Tue.Sep 12, 2023

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Does ESG Crowd Out Support For Government Regulation?

Harvard Corporate Governance

Posted by Hajin Kim (University of Chicago), Joshua Macey (University of Chicago), and Kristen Ann Underhill (Cornell University), on Tuesday, September 12, 2023 Editor's Note: Hajin Kim and Joshua C. Macey are Assistant Professors of Law at the University of Chicago Law School, and Kristen Ann Underhill is Professor of Law at Cornell Law School. This post is based on their recent paper.

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Tech-powered growth: Three things growth leaders do differently

Mckinsey and Company

Growth champions are turning tech innovation into impact by focusing on growth analytics, sales productivity, and omnichannel experiences.

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2023 U.S. Regional Brief

Harvard Corporate Governance

Posted by John Galloway, Vanguard, Inc., on Tuesday, September 12, 2023 Editor's Note: John Galloway is Global Head of Investment Stewardship at Vanguard, Inc. This post is based on a publication by Vanguard Investment Stewardship. Vanguard’s Investment Stewardship team conducts proxy voting and engagement on behalf of the Vanguard-advised funds. Our approach to evaluating portfolio companies’ corporate governance practices is centered on four pillars of good corporate governance, which are used

Equity 152
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State-by-state reciprocity agreements

ThomsonReuters

Jump to: What is a reciprocal agreement between states? Which states have reciprocal agreements? Bilateral vs. unilateral agreements Do state reciprocity agreements apply to remote workers? How to manage state and local tax Do you have clients who live in one state but work in another state? If so, they may be able to lower income taxes through a state-by-state reciprocity agreement, should the agreement exist.

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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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Upcoming/New Filing: Mars Acquisition Corp. and ScanTech Identification Beam Systems, LLC

National Law Review M&A

International Trade Practice at Squire Patton Boggs Jurisdiction: All Federal Type of Law: Antitrust & Trade Regulation Corporate & Business Organizations Securities & SEC Special highlight:

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‘You need to do the math and then explain the math’: A talk with ExxonMobil’s Darren Woods

Mckinsey and Company

The chairman and CEO of the iconic oil major shares his views about misperceptions in the energy transition, the importance of taking on adversity, and why strategy needs the courage of conviction.

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More Trending

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The missing billion: Lack of disability data impedes healthcare equity

Mckinsey and Company

Addressing the absence of health data on people with disabilities is the essential first step health systems and policy makers can take to reduce care inequity and improve outcomes for this population.

Equity 94
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Navigating the Percentage-Of-Completion Method

Machen McChesney

Does your business work on projects that take longer than a year to complete? Recognizing revenue from long-term projects usually requires the use of the “percentage-of-completion” method. Here’s an overview of when it’s required and how it works.

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SoftBank Needs a Hit, and It’s Betting on Arm

NYT M&A

Softbank’s chief executive, Masayoshi Son, believes the chip design company he bought in 2016 is poised to reap the fruits of the A.I. revolution.

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The one thing good business leaders do

JPAbusiness

There is no shortage of answers to the question, ‘what makes a good business leader?’ And there’s also multiple paths to becoming a good leader, from embracing natural talent and charisma, to carefully studying and emulating the approaches of others. But what if you were only allowed one answer to the question i.e. what’s one thing good business leaders do?

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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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The McKinsey Crossword: Fashion Consultants | No. 145

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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Ari Emanuel’s martial arts group TKO eyes $1bn earnings as it lists in New York

Financial Times M&A

Combination of World Wrestling Entertainment and UFC takes aim at growing global fans

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Redbox Class Suit Brands Apollo Global Sale Terms Unfair

Law 360 M&A

A Redbox Entertainment Inc. shareholder sued former controller Apollo Global Management LLC in Delaware's Court of Chancery, accusing the private equity firm of siphoning cash from the company, taking it public and then engineering a sale that diluted public investors while shielding it from liability.

