Fri.May 17, 2024

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ValuAsia Connect Webinar Series: Intangible Assets

IVSC

Introduction Welcome to ValuAsia Connect, your gateway to the vibrant world of valuation in Asia! Following the success of our inaugural webinar , we are delighted to announce the second instalment of our series — ValuAsia Connect: Intangible Assets. Presented by the International Valuation Standards Council (IVSC) and the Institute of Valuers and Appraisers, Singapore (IVAS), this webinar explores the intricate domain of intangible asset valuation.

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Statement by Chair Gensler on Amendments to Regulation S-P

Harvard Corporate Governance

Posted by Gary Gensler, U.S. Securities and Exchange Commission, on Friday, May 17, 2024 Editor's Note: Gary Gensler is Chair of the U.S. Securities and Exchange Commission. This post is based on his recent statement. The views expressed in this post are those of Chair Gensler, and do not necessarily reflect those of the Securities and Exchange Commission or its staff.

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Glass Lewis, ISS Split On Chevron-Hess Deal Guidance

Law 360 M&A

Hess Corp. shareholders got mixed advice from the two leading proxy advisory firms on whether to vote in favor of a $53 billion takeover by Chevron Corp., further muddling the oil and gas giants' path to closing the mega-deal amid an ongoing dispute with Exxon Mobil Corp.

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Weekly Roundup: May 10-16, 2024

Harvard Corporate Governance

Posted by the Harvard Law School Forum on Corporate Governance, on Friday, May 17, 2024 Editor's Note: This roundup contains a collection of the posts published on the Forum during the week of May 10-16, 2024 Fee Variation in Private Equity Posted by Juliane Begenau (Stanford University), and Emil Siriwardane (Harvard Business School), on Friday, May 10, 2024 Tags: Fee Variation , GPs , LPAs , Private equity , SEC Investment Advisers and Sponsors Compliance Policies: Hot Topics Posted by Meaghan

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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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T-Mobile Must Face Sprint Merger Suit Before Appealing

Law 360 M&A

The Seventh Circuit summarily rejected T-Mobile's move for interlocutory appeal in a proposed consumer class action targeting the company's 2020 merger with Sprint, allowing the case to advance to discovery after the district court denied T-Mobile's motion to dismiss in the fall.

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Sony and Apollo Take Key Step in Bid for Paramount’s Assets

NYT M&A

The two companies have expressed interest in acquiring the media conglomerate, but are backing away from their $26 billion all-cash offer.

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Comment on Low Value = Material Deficiencies? New FHA ROV Policy by Baggins

Appraisers Blog

The implication is if the VALUE is too low, then there must be “material deficiencies” present. This implication here is deeply troubling!

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The Impact of Global Economic Trends on Business Sales: Navigating Mergers and Acquisitions in a Dynamic Marketplace

Sun Acquisitions

Business photo created by gpointstudio – www.freepik.com In the interconnected global business landscape, the ever-shifting tides of the economy play a pivotal role in shaping the fate of mergers and acquisitions (M&A). From changes in trade policies to currency fluctuations, global economic trends profoundly impact the buying and selling of businesses.

Finance 59
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Spirit AeroSystems To Lay Off Hundreds As Boeing Struggles with Production

Benzinga

Spirit AeroSystems Holdings Inc (NYSE: SPR ), a primary supplier of jet fuselages, is reducing its workforce by 400 to 450 employees at its Wichita , Kansas factory. The layoffs are a response to a production deceleration at Boeing Co (NYSE: BA ), Spirit’s largest client. “The recent slowdown in the delivery rate on commercial programs compels a reduction to our workforce in Wichita,” Spirit stated.

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Debevoise Hires Former Clifford Chance US Antitrust Head

Law 360 M&A

Tim Cornell, former head of the U.S. antitrust group at Clifford Chance LLP, will join Debevoise & Plimpton LLP's Washington, D.C., office as partner, Debevoise announced Friday.

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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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Oilfield Water Industry Update, Trends, and the Future

Auto Dealer Valuation Insights

The oilfield water industry (OFW, or midstream water) continues to grow in importance within the general upstream energy industry. So much so that while historically considered part of the Oilfield Services Industry (OFS), midstream water is now considered its own industry within the upstream space, separate from the more general OFS.

