Fri.Apr 28, 2023

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PA Small Businesses Get Boost from SSBCI Revolving Loan Fund

Trout CPA

The Pennsylvania State Small Business Credit Initiative (SSBCI) was established under the American Rescue Plan Act of 2021 to help small businesses access capital in response to the economic impact of COVID-19. The U.S. Department of the Treasury administers the program, but local economic development partners in Pennsylvania are implementing and administering the $246.8 million in funding via loan and equity programs.

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Four Facts About ESG Beliefs and Investor Portfolios

Harvard Corporate Governance

Posted by Stephen Utkus (University of Pennsylvania), on Friday, April 28, 2023 Editor's Note: Stephen Utkus is Visiting Scholar at Wharton Business School at the University of Pennsylvania and Fellow at the Center for Financial Markets and Policy at Georgetown University. This post is based on a recent paper by Mr. Utkus; Stefano Giglio , Professor of Finance at Yale School of Management; Matteo Maggiori , Associate Professor of Finance at Stanford University Graduate School of Business; Johan

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Economic conditions outlook during turbulent times, March 2023

Mckinsey and Company

Executives’ enthusiasm for the economy rose—and then came back to earth. Meanwhile, concerns about financial-market volatility as a risk to growth have increased.

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Weekly Roundup: April 21- 27, 2023

Harvard Corporate Governance

Posted by the Harvard Law School Forum on Corporate Governance, on Friday, April 28, 2023 Editor's Note: This roundup contains a collection of the posts published on the Forum during the week of April 21-27, 2023. The Board’s Oversight of Employee Voice Posted by Holly Fetter and Benjamin Colton, State Street Global Advisors, on Friday, April 21, 2023 Tags: employee investment , employee retention , employee voice , human resources , Oversight , strategy Anticipating Activist Attacks Posted by D

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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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PE Firm Buys Minority Stake In $23B-Valued Hub International

Law 360 M&A

Funds managed by Los Angeles-based private equity firm Leonard Green & Partners, guided by Latham & Watkins LLP, will make a "substantial" minority investment in Simpson Thacher & Bartlett LLP-steered Hub International in an agreement that implies a $23 billion enterprise valuation for the insurance brokerage, according to a Friday statement.

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US consumers send mixed signals in an uncertain economy

Mckinsey and Company

With inflationary pressures and a tight labor market, our latest Consumer Pulse Survey shows that shoppers across America are sometimes feeling and acting in contradictory ways.

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Comment on Are the Courts a Remedy for Nation’s Financial Truth-Tellers? by Amanda Rivera

Appraisers Blog

I need a good lawyer. The NC Appraisal board did an investigation on one of my reports and found me in violation of the “Board’s Rules” stating I did not provide a complete workfile. When in reality I did send a complete workfile, the NCAB just doesn’t maintain the #1 software that all appraisers use, and thus could not OPEN the workfile.

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Hyatt to Further Strengthen Position in Luxury with Plans to Acquire Mr & Mrs Smith

Business Wire M&A

CHICAGO--(BUSINESS WIRE)--Planned acquisition of global travel club platform presents opportunity for World of Hyatt loyalty program to expand and welcome even more members

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Private Equity Is Gutting America — and Getting Away With It

NYT M&A

Private equity firms make loads of money when their schemes succeed and lose very little when they fail.

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Optimism and impact at Hannover Messe 2023

Avanade

Avanade's Global Manufacturing Lead Thomas Nall shares his big takeaways from Hannover Messe 2023 - optimism and impact.

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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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How leaders can drive business growth in the Middle East

Mckinsey and Company

Companies in the Middle East are facing the headwinds of the global crisis—but out of crisis comes opportunity. Three McKinsey leaders tell us how companies can grow in this environment.

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LiveOne's Slacker To Merge With SPAC At $160M Valuation

Law 360 M&A

Music streaming and entertainment platform LiveOne said Friday it will merge its wholly owned subsidiary Slacker Inc. with a special purpose acquisition company at a pre-money valuation of $160 million.

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Ermenegildo Zegna Group Completes Acquisition of Tom Ford International and Enters Into a Long-Term License Agreement With The Estée Lauder Companies for TOM FORD FASHION

Business Wire M&A

MILAN--(BUSINESS WIRE)--Ermenegildo Zegna N.V. (NYSE: ZGN) (“Zegna Group,” the “Group,” “Zegna,” or the “Company”), owner of the ZEGNA™ and Thom Browne™ brands, today announced the completion of its acquisition of Tom Ford International LLC (“TFI”), the company that owns and operates the TOM FORD fashion business (“TOM FORD FASHION”).

