Thu.May 26, 2022

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Statement by Commissioner Lee on ESG Disclosures Proposal

Harvard Corporate Governance

Posted by Allison Herren Lee, U.S. Securities and Exchange Commission, on Thursday, May 26, 2022 Editor's Note: Allison Herren Lee is a Commissioner at the U.S. Securities and Exchange Commission. This post is based on her recent public statement. The views expressed in the post are those of Commissioner Lee, and do not necessarily reflect those of the Securities and Exchange Commission or the Staff.

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Broadcom To Acquire VMware In $61B Deal: What Investors Need To Know

Benzinga

Broadcom Inc (NASDAQ: AVGO ) on Thursday announced it will acquire Vmware Inc (NYSE: VMW ) in a cash-and-stock transaction that values the multi-cloud company at approximately $61 billion. What To Know: VMware's multi-cloud portfolio spans application modernization, cloud management, cloud infrastructure, networking, security and more. Following the closing of the transaction, the Broadcom Software Group will rebrand as VMware and incorporate Broadcom's existing infrastructure and securi

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Statement by Commissioner Peirce on ESG Disclosures Proposal

Harvard Corporate Governance

Posted by Hester M. Peirce, U.S. Securities and Exchange Commission, on Thursday, May 26, 2022 Editor's Note: Hester M. Peirce is a Commissioner at the U.S. Securities and Exchange Commission. This post is based on her recent public statement. The views expressed in this post are those of Ms. Peirce and do not necessarily reflect those of the Securities and Exchange Commission or its staff.

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Sports-Focused SPAC Leads 2 IPO Filings Totaling $350M

Law 360 M&A

A sports and entertainment focused blank-check firm, whose board of directors includes former NBA star Magic Johnson and a former Disney executive, was among two special-purpose acquisition companies to file initial public offerings Thursday for a combined $350 million.

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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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Statement by Chair Gensler on ESG Disclosures Proposal

Harvard Corporate Governance

Posted by Gary Gensler, U.S. Securities and Exchange Commission, on Thursday, May 26, 2022 Editor's Note: Gary Gensler is Chair of the U.S. Securities and Exchange Commission. This post is based on his recent public statement. The views expressed in the post are those of Chair Gensler, and do not necessarily reflect those of the Securities and Exchange Commission or the Staff.

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FCC Seeks Public Input On Telecom Merger Compliance

Law 360 M&A

The Federal Communications Commission has opened a trio of public dockets to track how well Verizon is meeting its commitments after merging with TracFone and for two other high-profile deals involving T-Mobile and Dish.

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Kwasi Kwarteng to review French billionaire’s BT stake over security concerns

The Guardian M&A

Business secretary intervenes after biggest shareholder Patrick Drahi raised stake in UK telecom giant to 18% The business secretary has used new government powers on national security to intervene in a potential takeover of BT by its biggest shareholder, the French billionaire Patrick Drahi. BT said Kwasi Kwarteng would investigate the move by Drahi’s telecoms group Altice, after it increased its stake in BT from 12.1% to 18% in mid-December.

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Musk, Twitter Hit With Investor Suit Over Buyout Balk

Law 360 M&A

Elon Musk and Twitter Inc. have been hit with a proposed shareholder class action alleging that the billionaire tried to create doubt about his planned deal to buy the social media company in order to do so at a lower price, causing Twitter's valuation to drop by $8 billion.

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What we learned about the future of work at Microsoft Build

Avanade

At Microsoft Build, Avanade reflects on its work with GLP Investment Management and how combining business processes and automated workflows with collaborative apps can help create people-first experiences.

