Wed.Apr 06, 2022

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SEC Proposes Short Sale Disclosure Rules

Harvard Corporate Governance

Posted by Brian Breheny, Raquel Fox, and James Rapp, Skadden, Arps, Slate, Meagher & Flom LLP, on Wednesday, April 6, 2022 Editor's Note: Brian Breheny and Raquel Fox are partners and James Rapp is counsel at Skadden, Arps, Slate, Meagher & Flom LLP. This post is based on their Skadden memorandum. On February 25, 2022, the U.S. Securities and Exchange Commission (SEC) announced that it unanimously voted to approve proposed changes requiring certain institutional investment managers [1] (

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The Consumer Retail Investment Banking Group: King of the Generalists?

Brian DeChesare

Ask anyone joining a large bank which group they’re most interested in, and consumer retail investment banking is a likely answer. It’s a great place for anyone who wants to work with well-known companies and brands, gain general valuation/modeling experience, and keep their exit options open. The benefits of the group are almost like the benefits of getting into investment banking : brand/prestige, technical skills, and exit opportunities.

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The SEC’s Proposed Climate-Related Disclosure Rules: Thoughts for Audit Committees

Harvard Corporate Governance

Posted by David M. Silk, Carmen X. W. Lu, and Ram Sachs, Wachtell, Lipton, Rosen & Katz, on Wednesday, April 6, 2022 Editor's Note: David M. Silk is partner, Carmen X. W. Lu is counsel, and Ram Sachs is an associate at Wachtell, Lipton, Rosen & Katz. This post is based on their Wachtell memorandum. Related research from the Program on Corporate Governance includes The Illusory Promise of Stakeholder Governance by Lucian A.

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Why JetBlue Airways Stock Is Falling Today

Benzinga

JetBlue Airways Corp (NASDAQ: JBLU ) shares are trading lower Wednesday morning after the company confirmed it made a $3.6 billion offer to acquire Spirit Airlines Inc (NYSE: SAVE ). JetBlue submitted a proposal to Spirit's board of directors to acquire Spirit for $33 per share in cash. The company. 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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Statement by Commissioner Peirce on In the Matter of Lloyd D. Reed

Harvard Corporate Governance

Posted by Hester M. Peirce, U.S. Securities and Exchange Commission, on Wednesday, April 6, 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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Blackhawk Growth To Acquire Mycology Supplier Blum Distributors

Benzinga

The investment holding company Blackhawk Group (CSE: BLR) announced that it has entered into an all-stock purchase agreement with Blum Distributors Ltd. Blum is a mycology supplier with in-house product cultivation, distribution and sales center. The company recently signed a contract with Applied Myco to provide a white label solution. The contract guarantees a minimum order of 500 bags per month during its Phase 1.

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How Employee Ownership Provides a Competitive Edge In Recruitment and Retention

Butcher Joseph & Co.

Employee stock ownership plans (ESOPs) offer several advantages to employers attempting to respond to the growing demand for employee ownership while. The post How Employee Ownership Provides a Competitive Edge In Recruitment and Retention appeared first on ButcherJoseph & Co.

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NewLake Capital Partners Acquires Cultivation Property In Missouri For $34M

Benzinga

NewLake Capital Partners, Inc. (OTCQX: NLCP ) i s c losing part-one of a three-part commitment for a cultivation property in Missouri. The commitment includes the purchase of a 40,000-square-foot industrial property in O’Fallon, Missouri, and entering into a long-term, triple-net lease with an affiliate of C3 Industries, Inc, which is guaranteeing the lease.

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Capital Flight: Foreign Investors Exit China

Global Finance

The Russian invasion of Ukraine caused international investors to pause for thought on where their international investments reside. Are they seeing China in a new light?

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Global Economics Intelligence executive summary, March 2022

Mckinsey and Company

Amid high inflation, a pandemic, and Russia’s invasion of Ukraine, surveyed economies display considerable resilience; trade is strong, and manufacturing and services continue to expand moderately.

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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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Addressing Problematic Drinking In The Legal Profession

Law 360 M&A

To curb problematic drinking, on the rise during the pandemic, legal employers should implement comprehensive responsible drinking policies that are taken seriously by firm leadership, and provide alternatives for creating a healthy workplace culture, says Anne Brafford at the Institute for Well-Being in Law.

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Capturing the net-zero opportunity with portfolio synergies

Mckinsey and Company

Planning for the net-zero project portfolio presents a long-awaited opportunity to update conventional thinking, transform work processes, and dramatically improve performance.

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Blackstone weighs takeover bid for Italian infrastructure group Atlantia

Financial Times M&A

New York-based private equity group works on offer with Benetton family’s holding company

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Mastering off-price fashion in an omnichannel world

Mckinsey and Company

The diversity of off-price channels and the emergence of online players requires fashion brands to develop clear strategies that protect their brands while reaching new consumers.

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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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Nine senior WarnerMedia executives quit on eve of Discovery takeover

Financial Times M&A

Chief executive Jason Kilar among those to leave before $43bn merger

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Introduction: April 2022

Mckinsey and Company

The focus on net-zero engineering and project development is fully under way, and the picture for today’s energy, industrial, and transportation assets and underlying infrastructure remains uncertain.

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Asset managers: higher rates will not put brakes on M&A

Financial Times M&A

Tighter monetary is likely to accelerate rather than halt the shopping spree

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To Call a Donkey a Racehorse: The Fiduciary Duty Misnomer in Corporate and Securities Law

Reynolds Holding

In a new article, I address a subject that has been ignored for too long: The fiction of meaningful fiduciary standards in the corporate and securities laws contexts. My article explores the standards that legislatures and courts apply to corporate fiduciaries and demonstrates that the commonly-held framework does not reflect the situation that in fact prevails.

