Mon.May 09, 2022

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Performance Bounced Backā€”CEO Pay Up

Harvard Corporate Governance

Posted by Joanna Czyzewski and Lauren Peek, Compensation Advisory Partners, on Monday, May 9, 2022 Editor's Note: Joanna Czyzewski and Lauren Peek are principals at Compensation Advisory Partners. This post is based on a CAP memorandum by Ms. Czyzewski, Ms. Peek, Jared Sorhaindo, and Kristine Stanners. Related research from the Program on Corporate Governance includes The Perils and Questionable Promise of ESG-Based Compensation by Lucian A.

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What is an Exit Strategy? 7 Options for Business Owners

Viking Mergers

No matter your business goals, planning and preparing your exit strategy is essential. There are a variety of business exit strategy options, and the best option for you may not be the same as another person or business. In this article, we will discuss what an exit strategy is and some of the options available to you as a business owner. What is an Exit Strategy?

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Does Enlightened Shareholder Value Add Value?

Harvard Corporate Governance

Posted by Lucian Bebchuk (Harvard Law School), Kobi Kastiel (Tel Aviv University), and Roberto Tallarita (Harvard Law School), on Monday, May 9, 2022 Editor's Note: Lucian Bebchuk is the James Barr Ames Professor of Law, Economics, and Finance and Director of the Program on Corporate Governance at Harvard Law School; Kobi Kastiel is Associate Professor of Law at Tel Aviv University, and Senior Fellow of the Harvard Law School Program on Corporate Governance; and Roberto Tallarita is a Lecturer o

Finance 274
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Delivering on the promise of federal infrastructure funds in states

Mckinsey and Company

Thanks to the combined impacts of the Bipartisan Infrastructure Law and pandemic-related recovery bills, states and localities could have a meaningful effect on lives and livelihoods.

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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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RealNetworks Founder/CEO Robert Glaser Seeks To Buy Up All Outstanding Shares

Benzinga

RealNetworks Inc (NASDAQ: RNWK ), a Seattle-based provider of artificial intelligence-based software and solutions, announced it received an unsolicited, non-binding proposal from Robert Glaser , the company’s founder, chairman and CEO, to acquire all of the outstanding shares of common stock not currently owned by Glaser and his affiliates at a purchase price of 67 cents per share in cash.

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What Are SPACs?

Benchmark Report

A SPAC (Special Purpose Acquisition Company) is a company with no business operations that is formed solely to raise capital through an IPO to purchase another existing company. It does not produce any product or service, and it does not sell anything. Although SPACs have exploded in popularity in the past few years, they have been around since the early 1990s.

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Judge, Jury and Executioner: Fifth Circuit Slams Courthouse Door on Antitrust Plaintiff Denied SEP Licenses Subject to FRAND Commitments

Mogin Rubin M&A

The U.S. Court of Appeals for the Fifth Circuit recently slammed the courthouse door on the plaintiff in Continental Automotive Systems v. Avanci, LLC (5th Cir., Feb. 28, 2022), a manufacturer of telematic control units (ā€œTCUsā€) that provide cellular communications to automobiles. The court held that Continental lacked Article III standing to sue patentees, Nokia, Conversant, Optis, Sharp, and their licensing agent, Avanci, for monopolization for refusing to license standard-essential patents (ā€œ

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Here's Why ServiceSource Shares Are Soaring Today

Benzinga

Concentrix Corporation (NASDAQ: CNXC ) agreed to acquire customer journey experience company ServiceSource International, Inc (NASDAQ: SREV ) in an all-cash transaction of $1.50 per share. The purchase price represents a 47% premium to ServiceSource's unaffected closing stock. Full story available on Benzinga.com.

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Morrisons wins race to buy McCollā€™s ahead of Asda owners

The Guardian M&A

All 16,000 staff of struggling convenience store chain will be transferred to the supermarkets group Morrisons has beaten the owners of Asda in the race to buy McCollā€™s after the struggling convenience store chain fell into administration. Morrisonsā€™ final offer for McCollā€™s was selected ahead of an improved bid made over the weekend by EG Group, the petrol forecourts operator owned by the Blackburn-based Issa Brothers , who also own Asda.

