Mon.Aug 08, 2022

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Does ESG Negative Screening Work?

Harvard Corporate Governance

Posted by Robert Eccles (Oxford University), Shivaram Rajgopal (Columbia University), and Jing Xie (Hong Kong Polytechnic University), on Monday, August 8, 2022 Editor's Note: Robert Eccles is Visiting Professor of Management Practice at Oxford University Said Business School; Shivaram Rajgopal is Roy Bernard Kester and T.W. Byrnes Professor of Accounting and Auditing at Columbia Business School; and Jing Xie is Assistant Professor of Finance at Hong Kong Polytechnic University School of Account

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Viking Intern Returns to App State With Valuable Experience

Viking Mergers

We were extremely fortunate to have Conrad Nelsen spend three months with the Viking Mergers & Acquisitions team in Charlotte, NC. Conrad was our Spring 2020 recipient of the Viking Entrepreneur Endorsement Scholarship. He is working towards a double major at Appalachian State University in Finance & Banking and Risk Management & Insurance, along with a minor in Accounting.

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Welcoming the Universal Proxy

Harvard Corporate Governance

Posted by Kai Liekefett, Derek Zaba, and Leonard Wood, Sidley Austin LLP, on Monday, August 8, 2022 Editor's Note: Kai Liekefett and Derek Zaba are partners and Leonard Wood is senior managing associate at Sidley Austin LLP. This post is based on an Ethical Boardroom publication. Related research from the Program on Corporate Governance includes Universal Proxies (discussed on the Forum here ) by Scott Hirst.

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Product development in the era of digital transformation and sustainability

Mckinsey and Company

Because of digital and sustainability trends, R&D organizations are facing an increasingly complex landscape. Developing the necessary organizational structures and capabilities is urgent.

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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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SEC Reverses Aspects of Proxy Voting Advice Regulations

Harvard Corporate Governance

Posted by Marc Treviño and Bob Downes, Sullivan & Cromwell LLP, on Monday, August 8, 2022 Editor's Note: Marc Treviño and Bob Downes are partners at Sullivan & Cromwell LLP. This post is based on a Sullivan & Cromwell memorandum by Mr. Treviño, Mr. Downes, Aaron Levine , Natasha Rygnestad-Stahl, and Jordan Voccola. Summary. On July 13, the SEC voted 3 to 2 (Commissioners Peirce and Uyeda dissenting) to adopt amendments to the rules governing proxy voting advice provided by proxy advi

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Amazon Said To Be In Talks To Buy Indian Logistics Unicorn For Up To $600M

Benzinga

E-commerce giant Amazon.com, Inc. (NASDAQ: AMZN ) is in talks to acquire over 51% stake in logistics firm Ecom Express Ltd for $500 million-$600 million, India's Mint newspaper reported, citing sources. What Happened : The development follows Amazon’s efforts at building an in-house logistics division, as per the report. Ecom Express is an end-to-end technology-enabled logistics solutions provider to the Indian e-commerce industry, according to the firm’s website.

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Organizational Performance in Business

Rhythm Systems

Organizational performance is an essential aspect of any business. Being a growing business is great for attracting and keeping talented employees. It affects how well companies perform and whether they can compete in their industries. Organizational performance starts at the top with the leadership and executive teams. Performance measurement is at the heart of every high-performance company, and they can clearly define and measure organizational performance.

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Elon Musk Dares Twitter's Parag Agrawal, Climate Bill Scrapes Through, Fed Official Steps Up Hawkish Rhetoric And More: 5 Key Stories You May Have Missed From This Weekend

Benzinga

The weekend that went past had its fair share of action, with Washington lawmakers keeping companies and investors on tenterhooks regarding the Senate clearance of the climate bill before finally approving it. With earnings still on the radar and key inflation data due in the unfolding week, here's a recap of a few major headlines that hit the wire over the weekend: Elon Challenges Twitter CEO For Public Debate: Tesla, Inc.