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Aramark Spinoff Faces Investor Action Over Slow Growth

Law 360 M&A

Uniform supplier Vestis Corp. was hit with a proposed class action on Friday alleging that it concealed years of underfunding prior to being spunoff by Aramark last year, leaving it unable to grow its revenue and retain customers.

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Are Toxic Cultures the Silent Killers of the Asset Management Industry?

Auto Dealer Valuation Insights

We’ve blogged about the external headwinds facing asset managers relative to other sectors of the investment management industry with scant reference to what actually causes many of them to fail: toxic cultures.

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Meet The Attys Fighting Efforts To Ban TikTok

Law 360 M&A

Facing a potential federal ban, TikTok and creators on the platform have tapped a bevy of BigLaw heavyweights, including attorneys who have successfully led challenges to prior moves to shut down the popular social media platform and limit children's online activities, as well as a pair of litigators who've argued dozens of cases before the U.S. Supreme Court.

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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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Exploring Donor-Advised Funds for Privately Held Business Owners’ Philanthropy

Exit Strategy

For business owners of privately held companies seeking a seamless and impactful way to contribute to charitable causes, Donor-Advised Funds (DAFs) have emerged as a philanthropic and tax-efficient solution. These vehicles offer a flexible and tax-efficient way to manage charitable donations, allowing donors to make contributions to a fund and then recommend grants to their […] The post Exploring Donor-Advised Funds for Privately Held Business Owners’ Philanthropy appeared first on Exit St

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TikTok, Feds Ask DC Circ. To Fast-Track Potential Ban Row

Law 360 M&A

TikTok, a group of its creators and the U.S. Department of Justice on Friday all asked the D.C. Circuit to fast-track challenges to a new federal law that would exclude the popular app from the U.S. market unless it cuts ties with its Chinese parent company.

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GSK Completely Exits Sensodyne Toothpaste Maker Haleon In $1.6B Sale

Benzinga

GSK plc (NYSE: GSK ) confirmed the sale of 385.3 million shares in Haleon plc (NYSE: HLN ) for $1.58 billion. The shares represented around 4.2% of the issued share capital of Haleon. Following the settlement of the placing, GSK will have fully exited its position and will no longer hold any ordinary shares in Haleon. See Also: Colgate-Palmolive Has Strong Brand-Building And Analytics-Driven Marketing Strategy, Full story available on Benzinga.

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RedBird Flags Brookfield 'Gamesmanship' In Chancery Suit

Law 360 M&A

Private investment firm RedBird Capital Partners has urged Delaware's Court of Chancery to strike unauthorized motions by Brookfield Infrastructure Partners seeking dismissal of a RedBird suit to recover a $150 million escrow included in a $5.7 billion sale of data centers to Brookfield affiliates last year.

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HCM Founder/CEO Discusses Importance of Employee Retention and the Role of AI

ThomsonReuters

Employee retention is a pivotal concern for organizations across industries, as high turnover rates can significantly undermine productivity, morale, and profitability. Human resource (HR) and payroll professionals play a crucial role in implementing strategies and leveraging data-driven insights to foster a positive work environment and mitigate attrition risks.

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Kohl's Directors' Aversion To Sale Was Self-Serving, Suit Says

Law 360 M&A

A Kohl's shareholder has hit the retailer's brass with a derivative suit alleging they covered up the results of a disastrous shift in business strategy and takeover offers, all in a bid to protect their own positions.

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Accenture Expands In Japan - What's Going On?

Benzinga

Accenture Plc (NYSE: ACN ) shares are trading slightly lower on Friday. In a press release late Thursday, the company said it has agreed to acquire OPENSTREAM HOLDINGS and its subsidiaries, Open Stream and Neutral, in Japan. Terms of the transaction were not disclosed. “With OPENSTREAM HOLDINGS, we can better help our clients reinvent their businesses and become truly data-driven,” said Atsushi Egawa, who leads Accenture’s business in Japan.

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Cantor, Lutnick Strike Deal With Window SPAC Investors

Law 360 M&A

Shareholders of a special purpose acquisition company that took a now-bankrupt smart window manufacturer public have reached a tentative agreement to settle their proposed Delaware Chancery Court class action against Cantor Fitzgerald LP and its billionaire chair and CEO Howard Lutnick.

