Mon.Sep 25, 2023

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2023 Corporate Governance developments

Harvard Corporate Governance

Posted by Melissa Sawyer, Lauren S. Boehmke and Marc Treviño, Sullivan & Cromwell LLP, on Monday, September 25, 2023 Editor's Note: Melissa Sawyer , Lauren Boehmke , and Marc Treviño are Partners at Sullivan & Cromwell LLP. This post is based on a Sullivan & Cromwell memorandum by Ms. Sawyer, Ms. Boehmke, Mr. Treviño, Susan M. Lindsay , June Hu , and H.

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IVAS-IVSC Business Valuation Conference 2023

IVSC

Unlocking the Future of Business Valuation: Embracing Shifts and Innovation — Join the IVAS-IVSC Business Valuation Conference in Singapore! In today’s dynamic global business environment, marked by constant change and driven by geopolitical tensions, disruptive technology, and climate challenges, the valuation of companies has never been more critical.

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‘Killer Acquisitions’ Reexamined: Economic Hyperbole in the Age of Populist Antitrust

Harvard Corporate Governance

Posted by Jonathan Barnett (USC Gould School of Law), on Monday, September 25, 2023 Editor's Note: Jonathan Barnett is a Professor of Law at USC Gould School of Law. This post is based on his recent paper forthcoming in the University of Chicago Business Law Review. Related research from the Program on Corporate Governance includes Are M&A Contract Clauses Value Relevant to Target and Bidder Shareholders?

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How AI can help tax and accounting professionals attain their goals

ThomsonReuters

Jump to: AI for firms: operational improvements and new services AI for in-house departments: protect the business and enable growth Client communication benefits through AI AI for firms: operational improvements and new services One of the main benefits of AI is the potential to improve productivity and efficiency. According to the new report, “Future of Professionals”, 59% of tax and accounting professionals working at firms cited productivity as their top priority, and 55% selecte

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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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Amazon Invests Up To $4 Billion In ChatGPT Competitor, AI Startup Anthropic

Benzinga

Amazon Inc. (NASDAQ: AMZN ) has announced a strategic investment of up to $4 billion in Anthropic , an emerging AI company, as the e-commerce giant seeks to harness the potential of artificial intelligence in diverse applications across its business. As part of this groundbreaking deal, Anthropic will leverage Amazon’s custom-designed chips to develop and rollout its AI software.

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Valuing a Closed Business for Tax Purposes

BV Specialists

When it is time to close a business and there are no realistic sale options, there are several steps needed to officially dissolve the company, so no loose ends come back to affect you in the future. One of those requirements is filing forms with the IRS and/or your state for final tax settlement purposes. Depending on the structure of your prior operation, you may need to obtain an independent business appraisal as part of this process.

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Streaming will transform video games just like Netflix shook up TV, says Ubisoft

Financial Times M&A

French group behind ‘Assassin’s Creed’ bets Microsoft cloud deal will revive its fortunes

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Comment on Mortgage Application Volume Nearing Historic Low by Baggins

Appraisers Blog

Why do the people whom supposedly find high value in the appraisal profession, continue to work with amc’s despite clearly understanding how unethical and destructive these companies are? Weird. Now a days appraisers talk nonchalantly about amc’s selecting appraisers based on fee, rather than skill, experience, and accreditation. The federal registry guidance on appraisal selection and Dodd Frank appears to be irrelevant.

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FRP Corporate Finance advises Harwood Private Equity on Vegner sale

Accountancy Today

FRP Corporate Finance has advised Harwood Private Equity on its sale of the Vegner Group, one of the UK’s leading property services businesses, to international property management group Odevo. Headquartered in Richmond, London, The Vegner Group provides property management and building surveying services to property professionals and their clients, including residential asset management companies, property owners, landlords and developers.

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Been there, doing that: How corporate and investment banks are tackling gen AI

Mckinsey and Company

Wholesale banks have vast expertise in traditional AI. It’s a sound investment that is paying off again as generative AI takes hold.

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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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Monsanto's 1971 PCB Study Had Fake Data, Seattle Jury Told

Law 360 M&A

A former employee of a laboratory that analyzed polychlorinated biphenyls for Monsanto in the 1970s told a Washington state jury in a toxic tort trial on Monday that researchers made up numbers to fill in data gaps and failed to examine the tissue of most rats that died during the toxicity study.

