Wed.May 25, 2022

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Nosedive: Boeing and the Corruption of the Deferred Prosecution Agreement

Harvard Corporate Governance

Posted by John C. Coffee (Columbia University), on Wednesday, May 25, 2022 Editor's Note: John C. Coffee Jr. is the Adolf A. Berle Professor of Law at Columbia University Law School. This post is based on his recent paper. For public corporations, the deferred prosecution agreement (or “DPA”) has become the default rule. Whatever the crisis or scandal—foreign corrupt practices, securities fraud, opioids—the response of the public corporation is to cut a deal with the U.S.

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IVSC AGM 2022, 14-16 September, Fort Lauderdale (FL), U.S.

IVSC

The IVSC AGM is an opportunity to connect with valuation leaders and stakeholders from around the world. Our last in-person AGM took place in Singapore in 2019 and we are delighted that after such a long time, and with thanks to our AGM 2022 sponsors – the American Society of Appraisers , the Appraisal Foundation , HypZert and Taqeem – we will have the opportunity to assemble again later this year in Fort Lauderdale, Florida, USA.

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The Cost of Proxy Contests

Harvard Corporate Governance

Posted by Michael R. Levin, The Activist Investor, on Wednesday, May 25, 2022 Editor's Note: Michael R. Levin is founder and editor of The Activist Investor. Related research from the Program on Corporate Governance includes Universal Proxies by Scott Hirst (discussed on the Forum here ); The Long-Term Effects of Hedge Fund Activism by Lucian Bebchuk, Alon Brav, and Wei Jiang (discussed on the Forum here ); Dancing with Activists by Lucian Bebchuk, Alon Brav, Wei Jiang, and Thomas Keusch (dis

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A Look at the Income Approach

BVR

The Cost of Capital Professional platform provides you with a comprehensive range of tools that enable you to compute cost of equity and WACC estimates easily and effectively allowing you to determine your cost of capital with minimal fuss. The income approach is one such way to approach these valuations. What follows is a selection from a comprehensive article on the topic written by Jim Alerding.

Equity 113
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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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How big banks are responding to sustainability: BBVA and ABN AMRO

Avanade

In this blog post, Peter Barrett writes about Avanade’s research with Efma, a global financial services trade association, on what he learnt from executives at two major banks, ABN AMRO and BBVA.

Banking 98
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What's Going On With Kohl's Shares Today

Benzinga

Bidders seeking to acquire Kohl's Corp (NYSE: KSS ) are likely to make offers lower than their initial ones to reflect the market downturn, Reuters reported. The potential purchasers, including private equity firm Sycamore Partners, brand holding firm Franchise Group, J.C. Penney investors Simon Property Group, Inc. (NYSE: SPG ), and Brookfield Asset Management.

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Clearway's Energy-Global Infrastructure Partners Ink Strategic Partnership With TotalEnergies

Benzinga

Clearway Energy, Inc. (NYSE: CWEN ) (NYSE: CWEN-A ) and its renewable development partner and parent company, Clearway Energy Group LLC stated that Global Infrastructure Partners (GIP) had formed a strategic partnership with TotalEnergies SE (NYSE: TTE ) in the U.S. renewable energy sector. TotalEnergies will acquire half of GIP's interest in Clearway Group, Full story available on Benzinga.com.

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Lateral Candidate Screening Steps To Prevent Bad Behavior

Law 360 M&A

Bullying and harassment are among the root causes of stress, anxiety and substance abuse in the legal profession, so law firms should take four actions to effectively screen lateral candidates and ensure they are not recruiting individuals who could jeopardize the well-being of their people, says Michael Ellenhorn at Decipher.

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Inside the Chelsea Sale: Deep Pockets, Private Promises and Side Deals

NYT M&A

Britain’s government has cleared the sale of the Premier League soccer team. But to win approval, the new owners had to agree to a set of unusual conditions.

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How Russia Sanctions Are Affecting Compliance

Law 360 M&A

The wide-ranging sanctions and export controls that the U.S. and its partners have imposed on Russia in recent months pose complex compliance challenges for commercial operations, investments and financial transactions, even when there is not a direct or obvious nexus with Russia, say Anthony Rapa and Matthew Thomas at Blank Rome.

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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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Outgoing New Zealand Rugby President Bill Osborne on strategy and leadership

Mckinsey and Company

The outgoing president of New Zealand Rugby discusses how his Maori background and time playing for the All Blacks have shaped his business career.

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BREAKING: Biden Taps Judge Pan To Replace Jackson On DC Circuit

Law 360 M&A

President Joe Biden nominated three women to fill circuit court vacancies Wednesday, including picking U.S. District Court Judge Florence Y. Pan to replace soon-to-be Supreme Court Justice Ketanji Brown Jackson on the influential D.C. Circuit.

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Thomas S. Murphy, Broadcasting ‘Minnow’ Who Swallowed ABC, Dies at 96

NYT M&A

As the head of Capital Cities Communications, he engineered the acquisition of the TV giant. He later sold the company to Disney, at a huge profit.

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Reaching net zero—what will it take?

Mckinsey and Company

The quest for sustainability requires action on many fronts, with changes to supply networks, manufacturing processes, and business models.

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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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Risk Ahoy! What Type of Compliance Officer Are You?

N Contracts

Are you a Hopper? An Eleven? Find out with this quiz inspired by Stranger Things. Forget about which Hogwarts House you belong in. Today we tackle a much deeper question: Which character from Netflix’s hit show Stranger Things best represents your style of compliance management?

