Fri.Jun 24, 2022

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It Pays For Companies To Leave Russia

Harvard Corporate Governance

Posted by Jeffrey A. Sonnenfeld (Yale School of Management), on Friday, June 24, 2022 Editor's Note: Jeffrey A. Sonnenfeld is the Lester Crown Professor in the Practice of Management at the Yale School of Management. This post is based on a recent paper by Prof. Sonnenfeld, Steven Tian, Steven Zaslavsky, Yash Bhansali, and Ryan Vakil, all of the Yale Chief Executive Leadership Institute, Yale School of Management.

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Supreme Court Overturns Roe v. Wade

Law 360 M&A

The U.S. Supreme Court on Friday upheld a Mississippi abortion ban and overturned the constitutional abortion right established nearly 50 years ago in Roe v. Wade, setting the stage for a widespread rollback of abortion rights in many statehouses around the country.

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The Lessons Behind Women’s Gains in Board Leadership

Harvard Corporate Governance

Posted by Molly Stutzman, JUST Capital, on Friday, June 24, 2022 Editor's Note: Molly Stutzman is Analyst of Corporate Research at JUST Capital. This post is based on her JUST Capital memorandum. Related research from the Program on Corporate Governance includes Politics and Gender in the Executive Suite by Alma Cohen, Moshe Hazan, and David Weiss (discussed on the Forum here ); Will Nasdaq’s Diversity Rules Harm Investors?

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Why USA Truck Shares Are Skyrocketing Today

Benzinga

Logistics service provider DB Schenker has agreed to acquire all outstanding shares of USA Truck Inc. (NASDAQ: USAK ) for $31.72 per share in cash, valuing USAK at ~$435 million, including assumed cash and debt. DB Schenker is a subsidiary of Deutsche Bahn. DB Schenker aims to strengthen and expand USA Truck's presence in North. Full story available on Benzinga.com.

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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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Weekly Roundup: June 17-23 , 2022

Harvard Corporate Governance

Posted by the Harvard Law School Forum on Corporate Governance, on Friday, June 24, 2022 Editor's Note: This roundup contains a collection of the posts published on the Forum during the week of June 17-23, 2022. ESG Global Study 2022. Posted by Jessica Ground, Capital Group, on Friday, June 17, 2022. Tags: Asset management , Climate change , Environmental disclosure , ESG , Greenwashing , Institutional Investors , Risk , Surveys , Sustainability , Transparency.

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Barclays Deepens Hosuing Market Share By Acquiring Mortgage Lender Kensington For ~$2.8B

Benzinga

Barclays PLC (NYSE: BCS ) extends its reach in Britain's housing market with the acquisition of specialist lender Kensington Mortgage Company for 2.3 billion pounds ($2.8 billion), reported Reuters. Kensington is being sold by its private equity owners, Blackstone Inc (NYSE: BX ) and Sixth Street. The deal would. Full story available on Benzinga.com.

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Merck/Seagen Potential Deal Talks Pick Up Speed: WSJ

Benzinga

Merck & Co Inc (NYSE: MRK ) is pushing forward with a potential deal for Seagen Inc (NASDAQ: SGEN ), Wall Street Journal reported, citing people familiar with the matter. The Journal mentioned that the deal could be one of the largest takeovers of the year. The Wall Street Journal reported last week that Merck was in talks to buy Seagen, which would bolster the pharma giant's cancer-drug portfolio, but no agreement was imminent.

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Seven pitfalls to avoid in improving the customer experience in banking

Avanade

Many banks are getting trapped in these pitfalls when trying to match the customer experiences of retail, lifestyle, and hospitality companies.

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Eton Pharma Shares Tick Higher After Offloading Hospital Products

Benzinga

Eton Pharmaceuticals Inc (NASDAQ: ETON ) has sold its hospital products to Dr. Reddy's Laboratories SA, a subsidiary of Dr. Reddy's Laboratories Ltd (NYSE: RDY ), for $50 million. "The sale of our hospital products allows us to focus our resources on our core rare disease business, which is rapidly growing, and also provides an attractive opportunity to monetize the value we have created.

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Now's The Time To Address Archaic Law School Curricula

Law 360 M&A

With law school enrollments jumping significantly ahead of a potential recession and more students graduating than the market can absorb, law schools should turn to creative solutions to teach students how to negotiate, work with clients, specialize and use technology to practice their craft more efficiently, says University of Colorado adjunct professor Jason Mendelson.