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Agencies Finalize Form 5500 Revisions for Multiple Employer Plan Reporting

ThomsonReuters

Final Forms Revisions: Annual Information Return/Reports, 26 CFR Part 301; 29 CFR Part 2520; 29 CFR Part 4065, 87 Fed. Reg. 31133 (May 23, 2022). Available at [link]. The DOL, IRS, and PBGC have announced revisions to Forms 5500 and 5500-SF that apply to reporting for plan years beginning on or after January 1, 2022. The revisions finalize some of the changes proposed by the agencies in September 2021 (see our Checkpoint article ) to reflect Code and ERISA amendments made by the Setting Every

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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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Why Elon Musk Says He's Concerned Twitter May Have More Skeletons In The Closet

Benzinga

Elon Musk continues to remain skeptical of Twitter, Inc. (NYSE: TWTR ) integrity. The Tesla CEO also appears to subscribe to idea of Twitter changing its business model to overcome its challenges. What Happened: Musk agreed with a Twitter user's suggestion that a subscription model would work well for the company. This, according to the user, would prevent the platform from treating users as products.

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What will it take to boost Latino economic power?

Mckinsey and Company

McKinsey research reveals interventions that can help boost Latino participation in the US economy and strengthen the nation’s economic performance overall.

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IRS Announces Tax Relief for Leave Donations to Aid Victims of the Further Russian Invasion of Ukraine

ThomsonReuters

IRS Notice 2022-28 (May 19, 2022). Available at [link]. The IRS has announced special tax relief for leave-based donation programs set up by employers to aid victims of the “further Russian invasion of Ukraine” that began on February 24, 2022. Under a leave-based donation program, an employer may permit its employees to give up their vacation, sick, or personal leave in exchange for cash payments by the employer to charitable organizations.

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Canada's Telus Withdraws Its $830M Bid For Australia's Appen: Reuters

Benzinga

Telus International (TSX:TIXT) (NYSE: TIXT ) made and then unexpectedly withdrew a A$1.2 billion ($830 million) acquisition offer for Australian rival Appen Ltd (OTC: APPEF ), Reuters reported citing Appen. "Telus informed us that they were revoking their Indicative Proposal. No reasons were given," the Australian software seller stated. On Thursday, trading in Appen's shares.

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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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Alston & Bird Adds Bankruptcy Partners From Gibson Dunn

Law 360 M&A

Alston & Bird LLP announced recently that two experienced bankruptcy attorneys have joined the firm's New York office as partners to bolster its financial restructuring and reorganization group.

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Employer Violated ERISA by Interfering With Employee’s Use of Health Benefits

ThomsonReuters

Kairys v. S. Pines Trucking, Inc., 2022 WL 969595 (3d Cir. 2022). A former employee brought an employment discrimination case contending, among other things, that he was terminated in retaliation for his large medical expense claims and anticipated future use of his employer’s self-insured health plan. He argued that his employer violated ERISA § 510, which makes it unlawful to discharge, fine, suspend, expel, discipline, or discriminate against a participant for exercising a right to which he i

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Broadcom to Acquire VMware in $61 Billion Enterprise Computing Deal

NYT M&A

The resulting combination of chip company and software maker would be one of the most important suppliers of technology to the cloud computing market.

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The Evolving Audit: 4 Changes You Need to Make to Your Audit Program

N Contracts

Audits aren’t known for variability. While historically there might be a small change due to a regulatory update here and there, financial institutions typically have a relatively consistent audit program from year to year.

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Author Talks: Flex your ‘no muscle’

Mckinsey and Company

Nonpromotable work profoundly affects women’s careers and lives. In her new book, Lise Vesterlund explains why women so often agree to it—and how they can say no.

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A Push to Artificially Raise Property Values

Appraisers Blog

Now the effort is AGAIN to have ‘us’ artificially raise property values. But the push this times seems to be “only for certain people. A new press release from Class Valuation, one of the largest US based AMCs, scampered across my office threshold on 5/17/22. You can read it here in this link: Class Valuation Appoints EVP Of Valuation Modernization – NMP But if you don’t want to muddle your brain cells very much, here are the highlights: A new CV Executive Vice President has been hired to “focus

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Addressing unequal opportunity in an American city

Mckinsey and Company

Spatial inequality limits opportunities for millions of Americans. How can companies leverage their unique positions to promote sustainable, inclusive growth in the communities they call home?

