Mon.Mar 06, 2023

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Poke-and-Sniff: How U.S. Regulators Became Disease Vectors

Appraisers Blog

Poke-and-Sniff… Once federal bureaucrats embrace a destructive practice, it can take a lifetime to correct it. When government tries to Cobra Effect.” Occupational licensees and those in heavily regulated industries will recognize the pattern immediately. American high schools routinely teach Upton Sinclair’s novel “The Jungle.” Its publication more than a century ago led to the quintessential success story for federal regulation.

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Musings and Questions about the Universal Proxy Card

Harvard Corporate Governance

Posted by Arthur B. Crozier, and Gabrielle E. Wolf, Innisfree M&A Inc., on Monday, March 6, 2023 Editor's Note: Arthur B. Crozier is Chairman and Gabrielle E. Wolf is a Director at Innisfree M&A Incorporated. This post is based on their Innisfree memorandum. Related research from the Program on Corporate Governance includes Universal Proxies (discussed on the Forum here ) by Scott Hirst; Index Funds and the Future of Corporate Governance: Theory, Evidence and Policy (discussed on the For

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Stepping up: Becoming a high-potential CEO candidate

Mckinsey and Company

The road to becoming CEO is a difficult ascent for even the most seasoned leaders. Here are four keys to making the journey a success.

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About 1,500 Empirical Studies Apply the BCF Entrenchment Index

Harvard Corporate Governance

Posted by Leeor Ofer (Harvard Law School), on Monday, March 6, 2023 Editor's Note: This post relates to a Program on Corporate Governance study published by Lucian Bebchuk, Alma Cohen and Allen Ferrell, What Matters in Corporate Governance , available here and discussed on the Forum here. Lucian Bebchuk is James Barr Ames Professor of Law, Economics, and Finance and Director of the Program on Corporate Governance, Harvard Law School.

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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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What is design thinking?

Mckinsey and Company

Design thinking is a systemic, intuitive, customer-focused problem-solving approach that organizations can use to respond to rapidly changing environments and to create maximum impact.

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Digital Wave Technology Acquires AI-Solution Software Company, GoalProfit

Business Wire M&A

PONTE VEDRA, Fla.--(BUSINESS WIRE)--Digital Wave Technology, Inc., the leader in AI-Powered Omni-Experiences for retailers and brands, announced that it has acquired GoalProfit, Inc., an Al & Optimization Solutions company based in Austin, TX, and Helsinki, Finland.

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Silver Lake and Canadian pension fund bid $12bn for Qualtrics

Financial Times M&A

Deal for survey software group would be one of largest this year

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Growth rules: Which matter most?

Mckinsey and Company

Ten rules should guide how companies select pathways to profitable growth, but each rule’s impact on performance varies considerably.

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Private credit edges out banks to offer Carlyle largest direct loan

Financial Times M&A

Apollo and Blackstone among those poised to provide $5.

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How oil and gas companies can secure supply-chain resilience

Mckinsey and Company

Operators can implement controls and shift their mindsets to shield against inflationary pressures and uncertainties around labor and material supply.

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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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Adaptimmune Agrees To Merge With Another Cell Therapy Focused Company

Benzinga

Adaptimmune Therapeutics plc (NASDAQ: ADAP ) is merging with TCR² Therapeutics Inc (NASDAQ: TCRR ) in an all-stock deal to create a cell therapy company focused on treating solid tumors. The lead clinical franchises for the combined company utilize engineered T-cell therapies targeting MAGE-A4 and mesothelin. These targets are expressed on a broad range of solid tumors.

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The circular cement value chain: Sustainable and profitable

Mckinsey and Company

Concrete and cement circularity could allow industry to rein in costs and reduce emissions, adding untapped value to the built environment.

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Telecom Italia: shareholders deserve a competitive auction

Financial Times M&A

State-owned lender’s bid is similar to KKR’s, but it attributes less value to FiberCop

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JetBlue Expects U.S. Move to Block Merger With Spirit

NYT M&A

JetBlue said it saw a “high likelihood” of an antitrust suit by the Justice Department this week, but declared that the deal would foster competition.

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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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Capturing growth in the evolving UK savings and retirement market

Mckinsey and Company

Companies in the UK savings and retirement market can consider targeting four high-growth segments to create a competitive advantage and to boost their resilience in challenging times.

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Core & Main Completes Acquisition of Landscape & Construction Supplies LLC

Business Wire M&A

ST. LOUIS--(BUSINESS WIRE)--Core & Main Inc. (NYSE: CNM), a leading specialized distributor of water, wastewater, storm drainage and fire protection products, and related services, has closed its previously announced acquisition of substantially all of the assets of Landscape & Construction Supplies LLC, a full-service provider of geosynthetics products, with two locations in the Chicago metropolitan area.

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Altria To Pay Up To $3.25 Billion For E-Cig Maker NJOY

Law 360 M&A

Altria Group Inc. confirmed Monday it plans to buy NJOY Holdings Inc., announcing a definitive agreement to pay approximately $2.75 billion in cash for the e-cigarette maker plus a potential $500 million for certain NJOY products.

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NI Acquires SET GmbH to Accelerate Power Semiconductor and Aerospace/Defense Test System Development

Business Wire M&A

AUSTIN, Texas--(BUSINESS WIRE)--NI (NASDAQ: NATI) today announced the acquisition of SET GmbH (“SET”), long-standing experts in aerospace and defense test system development and recent innovators in power semiconductor reliability test. Together, the companies will reduce time to market for critical, highly differentiated solutions and accelerate semiconductor-to-transportation supply-chain convergence with power electronic materials such as silicon carbide (SiC) and gallium nitrite (GaN).