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Toshiba’s second biggest shareholder pushes for sale to private equity

Financial Times M&A

3D Investment Partners says conglomerate has become ‘a corporate governance embarrassment’

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Japan’s design imperative

Mckinsey and Company

Japanese companies want to revamp their innovation engines and reconnect with their customers. Good design will help.

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AdTech Startup Valuation: 2022 Multiples + Example

Sharp Sheets

According to a recent research, the global ad tech software market is projected to reach $30 billion by 2026, growing at 7.9% CAGR from 2019-26. Due to strong underlying market trends, the Adtech industry has some of highest tech valuation, looking at the publicly-listed comparables (more on that below). In this article we’ll go through a step-by-step valuation guide that works for any Adtech startup.

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Uniserve Communications Agrees To Purchase Private Cloud Solutions Provider For C$3.75M

Benzinga

Uniserve Communications Corp (TSXV: USS) entered into a Letter of Intent dated March 2, 2022, to purchase all of the issued and outstanding shares of a Vancouver area-based Private Cloud Solutions provider focused on the provision of hosted applications and virtual desktops. The provider offers secure managed physical terminals to customers, which provides.

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Lee Speaking at The ESOP Association National Conference

Auto Dealer Valuation Insights

Timothy Lee, ASA, Managing Director at Mercer Capital, will moderate a session on Helpful Take-Aways from Your Valuation at The ESOP Association National Conference in Washington, D.C. on May 3-6. The session will focus on how ESOP companies can create and uncover helpful uses from the annual valuation process and the report. The learning objectives for the session include guidance on assessing & Source.

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How to Prepare Your Financials For the Sale of Your Business

Midstreet Blog

As a small business owner, you probably have a love-hate relationship with your business financials. Many of the owners we work with are focused on running their business and only have financials because the IRS requires it. If that’s you, then this blog is for you.

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Trout CPA Welcomes Bob Pozesky as Director of Advisory Services

Trout CPA

Trout CPA is pleased to announce that Robert (Bob) Pozesky has joined the firm as Director of Advisory Services. Prior to joining Trout CPA, Bob was a Practice Leader, Strategy and Operations Consulting with another regional accounting firm.

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Fully Deduct Business Meals This Year

Machen McChesney

The federal government is helping to pick up the tab for certain business meals. Under a provision that’s part of one of the COVID-19 relief laws, the usual deduction for 50% of the cost of business meals is doubled to 100% for food and beverages provided by restaurants in 2022 (and 2021).

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Don’t forget to depreciate business vehicles

Henry Horne

Changes in tax law implemented in 2018 means businesses have been able to take advantage of depreciation laws regarding their ability to depreciate business vehicles. Here are a few things to keep in mind when figuring out the depreciation. Section 179 is an immediate expense deduction that business owners can take instead of depreciating the … Keep Reading.

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Analyst 'Struggles to Find The Benefits' From JetBlue's Takeover Bid For Spirit

Benzinga

JetBlue Airways Corporation (NASDAQ: JBLU ) has made a $33 per share offer for Spirit Airlines Incorporated (NYSE: SAVE ), which equates to $3.7 billion in market capitalization, $7.4 billion in enterprise value and “a 7.3x EV/EBITDAR multiple on our 2023 estimates,” according to BofA Securities. The JetBlue Airways Analyst: Andrew Didora maintained a Buy rating on JetBlue Airways, with an unchanged price.

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PE Firm Buys Cybersecurity Co. In $570M Deal Led By 3 Firms

Law 360 M&A

Israeli cybersecurity outfit Tufin, advised by White & Case and Meitar, will be taken private at a $570 million valuation by Kirkland & Ellis-led Turn/River Capital, the companies said Wednesday, in a deal that comes on the same day the buyer closed its latest fund with $1.35 billion in tow.

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Tufin Shares Soar After It Agrees for Takeover At 44% Premium

Benzinga

Software-focused investment firm Turn/River Capital agreed to acquire Tufin Software Technologies Ltd (NYSE: TUFN ) in an all-cash transaction that values Tufin at $570 million. Tufin is a company pioneering a policy-centric approach to security and IT operations. Tufin shareholders will receive. Full story available on Benzinga.com.

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Warren Buffett’s Berkshire buys $4.2bn stake in HP

Financial Times M&A

Investment is the latest in a string of big deals by the Geico and BNSF owner

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Charles River Buys Contract Vivarium Research Services Firm In $295M Deal

Benzinga

Charles River Laboratories International Inc (NYSE: CRL ) has acquired Explora BioLabs Holdings Inc , a provider of contract vivarium research services, for $295 million. California-based Explora BioLabs operates more than 15 preclinical vivarium facilities, offering turnkey rental space in Southern California, San Francisco, and Boston-Cambridge biohubs, with a planned expansion in Seattle in 2022.

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SEC Says “Control Deficiency” Gave Enforcement Staff Access to Privileged Documents

Reynolds Holding

The Commission has identified a control deficiency related to the separation of its enforcement and adjudicatory functions within its system for administrative adjudications. When this deficiency was identified, the Chair immediately notified the other Commissioners and directed the staff to undertake remedial measures and commence a comprehensive internal review to assess the scope and potential impact of the issue.

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Digital Transformation Market [2022-2028] size to Hit USD 3,546.80 billion | Exhibiting a Stellar CAGR of 22.1%

Benzinga

Pune, India, April 06, 2022 (GLOBE NEWSWIRE) -- The global digital transformation market is expected to gain impetus from the emergence of industrial automation in a wide range of industries. Robots are able to control several core industrial processes efficiently. Fortune Business Insights™ published this information in a new report, titled, "Digital Transformation Market Share, 2021-2028.