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Poundland moves to buy 71 Wilko sites with possible jobs guarantee for staff

The Guardian M&A

PwC says owner plans to reopen stores under Poundland brand throwing lifeline to as many as 1,800 staff Poundland is to acquire up to 71 Wilko sites that it intends to reopen under its own brand in a deal that could throw a lifeline to some of the 1,800 staff who will lose jobs connected with those outlets. Under the deal struck by the administrators PricewaterhouseCoopers (PwC) with Poundland’s parent company, Pepco, the sites will be acquired only after all 408 Wilko stores are shut and more t

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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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Smurfit chief defends switching main listing to New York after WestRock deal

Financial Times M&A

Irish group’s tie-up with US rival will create world’s largest packaging company

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Agencies' Amgen Settlement Won't Protect Competition in Drug Industry

Mogin Rubin M&A

The Federal Trade Commission and attorneys general from six states – California, Illinois, Minnesota, New York, Washington, and Wisconsin – joined in heralding news of an agreement that gives the green light to drug giant Amgen Inc.’s nearly $29 billion acquisition of Horizon Therapeutics plc. However, the conditions of the settlement do little to safeguard competition in the vitally important pharmaceutical industry.

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72% of Banks and Credit Unions Prioritize Compliance When Evaluating Fintechs, According to Ncontracts Survey

N Contracts

BRENTWOOD, Tenn., September 12, 2023 -- Ncontracts , the leading provider of integrated compliance and risk management solutions to the financial industry, revealed today that 72% of banks and credit unions are prioritizing compliance when evaluating fintechs, citing it as their top criteria in the due diligence process.

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Valuation Multiples for a Cleaning Company

Peak Business Valuation

Businesses in the cleaning industry provide cleaning services for buildings, houses, aircraft, and other transportation equipment. In recent years, the cleaning industry has seen healthy growth, generating over $90 billion dollars in revenue. This is a result of various factors such as increasing corporate profit as well as an increased disposition to maintain clean work and living spaces.

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September Regulatory Update: The CFPB and 1071 plus lots of enforcement news

N Contracts

Summer is coming to a close, but attention on the CFPB and Section 1071 is heating up. August also brought a RESPA enforcement action against a mortgage company, a fair lending settlement courtesy of the Department of Justice, and a big fine for banks that aren’t communicating on official channels. Plus, the latest crypto regulation.

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How To Earn $500 A Month From Smucker Stock After Acquisition News

Benzinga

The J. M. Smucker Co. (NYSE: SJM ) announced plans to acquire Hostess Brands (NASDAQ: TWNK ) for $34.25 per share, implying a total enterprise value of $5.6 billion. Hostess, founded in 1930, has been through two Chapter 11 bankruptcies. The company was bought out of liquidation a decade ago by two investment companies and then returned to the public market in 2016 with the ticker TWNK.

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You Can’t Spend the Same Dollar Twice

Auto Dealer Valuation Insights

In our conversations with family business managers, directors, and shareholders, one of the common themes we discuss is the role of capital allocation in shaping investment returns for family shareholders. In large, multi-generation family businesses with dozens of family shareholders, we often observe the existence of multiple “clientele” within the shareholder base.

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Phorcys Capital Partners Announces Latest Acquisition: A Georgia-Based Upscale Senior Housing Facility

Benzinga

ALPHARETTA, Ga., Sept. 12, 2023 (GLOBE NEWSWIRE) -- Phorcys Capital Partners, LLC ("PCP") announced its recent acquisition of a seniors housing property located in Greensboro, Georgia. PCP was previously the supermajority creditor on the municipal bonds issued to finance the construction of the project. The facility, known as "The Glen at Lake Oconee Village," consists of 114 units, providing independent living, assisted living, and memory care services.

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Mercer Capital Sponsoring the 2023 Annual Meeting of the Association of Trust Organizations

Auto Dealer Valuation Insights

Mercer Capital is a proud sponsor of the Association of Trust Organizations’ 2023 Annual Meeting. Matthew R. Crow, CFA, ASA, Brooks K. Hamner, CFA, ASA, and Zachary W. Milam, CFA are attending the meeting in New Orleans, Louisiana on September 16 – 19, 2023. Matt is CEO of Mercer Capital and leads the firm’s investment management industry team.

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Why Microcap Biotech Firm Avalo Therapeutics Stock Is Trading Higher Today?

Benzinga

Avalo Therapeutics Inc (NASDAQ: AVTX ) shares are trading higher after the company agreed to sell its rights, title, and interest in assets relating to AVTX-801 (D-galactose), AVTX-802 (D-mannose) and AVTX-803 (L-fucose) to AUG Therapeutics. AUG will pay an upfront payment of $150,000, as well as, for each compound, make a contingent milestone payment of $15 million (for a potential aggregate of $45 million) if the first FDA approval is.

