Mon.May 23, 2022

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Private Company Boards Need Outside Directors

Harvard Corporate Governance

Posted by Maria Moats, Shawn Panson, and Carin Robinson, PricewaterhouseCoopers LLP, on Monday, May 23, 2022 Editor's Note: Maria Moats is the leader of PricewaterhouseCoopers LLP Governance Insights Center, Shawn Panson is the US Private Company Services Leader for PricewaterhouseCoopers LLP, and Carin Robinson is a Director at PricewaterhouseCoopers LLP.

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Supply chains: To build resilience, manage proactively

Mckinsey and Company

Supply chain upheavals show little sign of abating. Companies can address them by reconsidering outdated, short-term strategies and beginning the hard work of building structural resilience.

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Will Corporations Deliver Value to All Stakeholders?

Harvard Corporate Governance

Posted by Lucian Bebchuk and Roberto Tallarita (Harvard Law School), on Monday, May 23, 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; and Roberto Tallarita is a Lecturer on Law and Associate Director of the Program on Corporate Governance at Harvard Law School.

Finance 259
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Could Apple, Amazon Or Disney Acquire A Gaming Company? Why Electronic Arts Stock Is Rising

Benzinga

Electronic Arts Inc (NASDAQ: EA ) shares are trading higher Monday following reports the company is exploring a sale. According to a Puck report , EA is actively looking for a buyer and has already held talks with several suitors including Apple Inc (NASDAQ: AAPL ), Amazon.com Inc (NASDAQ: AMZN ) and Walt Disney Co (NYSE: DIS ). EA is reportedly open to a complete buyout or a merger opportunity in which its.

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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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Recent Delaware Corporate Law Trends and Developments

Harvard Corporate Governance

Posted by Edward B. Micheletti, Jenness E. Parker, and Lauren N. Rosenello, Skadden, Arps, Slate, Meagher & Flom LLP, on Monday, May 23, 2022 Editor's Note: Edward B. Micheletti and Jenness E. Parker are partners and Lauren N. Rosenello is an associate at Skadden, Arps, Slate, Meagher & Flom LLP. This post is based on their Skadden memorandum, and is part of the Delaware law series ; links to other posts in the series are available here.

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Four pitfalls to avoid in transforming the patient experience in healthcare

Avanade

There are several pitfalls healthcare providers must avoid while trying to strike a balance between elevating the patient experience and maintaining their duty to a patient’s wellbeing.

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Why Vmware Shares Are Surging

Benzinga

Vmware Inc (NYSE: VMW ) shares are trading higher Monday following several reports Broadcom Inc (NASDAQ: AVGO ) is in talks to acquire the company. According to multiple reports, citing people familiar with the matter, Broadcom has expressed interest in acquiring Vmware for up to $50 billion. Full story available on Benzinga.com.

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NY Ruling Correctly Deems Legal Finance Docs Irrelevant

Law 360 M&A

A New York appeals court's recent decision in Worldview Entertainment v. Woodrow joins a growing trend of decisions denying discovery of litigation funding documents, highlighting that commercial legal finance should be treated just like any other financing in commercial litigation, says Andrew Cohen at Burford Capital.

Finance 97
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Catalyst Biosciences Stock More Than Doubles After Assets Sale To Vertex

Benzinga

Catalyst Biosciences Inc (NASDAQ: CBIO ) has agreed to sell its portfolio of protease medicines that regulate complement to Vertex Pharmaceuticals Incorporated (NASDAQ: VRTX ) for $60 million. "This sale is part of the ongoing strategic process that we announced in February to explore alternatives and create value for shareholders. We have significantly reduced our cash burn and continue.

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Federal Agency in Charge of Appraisers

Appraisers Blog

Having a federal agency in charge of appraisers will be a NIGHTMARE. Leave it to the states as it is now. ALL appraisers should be SWAMPING their state representatives with calls & emails in OPPOSITION to newly introduced H.R. Bill entitled: Fair Appraisal and Inequity Reform Act of 2022. DO IT NOW. **Remind them all that the job of a Professional Real Estate Appraiser is to PROTECT THE PUBLIC TRUST.