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FCC's In-House Tegna Hearing Held Off Until June

Law 360 M&A

The administrative law judge reviewing two interim questions tied to Standard General's planned $8.6 billion takeover of broadcaster Tegna has ordered the proceeding held in abeyance, pending the companies' decision on the deal's fate because there's not enough time to finish the review before the merger's May termination date.

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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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Deutsche Bank/Numis: deal buttresses City’s appeal

Financial Times M&A

Stock analysts are likelier to criticise Deutsche for buying than Numis bosses for selling

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Short Message Data Challenges In E-Discovery

Law 360 M&A

As short message platforms increasingly dominate work environments, lawyers face multiple programs, different communication styles and emoji in e-discovery, so they must consider new strategies to adapt their processes, says Cristin Traylor at Relativity.

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Ideology or Antitrust? U.S. FTC and U.K. CMA Move to Block Microsoft / Activision Deal

Mogin Rubin M&A

A day after the U.K.’s Competition and Markets Authority (“CMA”) announced its decision to block Microsoft Corp.’s purchase of global gaming leader, Activision Blizzard, Inc., “over concerns the deal would alter the future of the fast-growing cloud gaming market, leading to reduced innovation and less choice for U.K. gamers over the years to come.” The next day, Activision CEO Bobby Kotick, very publicly criticized “regulators”—in particular, the CMA and FTC Chair Lena Khan—for making decisions

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Signature Bank Post-Mortems Highlight Examiner Shortages

Law 360 M&A

Signature Bank's rapid growth and slow response to regulatory concerns was the "root cause" of the fintech-friendly lender's collapse, banking regulators said Friday in a pair of reports that also acknowledged their own shortages of examiners as a core problem.

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euNetworks finalise son acquisition d’un réseau de fibre noire en Belgique

Business Wire M&A

LONDRES & BRUXELLES, Belgique--(BUSINESS WIRE)--euNetworks Group Limited (“euNetworks”), une société d'Europe occidentale spécialisée dans les infrastructures de bande passante, a finalisé sa transaction précédemment annoncée visant à acquérir la branche d'activité fibre noire d’une entreprise de service public belge (“la Branche d'activité”).

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RIA Margins: How Does Your Firm’s Margin Affect Its Value?

Auto Dealer Valuation Insights

An RIA’s margin is a simple, easily observable figure that encompasses a range of underlying considerations about a firm that are more difficult to measure, resulting in a convenient shorthand for how well the firm is doing. Does a firm have the right people in the right roles? Is the firm charging enough for the services it is providing? Does the firm have enough—but not too much—overhead for its.

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euNetworks schließt Übernahme des Dark-Fibre-Netzes in Belgien ab

Business Wire M&A

LONDON & BRÜSSEL, Belgien--(BUSINESS WIRE)--euNetworks Group Limited („euNetworks“), ein westeuropäisches Unternehmen für Bandbreiten-Infrastrukturen, hat seine zuvor angekündigte Transaktion zum Erwerb des Dark-Fiber-Geschäftszweigs eines belgischen Versorgungsunternehmens (der „Geschäftszweig“) abgeschlossen. Die Integration des rohrbasierten Netzes ist angelaufen.

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Remember Lucira Health's 30 Minute Home Test Kit? Pfizer Just Bought the Bankrupt Company Via Winning Auction Bid

Benzinga

Lucira Health Inc (OTC: LHDXQ ) has been acquired by Pfizer Inc (NYSE: PFE ) for $36.4 million through a bankruptcy auction. According to the SEC document, the asset sale closed on April 20. The company filed for bankruptcy in February, just two days before receiving FDA Emergency Use Authorization for the first over-the-counter (OTC) at-home diagnostic test to differentiate and detect influenza A and B.

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Why Should I Sell My Business?

Benchmark Report

Consider putting your company on the market for several reasons. The reasons can vary based on the stage of your business's lifecycle and what your goals for the future may be. No matter your situation, it is always a good idea to step back and look at the big picture to figure out your options.

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Microsoft/Activision Deal Questioned By UK's CMA Over Potential Price Increase For Xbox Game Pass

Benzinga

Microsoft Corp.'s (NASDAQ: MSFT ) plans to acquire Activision Blizzard Inc (NASDAQ: ATVI ) have hit a snag due to concerns raised by the U.K. Competition and Market Authority (CMA). A 400-page final report from the regulatory agency stated its main concern is that an increased library of video game content could lead to Microsoft making things more expensive for consumers.

