Thu.Sep 14, 2023

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MS40 Activist Ownership Analysis

Harvard Corporate Governance

Posted by Jonathan Ostroff, Geoffrey Weinberg, Gerry Davis, Morrow Sodali, on Thursday, September 14, 2023 Editor's Note: Jonathan Ostroff is Senior Director and Geoffrey Weinberg and Gerry Davis are Managing Directors at Morrow Sodali. This post is based on a Morrow Sodali memorandum by Mr. Ostroff, Mr. Weinberg, Mr. Davis, Tom Margadonna, Michael Verrechia , and Paul Schulman.

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LVMH’s Bernard Arnault Is the King of Luxury, but Who Is Next to the Throne?

NYT M&A

With brands like Tiffany, Dom Pérignon and Louis Vuitton, LVMH turned him into one of the world’s richest men. But with five children, he has a hard decision to make.

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Remarks by Commissioner Lizárraga before Eurofi

Harvard Corporate Governance

Posted by Jaime Lizárraga, U.S. Securities and Exchange Commission, on Thursday, September 14, 2023 Editor's Note: Jaime Lizárraga is a Commissioner at the U.S. Securities and Exchange Commission. This post is based on his recent public statement. The views expressed in this post are those of Commissioner Lizárraga and do not necessarily reflect those of the Securities and Exchange Commission or its staff.

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Improving US orthopedic care via patient-centric pathways

Mckinsey and Company

Orthopedic care is among the largest categories in US healthcare; improvements could have far-reaching positive effects. We analyze care pathways to spot opportunities for better coordination.

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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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AuditBoard Earns 2023 Great Place To Work Certification™

Audit Board

LOS ANGELES, CA - September 14, 2023 – AuditBoard , the fast-growing company that provides the leading cloud-based platform transforming audit, risk, and compliance management, has announced it has been Certified™ by Great Place To Work® for the second year in a row. The prestigious award is based entirely on what current employees say about their experience working at AuditBoard.

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Consumers are driving the transition to electric cars in India

Mckinsey and Company

As the transition to electric cars gains momentum in India, new consumer needs are emerging related to product features, charging, channel preferences, flexible ownership models, and more.

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More Trending

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Inclusive infrastructure investment: How to empower communities

Mckinsey and Company

With more than $2 trillion in federal funding entering the US economy, three steps can help governments meet the needs of communities previously excluded from federal funding implementation decisions.

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ArcStone Securities To Acquire Arcview Capital, Betting Big On Cannabis Industry

Benzinga

ArcStone Securities & Investments Corp. has officially unveiled plans to acquire the New York-based, FINRA-registered broker-dealer Arcview Capital LLC. ArcStone's subsidiary, ArcStone US Corp., is the key player in this strategic acquisition, positioning the company to redefine the financial service sector with an unparalleled emphasis on entrepreneurship and client services.

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Connecting the Dots: Unveiling the Power of Linking Individual Work to Strategic Goals

Rhythm Systems

In the intricate web of modern business, where teams are spread far and wide, and daily tasks can seem like isolated islands, the need for a unifying thread is more apparent than ever. This thread, this connection, is what weaves individual efforts into the grand tapestry of the company's strategic goals. Recognizing the importance of this connection to effective collaboration and employee engagement , Rhythm Systems introduced our new Strategy Connector – a dynamic visual tool that showcases ho

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UK chip designer Arm valued at $51 a share ahead of Wall Street IPO

The Guardian M&A

British tech firm valued at $52.3bn before highly anticipated flotation on Nasdaq by private owner SoftBank The British chip designer Arm has secured a $52.3bn (£41.9bn) valuation in its initial public offering (IPO), before its highly anticipated return to the stock market in New York on Thursday. The company, owned privately by Japanese investor SoftBank since 2016, priced its shares at $51 each and sold 95.5m shares, raising $4.87bn for Softbank.

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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 Hollywood power brokers in line for a $200mn windfall

Financial Times M&A

Plus, the litigation powerhouse that took on Argentina and Peter Orszag plots a comeback for Lazard

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Navigating the M&A Landscape: How to Maximize Return On Your Privately Held Business

Sun Acquisitions

In the ever-evolving business world, mergers and acquisitions (M&A) have become common strategies for growth and expansion. For owners of privately held businesses, successfully navigating the M&A landscape can lead to substantial returns on investment. However, the process can be complex and daunting, requiring careful planning and execution.

