Tue.Sep 27, 2022

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Web3 beyond the hype

Mckinsey and Company

While buffeted by the recent market downturn and bankruptcies, digital assets and the technologies underlying them still have the potential to transform business models across sectors.

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Voyager Assets, Customer Accounts To Be Acquired By FTX In $1.4B Deal

Benzinga

FTX US, the cryptocurrency exchange led by Sam Bankman-Fried, has won the bid to acquire Voyager Digital (OTC: VYGVQ ), the latter said in a statement late Monday. What Happened: The deal includes FTX buying all cryptocurrency held by Voyager, valued at $1.3 billion at current market prices. FTX is also providing an additional consideration that is estimated to add $111 million of incremental value.

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Trending Sources

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‘If you’re going to build something from scratch, this might be as good a time as in a decade’

Mckinsey and Company

In the second episode of our series The Quarterly Interview: Provocations to Ponder, venture capitalist Bill Gurley explains the promise and perils facing start-ups at a moment of economic uncertainty and reveals why hybrid work may be the most interesting technology of all.

Start-ups 111
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Why Voyager Token (VGX) Is Shooting Higher Today

Benzinga

Voyager Token (CRYPTO: VGX ), a token linked with digital assets trading firm Voyager Digital spiked 3.9% to $0.71 at 10:26 p.m. EDT. Voyager Token (VGX) Price Performance. Time-frame. % Change (+/-). 24-hour. 3.9%. 24-hour against Bitcoin (CRYPTO: BTC ). 0.6%. 24-hour against Ethereum (CRYPTO: ETH ). 0.4%. 7-day. -3.7%. 30-day. 55.5%. YTD-performance. -76.4%.

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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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Bumper City bonuses expected from takeover frenzy after pound hits record low

The Guardian M&A

UK firms now temptingly cheaper, with a ‘wave of bids’ from overseas buyers meaning payouts for bankers Bankers could rake in bumper bonuses from a “wave of bids” by overseas buyers for UK businesses made temptingly cheaper as a result of the plunge in the pound against the dollar. A fresh frenzy of merger and acquisition activity would mean a ramp-up in payouts for City dealmakers.

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Twitter CEO, Musk Depositions No-Go For Now In $44B Suit

Law 360 M&A

Widely anticipated depositions of Twitter CEO Parag Agrawal and Tesla CEO Elon Musk never got off the ground on Monday, the latest twist in the run-up to a five-day trial in Delaware starting Oct. 17 on Twitter's attempt to force Musk to close on a $44 billion take-private deal.

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Fostering fintech in green finance: An interview with Sopnendu Mohanty

Mckinsey and Company

The Chief FinTech Officer of the Monetary Authority of Singapore (MAS) believes that setting up a foundational infrastructure for data is needed to achieve sustainable finance.

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Reaping the Whirlwind: A September 2022 Inflation Update!

Musings on Markets

In my early 2021 posts on inflation, I argued that while the higher inflation that we were just starting to see could be explained by COVID and supply chain issues, prudence on the part of policy makers required that it be taken as a long term threat and dealt with quickly. Not only did they not do so, but the fiscal and monetary actions they took in 2021 exacerbated inflationary pressures.

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A sustainable society for all: An interview with Darian McBain

Mckinsey and Company

The Chief Sustainability Officer of the Monetary Authority of Singapore believes that people and society must be at the heart of any solution in Asia’s transition to net-zero emissions.

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Discovery Investor Sues Over HBO Max's Financial Struggles

Law 360 M&A

The $43 billion tie-up between media giants Discovery Inc. and Warner Bros. is facing court scrutiny with a proposed class action accusing Discovery of keeping investors in the dark about the flagging performance of Warner's streaming service HBO Max.

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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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The importance of financial viability for the net-zero transition

Mckinsey and Company

Climate Impact X CEO, Mikkel Larsen, on financially viable green solutions, and bridging gaps between the public and private sectors to drive Asia’s net-zero transition.

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Antitrust M&A Snapshot | Q2 2022

National Law Review M&A

Claire E. Danberg Karolien Van der Putten Jon B. Dubrow Joel Grosberg Jurisdiction: All Federal European Union United Kingdom Lisa P.

