Fri.Jul 29, 2022

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Board Effectiveness and the Chair of the Future

Harvard Corporate Governance

Posted by Dan Konigsburg, Jo Iwasaki and William Touche, Deloitte LLP, on Friday, July 29, 2022 Editor's Note: Dan Konigsburg is Global Corporate Governance Leader, Jo Iwasaki is Corporate Governance Advisory Lead, and William Touche is a senior audit partner at Deloitte. This post is based on a Deloitte memorandum by Mr. Konigsburg, Ms. Iwasaki, Mr.

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A Sneak Peek at the 2022 AAML/BVR Divorce Conference—Part 2

BVR

As the 2022 AAML/BVR National Divorce Conference gets closer and our speakers rev up to present their amazing slate of topics, we thought we’d share a few more of the upcoming topics of discussion to whet your appetite for the can’t-miss event.

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Regulatory Instability for Proxy Advisory Firms

Harvard Corporate Governance

Posted by David A. Katz and Laura A. McIntosh, Wachtell, Lipton, Rosen & Katz, on Friday, July 29, 2022 Editor's Note: David N. Katz is partner and Laura A. McIntosh is consulting attorney at Wachtell, Lipton, Rosen & Katz. This post is based on their Wachtell memorandum. The latest developments in the SEC regulation of proxy advisory firms are good news for ISS and Glass Lewis, but they are a disappointment for proponents of conscientious and consistent rulemaking.

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The Great Attrition in frontline retail—and what retailers can do about it

Mckinsey and Company

New research reveals which aspects of the employee experience matter most to US frontline retail workers. Retailers must pay attention and act quickly or risk losing more than half their store staff.

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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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Weekly Roundup: July 22-28, 2022

Harvard Corporate Governance

Posted by the Harvard Law School Forum on Corporate Governance, on Friday, July 29, 2022 Editor's Note: This roundup contains a collection of the posts published on the Forum during the week of July 22-28, 2022. A Board’s Guide to Oversight of ESG. Posted by Katie LaVoy, Sidley Austin LLP, on Friday, July 22, 2022. Tags: Board oversight , Boards of Directors , Caremark , ESG , Fiduciary duties , Liability standards , Risk oversight.

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Twitter, Elon Musk To Face Off In October: Here's What You Need To Know

Benzinga

A court date has been set for Twitter Inc (NYSE: TWTR ) to face off against Tesla Inc (NASDAQ: TSLA ) CEO Elon Musk after he backed out of buying the social media company. The case of Twitter Inc v. Elon Musk is set to go to trial on Oct. 17, 2022, if the two parties don’t reach a settlement beforehand, according to CNBC. The case. Full story available on Benzinga.com.

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DOJ Set To Pitch Book Publisher Merger Challenge To Judge

Law 360 M&A

Prolific scribe Stephen King is among a parade of industry players slated to testify about the business of publishing blockbuster books during a trial that starts Monday over Penguin Random House's planned purchase of Simon & Schuster.

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Growing and sustaining prosperity for small-town Americans

Mckinsey and Company

The divide between rural and urban communities has widened as the COVID-19 pandemic pushes rural communities’ economic recovery further behind. How can leaders put rural regions on track to thrive?

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Munster's Take On 'Gravity-Defying' Apple's Q3 Results: iPhone Stronger Than 'Acre Of Garlic,' Guidance In Line, Softness In Services

Benzinga

Apple, Inc. (NASDAQ: AAPL ) reported late Thursday fiscal-year third-quarter results that exceeded muted expectations. Apple is “defying gravity and powering through the early stages of the macro downturn,” Loup Fund’s Gene Munster said, commenting on the quarterly results. iPhone Now A Necessity: CEO Tim Cook said on the earnings call there was no evidence of a macroeconomic impact on iPhone sales during the quarter besides forex , the analyst-turned-tech veture capitalist sai

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From saving to spending: A second front emerges in the US retirement challenge

Mckinsey and Company

While accumulation has long been a focus for pre-retirees, ensuring a consistent and sufficient stream of income through retirement is now a pressing need for many.