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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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RV Dealer Camping World Makes Largest Acquisition In Its History - Read More

Benzinga

Camping World Holdings Inc (NYSE: CWH ) has agreed to acquire Richardson's RV Centers in California. The financial terms of the deal were not disclosed. The agreement includes eight locations in California and Indiana, five current. Full story available on Benzinga.com.

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Antitrust Enforcers’ Third “Listening Forum” On Merger Reform Highlights Issues In The Media and Entertainment

National Law Review M&A

Arindam Kar Jurisdiction: All Federal Type of Law: Antitrust & Trade Regulation Communications, Media & Internet Mergers & Acquisitions Entertainment, Art & Sports

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Innoviva Acquires AstraZeneca-Spin Off At $2.20/Share

Benzinga

Innoviva Inc (NASDAQ: INVA ) has agreed to acquire Entasis Therapeutics Holdings Inc (NASDAQ: ETTX ) at $2.20 per share in cash. Innoviva currently owns approximately 60% of the outstanding shares of Entasis common stock. The acquisition consideration values Entasis' equity at $113 million on a fully diluted basis. "This acquisition will build upon our overall strategy to acquire.

Equity 97
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The HSBC banker suspended for speaking his mind

Financial Times M&A

Plus, Michael Dell’s deal of the century continues to pay off and the CEO of Hong Kong’s stock exchange attempts to attract foreign IPOs despite the odds

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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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Parker Divests Aircraft Wheel & Brake Division To Kaman

Benzinga

Parker-Hannifin Corp (NYSE: PH ) has agreed to divest its Aircraft Wheel and Brake Division, located in Avon, Ohio, in the U.S., to Kaman Corp (NYSE: KAMN ) for $440 million. Parker's Aircraft Wheel and Brake Division is a manufacturer of aircraft wheel and brake systems and related hydraulic. Full story available on Benzinga.com.

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Small Business Service Providers vs. Product Manufacturers

BV Specialists

There are distinct differences between companies that provide a third-party service to their clients versus those which create products for sale to other manufacturers or end-users. Examples of service providers would be banks, financial advisors, insurance companies, vehicle repair shops, salons, spas, hotels, medical facilities, consultants, and appraisers.

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IFRS 9 models in financial instruments and impairment regulations: The new reality and lessons learned

Mckinsey and Company

Banks need to evolve International Financial Reporting Standard (IFRS) 9 models quickly—and those that get it right will have more than just a competitive advantage.

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Catching Up With Delaware's Chancery Court

Law 360 M&A

This is the final full work week for Vice Chancellor Joseph R. Slights III, who retires on June 1. Law360 sat down with the 58-year-old vice chancellor to talk about his 18 years as a Delaware judge and what he expects to do next.

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Broadcom/VMware: mature software stars are cash cows for the downturn

Financial Times M&A

Acquisition of cloud business would complete transformation of company into a tech vendor

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Bias Busters: When the crowd isn’t necessarily wise

Mckinsey and Company

Leaders need to recognize herd mentality when it happens—and explore the contrarian view to help break the spell.

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Siemens Energy warns on wind costs ahead of Gamesa acquisition

Financial Times M&A

Group’s chief says market is ‘in dire straits’ because of surging raw material prices

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Q1 2022 Earnings Calls

Auto Dealer Valuation Insights

There continues to be no end in sight for new vehicle supply constraints. So much so that it’s taken as a given, and there was less direct mention of inventory shortages in 2022’s first quarter public auto dealer earnings calls. Despite this shift, scarce inventory remains the key theme underpinning the operating environment for auto dealers.

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Raymond James View Skewed Scenarios On Absent Supportive Bid For This Animal Health Stock

Benzinga

Raymond James downgraded the rating on Covetrus Inc (NASDAQ: CVET ) from Outperform to Market Perform and removed the prior $22 price target after the company received a buyout at $21 per share. Though $21 may not ultimately prove to be the final resting place in terms of the offer price. Raymond James believes the proposed purchase price captures the most fundamentally driven value-creation scenarios over the next 12-18 months without a competing financial sponsor offer.