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Orlando Bravo: the buyout billionaire who backed bitcoin

Financial Times M&A

Plus, UBS’s new-ish chief feels the pressure and lessons from one of SoftBank’s most loyal executives

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The art of the possible: An interview with leaders from Scottish Water

Mckinsey and Company

Many organizations have made decarbonization commitments, but meeting those goals is a different story. Gordon Reid and Mark Williams from Scottish Water share their insights.

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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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Biffa accepts lowered £1.3bn US private equity bid

Financial Times M&A

UK waste manager’s shares jump 28% after deal with group controlled by Energy Capital Partners

Equity 72
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Beway Provides Conflicting Guidance re Statutory Fair Value in New York

Chris Mercer

New York has been one of only a very few states allowing the imposition of marketability discounts in statutory fair value appraisal processes. Like nearly all other states, New York case law prohibits the use of minority interest discounts in fair value appraisals. In this post, I will provide a review of a portion of a leading New York case in which the New York Appellate Division, First Department addresses the issue of minority interest and marketability discounts in statutory fair value det

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What Is a Roll-Up Strategy?

Midstreet Blog

If you're selling your business and think a private equity (PE) buyer could be a good fit, you may be in luck. As of 2021, there is $4 trillion being managed by private equity, 1.5 of which is in committed cash looking to be spent acquiring businesses. As a result, the amount of private equity involvement in business acquisitions has steadily increased, so it’s important to know how they invest should you be approached by a PE buyer.

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Linklaters Guides Biffa On £1.3B Takeover By PE Firm ECP

Law 360 M&A

British waste manager Biffa said Tuesday that it has agreed to a £1.3 billion ($1.4 billion) takeover offer from U.S. private equity firm Energy Capital Partners, a drop on the previously announced purchase price because of a "weakening economic environment.

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Considerations in Merger Transactions

Auto Dealer Valuation Insights

This week we welcome Nick Heinz, ASA to the Family Business Director Blog. Nick is a Senior Vice President at Mercer Capital and a member of the firm’s Transaction Advisory team. This article originally appeared as part of an ongoing series, Buy-Side Considerations, from Mercer Capital’s Transaction Advisory team and highlights key considerations for family businesses looking to engage in a merger.

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Booz Allen Says DOJ Way Off Base On Antitrust Allegations

Law 360 M&A

The U.S. Department of Justice "has not come close" to establishing that Booz Allen Hamilton's planned $440 million merger with EverWatch violates antitrust law, the companies said in a joint brief prompted by a preliminary injunction hearing earlier this month.

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The Blurring Lines between Private and Public Ownership

Reynolds Holding

Public versus private status is a common point of differentiation among companies and can determine, for example, how they are regulated and who can invest in them. Yet many private companies increasingly resemble their public counterparts. This blurring of the lines between public and private has been gradual, and in a new paper, I focus on three areas in which it has occurred: firms’ sources of capital, governance structures, and reliance on acquisitions to fuel growth.

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Healthcare M&A: Titans on spree as regulatory crackdown falls flat

Financial Times M&A

Court ruling likely to boost spirits and ultimately transactions in the sector

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U.S. Suit Over Alliance of American Airlines and JetBlue Goes to Trial

NYT M&A

The Justice Department antitrust case contends that the carriers’ cooperation in Boston and New York reduces competition.

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Why is a Vertical Analysis of a Company's Financial Statements More Important than the Company's Value?

Equilest

Think the Value is the essential part of a business valuation report? Think again. In a series of blog posts, we discuss other financial analyses that important at least as the Value. In this blog post, we deal with Vertical Analysis. Most people who read a company valuation report go directly to the bottom line - the line of the company's value. Although whether the company is worth $100,000, $200,000, or a million is very important, it is not the most critical question. .

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Proactive news headlines including Metalsgrove Mining, Boadicea Resources, Kingwest Resources and Poseidon Nickel

Benzinga

Sydney, Sept. 27, 2022 (GLOBE NEWSWIRE) -- Proactive, provider of real-time news and video interviews on growth companies listed in Australia, has covered the following companies: Metalsgrove Mining Ltd (ASX:MGA) shares were trading 57% higher intra-day, at 17 cents, after identifying the potential for lithium pegmatite at its Upper Coondina Lithium Project in the East Pilbara district of Western Australia.