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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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Zendesk Confirms Takeover Deal At 34% Premium; Share Prices Soar Premarket

Benzinga

Global investment firms Permira and Hellman & Friedman LLC agreed to takeover Zendesk, Inc (NYSE: ZEN ) in an all-cash transaction that values Zendesk at $10.2 billion. The purchase price of $77.50 per share implies a premium of 34% over Zendesk's closing. Full story available on Benzinga.com.

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NJ Developer Wants To Claw Back Cash From Ex-Executives

Law 360 M&A

Real estate developer National Realty Investment Advisors has filed a suit in New Jersey bankruptcy court to claw back $420,000 it alleges the company's then-CEO withdrew from its accounts before passing it on to a now-former executive facing fraud charges.

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Here's Why Zendesk Shares Are Trading Higher Today

Benzinga

Zendesk, Inc (NYSE: ZEN ) has almost reached a deal with a group of buyout firms, including Hellman & Friedman LLC and Permira, the Wall Street Journal reports. Zendesk, with a market value of ~$7 billion, was likely to strike a settlement agreement with activist investor Jana Partners LLC days after it declined to sell itself in a private-equity auction.

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NerdWallet To Acquire Consumer Debt Adviser In $120M Deal

Law 360 M&A

Personal finance company NerdWallet has announced plans to acquire On The Barrelhead Inc., which describes itself as an artificial intelligence consumer debt adviser, in a deal valued at roughly $120 million.

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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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The Importance of a Quality of Earnings Study

Auto Dealer Valuation Insights

This week, we welcome Jay D. Wilson, Jr., CFA, ASA, CBA to the Energy Valuation Insights blog. Jay is a Senior Vice President at Mercer Capital and a member of the firm’s Financial Institutions and Transaction Advisory teams. The post below originally appeared as part of an ongoing series from Mercer Capital’s Transaction Advisory team regarding the importance of quality of earnings studies in.

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2 Firms Guide ESG-Focused Blank-Check Firm's $200M IPO

Law 360 M&A

SK Growth Opportunities Corp., an ESG-focused special-purpose acquisition company, began trading Friday after it priced a $200 million initial public offering advised by Kirkland & Ellis LLP and underwriters counsel Skadden Arps Slate Meagher & Flom LLP.

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What’s the Price of Growth?

Auto Dealer Valuation Insights

In the golden age of asset intensive businesses, companies made giant capital expenditures on fixed assets and research & development to fuel long term growth strategies. In those days, economies had similar opportunities. The U.S. system of interstates, launched by President Eisenhower, is a prime example of major spending in support of long-term opportunities.

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DOJ Approves Dish And T-Mobile's Network Shutdown Deal

Law 360 M&A

The U.S. Department of Justice has signed off on an agreement between T-Mobile and Dish that updates the terms related to Dish's use of the telecommunications giant's wireless network, the companies indicated in Thursday filings with the U.S. Securities and Exchange Commission.

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Business Valuation: Valuing Employee Stock Ownership Plans

Concannon Miller

Employee stock ownership plans (ESOPs) provide tax-saving opportunities for business owners who want to cash out and transfer ownership to employees without immediately giving up control of the business. However, valuing stock held by an ESOP is an ongoing challenge for the fiduciaries who administer them, especially when the sponsoring company is privately held.

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Why Your Employees Should Know the Basics of Digital Forensics

Financial Analyst Insider

Hackers pose an enormous threat to businesses both big and small. Companies that wish to avoid these risks must be proactive in how they protect. The post Why Your Employees Should Know the Basics of Digital Forensics appeared first on Financial Analyst Insider.

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Tennessean Names Ncontracts a Top Workplace for the 2nd Year in a Row

N Contracts

BRENTWOOD, Tenn., June 23, 2022 /PRNewswire/ -- Ncontracts, the leading provider of integrated risk management solutions for the financial industry, has once again been honored with The Tennessean’s 2022 Top Workplaces in Middle Tennessee award with CEO and founder, Michael Berman, recognized as a Trusted Leader.

