Wed.Feb 08, 2023

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Your Trade Has Been Under Assault for Years!

Appraisers Blog

Your trade has been under assault for years. The de minimus rule was the first I sensed of the end of your trade. I am going off of vague memory but I think it was 1997, and at the time, the near majority of my town was below the $250,000 threshold, as were 90% of the towns adjacent. I remember an old horse telling me the handwriting was on the wall for him and his kind.

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?Mergers and Acquisitions—2023

Harvard Corporate Governance

Posted by Victor Goldfeld, Mark Stagliano, and Anna D’Ginto, Wachtell, Lipton, Rosen & Katz, on Wednesday, February 8, 2023 Editor's Note: Victor Goldfeld and Mark Stagliano are Partners and Anna D’Ginto is an Associate at Wachtell, Lipton, Rosen & Katz. This post is based on a Wachtell memorandum by Mr. Goldfeld, Mr. Stagliano, Ms. D’Ginto, Adam O.

Finance 173
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Trending Sources

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Investing in a net-zero economy: Scaling blended finance

Mckinsey and Company

The scale of financing required for the transition to net zero is immense and the current financial gap substantial, making it vital to rapidly increase blended finance.

Finance 119
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CVS/Oak Street: acquisition will take time to pay off

Financial Times M&A

Pharmacy chain hopes deal for primary care centre operator will speed up push into other parts of US healthcare

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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’s Activision Blizzard acquisition will harm UK gamers, says watchdog

The Guardian M&A

CMA says Xbox maker’s takeover of Call of Duty and World of Warcraft owner could lead to higher prices The UK’s competition regulator has ruled that Microsoft’s $68.7bn (£59.6bn) deal to buy Activision Blizzard , the video game publisher behind hits including Call of Duty, will result in higher prices and less competition for UK gamers. The Competition and Markets Authority (CMA), which launched an in-depth investigation in September after raising a host of concerns about the biggest takeover in

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Treasury, IRS Release Additional Information on Clean Vehicle Provisions of Inflation Reduction Act

Machen McChesney

The U.S. Treasury Department and the IRS, on December 29, 2022, released information on the clean vehicle provisions of the Inflation Reduction Act. The new guidance provides greater clarity to consumers and businesses that, beginning January 1, 2023, are able to access tax benefits from the law’s clean vehicle provisions.

More Trending

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How Asian banks can regain the cross-border payments crown

Mckinsey and Company

To retake a leading position in regional cross-border payments, Asian banks need to focus on growth areas, provide differentiated services, and update their operating models to match fintechs.

Banking 98
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Bayer appoints Roche veteran Anderson as chief executive

Financial Times M&A

He will replace embattled boss Baumann who has faced criticism from disgruntled investors

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How Companies Evaluate Their Corporate Governance

Reynolds Holding

Practitioners and academics alike debate best practices in corporate governance, but rarely do companies reveal how they determine what governance practices work best for them. In a new paper , we report the results of interviews on this topic with 29 chief audit executives (CAEs) from U.S. publicly traded companies. CAEs are in a unique position to evaluate corporate governance, most often reporting administratively to the CEO or CFO and functionally to the audit committee.

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Logistics Disruptors: Flexe’s Karl Siebrecht on battling uncertainty with flexible logistics

Mckinsey and Company

Flexe’s CEO explains how the logistics provider uses technology to create flexible warehousing, fulfillment, and distribution to help companies meet the ongoing demand for logistics solutions.

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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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UK regulator deals blow to Microsoft’s $75bn Activision deal

Financial Times M&A

Competition and Markets Authority says tie-up could lead to higher prices and less choice

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Confidentiality is Vitally Important When Selling a Business

A Neumann & Associates

By Michael McEntee, Managing Director During a successful business transfer, confidentiality must be of paramount importance to the seller. All of the processes, recipes, formulas, contacts, and other sensitive information (the very foundation of a company’s achievements and profitability) will, at some point, need to be disclosed. This can also include knowledge that an aggressive competitor has been trying to obtain for as long as a business has been in existence.

