Tue.Jul 11, 2023

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Market Changes and the Emergence of New Players Are Impacting Activism

Harvard Corporate Governance

Posted by Demetrius A. Warrick, Richard J. Grossman, and Neil P. Stronski, Skadden, Arps, Slate, Meagher & Flom LLP, on Tuesday, July 11, 2023 Editor's Note: Demetrius A. Warrick , Richard J. Grossman , and Neil P. Stronski are Partners at Skadden, Arps, Slate, Meagher & Flom LLP. This post is based on a Skadden memorandum by Mr. Warrick, Mr.

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Comment on Foregoing Contingencies! But What About Fiduciary Duty? by don

Appraisers Blog

In reply to Baggins. Eleven plus my grandfather bought 80 acres just outside of Bakersfield California when a grand scheme was ongoing about reserve oil for the Navy. The 80 ac’s was ugly, salty and didn’t grow anything so it must be potential oil. One of the members kept up the taxes for about 60 years, finally hiring an attorney to separate the lands into those who would pay.

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Shareholder Activism: Lessons from the First Season of Universal Proxy

Harvard Corporate Governance

Posted by Shaun J. Mathew and Daniel Wolf, Kirkland & Ellis LLP, on Tuesday, July 11, 2023 Editor's Note: Shaun J. Mathew and Daniel E. Wolf are Partners at Kirkland & Ellis LLP. This post is based on a Kirkland & Ellis memorandum by Mr. Mathew, Mr. Wolf, Edward J. Lee , and Evan Johnson. Related research from the Program on Corporate Governance includes Universal Proxies (discussed on the Forum here ) by Scott Hirst.

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Warren Buffett's Berkshire Hathaway Set For $1B Windfall Following Microsoft-Activision Deal

Benzinga

On Tuesday, Warren Buffett’s Berkshire Hathaway (NYSE: BRK ) stood to make a profit of over $1 billion following the court’s decision to allow Microsoft (NASDAQ: MSFT ) to proceed with its acquisition of Activision Blizzard (NASDAQ: ATVI ), Business Insider reports. What Happened: Berkshire Hathaway, which owned nearly 50 million shares of Activision at the end of the first quarter of 2023, is set to make a significant profit if Microsoft’s acquisition goes through at its all-c

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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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Comment on We Need a Lobbyist by don

Appraisers Blog

In reply to Mike Ford. One of my bosses yrs ago petitioned Chicago to hire a lobbyist to secure sufficient powers to operate both in our State and at the federal level. That was at a time when lobbyists had success with all branches of politician’s. A major change has come about and the pol’s are now seeking out the Corp’s, business’s and individuals in the 1970s plus the governors and the federal congress have tripled their inhouse staff. lobbyists are still out their BU

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Where The FTC Went Wrong Against Microsoft-Activision

Law 360 M&A

A California federal judge gave the Federal Trade Commission little in the way of a silver lining Tuesday by rejecting virtually every aspect of the agency's challenge of Microsoft's $68.7 billion Activision Blizzard purchase, from the alleged facts of video game distribution to the governing legal standards.

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Sweeping changes to Medicare Advantage: How payers could respond

Mckinsey and Company

The Medicare Advantage program is undergoing its biggest shifts in more than two decades. Payers can take steps now to mount a strategic, agile response as the changes unfold.

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Nonprofit Buys 22 Newspapers in Maine

NYT M&A

The National Trust for Local News will take over five of the six daily papers in the state and 17 weeklies.

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Comment on Foregoing Contingencies! But What About Fiduciary Duty? by Baggins

Appraisers Blog

In reply to don. My grandpa bought land in texas, just a suburban lot. At the time he said there were guys stringing electric up, lots defined, and he got first dibs on a lot, title, recorded, the works. Then the developer quickly went under without building anything, land was resold without further subdividing for the most part. Seventy years later, my grandpa has a dirt lot with no access, set behind an acreage property.

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Bar Score Is Best Hiring Metric Post-Affirmative Action

Law 360 M&A

After the U.S. Supreme Court's ruling striking down affirmative action admissions policies, law firms looking to foster diversity in hiring should view an applicant's Multistate Bar Examination score as the best metric of legal ability — over law school name or GPA, says attorney Alice Griffin.