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Asia Pacific Legal Market Summary And Partner Moves - May 2022

National Law Review M&A

Maggie Kwok Jurisdiction: Hong Kong China Singapore South Korea Japan Australia Type of Law: Coronavirus News Mergers & Acquisitions Financial Institutions & Banking Corporate & Business Organizations Global

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Chipmaker Broadcom to buy software group VMware for $69bn

Financial Times M&A

Takeover would help transform acquisitive semiconductor company into diversified tech business

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What Does a Bear Market Mean for RIA M&A?

Butcher Joseph & Co.

Registered investment advisor (RIA) owners who may have been considering selling prior to the double whammy of equities selling off and interest rates. The post What Does a Bear Market Mean for RIA M&A? appeared first on ButcherJoseph & Co.

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IRS Issues Proposed Regulations That Refine Estate and Gift Tax Anti-Clawback Rule

Machen McChesney

The Treasury Department, on April 26, 2022, released proposed regulations limiting the anti-clawback rule previously published on November 26, 2019. The proposed regulations – REG-118913-21 – address certain situations in which an estate could be taxed on gifts made by a donor after 2017 and before a reduction in the basic exclusion amount (BEA), wherein the gifts were free of gift tax when made.

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ABA Isn't Giving Up On Diversity Efforts By Ending CLE Rule

Law 360 M&A

While some view the American Bar Association’s elimination of continuing legal education diversity requirements as capitulating to a Florida Supreme Court decision against the mandate, it was a strategic decision to serve Florida members while improving diversity, equity and inclusion efforts in other ways, says Tiffani Lee at Holland & Knight.

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It's Time for Accountants to Embrace Fintech

Accounting Web

Trends It's Time for Accountants to Embrace Fintech.

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Let’s hope the Davos consensus is wrong again

Financial Times M&A

Plus, Glencore plots a PR campaign after pleading guilty to bribery charges and Patrick Drahi has a run-in with M&A watchdogs

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Major Reforms Proposed for UK Merger Control: What Dealmakers Need to Know

Cooley M&A

On April 20, 2022, the UK government announced wide-ranging reforms to UK competition and consumer law policy , including significant threshold changes to the UK merger control regime. In particular, while the government aims to retain the UK’s voluntary and non-suspensory merger regime, the proposed reforms plan to expand the already extensive ability of the UK’s Competition and Markets Authority (CMA) to scrutinize mergers.

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A Lawyer’s Guide to Empirical Corporate Governance

Reynolds Holding

Debates about corporate governance ultimately rest on empirical studies that evaluate whether a particular type of governance enhances shareholder value. In recent years, lawyers have increasingly engaged with these studies, by either criticizing or praising them, and given them greater publicity. Likewise, judges in cases involving corporate governance matters such as anti-takeover devices and fiduciary duties have cited those studies when assessing the consequences of different governance mech

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Broadcom broadens tech with VMware deal

Financial Times M&A

Musk loan lapses, Apple pay raise, Dyson’s household robots

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How the petrochemicals industry can benefit from advanced analytics

Mckinsey and Company

Four key elements that can help companies launch advanced analytics and machine learning programs.

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IRS Issues Proposed Regulations That Refine Estate and Gift Tax Anti-Clawback Rule

Machen McChesney

The Treasury Department, on April 26, 2022, released proposed regulations limiting the anti-clawback rule previously published on November 26, 2019. The proposed regulations – REG-118913-21 – address certain situations in which an estate could be taxed on gifts made by a donor after 2017 and before a reduction in the basic exclusion amount (BEA), wherein the gifts were free of gift tax when made.

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Where to Sell a Business

Sun Acquisitions

Where do business owners go to list their businesses for sale? If you’re wondering where to sell a small business, you’re in the right place. As seasoned M&A brokers, we’ve dealt with our fair share of buyers and sellers, and here are the top 6 places we recommend you consider selling your business. 1. Local Chamber of Commerce. Investopedia.com defines a chamber of commerce (CC) as an: “… association or network of businesspeople designed to promote and protect the interests of its members

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