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Boosting Vietnam’s manufacturing sector: From low cost to high productivity

Mckinsey and Company

Manufacturing has been the nucleus of Vietnam’s exceptional growth. However, faced with complex economic, geopolitical, and technological conditions, this sector may have to reinvent itself to continue thriving.

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Scaling Success: The Signature Consultants' Journey to Becoming Dexian

Rhythm Systems

In the dynamic world of IT staffing, achieving exponential growth is no small feat. Signature Consultants, a respected IT staffing firm, embarked on a remarkable journey seven years ago, driven by the ambitious goal of doubling their company's size within the next 5-7 years, aiming to reach the $500 million milestone. Their partnership with Rhythm Systems began in 2016 when they were just embarking on this ambitious goal.

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Schlummersack Client Testimonial Video

Benchmark Report

Benchmark International facilitated the transaction between Schlummersack and empact brands. Watch as shareholder of Schlummersack, Karina Grassy, discusses her motivations for exiting the company, her experience with Benchmark International, and what she plans to do post-sale.

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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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Derivative into Direct and Waived into Preserved: The Transformative Power of the Implied Covenant of Good Faith and Fair Dealing

Farrel Fritz

The distinction between direct and derivative claims pervades business divorce litigation. Whether a dissident owner’s claim against his or her co-owners is a direct claim (one that the owner can assert in their individual capacity) or a derivative one (one that seeks to redress injury to, and therefore must be asserted on behalf of the business) factors into almost every claim we litigate, and it is one of the most common grounds for a pre-answer motion to dismiss, as this post demonstrates.

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SBA Loans for Glass and Glazing Companies

Peak Business Valuation

According to IBIS World , there are over 26,000 glass and glazing companies in the United States. Together, these businesses generate $3 billion in revenue each year. However, many glass and glazing companies have struggled to increase or retain profitability. To combat this you may consider obtaining a loan. The Small Business Administration has a variety of loan programs designed to help small business owners succeed.

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Corebridge Financial Divests UK Life Insurance Business To Focus On Core US Portfolio

Benzinga

Corebridge Financial Inc (NYSE: CRBG ) penned a deal to divest its U.K. life insurance business, operating as AIG Life Limited, to Aviva PLC (OTC: AIVAF ) for £460 million in cash. AIG Life is the life insurance subsidiary of Corebridge, which offers financial and practical support for individuals and. Full story available on Benzinga.

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Arnold & Porter Adds Ex-Hughes Hubbard Int'l M&A Partner

Law 360 M&A

Arnold & Porter announced on Monday that it has brought on a mergers and acquisitions attorney from Hughes Hubbard & Reed LLP with decades of international experience to serve as a partner.

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Regal Rexnord Plans To Sell Industrial Motors & Generators Businesses For $400M

Benzinga

Regal Rexnord Corp (NYSE: RRX ) disclosed that it has entered into a definitive agreement to sell the Industrial Motors and Generators businesses for $400 million. The asset sale comprises most of its Industrial Systems segment to WEG through certain subsidiaries of WEG SA (OTC: WEGZY ). The transaction is expected to close in H1 2024, subject to obtaining required regulatory approvals and.

Equity 52
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Reed Smith VC Chair Joins Dentons' Tech Practice In Calif.

Law 360 M&A

Dentons is growing its West Coast corporate team, announcing Monday it is bringing in a Reed Smith LLP attorney who chaired its United States emerging growth and venture capital group as a partner in its Silicon Valley office in Mountain View, California.

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The Battle Heats Up - Booking Seeks To Appeal European Commission's Decision To Prohibit Etraveli Deal

Benzinga

Online travel services provider Booking Holdings Inc (NASDAQ: BKNG ) intends to appeal the European Commission's recently announced decision to prohibit the company's acquisition of Etraveli Group from CVC Capital Partners, to the European courts. Booking Holdings said it strongly believes the Commission is wrong on both the facts of the case and the law applicable to this transaction, which was cleared unconditionally by multiple competition authorities.

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The Future of Professionals: How AI is the catalyst for reshaping every aspect of tax and accounting work

ThomsonReuters

Jump to: Key findings for tax professionals AI and internal efficiencies AI and role evolution AI and the tax profession The new Future of Professionals report examines how the combination of AI and human expertise will shape the roles, skills, and work of tax professionals in the future. The report is based on a survey of 1,200 professionals from North and South America and the UK.