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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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What's Going On With Activision Blizzard Stock Tuesday?

Benzinga

Activision Blizzard, Inc (NASDAQ: ATVI ) stock is trading higher by over 10% Tuesday after Microsoft Corp (NASDAQ: MSFT ) won a court permit to move forward with its $69 billion deal to buy Activision. The decision by Judge Jacqueline Scott Corley in San Francisco means Microsoft could close its merger with Activision ahead of a July 18 deadline everywhere except for the U.K., which vetoed.

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Coal Ash Co. Investor Sues In Del. For Details On Sale Plan

Law 360 M&A

A stockholder of power plant coal ash manager Charah Solutions Inc. sued the company in Delaware's Court of Chancery Tuesday, seeking records on its planned $6 per share sale to private equity SER Capital Partners LLC and the role played in the deal by its controlling shareholder.

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Elevate your firms advisory services

ThomsonReuters

Facing a rise in client expectations and an increasingly complex regulatory environment , a growing number of firms are looking to transform their practice and take their advisory services to the next level. Is your firm among them? Accounting professionals have long been trusted advisors for their clients. That relationship was shifted into higher gear by the onset of the COVID-19 pandemic as many companies turned to their tax and accounting professionals to help keep their businesses afloat.

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Microsoft Bid To Close Activision Deal Clears Key FTC Hurdle

Law 360 M&A

A California federal judge refused Tuesday to impose a preliminary block on Microsoft's $68.7 billion merger with Activision Blizzard Inc. in what could seal the fate of the Federal Trade Commission challenge ahead of the deal's July 18 deadline.

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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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Court Ruling Clears Path for Microsoft to Buy Activision

NYT M&A

Microsoft also said it was negotiating changes to the deal to satisfy objections made by a British regulator, which could allow it to complete its purchase of the video game giant as soon as this month.

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Carnival Wants Bankrupt Software Co. Debt Treated As Equity

Law 360 M&A

Carnival is asking a Delaware bankruptcy judge to grant it standing to recharacterize loans made by Invictus Global Management to now-bankrupt cruise line software company DeCurtis Holdings as equity interests, saying it and other creditors were harmed by Invictus' actions.

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Tools, technology, and training aid accounting staffing challenges

ThomsonReuters

Accounting firms turn to a three-tiered approach to uncover opportunities Accounting firms are severely impacted by the dynamic post-pandemic economy. Firms are faced with the external challenges of meeting new client demands, increasing compliance pressures, and tax law changes. They are also experiencing an internal struggle to cope with the decreasing talent pool and growing need to use technology to stay efficient.

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Congress Should Curb FTC Pattern Of Consent Order Abuse

Law 360 M&A

In upcoming hearings, Congress should recognize that the Federal Trade Commission’s intrusive investigation of Twitter is part of a growing pattern of consent order abuse, which will continue to harm consumers, companies and the agency itself unless lawmakers step in, says former FTC chief technologist Neil Chilson, now at the Center for Growth and Opportunity.

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Author Talks: To nurture true potential, reimagine intelligence

Mckinsey and Company

A sociologist explores intelligence through the lens of nature versus nurture and takes a closer look at the impact of epigenetics.

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Court ruling changes the game for Microsoft’s $75bn Activision deal

Financial Times M&A

US and UK regulators could demand more concessions but investors are betting on an industry-shaping victory

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Why Some Small Businesses Are Switching to Tax-Basis Reporting

Machen McChesney

Accrual-basis financial statements are considered by many to be the gold standard in financial reporting. But with the increasing cost and complexity of today’s accounting rules — particularly the updated lease guidance that went into effect last year — some private companies are seeking a simpler alternative to U.S. Generally Accepted Accounting Principles (GAAP).