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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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Lease Accounting Software Options

Gross Mendelsohn

In wake of the new lease accounting standards, Accounting Standards Codification (ASC) 842 and International Financial Report Standards (IFRS) 16 , it’s important that you have the right technology in place to handle complicated lease situations and ensure that your organization is compliant. Many companies without a comprehensive lease management software rely on tedious manual processes, spreadsheets and disparate systems that are cumbersome and prone to errors.

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‘Gumming up’: unwanted debt from buyout boom stuck at investment banks

Financial Times M&A

Wall Street lenders stomach losses on private equity deal financing offered before market swoon

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Chancery Sets Oct. 17 Start To $44B Musk Twitter Trial

Law 360 M&A

Twitter and Elon Musk will face off in a five-day trial over Musk's declared intent to walk away from a $44 billion deal to buy the social media giant starting Oct. 17, Delaware's Chancellor ruled.

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Extending upmarket in US commercial banking

Mckinsey and Company

Serving larger commercial clients is a significant growth opportunity for US midcap and regional banks—with the right strategy in place.

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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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Schwab’s 2022 Benchmarking Study Offers Insights Into the RIA Industry

Auto Dealer Valuation Insights

Schwab recently released its 2022 RIA Benchmarking Study. The survey contains responses from over 1,200 RIAs representing $1.8 trillion in AUM to questions about firm operating performance, strategy, and practice management. The survey is a great resource for RIA principals to see how their firm’s performance and direction measure up against the average firm.

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The Benefits of Using a Business Broker to Sell Your Business

Hallmark Brokers

Many small and large business owners in the US make the mistake of believing they can sell their business independently without outside assistance. Although it is possible, selling a business without guidance often leads to many unforeseen problems and can result in a sale falling through and a business going back on the market indefinitely. Read more.

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Oracle Adviser On $9.3B NetSuite Deal Denies Ellison Role

Law 360 M&A

A Moelis & Co. adviser to a special Oracle Corp. board committee that recommended a disputed $9.3 billion acquisition of Netsuite in 2016 testified in Delaware on Friday that the deal emerged from months of negotiations with the seller and without influence from Oracle founder Lawrence J. Ellison.

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Vodafone Agrees To Sell Its Ghana Operations To Telecel: Report

Benzinga

Vodafone Group Plc (NASDAQ: VOD ) agreed to sell its operations in Ghana to Telecel Group, Bloomberg reports quoting a company email. The financial terms of the transaction remain undisclosed. Vodafone entered Ghana in 2008, paying the west African county’s government $900 million for 70% of Ghana Telecommunications. Full story available on Benzinga.com.

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Potentially undervalued: Magnit PJSC

Valutico

Magnit PJSC. Weekly Valuation – Valutico | 29 July 2022. Click here for the detailed valuation: link. Magnit is a Russian food and pharma retailer headquartered in Krasnodar. According to the company, it has around 260,000 employees and operates more than 5,500 supermarkets, over 100 hypermarkets and nearly 500 drugstores in a total of over 1,500 locations in Russia.

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Why This Spirit Airlines Analyst Is Turning Bearish

Benzinga

While shares of Spirit Airlines Inc. (NYSE: SAVE ) significantly outperformed the sector after the JetBlue Airways Corporation (NASDAQ: JBLU ) merger announcement , there is likely to be little progress on the regulatory front until at least the first quarter of next year, according to JPMorgan Chase & Co. (NYSE: JPM ). The Spirit Airlines Analyst: Full story available on Benzinga.com.

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Why the UK is the best place to set up a limited company

Vested

As a business owner, there are many different ways to organise your company. Each distinct way offers its own advantages, and the type you choose will depend on your specific situation.

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Antenna Group Emerges as Bidder for Vice Media

NYT M&A

Vice Media, which is exploring a sale of its business, has a longstanding relationship with the Greek broadcaster.

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Covington Taps Partner To Head Latin America Initiative

Law 360 M&A

Covington & Burling LLP has selected an experienced arbitration attorney to help spearhead its Latin America initiative targeting four practice areas.

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Benchmark International Successfully Facilitated the Transaction Between McAlister Design, Inc. and Wauseon Machine and Manufacturing, Inc.

Benchmark Report

Benchmark International is pleased to announce the transaction between McAlister Design, Inc. and Wauseon Machine and Manufacturing, Inc.