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Veolia To Sell Suez UK For €2.4B To Quell Antitrust Concerns

Law 360 M&A

Veolia said Monday that it will sell Suez's waste management business in the U.K. to Australian financial services group Macquarie for €2.4 billion ($2.5 billion), as the French utility giant seeks to resolve long-running antitrust concerns.

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Six reasons a move to cloud ERP is more urgent than ever

Avanade

Making the transition to cloud is urgent, but at Avanade we caution our clients that technology alone can’t be viewed as an end goal. It must be viewed as a tool for intentional business transformation.

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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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You can’t audit this!

Norman Marks

I have heard that in one form or another over my career. The first came when I was an internal audit manager for a financial institution. The senior vice president for Human Resources said she was a big supporter of internal audit, but my team and I couldn’t audit her area. I asked why and […].

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Electric vehicles: The next growth engine in chemicals

Mckinsey and Company

A paradigm shift in automotive purchasing linked to the electric-vehicle transition is creating a major growth opportunity for chemical companies.

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How External Confirmations Are Used During an Audit

Machen McChesney

Auditors commonly use confirmations to verify such items as cash, accounts receivable, accounts payable, employee benefit plans, and pending litigation. Under U.S. Generally Accepted Auditing Standards, an external confirmation is “a direct response to the auditor from a third party either in paper form or by electronic other means, such as through the auditor’s direct access to information held by a third party.”.

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The McKinsey Crossword: National Book Lovers Day | No. 88

Mckinsey and Company

Sharpen your problem-solving skills the McKinsey way, with our weekly crossword. Each puzzle is created with the McKinsey audience in mind, and includes a subtle (and sometimes not-so-subtle) business theme for you to find. Answers that are directionally correct may not cut it if you’re looking for a quick win.

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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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First Amendment of China's Anti-Monopoly Law – Key Takeaways

National Law Review M&A

Frank Voon Ling Jun Zhang Xiaotong Wang Jurisdiction: China Type of Law: Global Antitrust & Trade Regulation Mergers & Acquisitions Election Law / Legislative News

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Axios to Sell Itself to Cox Enterprises for $525 Million

NYT M&A

The digital media company’s founders, Jim VandeHei, Mike Allen and Roy Schwartz, will continue to run the company.

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What Are They Lobbying For?

Appraisers Blog

TAF spent $1.4 million dollars lobbying over the past four years using the revenue they take in from appraisers… To set the stage of the complete disdain for the appraisal industry and the public trust… In the 2019 TAF 990 Filing, and based on the assumption their compensation has increased in the last three years, the two leaders of TAF, Dave & Kelly, run a 12 employee entity and make a staggering ± $750,000 annually.

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ExxonMobil completes exit from Niger Delta with $1.3bn deal

Financial Times M&A

Seplat Energy will acquire the four oilfields as big international groups withdraw from the area

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Catching Up With Delaware's Chancery Court

Law 360 M&A

An increasingly busy Delaware Chancery Court raced to docket new suits last week involving PayPal, Snapchat and the Carlyle Group in between a flurry of Twitter-related filings.

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The private equity club: how corporate raiders became teams of rivals

Financial Times M&A

The industry was founded by mercenary dealmakers who bludgeoned opponents.

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Gaming Platform Sued In Del. Chancery Over $4.4B Merger

Law 360 M&A

Unity Software Inc. stockholders sued directors of the video game animation platform company in Delaware Chancery Court on Monday, seeking to block a $1 billion note issuance to support a $4.4 billion merger with ironSource Ltd., pending fuller disclosures about the deal.

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Lease Standard ASC 842 Implementation Solutions

Meade & Moore

After many years of deferral, the FASB is finally requiring the adoption of Accountin g Lease Standard No. 2016-12, Topic 842, Leases. The new standard is required to be implemented for fiscal years beginning after December 15, 2021 (if your year end is December 31, 2022 – this means you!).

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Publishing CEO Says Merged Rival Would Be 'Intimidating'

Law 360 M&A

The CEO of Macmillan Publishers told a D.C. federal court on Monday that the planned merger of Penguin Random House and Simon & Schuster would create an "intimidating" publisher capable of acquiring any book it wants.