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Peloton, Planet Fitness, and Family Business

Auto Dealer Valuation Insights

Think back to March 2020. Many businesses and operations saw immediate stoppages and closures with no idea when they could restart. The fitness industry was no exception. Planet Fitness, the gym operator, completely shut down its locations and its stock plummeted. Peloton Interactive saw sales surge for its at-home exercise spin-bike and its stock soar.

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A Force in Hollywood’s Private-Equity Boom Adds a Spanish-Language Company

NYT M&A

Candle Media, run by former Disney executives, is buying Exile, which has deals to produce shows for Netflix, HBO and Amazon Prime.

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Risk and Strategic Intelligence

Norman Marks

One of the issues that has concerned me over the years is who is not only responsible for understanding what might happen (both risks and opportunities) but also has the capability to do so. The easy answer is that operating management is responsible for understanding, evaluating, and addressing what might happen that could affect their […].

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FCF Biotech Venture Capital Monitor – USA 04/2022 published

Fox Corporate Finance

FCF Fox Corporate Finance GmbH is delighted to publish the new “FCF Biotech Venture Capital Monitor – USA 04/2022”. The Monitor is a monthly published overview of venture capital trends in the US-Biotech sector. As. Read more. The post FCF Biotech Venture Capital Monitor – USA 04/2022 published appeared first on FCF Fox Corporate Finance GmbH.

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Moonpig Unveils $156M Plan To Snag Buyagift

Law 360 M&A

British online greeting card and gift company Moonpig Group announced Monday a proposed deal to acquire gifting platform Smartbox Group UK Ltd., also known as Buyagift, for £124 million ($156 million), sending Moonpig's stock price up 11% at the news.

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The 2022 IBBA Conference – A Sense of Normalcy

Merrimack Business Appraisers

It was great to be at the 2022 International Business Brokers Association (IBBA) Annual Conference in Denver, Colorado earlier this month. It was the first conference I had been to since the pandemic started and the attendance was the largest ever for the conference with over 700 attendees! So, while gas prices and inflation rise […]. The post The 2022 IBBA Conference – A Sense of Normalcy appeared first on Merrimack Business Appraisers.

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Creditors Question Need For Architectural Firm's Ch. 11 Loan

Law 360 M&A

The unsecured creditors of architectural firm EYP Group on Monday asked a Delaware bankruptcy judge to examine whether the company needs to draw on the rest of its $5 million in Chapter 11 financing, particularly since it is coming from EYP's prospective buyer.

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Does Geography Matter for a Business Valuation?

Merrimack Business Appraisers

If you are in need of a business valuation, whether to settle an estate or divorce or for a business or shareholder dispute, criteria for selecting the business valuation professional need not consider geography. Similar to a recent blog regarding industry specialization, neither industry or geography matter. As a certified business appraiser, I have prepared […].

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New York Pass-Through Entity Tax Updates

Trout CPA

On May 6, 2022, New York enacted S.B. 8948 to extend the deadline for “electing resident S corporations” to make the pass-through entity tax (PTET) election for 2022 and to modify the PTET’s estimated payment requirements for 2022.

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Merger Arbitrage Mondays - U.S. Defense Contractor ManTech International To Be Acquired By Carlyle

Benzinga

Merger activity decreased last week with two new deals announced and three deals completed. ManTech International Corporation (NASDAQ: MANT ). Co-founded in 1968 by Franc Wertheimer and George J. Pedersen, ManTech International Corporation is an American defense contracting firm based in Herndon, Virginia. We added ManTech as a potential deal on February 3, 2022, when Reuters reported that George Pedersen was exploring options for his controlling stake in the company.

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German Shopping Center Investor Gets $1.48B Takeover Offer

Law 360 M&A

Hercules BidCo GmbH sent an offer Monday for a voluntary public takeover of German shopping center investor Deutsche EuroShop, valued at about €1.4 billion ($1.48 billion) and to be managed by Oaktree Capital Group and CURA Vermögensverwaltung G.m.b.H & Co.

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