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Benchmark International Successfully Facilitated the Transaction Between Community Pharmacology Services Limited and FutureMeds Sp. z o.o.

Benchmark Report

Benchmark International is pleased to announce the acquisition of Glasgow-based Community Pharmacology Services ( CPS Research ) by FutureMeds. CPS Research conducts phase II-IV clinical trials and has over 30 years of clinical research experience. With a reach throughout the central belt of Scotland, the CPS team has conducted over 250 studies across a wide range of therapeutic areas and indications, such as cardiology, endocrinology, gastroenterology, gynaecology, orthopaedics, psychiatry, imm

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Abcam founder to vote against proposed $5.7bn acquisition by US Danaher

Financial Times M&A

Jonathan Milner says deal materially undervalues Cambridge-based life sciences company

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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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Small Construction Accounting–How to Get a Handle on Your Finances

Redpath

You are in business to make a profit. However, for smaller construction companies especially, visibility of your financial health can be murky when you may not have staff with expertise in construction accounting.

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IRS Temporarily Halts Processing of New ERC Claims

LaPorte

Amid a surge in new (and improper) Employee Retention Credit (ERC) claims, the IRS has put a moratorium on processing of any new ERC claims… The post IRS Temporarily Halts Processing of New ERC Claims first appeared on LaPorte.

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How to Value a Dental Practice

Peak Business Valuation

Dental practices provide dental health maintenance, surgeries, and other dental products for patients. In recent years, the dental health industry has seen healthy growth, generating over $26 billion dollars in profit. In the coming years, IBIS World expects the demand for dental services to remain steady. These conditions are ideal if you are looking to buy , grow , or sell a dental practice.

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What’s Driving RIA M&A?

Auto Dealer Valuation Insights

We first wrote about borrowing costs for RIA consolidators late last year, shortly after the Fed’s aggressive hiking cycle led to an abrupt spike in interest rates for virtually all borrowers. Since then, borrowing costs for RIA acquirers have remained roughly flat but at a level significantly elevated from 18 months ago: A year ago, our (quite natural) prediction was that a higher cost of capital.

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Vendor Risk Management Best Practices

Audit Board

The importance of robust vendor risk management, or “VRM”, practices has been illustrated by a number of cyberattacks and data breaches that have originated from vendors and gone on to significantly impact the organizations using their services. The recent MOVEit attacks were able to impact well-known brands like the BBC, British Airways, and even the Big Four accounting firms.

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Inside the Board Rooms of a $5.4 Billion Oil and Gas Merger

Auto Dealer Valuation Insights

In December 2022, I wrote about recent M&A activity in the Marcellus and Utica Shales. In a departure from our typical analysis and discussion of recent deals, this week’s Energy Valuation Insights blog takes a break from deal multiples and observes the negotiations of the $5.4 billion merger between Sitio Royalties Corp. (“Sitio”), a player in the Marcellus Shale, and Brigham Minerals, Inc.

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Big Moves In Logistics: GXO Acquires PFSweb For $181M To Expand Its Luxury & Cosmetics Offerings

Benzinga

Logistics company GXO Logistics Inc (NYSE: GXO ) has entered into a definitive agreement to acquire eCommerce order fulfillment provider PFSweb Inc (NASDAQ: PFSW ) for $7.50 per share in cash, representing an equity value of approximately $181 million. The deal price represents a premium of 50% to PFSW's last closing price of $5.01. The enterprise value is $142 million and includes PFSweb's cash balance of $39 million on June 30, 2023.

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Boutique East Coast Employment Firm Acquires Calif. Group

Law 360 M&A

Katz Banks Kumin LLP, a boutique firm known for high-profile representation of workers including Twitter whistleblowers and a staffer who brought sexual harassment claims against former New York Gov. Andrew Cuomo, has acquired the small San Francisco employment law firm Liu Peterson-Fisher LLP.