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Snowflake Set to Acquire Reka AI for Over $1B, Expanding Its Generative AI Offerings

Benzinga

Snowflake Inc (NYSE: SNOW ) is negotiating to buy Reka AI for over $1 billion to enhance its generative AI capabilities. Reka AI, launched in 2022 by former Alphabet Inc (NASDAQ: GOOG ) (NASDAQ: GOOGL ) Google and Meta Platforms Inc (NASDAQ: META ) researchers, specializes in large language models, which have applications ranging from image captioning to customer support chatbots.

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McDermott Adds Dechert Blockchain Ace In Calif. Offices

Law 360 M&A

McDermott Will & Emery LLP is growing its transactions team, announcing Friday it is bringing in a Dechert LLP blockchain and digital assets expert as a partner in its Orange County and Silicon Valley offices.

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Ctrl + alt + inspire: Spotlighting trailblazers in transformation

Avanade

Discover the transformative power of partnership and innovation in our latest blog post featuring insights from our visionary clients, Olivia Nadler and Liam Nicoll.

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Calif. Man Who Cooperated In $5M Insider Case Avoids Prison

Law 360 M&A

A Manhattan federal judge on Friday allowed a California information technology pro to avoid prison for his role in a $5 million insider-trading ring involving laser company Lumentum Holdings Inc.'s secret merger plans, citing his extensive cooperation with prosecutors.

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Spin-Offs: Updated IRS Guidance on Private Letter Rulings

John Jenkins

A recent memo from Gibson Dunn addresses updated guidelines obtaining private letter rulings from the IRS addressing spin-offs and related debt exchanges. Here’s the intro: The Internal Revenue Service (the “IRS”) and the Treasury Department (“Treasury”) have released Rev. Proc. 2024-24 (the “Rev. Proc.

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4 Firms Build $2.55B Sale Of Avangrid To Spain's Iberdrola

Law 360 M&A

Spanish renewable energy company Iberdrola SA and its portfolio company, sustainable energy business Avangrid, on Friday announced that they have reached an agreement for Iberdrola to take Avangrid private by purchasing the remaining issued and outstanding shares it does not already own in a $2.55 billion deal built by four firms.

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Venture Capital: Information Rights

John Jenkins

Major investors in VC-backed financings customarily obtain contractual rights to receive access to financial and certain other information from the company. In some cases, these rights include the ability to appoint an observer to attend board meetings.

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Industry 'Emboldened' After Court Greenlights Agency Attacks

Law 360 M&A

In the year since the U.S. Supreme Court said "extraordinary" and "far-reaching" attacks on administrative enforcers can skip agency tribunals and go straight to federal district court, ambitious challenges to regulatory powers are rapidly gaining traction, and the high court is poised to put them on an even firmer footing.

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Altus Group Terminates Proposed Acquisition of Situs Group's Commercial Real Estate Valuation Services Business

Benzinga

TORONTO, May 17, 2024 (GLOBE NEWSWIRE) -- Altus Group Limited ("Altus Group" or the "Company") (TSX: AIF ), a leading provider of asset and fund intelligence for commercial real estate ("CRE"), announced today that it has delivered a termination notice with respect to its previously announced acquisition of Situs Group LLC's ("Situs") commercial real estate valuation and advisory services ("REVS") business.

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Blackstone Leads $7.5B Financing For AI-Focused CoreWeave

Law 360 M&A

Artificial intelligence-focused infrastructure provider CoreWeave said Friday it had secured an agreement for a $7.5 billion debt financing facility provided by Blackstone with strategic participation from hedge fund Magnetar Capital, the co-lead investor, and tech investor Coatue.

Finance 52
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Clairvest Partners with ECL Entertainment to Acquire Wyoming Downs

Benzinga

TORONTO, May 17, 2024 (GLOBE NEWSWIRE) -- Clairvest Group Inc. (TSX: CVG ) ("CVG") today announced that it, together with Clairvest Equity Partners VI ("CEP VI", collectively "Clairvest") and ECL Entertainment, LLC ("ECL"), have acquired Wyoming Downs, a licensed live horse racing and off-track betting ("OTB") operator in Wyoming (which includes historical horse racing ("HHR") and simulcast).

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Winston & Strawn Leads Asia-Focused SPAC $100M IPO

Law 360 M&A

Shares of RF Acquisition II, a special-purpose acquisition company targeting the technology sector in Asia, began trading publicly on Friday following the company's $100 million initial public offering.