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July – August Issue of the Deal Lawyers Newsletter

John Jenkins

The July-August Issue of the Deal Lawyers print newsletter was just posted and sent to the printer. This month’s issue includes the following articles: – Universal Proxy: What Companies Need to Know in ‘Year Zero’ – How Continuous Voting with UPC Will Change Proxy Contests – The Deal Closed – Now What?

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Axios to be sold to Cox Enterprises as legacy media pursue start-ups

Financial Times M&A

$525mn purchase of politics and business publisher follows dealmaking wave for digital news groups

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Payroll employment returns to pre-pandemic levels

LaPorte

(authored by RSM US LLP) The U.S. unemployment rate now stands at 3.458%, the lowest rate in 50 years and one that many of us will most likely not observe again in our career arcs. The post Payroll employment returns to pre-pandemic levels first appeared on LaPorte.

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BHP/OZ Minerals: bolt-on buy would have a copper-bottomed rationale

Financial Times M&A

Board has rejected cash bid as opportunistic but deal would reduce risk for investors

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These Loafers Are Made for Walkin’

Auto Dealer Valuation Insights

Last week, Tod’s – the Italian maker of luxury shoes – announced plans by the founding Della Valle family to take the company private. Under the proposed transaction, the Della Valle family would invest €338 million to increase its ownership interest from just under 65% to 90%. Following the transaction, the remaining 10% equity position will be held by luxury conglomerate LVMH.

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Is Tobacco Vaping Associated With Cannabis Use In Youth? Here's What A New Study Found

Benzinga

A study found that adolescents who use e-cigarettes are over three times more likely to use cannabis than those who don’t. "E-cigarette use among cannabis-naive adolescents was associated with an increased likelihood of both self-reported past 12-month and past 30-day cannabis use 1 year later," stated the study. The research is based on the Population Assessment of Tobacco and Health (PATH) study that was published at JAMA Network Open and surveyed a nationally representative gr

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Ex-Chancery Judge Heads To Wilson Sonsini As Partner

Law 360 M&A

Former Delaware Chancery Court vice chancellor Joseph R. Slights III is starting another chapter in his legal career in the state, as he has joined Wilson Sonsini Goodrich & Rosati PC as a partner in its Wilmington office two months after leaving the bench.

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Troubled Bed Bath & Beyond Is The Target Of A Short Squeeze, Reddit Hype

Benzinga

Home furnishings retailer Bed Bath & Beyond Inc. (NASDAQ: BBBY ) is the target of a systematic short squeeze by the Reddit traders also known as 'Apes.' On Monday, according to Benzinga Pro , the short float for Bed Bath was over 46%, making it one of the most widely shorted stocks on the Nasdaq. Bed Bath is currently the most talked-about stock on Reddit, according to Finder , which tracks equities discussed by Reddit users.

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Cannabis Co. Investors Fight Effort To Dismiss Merger Suit

Law 360 M&A

Neptune Wellness Solutions Inc. and a proposed class of investors suing it for securities fraud squared off in filings submitted in New York federal court Friday, with the company arguing that the suit should be tossed as it comes "nowhere close" to supporting their claims and shareholders saying their case is "straightforward.

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Emerson Sells InSinkErator Business To Whirlpool For $3B

Benzinga

Emerson Electric Co. (NYSE: EMR ) has agreed to sell its InSinkErator business to Whirlpool Corp (NYSE: WHR ) in a $3 billion all-cash transaction. InSinkErator's trailing twelve-month revenue, as of March 31, 2022, was $595 million, pretax earnings were $148 million, and EBITDA was $166 million, representing a transaction value of 18.1x EBITDA.

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Radius Health Investor Sues To Probe $890M Merger

Law 360 M&A

A shareholder of Radius Health Inc. sued the Boston-based global biopharmaceutical company in Delaware's Court of Chancery on Monday to investigate events leading up to its planned $890 million acquisition by investment firms Gurnet Point Capital LLC and Patient Square Capital.

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