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Trees Secures Funding For Acquisition Of Camp Cannabis Retail Stores In Ontario, Closes Private Placement Of Shares

Benzinga

Trees Corporation (NEO: TREE) has closed a non-brokered private placement of its 34.17 million at $0.03 per unit for gross proceeds of approximately $1.03 million. Under the private placement, each unit is comprised of one common share and one-half of one common share purchase warrant of the company. Each warrant entitles the holder thereof to purchase one common share at $0.05 per common share for a period of.

Finance 97
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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 canā€™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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Global Economics Intelligence executive summary, April 2022

Mckinsey and Company

Amidst high inflation and the continuing war in Ukraine, strong demand persists; forecasting institutions trim growth estimates.

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Oil Giants Sell Dirty Wells to Buyers With Looser Climate Goals, Study Finds

NYT M&A

The transactions can help major oil and gas companies clean up their own production by transferring polluting assets to a different firm, the analysis said.

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Prepare now for the future of industrial services

Mckinsey and Company

A 600-executive survey reveals how services organizations can adapt to a remote-first world by revamping their operating models and carefully tailoring commercial models to match.

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3 steps to a successful and secure cloud migration

Avanade

There is no ‘best’ way or right route to the cloud and the path won’t be linear, but most organisations will move through three steps.

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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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Are Current Economic Conditions Affecting Your Small Business?

BV Specialists

There will always be differing opinions as to why the US, and the world in general, are facing significant challenges from inflation, supply chain delays, post-COVID hangovers, and many other economic factors that may have a negative impact on your family. If you own a small business, these issues can also impact your revenue and cost structure while creating new concerns you have never faced before.

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Philip Morris International nears $16bn deal for Swedish Match

Financial Times M&A

Marlboro seller close to acquisition of maker of snus tobacco pouches in further shift away from cigarettes

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The childcare conundrum: How can companies ease working parentsā€™ return to the office?

Mckinsey and Company

The status quo work culture no longer works for most familiesā€”particularly those with very young children. But companiesā€™ support for childcare can turn worker attrition into attraction. Hereā€™s how.

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McCollā€™s saga is lesson banks must take onboard with recession looming | Nils Pratley

The Guardian M&A

A rescue was on offer, so there was no need to create extra uncertainty by calling in the administrators Allā€™s well that ends well? Not quite. McCollā€™s has obviously got the right rescuer in the shape of Morrisons , the biggest supplier by far to the 1,100-strong convenience store chain. But David Potts, the chief executive of Morrisons, was entitled to say he was ā€œdisappointedā€ that this mini-drama involved McCollā€™s going into administration at all.

Banking 75
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A 6-Step Framework For Legal Industry Professional Growth

Law 360 M&A

Lana Manganiello at Equinox Strategy Partners discusses how implementing a professional growth framework will help legal professionals gain expertise in a relevant niche to build credibility, focus marketing efforts and build an ideal practice.

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Indiaā€™s JSW makes $7bn bid for Holcimā€™s India businesses

Financial Times M&A

Chair of countryā€™s biggest steelmaker says PM Modi values ā€˜nationalisticā€™ companies

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Pop Culture Co. Sues To Reclaim Wizard World Social Media

Law 360 M&A

A New York-based convention organizer that bought a pop culture events business from the company behind "Wizard World" sued the Utah-based company in Delaware for breach of contract and sought a court order for restored access to the company's social media accounts.

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Your Familyā€™s Guide for the Next 100 Years

Auto Dealer Valuation Insights

How does your family business think about success? James Hughes poses a question to the reader early on in Family Wealth: Keeping It in the Family that likely reorients our focus relating to successful family enterprises. “The Question: Can a family successfully preserve its wealth for more than one hundred years or for at least four generations?

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Do Venture Capital Funds Overstate Their Performance? The Effects of FOIA

Reynolds Holding

Venture capital (VC) has become an increasingly important asset class for institutional investors such as endowments, pension funds, insurance companies, and sovereign wealth funds, as well as for wealthy individuals. A large amount of money is involved: U.S. VC-backed companies raised nearly $300 billion in 2021. Moreover, there is a great deal of hype related to the potential benefits of VC.