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Five Key Findings From the 2023 Protiviti SOX Compliance Survey Report

Audit Board

While boards and executive teams typically don’t see SOX compliance as an opportune area for innovation, a growing number of organizations are investing in automation and advanced technology tools to support their SOX activities — with great value-added benefits. Protiviti’s 2023 SOX Compliance Survey report, The Evolution of SOX: Tech Adoption and Cost Focus Amid Business Changes, Cyber, and ESG Mandates , explores how technology is transforming SOX compliance in over 500 organizations in the f

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Materials Company Smurfit Kappa Group Announces Merger With WestRock

Benzinga

Smurfit Kappa Group (OTC: SMFKY ) has announced a merger with WestRock (NYSE: WRK ) that is expected to be completed in Q2 of 2024. Under the terms of the agreement, Smurfit Kappa Group has agreed to give WestRock $20.00 billion in cash & stock in exchange for WRK stock. About The Companies Involved Smurfit Kappa Group PLC manufactures and sells paper-based packaging products.

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New Protiviti Survey Finds Companies Prioritizing Enabling Technology for SOX Compliance

Audit Board

Audit and finance leaders are investing in automation and advanced technology tools with continued PCAOB pressures and ESG and Cyber disclosure mandates as a backdrop. MENLO PARK, CA - September 12, 2023 – The fourteenth annual Sarbanes-Oxley (SOX) Compliance Survey , conducted by global consulting firm Protiviti, finds that 74% of organizations are seeking opportunities to further enable automation, while 58% reported an increase in hours spent on SOX compliance in the last year.

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EuroDry Sets Sail For Expansion: Acquires Three Ultramax Bulkers In $65M Deal

Benzinga

Drybulk vessels operator EuroDry Ltd (NASDAQ: EDRY ) has agreed to acquire three Ultramax bulkers for a total price of about $65 million. The vessels include M/V Giants Causeway, a 63,197 dwt drybulk vessel built in 2015, M/V Sadlers Wells, a 63,153 dwt drybulk vessel built in 2015 and M/V Gallileo, a 63,177 dwt drybulk vessel built. Full story available on Benzinga.

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Italian sell-offs: state will keep fingers in many pies

Financial Times M&A

But we are firmly in the realm of tinkering while Rome burns

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Lucy Scientific Gears Up For Global Wellness Via Acquisition, On Heels Of High Times News

Benzinga

Canadian drug development company Lucy Scientific Discovery Inc. (NASDAQ: LSDI ) is set to acquire e-commerce platform and plant-based wellness brands company BlueSky Wellness Inc. toward further entering the global wellness market with novel psychotropic products. Last week, Lucy announced it was acquiring High Times Holding's IP, effectively enabling the iconic cannabis industry brand to trade on the Nasdaq.

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How Competitive Pressure Shapes Firms’ ESG Performance

Reynolds Holding

In the face of competitive pressure, is there a trade-off between a company’s financial performance and its commitment to environmental, social, and governance (ESG) activities? Is ESG a source of competitive advantage, or do managers simply spend other people’s money on sustainability to become “good”? In a new paper, we seek to answer those questions by looking at the impact of domestic product-market competition and foreign-import competition on companies’ ESG scores Numerous academic studies

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Agencies' Amgen Settlement Won't Protect Competition in Drug Industry

National Law Review M&A

Timothy Z.

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Second Leading Independent Proxy Advisory Firm Glass Lewis Recommends Paratek Pharmaceuticals Stockholders Vote FOR the Acquisition by Gurnet Point Capital and Novo Holdings A/S

Benzinga

BOSTON, Sept. 12, 2023 (GLOBE NEWSWIRE) -- Paratek Pharmaceuticals, Inc. ("Paratek") (NASDAQ: PRTK ), a commercial-stage biopharmaceutical company focused on the development and commercialization of novel therapies for life-threatening diseases and other public health threats, today announced that a second leading independent proxy advisor Glass, Lewis & Co.

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California’s Recent Proposed Regulations Include Significant Requirements for Health Care Transactions

National Law Review M&A

Ron S.

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