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Microsoft races for UK compromise to seal Activision deal

Financial Times M&A

Plus, Sam Altman mixes Spacs with science and the scandalous sandwich shop with unexpected ties to the Trafigura scandal

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5 Priorities for Your ESG Management Solution

Audit Board

Gartner has named ESG as one of its Top 12 Audit Plan Hot Spots for 2023. That trend is expected to continue as many new ESG regulations take effect in 2024. With this global spotlight, organizations must adjust to develop compliant ESG strategies for the future. This IDC Spotlight, sponsored by AuditBoard, The Coming ESG Reporting Imperative , educates leaders involved in ESG program management on implementing purpose-built ESG reporting.

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June 2023 SAAR

Auto Dealer Valuation Insights

The June SAAR was 15.7 million units, up 4.0% from last month and up 20.2% from June 2022. This June marks the 11 th straight month of year-over-year improvements in the SAAR, and the magnitude of the improvements has continued to grow. As we laid out in last month’s SAAR blog, inventory levels were still dismal a year ago. The SAAR reported three straight months below 13.

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Is Running a Business Right for You?

Hallmark Brokers

Every year, thousands of Americans enter the business world in order to gain financial independence and become their own boss. It’s not an easy decision to make and should be thought over very carefully. It’s also very important that you take stock of your own skills and abilities and consider whether or not you’re cut. Read more The post Is Running a Business Right for You?

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Earnings Season

Auto Dealer Valuation Insights

Quarterly earnings season kicks off this week with what is expected to be a third-straight quarterly profit drop. In 2023, U.S. stocks have defied expectations, with the S&P 500 up 15% and the Nasdaq Composite up 31% – logging its best start in the past four decades. Analysts expect companies in the S&P 500 to report a third consecutive decline in quarterly earnings; profits are projected to drop.

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Microsoft, Activision Blizzard Agree To Pause UK Appeal, Explore Solutions For $69B Deal Concerns

Benzinga

Moments after a U.S. court ruling allowing the merger to proceed, the U.K.'s Competition and Markets Authority (CMA) reached an agreement with Microsoft Corp. (NASDAQ: MSFT ) and Activision Blizzard Inc. (NASDAQ: ATVI ) to temporarily suspend their ongoing London appeal over the $69 billion merger. “We stand ready to consider any proposals from Microsoft to restructure the transaction in a way that would address the concerns set out in our final report,” a spokesperson from the C

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Why you need to provide good information when selling your business

JPAbusiness

At JPAbusiness we know that professional, credible information is key to a successful business sale. When preparing an Information Memorandum, or Business Profile, on your business, put yourself in the shoes of a potential buyer. What would you need to know before making a decision about such a significant investment? We created the JPAbusiness IM/Business Profile Checklist to help you answer that question.

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MAX Power Acquires Major Claim Block in Raglan West Lithium Camp, Quebec

Benzinga

VANCOUVER, British Columbia, July 11, 2023 (GLOBE NEWSWIRE) -- MAX Power Mining Corp. (CSE: MAXX , OTC: MAXXF , FSE: 89N)) (" MAX Power " or the " Company ") has expanded its footprint in the Raglan West Lithium Camp in Nunavik, northern Quebec, by more than 80% with the acquisition of a highly strategic block totaling 100 sq. km (247 claims) adjoining Eureka Lithium and Orford Mining.

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Colorado’s path to net-zero greenhouse-gas emissions by 2050

Mckinsey and Company

To achieve net-zero emissions by 2050, decarbonization efforts across the state will have to accelerate dramatically. The private sector will play a critical role.

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Schemes of Arrangement- SEBI Consolidates Recent Amendments

National Law Review M&A

Harshita Srivastava Nishith Desai Jurisdiction: India Type of Law: Mergers & Acquisitions Antitrust & Trade Regulation Securities & SEC Global

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EU set to clear Broadcom’s $69bn acquisition of VMware

Financial Times M&A

UK and US remain among holdouts to one of the biggest tech acquisitions as they continue to probe competition concerns

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Technology’s generational moment with generative AI: A CIO and CTO guide

Mckinsey and Company

CIOs and CTOs can take nine actions to reimagine business and technology with generative AI.

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Nuclear fission start-up backed by Sam Altman to go public

Financial Times M&A

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