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Meta Pushes FTC Bias Defense In VR Merger Case

Law 360 M&A

Meta Platforms Inc. has shot back against a bid by the Federal Trade Commission to cut some of its defenses against the agency's challenge of a virtual reality fitness app acquisition, contending they are necessary to show that bias displayed by the commission's chair taints the entire proceedings.

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Refrigerator Market to Reach USD 103.95 Billion by 2026 | Refrigerator Industry Striking CAGR of 6.3%

Benzinga

Pune, India, Sept. 27, 2022 (GLOBE NEWSWIRE) -- According to Fortune Business Insights, the global refrigerator market is anticipated to gain traction from the rising number of bars and ice cream parlors worldwide. Besides, the increasing consumption of processed and frozen food items would affect the market positively. This information is published by Fortune Business Insights™ in a recent report, titled, " Refrigerator Market, 2019-2026.

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SEC Rules Amplify Proxy Contest Threats For Cos.

Law 360 M&A

New U.S. Securities and Exchange Commission rules requiring the use of universal proxy cards in director election contests at publicly traded companies, which became effective this month, may open floodgates for special interest groups and shareholder activism efforts, say attorneys at Sidley.

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Silicon Photonics Market Size, Share, Trends, and Forecast Report 2022-2029 | Fortune Business Insights™

Benzinga

Pune, India, Sept. 27, 2022 (GLOBE NEWSWIRE) -- The global silicon photonics market will derive growth from exceptional product properties. According to a report by Fortune Business Insights, titled " Silicon Photonics Market Size, Share & Industry Analysis, and Regional Forecast, 2022-2029, " the market will derive growth from the increasing number of company mergers.

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Delta Exec Ordered To Testify At Rivals' Antitrust Trial

Law 360 M&A

Federal prosecutors can enforce a subpoena to compel a Delta Air Lines executive to testify at a bench trial set to start this week in a suit that alleges a partnership between two rival airlines is quashing competition in the transportation industry.

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Cannabis Beverages Market to Reach USD 19,063.58 Million by 2028 | At a CAGR 54.31%

Benzinga

Pune, India, Sept. 27, 2022 (GLOBE NEWSWIRE) -- The global cannabis beverages market size was USD 574.90 million in 2020. The market is slated to grow from USD 915.06 million in 2021 to USD 19,063.58 million in 2028 at a CAGR of 54.31% in the 2021-2028 period. This information is provided by our researchers at Fortune Business Insights , in the report, titled, "Cannabis Beverages Market, 2021-2028.".

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Caterpillar Facing Antitrust Case, While Komatsu Escapes

Law 360 M&A

A Delaware federal court on Monday refused to let construction equipment giant Caterpillar Inc. escape claims that it pressured an online auctioneer to break its contract with a would-be competitor, but said there was no evidence tying Komatsu America Corp. to the alleged scheme.

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Space Debris Monitoring and Removal Market Size Hit USD 1,527.7 Million by 2029 | Space Debris Monitoring and Removal Industry CAGR 7.15%

Benzinga

Pune, India, Sept. 27, 2022 (GLOBE NEWSWIRE) -- The global space debris monitoring and removal market size was valued at USD 866.4 million in 2021. The market is projected to grow from USD 942.3 million in 2022 to USD 1,527.7 million by 2029 , exhibiting a CAGR of 7.15% during the forecast period. This information is provided by Fortune Business Insights , in its report titled, " Space Debris Monitoring and Removal Market 2022-2029.".

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Sullivan & Cromwell Discusses Delaware Decision on Caremark Liability for Cybersecurity Failure

Reynolds Holding

On September 6, 2022, in Construction Industry Laborers Pension Fund on behalf of SolarWinds Corporation, et al. v. Mike Bingle, et al. (“ SolarWinds ”), [1] the Delaware Chancery Court granted a motion to dismiss a derivative suit against directors of SolarWinds Corporation, a provider of information technology infrastructure management software, for allegedly breaching their fiduciary duty of loyalty by failing to oversee the company’s cybersecurity risk, which, plaintiffs claimed, resulted in