Mon.Jun 26, 2023

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Dynamic CEO-Board Cultural Proximity

Harvard Corporate Governance

Posted by Philip G. Berger (University of Chicago), Wei Cai (Columbia University), and Lin Qiu (Purdue University) , on Monday, June 26, 2023 Editor's Note: Philip G. Berger is the Wallman Family Professor of Accounting at the University of Chicago, Wei Cai is an Assistant Professor of Business at Columbia University, and Lin Qiu is an Assistant Professor of Management at Purdue University.

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Details Of Manchester United's Imminent Sale Expected Pre-Q3 Earnings: Implications For Team And Investors

Benzinga

Manchester United PLC (NYSE: MANU ) is about to get sold. What Happened : "The results [of the sale] from a bidder perspective will already be known" by the time the football club reports earnings on June 27 , an M&A advisor tells Benzinga. The likely winner of the Manchester auction is Sheikh Jassim bin Hamad Al Thani of Qatar, who reportedly made a final bid earlier this month.

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Demonstrating Pay and Performance Alignment

Harvard Corporate Governance

Posted by Mike Kesner, Linda Pappas and Ed Sim, Pay Governance LLC, on Monday, June 26, 2023 Editor's Note: Mike Kesner is a Partner, Linda Pappas is Principal, and Ed Sim is a Consultant at Pay Governance LLC. This post is based on Pay Governance memorandum by Mr. Kesner, Ms. Pappas, Mr. Sim, and Ira T. Kay. Related research from the Program on Corporate Governance includes Pay without Performance: The Unfulfilled Promise of Executive Compensation (discussed on the Forum here ) by Lucian Bebch

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The Law360 400: Tracking The Largest US Law Firms

Law 360 M&A

The war for talent raged on into 2022 even as business in some areas began to slow, with law firms bolstering their ranks as well as their strategies for weathering the economic headwinds.

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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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Finish Strong: AI Coach Can Supercharge Your Quarterly Plan

Rhythm Systems

If you haven’t already held your planning session for the coming quarter, consider this your friendly nudge to get it scheduled as soon as possible. Despite how the first half of the year has gone for your team, now’s the time to empower your team to finish out the second half of 2023 strong.

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VCI Global Acquires 51% Stake In Software Company Cogia For $5M

Benzinga

VCI Global Ltd (NASDAQ: VCIG ) will acquire a 51% stake in Cogia GmbH for $5 million. The purchase consideration will be settled by way of issuance of new VCI Global ordinary shares to Cogia AG. Incorporated in Frankfurt am Main, Germany, Cogia. Full story available on Benzinga.

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Comment on VA Appraisal Request Form at Heart of AIR Violation Class Action by Howard W.

Appraisers Blog

In reply to Wendy Terwilliger. I really hope you get your issues resolved and that a just conclusion comes your way through the agencies you are going to contact. There is one thing you should understand that I see you don’t. Don’t worry, you’re not alone. That is, an appraiser should not have and does not have your best interests in mind., however, your realtor should.

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Key Considerations for Founders Exploring M&A as an Exit Strategy

National Law Review M&A

For founders considering a merger or acquisition as an exit strategy, finding the right acquirer is crucial, and it just takes one. A successful M&A deal just needs to close.

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Comment on Diversity, Equity and Inclusion Is Overlooked by HUD Secretary Marcia Fudge by Baggins

Appraisers Blog

HUD Secretary Fudge decided to convene a special meeting of master minds with absolutely no real diversity, equity or inclusion included.

Equity 98
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Housework: Making Onsite Inspections Easier

ISA

6/26/2023 12:00:00 AM Though some of our members have a very narrow specialty most of us are called to catalog an estate at some point. A common question many new appraisers have is how to handle an inventory that is inclusive of all the property in a home. If you haven’t taken the AF+DA course I highly recommend it before you go onsite for an estate or other job where a complete inventory is needed.

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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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Investing in middle managers pays off—literally

Mckinsey and Company

New research shows that having more top-performing middle managers leads to much better financial outcomes. Here are five actions that can set managers and their organizations up for success.

