Wed.Nov 01, 2023

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SPARCs: An Attractive Alternative to Traditional SPACs?

Harvard Corporate Governance

Posted by Mike Nordtvedt, Rezwan Pavri, and Austin March, Wilson Sonsini Goodrich & Rosati, on Wednesday, November 1, 2023 Editor's Note: Mike Nordtvedt and Rezwan Pavri are Partners and Austin March is an Associate at Wilson Sonsini Goodrich & Rosati. This post is based on a WSGR memorandum by Mr. Nordtvedt, Mr. Pavri, Mr. March, Bryan King , Heath DeJean, and Sally Yin.

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Disney Says It Will Take Full Control of Hulu

NYT M&A

The company will pay at least $8.61 billion to Comcast, which owned a 33 percent stake of the popular streaming service.

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From Transcripts to Insights: Uncovering Corporate Risks Using Generative AI

Harvard Corporate Governance

Posted by Alex Kim, Maximilian Muhn, and Valeri Nikolaev (University of Chicago, Booth School of Business), on Wednesday, November 1, 2023 Editor's Note: Alex Kim is a PhD Student, Maximilian Muhn is an Assistant Professor of Accounting, and Valeri Nikolaev is James H. Lorie Professor of Accounting and FMC Faculty Scholar at University of Chicago, Booth School of Business.

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Disney To Acquire Remaining Stake In Hulu: Here's How Much Streaming Platform Could Be Worth In Deal With Comcast

Benzinga

A battle between two media giants over the valuation of a leading streaming platform is almost at its end with a deal announced by Walt Disney Co. (NYSE: DIS ) to acquire the stake in Hulu it did not already own. Here are the details. What Happened: Disney shares struggled in 2023 , but the company may have a catalyst or an item that needed more clarity before finally putting it to rest.

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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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Microsoft 365 Copilot: Not your traditional tech adoption

Avanade

Discover what transformative strategies you need to unlock Copilot's full potential and revolutionize the way you work.

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Disney Pays $8.6B To Buy Comcast's Remaining Stake In Hulu

Law 360 M&A

The Walt Disney Co. will buy the remaining 33% stake in Hulu from Comcast Corp. for roughly $8.61 billion, furthering the entertainment giant's "streaming objectives," Disney said in a Wednesday statement.

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Attorneys, Law Schools Must Adapt To New Era Of Evidence

Law 360 M&A

Technological advancements mean more direct evidence is being created than ever before, and attorneys as well as law schools must modify their methods to account for new challenges in how this evidence is collected and used to try cases, says Reuben Guttman at Guttman Buschner.

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Globalization and the Decline of IPOs

Reynolds Holding

Initial public offerings (IPOs) play a vital role in facilitating capital formation and wealth distribution within an economy. The decline and low number of U.S. IPOs over the past 25 years have raised concerns among entrepreneurs, investors, and policymakers. The slow IPO market has partly contributed to the rise of a “listing gap,” meaning that there are fewer publicly listed firms than expected based on the size of the U.S. economy.

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IT Risk Assessment Fundamentals and Best Practices

Audit Board

IT risk assessments can be a great way to gain insight into your organization’s IT environment, risks, and controls. When completed in a methodical and well-scoped manner, IT risk assessments can be an extremely valuable tool for many stakeholders across the organization, including enterprise risk, audit, compliance, and security departments. Not only do IT risk assessments provide a comprehensive view of an organization’s security risk posture, but they also offer insights into the identificati

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How to Value an Auto Mechanic Shop

Peak Business Valuation

Auto mechanic shops provide repair and maintenance services for cars, trucks, vans, and trailers. This includes a wide variety of services such as scheduled preventative repair and maintenance, powertrain repair, brake repair, etc… According to IBIS World , there are over 280,000 auto mechanic shops throughout the United States. Although the automotive repair industry has struggled in recent years, we can expect healthy growth in the coming years.

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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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5 Steps to Persuade Decision Makers in Your Org to Invest in Technology Solutions

Audit Board

72% of risk executives say that implementing digital transformation initiatives is critical to growth. However, many companies are trapped in a web of siloed solutions, legacy tools, budget constraints, and internal politics. When I used to work in SOX compliance at a large public company, we used a legacy tool. Common pain points like endless follow up, disparate records, and constant status updates prompted us to entertain alternatives to our current solution.

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Legal Tech Co. Morae Acquires Exigent Group

Law 360 M&A

Legal technology provider Morae Global Corp. announced Wednesday it purchased global legal services and tech firm Exigent Group Ltd., broadening its footprint across five continents and 1,000 clients.