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Best YouTube Channels to Learn Advanced Excel Skills

Andrew Stolz

Is Excel overwhelming for you? Or are you an Excel pro looking to add more tricks onto your utility belt? Look no further for here are the best YouTube Channels to learn advanced tricks that will take your Excel skills to the next level. YouTube allows almost everyone to share and access useful information. Being proficient in Excel will allow you to gain a competitive work advantage in today’s society and allow you to organize and manipulate the world’s most important resource; data

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Hyperautomation in Action: Purchasing and Payables

Audit Board

Process-level automation ā€” also known as hyperautomation ā€” involves the orchestrated use of multiple technologies to automate as many business and IT processes as possible. According to predictions from Gartner , McKinsey , and Deloitte , hyperautomation is one of the top technology trends of 2022. . In our Internal Audit Hyperautomation Blueprint Series , we explore examples of business processes typically selected for SOX and internal audit testing that contain many opportunities for hyperauto

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Why Hemisphere Media Shares Are Soaring Today

Benzinga

Gato Investments LP agreed to acquire Hemisphere Media Group, Inc (NASDAQ: HMTV ) at $7 per share. The offer price implies a premium of 86% over Hemisphere's closing share price on May 6, the last trading day before the announcement. Hemisphere will become a private company wholly owned by Gato. Hemisphere CEO Alan Sokol said, "As a private company, and with the support of Gato, we will.

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Latham, Paul Weiss, Sidley Assist Chelsea FC's $3.1B Sale

Law 360 M&A

A mostly American consortium led by billionaire Los Angeles Dodgers owner Todd Boehly has agreed to buy London's Chelsea Football Club for nearly $3.1 billion in a record-smashing sale that scored with help from a trio of U.S.-based firms.

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Sabre Unlocks New Opportunities For Hoteliers - Read How

Benzinga

Sabre Corp (NASDAQ: SABR ) has agreed to acquire Nuvola , a provider of hotel service optimization and guest engagement software to hoteliers, for an undisclosed sum. The transaction includes Nuvola technology and guest enablement software and the integration of Nuvola. Full story available on Benzinga.com.

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Considerations in Merger Transactions

Auto Dealer Valuation Insights

When considering a buy-side transaction to expand, many middle market companies may not consider a merger transaction as an option compared to an outright acquisition. Mergers are often seen as transactions for big conglomerate-type companies on Wall Street, but they can be effective for middle-market businesses as well. A merger is a combination of two companies on generally equal terms in which.

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LGBTQ Social Media Platform And Dating App Grindr Lands SPAC Deal: What Investors Should Know

Benzinga

A leading social media platform and dating company with a target demographic announced a SPAC deal after market close Monday. The SPAC Deal: Grindr announced a SPAC merger with Tiga Acquisition Corp (NYSE: TINV ). The deal values the company at an enterprise value of $2.1 billion. Tiga Acquisition Corp. public shareholders will own 14% of the company after the merger closes, assuming no redemptions at the merger vote.

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Mercer Capital to Sponsor and Attend the Houston ASA Energy Valuation Conference

Auto Dealer Valuation Insights

Mercer Capital is proud to be a Platinum Sponsor of the 2022 Energy Valuation Conference hosted by the American Society of Appraisers (ASA) Houston Chapter. This event will be held on May 12, 2022, at The Briar Club in Houston, Texas. Mercer Capital’s Bryce Erickson, ASA, MRICS, David Smith, ASA, CFA, and Justin Ramirez, ASA, ABV are attending.

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Merger Arbitrage Mondays - Black Knight (BKI) To Be Acquired By Intercontinental Exchange (ICE)

Benzinga

Merger activity decreased last week with three new deals announced and four deals completed. Two of the three deals announced were potential deals in the works. We saw yet another SPAC business combination fall apart. Black Knight (NYSE: BKI ). Founded in 2013 and headquartered in Jacksonville, Florida, Black Knight provides innovative, high-performance software, data and analytics for mortgage and home equity lending and servicing to the mortgage industry.

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Cypress Environmental Hits Ch. 11 With $60M Debt Swap

Law 360 M&A

Energy sector environmental inspection company Cypress Environmental Partners hit Chapter 11, saying in court filings it is looking to wrap up its pre-packaged reorganization plan within 45 days while swapping the equity in the business to cancel about $60 million in secured debt.

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Why Points.com Shares Are Soaring Today

Benzinga

Points.com Inc (NASDAQ: PCOM ) (TSX: PTS) entered into an arrangement agreement with Plusgrade Parent L.P. to be acquired for $25 per common share in cash (equivalent to C$32.21). The transaction values Points at ~$385 million on. Full story available on Benzinga.com.

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