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Have Qualified Small Business Stock? Consider Section 1202 as Part of Your Estate and Trust Planning

Machen McChesney

Tax Strategist Insight For individuals seeking to minimize taxes while also transferring wealth to the next generation, the income tax benefits provided under Internal Revenue Code Section 1202 can match up well with estate planning efforts. Section 1202 permits a taxpayer other than a corporation to exclude from taxable income a specified percentage of gain – and potentially the entire gain – from the sale or exchange of “qualified small business stock” (QSBS) held for more than five years.

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The McKinsey Crossword: Generative AI | No. 134

Mckinsey and Company

Sharpen your problem-solving skills the McKinsey way, with our weekly crossword. Each puzzle is created with the McKinsey audience in mind, and includes a subtle (and sometimes not-so-subtle) business theme for you to find. Answers that are directionally correct may not cut it if you’re looking for a quick win.

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Optum To Buy Amedisys For $3.3B, Derailing Option Care Deal

Law 360 M&A

Paul Weiss-led home health provider Amedisys said Monday it has agreed to be acquired by UnitedHealth Group's Optum unit for $3.3 billion, superseding a prior merger agreement between Amedisys and Option Care Health but earning the latter company a $106 million termination fee.

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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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The Gen Z equation

Mckinsey and Company

Generation Z is coming into its own. Savvy companies will consider what differentiates these 13- to 27-year-olds—in the workplace and as consumers.

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How Attys Can Avoid Exposing Their Firms To Cyberattacks

Law 360 M&A

Attorneys are the weakest link in their firms' cyberdefenses because hackers often exploit the gap between individuals’ work and personal cybersecurity habits, but there are some steps lawyers can take to reduce the risks they create for their employers, say Mark Hurley and Carmine Cicalese at Digital Privacy & Protection.

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Private credit finds its next big target: investment grade debt

Financial Times M&A

News, analysis and comment from the Financial Times, the worldʼs leading global business publication

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Gamers Ask 9th Circ. To Let Them Join Microsoft Merger Case

Law 360 M&A

A group of gamers challenging the proposed merger between Microsoft and video game company Activision filed a petition with the Ninth Circuit Court of Appeals contesting a ruling barring them from joining the Federal Trade Commission's suit attempting to block the deal.

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Will Canary Wharf become a financial ghost town?

Financial Times M&A

Plus, a Chinese blockbuster IPO poses a $9bn dilemma for western banks and the succession question plaguing Italy’s fashion houses

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10 Years Of The 10 Biggest US Firms

Law 360 M&A

Jones Day, Morgan Lewis and Greenberg Traurig all had their taste of being No. 1 before ceding that spot to Kirkland. Watch the top 10 firms of the Law360 400 evolve from 2014 to 2023.

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Major BIWS Course Package and Price Changes Coming on June 30th, 2023 (Friday)

Brian DeChesare

We are making major changes to the main BIWS financial modeling course in a few days, which I also wanted to announce directly on this site. Effective June 30 th , 2023 (Friday), we are splitting the main financial modeling course (“Financial Modeling Mastery”) into 3 separate courses : Core Financial Modeling, Advanced Financial Modeling, and VC / Growth Equity Modeling.

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A Need To Be Big: US Law Firms Kept Feet On Gas In 2022

Law 360 M&A

The 400 largest law firms in the U.S. saw continued growth last year, outpacing 2021's headcount additions, with surges in hiring among midsize firms accounting for a meaningful portion of the increases, according to the most recent Law360 ranking.

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Arena Group Holdings Stock Rises Amid Acquisition Talks With Group Black

Benzinga

Media company Group Black is in talks to acquire a majority stake in Arena Group Holdings (NYSEAMERICAN: AREN), the publisher of more than 50 publications, including Sports Illustrated, reported The Wall Street Journal. The news of potential acquisition talks caused a surge in Arena Group Holdings' stock price in post-market trading with shares closing Monday up 12.60% at $4.11 and up 7.54% after market at.

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EU Lists Concerns On Orange's €18.6B Spanish Telecoms JV

Law 360 M&A

Europe's competition authority said Tuesday that plans for Orange SA and MasMovil Ibercom SA to combine their operations in Spain could reduce competition in the supply of mobile and internet services, a move that would risk driving up prices for customers.