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Cosmetics Co. Gets OK For $690M Bid, Ariana Grande Deal

Law 360 M&A

A Delaware bankruptcy judge Wednesday gave cosmetic brand developer FB Debt Financing Guarantor the go-ahead to put its assets on the block with a $690 million stalking horse bid, except for the assets being sold to end a contract dispute with singer Ariana Grande.

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Microsoft and Activision refuse to give up the game

Financial Times M&A

Plus, the Rothschilds mount their take-private bid and the FT examines FTX’s star-studded list of investors

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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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Solidifying Risk Management: How to Get Started With Continuous Monitoring

Audit Board

Many risk and audit professionals are intimidated by continuous risk monitoring. In surveys, at conferences, and in casual conversation, the majority of internal auditors and risk managers will admit the truth: They feel like they don’t know how to do it, or even where to start. This uncertainty and lack of confidence leave them inclined to keep their heads down, avoid the topic — and miss critical opportunities for monitoring and responding to risk.

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Toshiba receives $15bn buyout proposal from private equity group

Financial Times M&A

Japan Industrial Partners pitches country’s biggest take-private deal

Equity 74
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DOJ Withdraws Key Healthcare Antitrust Enforcement Guidance: Where to Go From Here?

National Law Review M&A

Kelly A. Leahy Joseph D.

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PARAMETERS UPDATE P5.6

Equidam

On February 23, 2023 you’ll be upgraded to the latest version of Equidam with updated valuation parameters. This may result, on average, in a slight valuation decrease. What’s changing 1 | Average valuations used in the Scorecard Method and maximum valuations used in the Checklist Method We base our estimates on real transactions by country since February 1st, 2020.

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What's the Fastest Path to Value-Capture in Integration?

M&A Leadership Council

You've probably felt the crunch caused by the current economic climate, which has led to corporate development and integration leaders being challenged like never before: Boards and executive committees are more cautious Cost of capital is dramatically higher Regulators are applying greater scrutiny to large deals Revenue and cost synergy plans have less tolerance for slippage and more urgency attached Essentially, the directive is to "do integration better, faster, leaner” so you can achieve

Banking 52
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Enterprise TPRM Leaders Specify Third-Party Risk as a Critical Priority

Audit Board

With third-party breaches continuing to escalate in velocity and impact, it’s no longer enough to secure internal assets; organizations must be doubly sure any sanctioned entity with network permissions does not become an unwitting conduit for malicious activity. Managing third-party and supply chain threats remains a daunting task, according to new research from CyberRisk Alliance Business Intelligence, which gauged companies’ understanding, interest, and investments in managing third-party ri

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Refined Metals Corp Announces the Acquisition of the Horizon South Property in Tonopah, Nevada

Benzinga

VANCOUVER, British Columbia, Feb. 09, 2023 (GLOBE NEWSWIRE) -- Refined Metals Corp. (CSE: RMC ) (OTC: RFMCF ) (FRA: CWA0) (the " Company " or " Refined ") is pleased to announce that it has entered into a property option agreement (the "Option Agreement") with Horizon South Lithium Corp. (the " Vendor ") pursuant to which the Company has been granted the right to acquire a 100% interest in the Horizon South Lithium Property (the " Property ").

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In defence of diversification

Financial Times M&A

In a crisis, will universal banks do better?

Banking 52
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“In God we trust; all others bring data”: A Due Diligence Survival Guide for Sellers

Exit Strategy

“In God we trust; all others bring data” is a famous quote from W. Edwards Deming that emphasizes the importance of data analysis in business decision making. The due diligence process is a critical part of every M&A transaction, and in today’s data-driven world, having relevant and accurate company data has never been more important.

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Holland & Knight Adds Emerging Biz Pro From Goodwin In LA

Law 360 M&A

Holland & Knight LLP has hired a former Goodwin Procter LLP partner to co-lead its emerging companies and venture capital practice.