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Enbridge Invests In $5.1B Liquefied Natural Gas Project

Law 360 M&A

Pacific Energy Corp. Ltd. and Enbridge Inc. have agreed to jointly invest in the construction and operation of a $5.1 billion, 2.1 million-tonne-per-year liquefied natural gas export facility project, the companies announced Friday.

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Targa Resources Corp. Completes Acquisition of Lucid Energy

Benzinga

HOUSTON, July 29, 2022 (GLOBE NEWSWIRE) -- Targa Resources Corp. (NYSE: TRGP ) ("Targa" or the "Company") announced today that one of its wholly-owned subsidiaries has completed the previously announced acquisition of Lucid Energy Delaware, LLC ("Lucid") for $3.55 billion. This acquisition extends and further strengthens Targa's position in the core of the Delaware Basin.

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Tech Leads Nearly $2.26T In M&A From 2022's 1st Half

Law 360 M&A

While the number of mergers and acquisitions for private companies increased during the first six months of the year compared with the same period in 2021, the total value of the deals decreased as concerns over inflation, higher interest rates and a possible recession loomed over the economy.

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Compass Diversified Terminates Agreement to Sell Advanced Circuits

Benzinga

WESTPORT, Conn., July 29, 2022 (GLOBE NEWSWIRE) -- Compass Diversified (NYSE: CODI ) ("CODI" or the "Company"), an owner of leading middle market businesses, today announced that its majority-owned subsidiary, Compass AC Holdings, Inc. ("Advanced Circuits"), terminated the previously announced Agreement and Plan of Merger, dated as of October 13, 2021 (the "Merger Agreement"), pursuant to which Advanced Circuits was to be sold to Tempo Automation, Inc.

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Monthly Merger Review Snapshot

Law 360 M&A

United Kingdom antitrust authorities reopened their review of Meta's Giphy deal, European Union officials faulted Illumina for "jumping the gun" in finalizing its reacquisition of Grail while still under investigation, and the Federal Trade Commission challenged a Meta deal looking to expand its presence in the virtual reality metaverse.

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Proactive news headlines including Zipmex, Amazon, Q BioMed, Apple, Chevron, Intel, San Leon Energy

Benzinga

New York, NY, July 29, 2022 (GLOBE NEWSWIRE) -- New York , July 29, 2022 (GLOBE NEWSWIRE) -- Proactive, provider of real-time news and video interviews on growth companies listed in the US and Canada, has covered the following companies: Zipmex the latest exchange to fall victim to crypto winter click here. Oppenheimer & Co raises Amazon price target after online retailer's 2Q results "exceeded expectations" click here.

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2 Firms To Lead Edgio Investor Suit in Del. Over Power Grab

Law 360 M&A

Bernstein Litowitz Berger & Grossmann LLP and Friedman Oster & Tejtel PLLC will lead a consolidated shareholder suit in Delaware Chancery Court alleging that directors of software solutions provider Edgio carried out an "entrenchment scheme" in connection with its $300 million acquisition of a Yahoo business unit.

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Kaltura Confirms Receipt Of Unsolicited Proposal From Panopto

Benzinga

NEW YORK, July 29, 2022 (GLOBE NEWSWIRE) -- Kaltura Inc. (NASDAQ: KLTR ) is aware of the public announcement made by Panopto, Inc., a private company owned by K1 Investment Management, LLC, regarding a non-binding, unsolicited proposed business combination transaction in which Panopto would acquire all of the Company's outstanding common stock at a purchase price of $3.00 per share in cash.

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Don't Miss It: Cooley, Fried Frank Guide Week's Hot Deals

Law 360 M&A

With so much mergers and acquisitions news this week, you may have missed several deals announced in the last several days helmed by firms such as Cooley LLP and Fried Frank Harris Shriver & Jacobson LLP. Here, Law360 recaps the ones you may have missed.

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Nuvus Gro Corp (OTC Pink: NUVG) Announces Name Change to Music Licensing, Inc.

Benzinga

NAPLES, Fla., July 29, 2022 (GLOBE NEWSWIRE) -- via InvestorWire – Nuvus Gro Corp ( OTC Pin k : NUVG ) Announces Name Change to Music Licensing, Inc. The Change comes ahead of the acquisition of Pro Music Rights, Inc. one of the world's largest music licensing companies. Additional detailed information will be Disclosed via Regulatory filing(s) & Press Release(s).

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