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Big Moves In Orthopedics: Enovis Seals €800M Deal To Acquire LimaCorporate

Benzinga

Enovis Corp (NYSE: ENOV ) inked a deal to acquire LimaCorporate S.p.A. for an enterprise value of approximately €800 million (around $850 million). The acquisition amount includes cash consideration of €700 million and €100 million in Enovis common shares. LimaCorporate is a private global orthopedic company focused on restoring motion via a portfolio of implant solutions.

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How AI can empower tax professionals to enhance their work-life and well-being

ThomsonReuters

Jump to: Building responsibly with intentionality and purpose Driving productivity and efficiency with AI Enhancing well-being and work-life balance with AI The new report “Future of Professionals” , evaluates how tax professionals perceive the current and future role of AI in their work, and how they plan to adapt and thrive in the era of generative AI.

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MarineMax Sets Sail In Greece: Acquires Majority Interest In Charter Management Agency Atalanta Golden Yachts

Benzinga

Recreational boats and yachts retailer MarineMax Inc (NYSE: HZO ) said its wholly owned subsidiary, Fraser Yachts, has entered into a definitive agreement to acquire a controlling interest in Atalanta Golden Yachts , a charter management agency based in Athens, Greece. The financial details of the deal were not disclosed. Since 2006, Atalanta Golden Yachts has managed luxury.

Equity 52
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How AI will impact the tax profession

ThomsonReuters

Jump to: How AI can bring about change in tax professional advice New career horizons and unconventional credentials Reshaping talent, skills, and recruitment through the AI revolution Revolutionizing talent delivery through AI Artificial intelligence (AI) is a present reality that is reshaping the way tax professionals work and the value they deliver to their clients.

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Novartis Sandoz Prepares For Public Debut With Strong Sales Record And Plans for New Biologic Drugs

Benzinga

Novartis AG (NYSE: NVS ) confirmed its plans for a 100% spin-off of the Sandoz business on October 4 after shareholders approved it earlier this month. Novartis also said key regulatory approvals have been obtained, including the approval by SIX Exchange Regulation for listing the Sandoz shares on the SIX Swiss Exchange. The Sandoz shares will have the symbol SDZ, Novartis said.

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Comment on Mortgage Application Volume Nearing Historic Low by Retired Appraiser

Appraisers Blog

Per the Mortgage Bankers Association, the loan application volume is at another low point in our history forcing many appraisers to retire.

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Ex-Schnader Corporate Pro Joins Fox Rothschild In NY

Law 360 M&A

The former co-chair of Schnader Harrison Segal & Lewis LLP's business services practice has landed at the New York office of Fox Rothschild LLP as a corporate partner.

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Finfluencers and the Reasonable Retail Investor

Reynolds Holding

Existing securities laws primarily target lies. However, financial influencers, or finfluencers – people or entities with outsized influence on investor decisions through social media – need not lie in order to influence their followers. This means that finfluencers can profit off of their followers’ trading activity while steering clear of the securities laws.

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Toward net-zero emissions: Achieving Luxembourg’s sustainability ambitions

Mckinsey and Company

Luxembourg can exceed EU carbon-emission-reduction goals by doubling-down on opportunities in key private sectors.

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Does PwC understand risk management? Are they giving boards good advice?

Norman Marks

There are thousands of PwC employees around the world. There have to be some that understand how the effective management of risk helps boards and management teams achieve enterprise objectives through informed and intelligent decisions. It enables people to take the right level of the right risks for success.

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Concentrix and Webhelp Complete Combination, Creating a Diversified Global CX Leader, Well-Positioned for Growth

Benzinga

NEWARK, Calif., Sept. 25, 2023 (GLOBE NEWSWIRE) -- Concentrix Corporation (NASDAQ: CNXC ), a leading global provider of customer experience (CX) services and technologies, today announced it has closed its combination with Webhelp and the integration of the two companies is underway. While the combined company finalizes its permanent name, it will operate under the trade name Concentrix + Webhelp.

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Building Biz Plans $1B Buyback After Listing Moves To NYSE

Law 360 M&A

Building materials giant CRH PLC said Monday that it plans to line shareholders' pockets with $1 billion from a share buyback after it moved its primary listing from London to New York.

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