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Potential Takeover In Works for Cardiovascular Treatment Focused Cytokinetics

Benzinga

Cytokinetics Inc (NASDAQ: CYTK ), a late-stage biotech company focused on cardiovascular treatments, is reportedly exploring potential takeover options as it has garnered interest from at least one major pharmaceutical company in recent months. While the company has not disclosed any specifics, it is currently assessing its next course of action. Citing sources, the Bloomberg report suggests that potential suitors may wait until Cytokinetics releases data from an upcoming Phase 3.

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Mercer Capital’s Senior Litigation Team Attending the 2023 AAML Annual Meeting

Auto Dealer Valuation Insights

Two of the leaders of Mercer Capital’s Family Law Litigation team, Scott Womack, ASA, MAFF and Karolina Calhoun, CPA, ABV, CFF will be attending the upcoming 2023 American Academy of Matrimonial Lawyers (AAML) Annual Meeting in Chicago, Illinois on November 8-11, 2023. Scott Womack leads the firm’s Litigation Group. As part of his corporate litigation practice, Scott has deep experience in family.

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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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Hospital Mergers: The Value and Pitfalls

Shephard Mullin M&A

Hospital mergers have been an increasing trend in the healthcare markets over the past decade, with many proponents of these mergers believing that the overall consolidation of hospital services provides better outcomes for patients at large, and opponents arguing that these mergers only result in increased costs to patients. Over the last couple of years, there has been a slight decrease in the number of hospital mergers, in part due to the whirlwind of changes in society and the economy ( i.e.

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Chancery Keeps Some Claims Alive In Katapult SPAC Suit

Law 360 M&A

Some but not all Delaware Court of Chancery claims should go forward against blank-check company FinServ Holdings LLC and the officers and directors who steered it through an $883 million take-public deal for payment plan provider Katapult Holdings Inc., a Delaware vice chancellor ruled on Wednesday.

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Benchmark International is Exhibiting at UK LP Summit 2024

Benchmark Report

Benchmark International is delighted to announce it will be exhibiting at UK LP Summit on 8 th February 2024 at the Hilton London Canary Wharf.

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Lloyds rebuffs Barclay family’s latest £1bn attempt to regain Telegraph

Financial Times M&A

The family turned to Abu Dhabi to back its latest offer to regain control of the newspaper

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Debevoise Brings On Goodwin Tech M&A Co-Leader In SF

Law 360 M&A

A former co-chair of the technology mergers and acquisitions practice at Goodwin Procter LLP has jumped to Debevoise & Plimpton LLP in San Francisco.

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Virgin Media O2 cuts revenue guidance as consumers curb spending

Financial Times M&A

UK telecoms group warns customers are less willing to upgrade or buy new phones

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Inari Medical Expands Its Patient-Focused Mission with Agreement to Acquire LimFlow

Benzinga

Announces Q3 2023 Financial Results Inari to Host Conference Call Today at 1:30 P.M PT / 4:30 P.M. ET IRVINE, Calif., Nov. 01, 2023 (GLOBE NEWSWIRE) -- Inari Medical, Inc. (NASDAQ: NARI ) ("Inari"), a medical device company with a mission to treat and transform the lives of patients suffering from venous and other diseases, today announced that it has entered into a definitive agreement to acquire LimFlow, S.A., a privately held pioneer in limb salvage for patients with chronic limb-threatening

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Brookfield-led ‘final’ bid for Australian energy giant rebuffed by largest shareholder

Financial Times M&A

$12.

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Viper Energy Partners LP, a Subsidiary of Diamondback Energy, Inc., Announces Closing of GRP Acquisition

Benzinga

MIDLAND, Texas, Nov. 01, 2023 (GLOBE NEWSWIRE) -- Viper Energy Partners LP (NASDAQ: VNOM ) ("Viper" or the "Company"), a subsidiary of Diamondback Energy, Inc. (NASDAQ: FANG ) ("Diamondback"), today announced that it has completed its previously announced acquisition of certain mineral and royalty interests from affiliates of Warwick Capital Partners and GRP Energy Capital (the "GRP Acquisition").