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FCPT Announces Acquisition of a NAPA Auto Parts Property for $1.3 Million

Business Wire M&A

MILL VALLEY, Calif.--(BUSINESS WIRE)--Four Corners Property Trust (NYSE:FCPT), a real estate investment trust primarily engaged in the ownership and acquisition of high-quality, net-leased restaurant and retail properties (“FCPT” or the “Company”), is pleased to announce the acquisition of a NAPA Auto Parts property for $1.3 million. The property is in a strong retail corridor in Nebraska and is occupied under a net lease with approximately two years of term remaining.

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Unlocking Success: How to Choose the Right Business Broker for Buying or Selling Your Business

Hallmark Brokers

For many business owners, the process of buying or selling a business is a once-in-a-lifetime event. Even if you’re the type of entrepreneur who starts and sells businesses, this type of transaction does not happen every day. Because business sales aren’t a frequent occurrence, it can be hard to learn all the information you need. Read more The post Unlocking Success: How to Choose the Right Business Broker for Buying or Selling Your Business appeared first on Hallmark Brokers.

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Are New ESOP Regulations Something to Celebrate?

Gergory Caruso

Recently, the Department of Labor (DOL) committed to a regulatory process to develop new guidelines for ESOP valuations [link] This development has important implications for ESOP trustees who are responsible for ensuring that valuations are conducted properly and in compliance with DOL regulations. Key Takeaway 1: The DOL is committed to ensuring that ESOP valuations are […] The post Are New ESOP Regulations Something to Celebrate?

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Accenture Expands SAP Capabilities In Nordics Through Einr AS Acquisition

Benzinga

Accenture PLC (NYSE: ACN ) announced the acquisition of a business consulting company, Einr AS, in Norway for undisclosed terms. Einr AS offers high-volume logistics solutions through SAP technologies to optimize products flow from manufacturers to consumers in the Nordics region. The acquisition will boost Accenture's SAP supply chain and logistics capabilities and accelerate supply chain.

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Exit strategies explained

Vested

Startups – what are they heading for? Startup founders often plan for an exit , such as a merger and acquisition (M&A) or initial public offering (IPO). But exit strategies are relevant to all shareholders, including shareholders created through share schemes , as they enable them to realise the value of their shares. In this article, we will explore the main types of exit strategies available to business owners and discuss the pros and cons of each.

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MAX Power Acquires Lithium Exploration Permits, Willcox Playa, Southeastern Arizona, USA

Benzinga

VANCOUVER, British Columbia, April 28, 2023 (GLOBE NEWSWIRE) -- MAX Power Mining Corp. (CSE: MAXX ) (OTC: MAXXF ) (" MAX Power " or the " Company ") is pleased to announce its strategic entry into the American lithium sector with the acquisition of a district scale opportunity targeting lithium-rich brines and/or claystones in the ~50 sq. mile Willcox Playa in Cochise County, Arizona, approximately 200 miles southeast of Phoenix.

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The audit findings fallacy

Norman Marks

I am taking the title of today’s blog post from a comment by Richard Berry on a LinkedIn post by my friend, Richard Chambers. The post is about Richard’s latest video, Episode 3: Are follow-up audits a waste of time? I believe Richard is asking the wrong question.

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GABY To Acquire CBD Brands: Hempfusion, Sagely Naturals And Apothecanna

Benzinga

GABY Inc. (OTCQB: GABLF ) (CSE:GABY) the parent company of San Diego's Mankind Dispensary , has entered into a share purchase agreement with HempFusion Wellness Inc. (OTCEM:CBDHF) to acquire all of the issued and outstanding shares in the capital of HF's wholly-owned subsidiary Hempfusion, Inc. , the parent company of Sagely Enterprises Inc. and APCNA Holdings, LLC.

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Looks Like an Amendment, Reads Like an Amendment, Must be an Amendment

John Jenkins

At issue in S’holder Representative Services LLC v. HPI Holdings, LLC, (Del. Ch.; 4/23) was an earnout conditioned on the surviving entity signing a customer agreement with specific terms.

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Microsoft Strikes Nware Deal to Woo European Officials Over Activision Acquisition, Lyft Lay-offs Over 1K Employees, Big Oil Earnings: Top Stories For Today

Benzinga

Benzinga Playing the Regulator Game: Microsoft Strikes Nware Deal to Woo Skeptical European Officials Over Activision Acquisition Microsoft Corp (NASDAQ: MSFT ) President Brad Smith tweeted that European cloud gaming platform Nware inked a 10-year agreement to stream PC games built by Xbox on Nware's platform. After the acquisition closes, the deal also includes rights to stream Activision Blizzard, Inc's (NASDAQ: ATVI ) titles on Nware's platform.