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A better way to drive your business

Mckinsey and Company

Integrated business planning is a well-known process, particularly among supply chain leaders. But in most companies, P&L owners are missing out.

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The Lex Newsletter: Twitter bankers on a knife’s edge waiting to see if fees are paid

Financial Times M&A

Social network’s shareholders are not the only ones fretting over whether Elon Musk pushes through with the deal

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Mobile wallets: Southeast Asia’s new digital life hack

Mckinsey and Company

Mobile-payment wallets have taken the Southeast Asian payments sector by storm, but where next for this groundbreaking technology? Three leaders in the field share their insights.

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Total takes 50% stake in wind and solar developer Clearway with $2.4bn deal

Financial Times M&A

French energy group makes biggest US renewables purchase yet as climate protests disrupt shareholder meeting

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Twitter Fined in Privacy Settlement, as Musk Commits More Equity for Deal

NYT M&A

Twitter did not do enough to tell its users that the personal data it had collected was used partly to help marketers target ads, the F.T.C. and Justice Department said.

Equity 72
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UK government to probe Altice’s BT stake

Financial Times M&A

Business secretary uses new ‘call-in’ powers to examine national security implications

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Twitter’s Chief Tries Staying the Course as Elon Musk Upends Plans

NYT M&A

Parag Agrawal, Twitter’s chief executive, is grappling with a takeover where nobody “would want to be in those shoes.”.

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Musk must find more cash for Twitter deal after scrapping margin loan

Financial Times M&A

Tesla chief says he will need to secure $33.5bn of equity after allowing $6.

Banking 98
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FCF Interest & Corporate Loan Monitor May 2022 published

Fox Corporate Finance

FCF Fox Corporate Finance GmbH is pleased to publish the new “FCF Interest & Corporate Loan Monitor May 2022”. FCF regularly conducts comprehensive research regarding the German corporate loan and interest market, based on publically. Read more. The post FCF Interest & Corporate Loan Monitor May 2022 published appeared first on FCF Fox Corporate Finance GmbH.

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Meet the whale of European banking

Financial Times M&A

Plus, the Spac valuation ‘someone came up with while hallucinating at Burning Man’ and the Hong Kong-based hedge fund cut off from trading equities

Banking 76
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Hyperautomation in Action: Revenue and Receivables

Audit Board

Process-level automation — also known as hyperautomation — involves the orchestrated use of multiple technologies to automate as many business and IT processes as possible. According to predictions from Gartner , McKinsey , and Deloitte , hyperautomation is one of the top technology trends of 2022. . In our Internal Audit Hyperautomation Blueprint Series , authors Brett Luis and Joe Kim explore examples of business processes typically selected for SOX and internal audit testing that contain many

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Japanese state fund considers Toshiba takeover as bid deadline nears

Financial Times M&A

JIC set to join foreign private equity groups in battle for conglomerate

Equity 98
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Aerojet Trial Closes In Delaware With Flurry Of Conflict Claims

Law 360 M&A

Tales of backstabbing, disabling conflicts and handbags costing six figures closed out a three-day trial in Delaware on Wednesday about director disputes that have fractured the board of Aerojet Rocketdyne Holdings Inc., with a vice chancellor now pushing to rule on multiple counts before a June 30 stockholder meeting.

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Wendy’s/Peltz: billionaire weighs taking a bite out of burger chain

Financial Times M&A

Fast-food company can make improvements without a take-private bid

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5 Restaurant Stocks That Could Attract Merger Or Takeover Interest Amid Wendy's-Trian News

Benzinga

A top fast food restaurant saw shares jump on rumors of a potential takeover by a leading investor. The move would follow up a busy 2021, which saw several large transactions in the space. Here’s a look at how merger and acquisition activity could shape up in the restaurant sector. What Happened: A new filing from Wendy’s Co (NASDAQ: WEN ) showed that Trian Fund Management owns 19.4% of Wendy’s with its partners.

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Nipro Corp. Pays $21M After Avoiding ICC Arbitration Award

Law 360 M&A

A Japanese medical products company paid a $21.6 million arbitral award Wednesday in a dispute over a distribution agreement with a former subsidiary, a few days after a New York federal judge threatened to sell off the company's stocks to satisfy the judgment.

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Paper filings are the IRS’s Kryptonite

Henry Horne

The IRS is a mighty institution. The other half of the two sure things in life. Death and taxes. But as mighty as it is, just like Superman it has a weakness. For IRS, that weakness is paper filings. And the IRS is buried in it. It has been a problem for quite some time … Keep Reading. The post Paper filings are the IRS’s Kryptonite appeared first on Henry+Horne.

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Delaware Justices Uphold Chancery Dismissal of Talos Suit

Law 360 M&A

The full Delaware Supreme Court unanimously upheld on Wednesday the Chancery Court's dismissal of a Talos Energy Inc. shareholder lawsuit over a $1.1 billion oil field deal, finding it "evident" that the lower court's judgment should be affirmed based on the reasoning in its October opinion.

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Why Hoegh LNG Partners Shares Are Trading Higher Today

Benzinga

Hoegh LNG Partners LP (NYSE: HMLP ) agreed to be acquired by Hoegh LNG Holdings Ltd for $9.25 per common unit for a total purchase price of approximately $167.6 million. The revised price represents an increase of $5.00 when compared to the offer of $4.25 per unit made. Full story available on Benzinga.com.

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