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Industrials Company GXO Logistics Announces Merger With PFSweb

Benzinga

GXO Logistics (NYSE: GXO ) has announced a merger with PFSweb (NASDAQ: PFSW ) that is expected to be completed in Q4 of 2023. Under the terms of the agreement, GXO Logistics has agreed to give PFSweb $181.00 million in cash in exchange for PFSW stock. About The Companies Involved GXO Logistics Inc is a contract logistics company. Its revenue is diversified across numerous verticals and customers, including many multinational.

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Action on planet and people depends on growth

Mckinsey and Company

Mobilizing the investment needed to complete the net-zero transition will require broad public backing and participation. Given that people living in poverty are less likely to support climate action, simultaneous efforts to improve living standards are essential, write Michael Spence, Anu Madgavkar, and Sven Smit in Project Syndicate.

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CAA’s top team eyes over $200mn payout in Pinault deal

Financial Times M&A

Senior managers and agents could sell shares, according to financial terms seen by the FT

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Inside Indian consumers’ embrace of electric two-wheelers

Mckinsey and Company

Today’s consumers in India prefer electric two-wheelers due to availability of multiple product choices, reliable technology features, evolving consumer buying journeys, and flexible ownership models.

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The Dialogue Between Corporations and Institutional Investors

Reynolds Holding

With (minority) shares now concentrated in the hands of a relatively small number of institutions, institutional investors are expected to play an ever-increasing role in the governance of listed companies worldwide. However, it is uncertain whether institutional investors can actually deliver on these expectations, as a number of economic and legal factors, as well as the methods of engagement and the issues covered, can influence their propensity to engage with portfolio companies.

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More useful information about cyber risk

Norman Marks

A couple of new pieces provide some interesting insights into cyber risk and the effect of the new SEC cyber disclosure rules. Matt Kelly, formerly of Compliance Week and now the editor of Radical Compliance, shares the news with us each week.

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Hipgnosis has sold some songs to itself, and that’s not even the odd bit

Financial Times M&A

We Can Merck It Out

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SEC Commissioner Speaks on Trans-Atlantic Effort to Strengthen Market Oversight

Reynolds Holding

Good evening, and thank you, Didier [Cahen, Secretary General, Eurofi], for your kind introduction and for your leadership in organizing this conference. [1] It is a pleasure to join you in this beautiful part of the world, a UNESCO World Heritage Site. This culturally and linguistically diverse region has special meaning for me. I grew up in a place called San Diego, in a Spanish-speaking home, with parents who immigrated to the United States from Mexico.

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Bridger Aerospace Acquires Ignis Technologies to Expand Wildland Fire Software Offerings

Benzinga

BELGRADE, Mont., Sept. 14, 2023 (GLOBE NEWSWIRE) -- Bridger Aerospace Group Holdings, Inc. ("Bridger" or "Bridger Aerospace"), (NASDAQ: BAER ), one of the nation's largest aerial firefighting companies, today announced that it has acquired Ignis Technologies Inc. ("Ignis") for $3 million, with an additional contingent earn-out consideration of up to $9.0 million, paid in the form of restricted shares of Bridger common stock.

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4 Firms Build $3.8B Deal For Canadian Semiconductor Co.

Law 360 M&A

Taiwanese semiconductor distributor WT Microelectronics said Thursday it reached an agreement to acquire Future Electronics, a Canadian distributor of electronic components, for an enterprise value of $3.8 billion, in a deal steered by four law firms.

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FirstService Broadens Restoration Footprint

Benzinga

TORONTO, Sept. 14, 2023 (GLOBE NEWSWIRE) -- FirstService Corporation (NASDAQ: FSV ) ("FirstService") today announced that it has recently completed three restoration tuck-under acquisitions. Terms of the transactions were not disclosed. First Onsite Restoration acquired Nashville, Tennessee-based Case Restoration Co. Founded in 2001, the company is a full-service provider of emergency water and fire mitigation, property restoration and capital improvement services throughout the Nashville metrop

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Latham, V&E Advise Vital Energy On $1.2B Oil Field Expansion

Law 360 M&A

Latham & Watkins LLP and Vinson & Elkins LLP advised Vital Energy in securing three acquisitions valued at approximately $1.17 billion Thursday, which the energy company said has the potential to add approximately 248 million barrels of oil equivalent to its arsenal, increasing its current production by 50%.

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