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Catching Up With Delaware's Chancery Court

Law 360 M&A

Shareholders of AMC Entertainment, Rocket Mortgage and UpHealth saw their cases move forward in Delaware's Court of Chancery last week; shareholders of Meta Platforms and McDonald's had their suits tossed; and shareholders of MultiPlan Corp., Viacom Inc. and Charter Communications Inc., struck three separate deals to end their suits in settlements worth more than $243 million.

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‘Let’s not just rely on data’: Holt Renfrew’s Anne Pitcher on the future of retail

Mckinsey and Company

Retailers must become more consumer-centric, experiential, sustainable, and diverse than they’ve ever been, says the department store veteran and former managing director of Selfridges.

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Miami Beef Announces Two Add-On Acquisitions

Business Wire M&A

MIAMI--(BUSINESS WIRE)--Miami Beef Company Inc. (“Miami Beef” or the “Company”), a portfolio company of Trivest Partners, LP (“Trivest”), announces the acquisition of Brooklyn Burger and Devault Foods. Brooklyn Burger is a frozen burger brand primarily serving grocery and retail customers across the United States. Brooklyn Burger’s products include Original Steakhouse Burgers, Wagyu Beef Burgers, Premium Blend Burgers and All Natural Angus Steakhouse Burgers.

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JetBlue Touts Merger Despite Possible DOJ Suit

Law 360 M&A

Amid reports that the U.S. Department of Justice is expected to try and block JetBlue's $3.8 billion Spirit Airlines buy, JetBlue on Monday issued a statement that purports to demonstrate the deal's positive, pro-competitive effects.

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DXC Technology Statement

Business Wire M&A

ASHBURN, Va.--(BUSINESS WIRE)--In response to market rumors and speculation, on Oct 4th, 2022, DXC Technology (NYSE: DXC) announced that it was approached by a financial sponsor regarding a potential acquisition of the company. Consistent with its fiduciary responsibility to maximize shareholder value, the company engaged in preliminary discussions and shared information with a financial sponsor.

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Justices Leave Questions Open On Dual-Purpose Atty Advice

Law 360 M&A

The U.S. Supreme Court's recent dismissal of In re: Grand Jury on grounds that certiorari was improvidently granted leaves unresolved a circuit split over the proper test for deciding when attorney-client privilege protects a lawyer's advice that has multiple purposes, say Susan Combs and Richard Kiely at Holland & Hart.

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SAP/Qualtrics: valuation is a victim of market history in the making

Financial Times M&A

Markets have changed their minds about high-growth, low-profit companies

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Meta Wants 'Competitor' NYT's Docs In FTC Monopoly Case

Law 360 M&A

Meta asked a District of Columbia federal judge to force The New York Times to hand over material the social media giant says is "critical" to showing that instead of monopolizing personal social networking as the Federal Trade Commission alleges, it faces an array of competition.

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Adnoc and Gunvor deal talks reach impasse

Financial Times M&A

Co-founder of Switzerland-based energy trading company said to be reluctant to yield control to Abu Dhabi group

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How gender diversity affects the European economy

Mckinsey and Company

Helsinki-based associate Elina Mäkelä discusses the importance of gender diversity on Europe’s economy, which she says is a societal and ethical issue. It’s also a question of value, since diverse companies demonstrably outperform their peers by up to 25 percent.

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The President of RIMS talks about risk management

Norman Marks

Years ago, I spoke at a RIMS conference in Seattle. While they have produced some excellent pieces of thought leadership (under the leadership of Carol Fox), I was struck at the time by the dominance of people with a background in insurance.

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Transcript: “Activist Profiles & Playbooks”

John Jenkins

We have posted the transcript for our recent “Activist Profiles & Playbooks” webcast. Our panelists, Joele Frank’s Anne Chapman, Okapi’s Alexandra Higgins, Spotlight’s Damien Park and H/Advisors Abernathy’s Dan Scorpio provided expert insights on what may be in store when it comes to activism in 2023.

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Company KPIs: Creating Business KPIs That Drive Success in 2023

Rhythm Systems

The body has four main vital signs that doctors use all around the world to determine the condition of a patient. The four vital signs are body temperature, pulse rate, respiration (breathing) rate and blood pressure. These are measurements of the basic functions that keep you alive. They need to be functioning properly in order for anything else to work, including your brain!

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AuditBoard Surpasses $150 Million in ARR Following Record-Breaking Year of Bookings

Audit Board

Company continues rapid ARR growth of 60%+ while generating positive cash flow and gaining strong momentum with IT Risk and Compliance leaders. LOS ANGELES, CA - 7 March, 2023 – AuditBoard , the leading cloud-based platform transforming how businesses manage risk, today announced the company has surpassed $150 million in annual recurring revenue (ARR) as accelerating demand for its award-winning solutions continues to drive explosive growth.

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John Wood Rebuffs PE Firm Apollo's Latest £1.6B Offer

Law 360 M&A

John Wood Group said on Tuesday that it plans to reject the latest £1.64 billion ($1.97 billion) offer from U.S. private equity firm Apollo Global because it puts too low a value on the engineering business.

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How a Saudi Prince lost a £250mn London mansion

Financial Times M&A

Plus, Silicon Valley investors hype up artificial intelligence and a short seller makes allegations against firms that worked with Wirecard

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