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AirAsia: please cease our unease with lease fees deets, Mr Fernandes

Financial Times M&A

Investors need more information to decide whether this Spac deal is fit for take-off

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Core Specialty to Acquire American Surety Company

Benzinga

American Surety Company to operate as a separately managed Division of Core Specialty as expected 15 th specialty business unit Core Specialty to establish a new Bond, Credit & Guarantee subsegment, including the recently announced Mortgage Reinsurance Division Brings $98mm in 2022 GAAP gross premiums written CINCINNATI, Nov. 01, 2023 (GLOBE NEWSWIRE) -- Core Specialty Insurance Holdings, Inc. and its subsidiaries ("Core Specialty" or the "Company") and Eighth Amendment Holdings, Inc.

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Zillow Grabs Customer Relationship Biz For Up To $500M

Law 360 M&A

Zillow Group Inc. will pay up to $500 million for real estate-focused customer relationship management system Follow Up Boss, the real estate listing company announced Wednesday.

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CooperCompanies Expands CooperSurgical's Medical Device Portfolio with Acquisition of Select Cook Medical® Assets

Benzinga

SAN RAMON, Calif., Nov. 01, 2023 (GLOBE NEWSWIRE) -- CooperCompanies (NASDAQ: COO ), today announced it has closed the acquisition of select Cook Medical assets focused primarily on the obstetrics, doppler monitoring, and gynecology surgery markets. The purchase price was $300 million with $200 million paid at closing and the remaining $100 million to be paid in two $50 million annual installments.

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Morrison & Foerster Discusses Antitrust Actions for Third Quarter 2023

Reynolds Holding

The third quarter of 2023 was eventful for both domestic and international cartel enforcers. In the United States, the Department of Justice (DOJ) continues to revamp policies to sharpen its enforcement efforts. On October 4, 2023, the Deputy Attorney General announced a safe harbor for merging parties to self-report criminal violations—not just antitrust violations—for up to six months after the transaction closes.

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Pennant Acquires Northern Texas and Southern Oklahoma Hospice Provider

Benzinga

EAGLE, Idaho, Nov. 01, 2023 (GLOBE NEWSWIRE) -- The Pennant Group, Inc. (NASDAQ: PNTG ), the parent company of the Pennant group of affiliated home health, hospice, home care and senior living companies, today announced that it has acquired Guardian Hospice and Guardian Hospice of Oklahoma ("Guardian"), which provides skilled hospice services in Grayson, Fannin, Collin, Cook, Denton, and Hunt counties in Texas, and Bryan, Choctaw, Atoka, Pushmataha, Johnston, Coal, Marshall, Murray, Pontotoc, an

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Fieldfisher, Foley Steer Video Game Publisher's Acquisition

Law 360 M&A

Devolver Digital, a U.S.-based video game publisher, said on Wednesday that it has bought System Era Softworks, the developer of the popular game Astroneer, in a deal that could eventually be worth $40 million.

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Nexus Industrial REIT Announces Closing of Previously Disclosed Acquisition and Provides an Update on Its Debt

Benzinga

TORONTO, Nov. 01, 2023 (GLOBE NEWSWIRE) -- Nexus Industrial REIT (the "REIT") (TSX: NXR ) announced today that it has closed on its previously disclosed acquisition of an industrial property in London, Ontario. The $55.8 million acquisition was partially financed through the issuance of 2,394,774 Class B LP Units of a subsidiary limited partnership of Nexus at a price of $11.30 per unit in settlement of approximately $27.1 million of the purchase price.

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Omni Sues In Del. To Force $3.2B Forward Air Merger Closing

Law 360 M&A

Global freight venture Omni Logistics Inc. sued Forward Air Corp. in Delaware's Court of Chancery late Tuesday for an order compelling Forward to close on a $3.2 billion agreement to acquire Omni, accusing Forward of breaching the deal after negative investor and market reaction.

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Kayne Anderson Energy Infrastructure Fund and Kayne Anderson NextGen Energy & Infrastructure Announce Approval of Proposed Merger

Benzinga

HOUSTON, Nov. 01, 2023 (GLOBE NEWSWIRE) -- KA Fund Advisors, LLC ("Kayne Anderson"), which serves as the investment adviser to Kayne Anderson Energy Infrastructure Fund, Inc. (NYSE: KYN ) and Kayne Anderson NextGen Energy & Infrastructure, Inc. (NYSE: KMF ), today announced that all requisite stockholder approvals have been received for the proposed merger between KYN and KMF (the "Merger").

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Juul Aims To Send More Antitrust Claims To Arbitration

Law 360 M&A

Juul Labs Inc. urged a California federal judge to send claims from two e-cigarette buyers to arbitration in an antitrust multidistrict litigation stemming from its 2018 merger with competitor Altria, saying they agreed to the same arbitration clause that governed previous plaintiffs' claims.

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