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Benchmark International Successfully Facilitated the Transaction of Nationwide Express to Jones Logistics

Benchmark Report

Benchmark International is pleased to announce the transaction of Nationwide Express to Jones Logistics.

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Inflation Reduction Act: Costs and Benefits for Real Estate & Construction

Trout CPA

Introduction The Inflation Reduction Act’s (IRA’s) expansion of key energy efficiency tax incentives – such as the 179D energy efficient commercial buildings deduction and the 45L new energy efficient home credit – is anticipated to have a significant impact on real estate and construction industry. The legislation could provide a significant financial boost for firms looking to utilize environmentally conscious building materials and practices, potentially ushering in a new wave of progress in

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Valuing an Optometry Business

Peak Business Valuation

The eye care industry is growing. The population is aging, incomes are increasing, and there is rising awareness of the importance of eye health. Despite economic changes , this industry remains steady. According to IBIS World, about 75 percent of the adult population needs corrective eyewear. The steadiness of the industry is appealing if you are looking to buy an optometry business.

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CVS Deal To Buy Oak Street At $39 Per Share Brings Arbitrage Opportunity, Says StoryTrading's Rabizadeh

Benzinga

Healthcare giant CVS Health Corp. (NYSE: CVS ) announced on Wednesday a definitive agreement to buy primary healthcare provider Oak Street Health Inc. (NYSE: OSH ). What Happened: CVS said it would buy Oak Street in an all-cash deal valued at $39 per share, representing an enterprise value of about $10.6 billion. This per-share price represents a 15.8% premium over the target company’s closing price of $33.68 on Tuesday.

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Benchmark International's Kayla Sullivan Honored Among America's Rising Star Dealmakers

Benchmark Report

Benchmark International’s Kayla Sullivan has been named one of America’s Rising Star Dealmakers by the Global M&A Network. Their 5 th Annual Networking Recognition Ceremony was held in New York City at a luncheon on January 19, 2023.

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CVS Health Inks Final Deal To Acquire Oak Street Health, Forecasts 2025 EPS Outlook Of $10

Benzinga

CVS Health Corp (NYSE: CVS ) agreed to acquire Oak Street Health (NYSE: OSH ) in an all-cash transaction at $39 per share, or approximately $10.6 billion. Oak Street Health is a multi-payor, value-based primary care company, employing approximately 600 primary care providers and has 169 medical centers across 21 states. Related: CVS Health Continues M&A Spree, As It Is Close To $10B Bet For Oak Street Health "Combining Oak Street Health's platform with CVS Health's unmatched rea

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Microsoft's $69B Activision Deal Could Harm Gamers, UK Says

Law 360 M&A

The proposed $68.7 billion takeover by Microsoft Corp. of Activision Blizzard Inc. could result in British gamers paying higher prices and seeing fewer choices and less innovation in their console and cloud gaming, the U.K.'s competition watchdog said Wednesday.

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Qatari Investors Poised To Make Substantial Bid For Manchester United In Coming Days

Benzinga

Manchester United plc (NYSE: MANU ) is reportedly set to receive a mega-money takeover offer from Qatari investors, who would hand Erik ten Hag a massive transfer war chest if they complete a deal to buy the club. According to the Daily Mail , a group of private, high-wealth individuals in Qatar wants to buy United as they view the club as 'football's crown jewels.' "There are significant funds available," sources told the publication.

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Euronav's Failed $4B Merger Sunk By Emergency Arbitration

Law 360 M&A

An emergency arbitrator has dismissed a claim by Euronav NV against a Bermuda-based rival for terminating a $4 billion merger agreement between the two crude oil shippers.

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ECGI To Acquire East West Pharma Group

Benzinga

ECGI Holdings Inc. (OTCPK:ECGI), D/B/A Elite Cannabis Group Incorporated , a Nevada-based portfolio company pivoting into the legal cannabis and cannabinoid marketplace, signed a letter of intent with East West Pharma Group, Inc. , a Wyoming corporation, outlining the terms under which ECGI will acquire the key personnel, intellectual property, and current and future business operations of EWPG.