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Leaders In Cannabis Capital, M&A And Strategic Advisory: Meet Viridian Capital CEO Scott Greiper At Benzinga's Cannabis Conference

Benzinga

Lowered valuations for cannabis companies are leading to a shift in the way capital is raised and merger and acquisition activity is occurring in the cannabis space. In this context, cannabis investors can leverage their understanding of M&A to anticipate corporate strategic moves and profit. Fortunately, at the upcoming Benzinga Cannabis Capital Conference Sept. 13-14 in Chicago, attendees will have the opportunity to learn from the important executives of the industry, including Scott Grei

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Akin Gump Bolsters PE Team With 2 Covington Attys

Law 360 M&A

Two private equity attorneys from Covington & Burling LLP with an extensive history of working together on complex global mergers and acquisitions have joined Akin Gump Strauss Hauer & Feld LLP as partners, part of a larger push to grow the firm's private equity practice.

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Crypto Exchange FTX In Talks To Acquire Stake In BlockFi After Extending $250M Credit Line: Report

Benzinga

The Terra (CRYPTO: LUNA ) crash caused the crypto market to plummet more than 67% from its all-time high, brought about individual investors to lose billions of dollars and triggered liquidations of crypto enterprises that could not repay overcollateralized margin loans. This is where FTX , the second-largest cryptocurrency exchange in the world led by millennial billionaire Sam Bankman-Fried comes into play.

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Deploying US Discovery In Brazil Following High Court Ruling

Law 360 M&A

While the U.S. Supreme Court’s recent decision in ZF Automotive v. Luxshare may be seen as a limitation on the use of discovery in foreign proceedings, there are still many options for litigants deploying U.S. discovery abroad, which is particularly valuable in Brazil, say attorneys at Kobre & Kim.

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Fifth Circuit Denies Antitrust Remedy to Manufacturer Denied License for Standard Essential Patents

Mogin Rubin M&A

To use the cellular telephone networks, automobile manufacturers install telematic control units containing a baseboard processor that relies on 2G, 3G, and 4G cellular telephony technology patented by Nokia, Conversant, Optis, and Sharp. This technology was adopted as the industry standard by various voluntary Standards Development Organizations (“SDOs”) on the condition that each of the patentees commit to licensing the technology on fair, reasonable, and non-discriminatory (“FRAND”) terms.

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DB Schenker Taking USA Truck Private With $435M Deal

Law 360 M&A

Logistics service provider DB Schenker, led by Latham & Watkins LLP, and USA Truck, advised by Scudder Law Firm, are combining forces to expand services in a deal announced Friday featuring an enterprise value of approximately $435 million.

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A Beginner’s Guide To Real Estate Financing

Financial Analyst Insider

Real estate investing can be a tricky endeavor. There are so many variables that come into play when you’re looking for financing for a property. The post A Beginner’s Guide To Real Estate Financing appeared first on Financial Analyst Insider.

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BREAKING: 4 Firms Steer Zendesk's $10.2B Buyout By Investor Group

Law 360 M&A

Zendesk said Friday it plans to be bought by a group of investors, led by private equity firms Permira and Hellman & Friedman LLC, in a go-private deal that values the software company at about $10.2 billion, with help from four law firms.

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Is Expense Management Due for Consolidation?

Accounting Web

Trends Is Expense Management Due for Consolidation?

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New Troutman CPA-Atty Partner A 'Major Plus' For Tax Group

Law 360 M&A

Troutman Pepper has added a dual-licensed attorney-CPA as a partner in its national tax and benefits practice group in New York, the firm announced.

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The risk of losing employees

Norman Marks

One of the reasons for spiraling costs and (in some cases) degraded service is insufficient staffing. For example, economies have been hurt by a shortage of truck drivers, people to stack the shelves in the market, and more. This week, I flew home from London’s Heathrow airport. United had warned us of long lines at […].

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Snell & Wilmer Adds Rutan & Tucker Partner In Calif.

Law 360 M&A

Snell & Wilmer LLP has added a corporate and securities partner from Rutan & Tucker LLP to its Orange County office, the firm has announced.

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Proxy Contests: Deadlocked Board Requires Company Neutrality

John Jenkins

I don’t know about you, but I can’t think of many situations that would be more of a hot mess than when a deadlocked board can’t agree on a slate of nominees & both sides decide to launch a proxy contest to elect competing slates.

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