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Valuing an Auto Detailing Business

Peak Business Valuation

Auto detailing is a sub-sector of the multi-billion dollar car wash industry. This sub-sector has performed very well in recent years. In the coming years, we can expect the auto detailing segment to generate over 16 percent of the car wash industry’s revenue. As such, now may be an ideal time to enter or exit the industry as an auto detailing business.

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Sysco's FreshPoint Acquires BIX Produce For Undisclosed Sum

Benzinga

Sysco Corp (NYSE: SYY ) said its specialty produce company, FreshPoint , has agreed to acquire BIX Produce , a specialty and fresh cut distributor based in Minnesota. The financial details of the transaction were not disclosed. Founded in 1930, BIX Produce primarily services a broad range of restaurant and other foodservice customers in. Full story available on Benzinga.

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Devon Energy: Diversifying into Geothermal

Valutico

Devon Energy Corporation Weekly Valuation – Valutico | June 26, 2023 Link to the valuation About the company Devon Energy Corporation, based in Oklahoma City, is a prominent player in the energy industry known for its commitment to oil and natural gas exploration and production. With a strong track record and a global presence, Devon Energy has positioned itself as a leading company in the energy sector.

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Gucci Owner Kering Buys Iconic Fragrance Brand Creed

Benzinga

Kering SA (OTC: PPRUF ) (OTC: PPRUY ) disclosed a deal to acquire high-end luxury fragrance brand Creed in cash for an undisclosed amount. The company's Kering Beauté is acquiring the business from funds backed by BlackRock Long Term Private Capital Europe and current Chairman Javier Ferrán. Creed, incepted in 1760 and serving Europe's royal families, has delivered double-digit growth and strong EBITDA margins over the past.

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Understanding the Unprecedented Changes to the Standard Operating Procedures of the SBA

Biz Equity

With the Release of SOP 50-10 7, the Small Business Administration has made a deep understanding of business valuation critical to an effective wealth management strategy for small business owners and their advisors. BizEquity's Chief Valuation Officer, Scott Gabehart , breaks down the changes and their implications.

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Xbox's Phil Spencer Vows To Keep 'Call Of Duty' On PlayStation: 'I Will Do Whatever It Takes'

Benzinga

Microsoft Corporation (NASDAQ: MSFT )'s commitment to keeping "Call of Duty" available on PlayStation consoles, even after its potential acquisition of Activision Blizzard Inc (NASDAQ: ATVI ), was reaffirmed by Xbox boss Phil Spencer during the ongoing Federal Trade Commission (FTC) trial. In court on the trial's second day, Judge Jacqueline Scott Corley reminded Spencer of his oath and questioned whether Microsoft would continue releasing "Call of Duty" on Sony Group

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What Is A Leveraged Buyout Analysis?

Benchmark Report

Leveraged Buyout (LBO) A leveraged buyout occurs when a company is acquired using a significant amount of borrowed money to cover the purchase cost. This is done so they can avoid committing large amounts of capital to an important acquisition.

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Seadrill To Sell Qatar Jack-Up Fleet to Unspecified Buyer for Undisclosed Terms

Benzinga

Seadrill Ltd (NYSE: SDRL ) stated it is in the discussion about divesting the Qatar Jack-up fleet. The company plans to sell the jack-up rigs known as the West Castor, West Telesto, and West Tucana. Also, the company intends to sell its 50%. Full story available on Benzinga.

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Marketing Your Business for Sale: How to Get the Best Deal

Sun Acquisitions

Selling a business can be daunting, especially for family-owned businesses that have been built and managed by generations. However, the effort to sell your business can be rewarding if you get the best deal. Marketing your business for sale is crucial to get a reasonable price. This blog post will discuss the different marketing strategies and methods that family business owners can use to ensure they get the best deal while selling their business.

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Nordson Acquires ARAG Group For $1B In Cash, Debt

Benzinga

Nordson Corporation (NASDAQ: NDSN ) has agreed to acquire ARAG Group and its subsidiaries in an all-cash transaction for €960 million (US$1 billion). ARAG is a global market and innovation leader in the research, production, and supply of precision control systems and smart fluid components for agricultural spraying, with headquarters in Rubiera, Italy.