the company announced asset sales and lowered its FY24 outlook. The company inked a definitive deal to sell its Sporting Products business to Czechoslovak Group a.s. (CSG) for $1.91 billion in an all-cash transaction, subject to customary closing conditions. The transaction cost implies 5x enterprise value to Sporting Products FY24 EBITDA, including estimated standalone costs.

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Clifford Chance Adds Kirkland, Simpson Thacher Energy Pros

Law 360 M&A

Clifford Chance has boosted its energy and infrastructure team with the addition of attorneys from Kirkland & Ellis LLP and Simpson Thacher & Bartlett LLP to its burgeoning Houston office, the firm announced Monday.

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