Thu.Feb 09, 2023

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How do you divide equity between co-founders?

Vested

Startup founders have a million and one decisions to make. Each one needs to be thought about carefully because one wrong move could end in disaster. Some of the more difficult decisions sit within the boundaries of how to share things with one another.

Equity 52
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Outlook for Activism in 2023

Harvard Corporate Governance

Posted by James E. Langston, Kyle A. Harris, and Claire Schupmann, Cleary Gottlieb Steen & Hamilton LLP, on Thursday, February 9, 2023 Editor's Note: James E. Langston and Kyle A. Harris are Partners and Claire Schupmann is an Associate at Cleary Gottlieb Steen & Hamilton LLP. This post is based on their Cleary memorandum. Related research from the Program on Corporate Governance includes The Long-Term Effects of Hedge Fund Activism (discussed on the Forum here ) by Lucian Bebchuk,

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Preview: Valuation Lessons Learned From the Gaming Industry

BVR

The 2023 edition of the Business Valuation Update Yearbook is out now and captures key changes in regulations, important takeaways from conferences, and last year's most groundbreaking and thought-provoking advancements in BV.

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EXCLUSIVE: Boston's First Black Female Cannabis Shop Owner Has Some Advice For Millennials And The Rest Of Us

Benzinga

As founder and CEO of The Heritage Club, a mission-driven Boston cannabis dispensary, Nike John is the youngest dispensary owner in Boston and the first Black woman to own a dispensary in a major city on the East coast. At 29 years old, John founded the cannabis dispensary and its non-profit subsidiaries as a way to not only provide safe cannabis products and support conscious consumption but to give back to the community and create a medium to help remedy the damage caused by the war on drugs.

Equity 98
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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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Drive New Business in 3 Simple Steps: A Guide to the BizEquity Prospecting Tool

Biz Equity

If you’re like most advisors, you didn’t get into this business to do marketing and sales. You became an advisor to help your clients meet their financial goals and ultimately improve their lives. But as our industry becomes increasingly crowded, it’s more important than ever for advisors to master the art of prospecting – the process of initiating and developing new business by searching for potential clients.

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Pachter Pounds The Gavel On Activision Deal, Says Microsoft Prepared To Beat Regulators 'Into Submission'

Benzinga

The United Kingdom's Competitions and Markets Authority has indicated the deal between Activision Blizzard Inc (NASDAQ: ATVI ) and Microsoft Corp (NASDAQ: MSFT ) could hurt competition in the space. Wedbush analyst Michael Pachter laid out why the regulatory chatter is really just noise and explained why he expects the deal to go through on Benzinga's PreMarket Prep show.

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Common Accounting Pitfalls for Startups to Avoid

Machen McChesney

Accounting is a critical element when launching a successful business venture. Unfortunately, it’s also an area where startups tend to make mistakes. Here are some common (and avoidable) errors that entrepreneurs should watch out for.

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Resilience in crisis: Perspectives from Davos

Mckinsey and Company

Delegates from many sectors across the globe gathered at Davos this year to discuss a world affected by unprecedented crises and an uncertain future. What are the key themes that emerged?

87
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WHY do auditors do that?

Norman Marks

One of the most powerful words for an auditor is one of the shortest: “why”. We should always ask an individual performing a control why they are doing it. Even if we know why, if the individual doesn’t know why that can affect their ability to perform the control properly, on a consistent basis.

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What does sustainable and inclusive growth mean to leaders?

Mckinsey and Company

Senior partner and McKinsey Global Institute director, Kweilin Ellingrud, talks about her key takeaways from her discussions with CEOs at Davos, and how businesses can meaningfully pursue sustainable, inclusive growth.

85
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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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Activist Nelson Peltz Gives Up Fight For Seat On Disney Board

Law 360 M&A

Activist Nelson Peltz has ended his battle to secure a seat on the Disney board, according to a Thursday announcement that comes a day after the entertainment company unveiled plans to undergo a strategic restructuring that includes cutting $5.5 billion in costs and eliminating 7,000 jobs.

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The ERP platform play: Cheaper, faster, better

Mckinsey and Company

Enterprise resource planning upgrades can be expensive and complex—and unavoidable. A product and platform approach can manage costs and improve outcomes.

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Deals Rumor Mill: Adani, Carlyle, Restaurant IPOs

Law 360 M&A

Investors are flocking back to Adani Group bonds after a recent market rout, Carlyle Group could bid $15 billion to acquire health care technology firm Cotiviti, and several restaurant chains including Panera are planning initial public offerings. Here, Law360 breaks down these and other deal rumors from the past week that you need to be aware of.

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The big picture at Davos: How businesses can capture sustainable opportunities

Mckinsey and Company

McKinsey partner, Yuito Yamada, talks about the biggest issues being discussed at the World Economic Forum Annual Meeting, including how companies are thinking about sustainability.

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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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FTC's Meta VR Choice: Try, Try Again?

Law 360 M&A

After a California federal judge refused to temporarily block Meta's purchase of virtual reality fitness app maker Within Unlimited, the Federal Trade Commission is left with a choice that could help shape the future of its aggressive antitrust enforcement push, especially the agency's desire to protect nascent competition.

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Entain shares drop after MGM rules out takeover

Financial Times M&A

Casino operator declines to make second bid for UK gambling group, scuppering investors’ hopes for payout

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Why The Original 'Rocket Docket' Will Likely Resume Its Pace

Law 360 M&A

Though the Eastern District of Virginia, for decades the fastest federal trial court in the country, experienced significant pandemic-related slowdowns, several factors unique to the district suggest that it will soon return to its speedy pace, say Dabney Carr and Robert Angle at Troutman Pepper.

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Automotive Glass Market Size worth USD 31.16 Billion, Globally, by 2028 at a CAGR of 10.5%

Benzinga

Pune, India., Feb. 09, 2023 (GLOBE NEWSWIRE) -- In 2020, the global automotive glass market was valued at USD 14.48 billion. However, due to the COVID-19 pandemic, the market saw a decrease in demand and a decline of 12.9% compared to the average annual growth from 2017 to 2019. But, as the pandemic subsides, the market is projected to recover and grow from USD 15.48 billion in 2021 to USD 31.16 billion by 2028, at a compound annual growth rate (CAGR) of 10.5%.

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OK, but what’s the deal with this StanChart-FAB bid story?

Financial Times M&A

When it comes to six months in the cooler, there’s no beating the Panel

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How a global components manufacturer built an ambitious carbon reduction roadmap

Mckinsey and Company

Danfoss is working to decarbonize the supply chain for some of the world’s most emission-heavy sectors with the help of McKinsey.

73
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How to survive tax season

ThomsonReuters

As accountants, there’s no way to avoid the hectic nature of tax season. Amidst such a busy time, how do you ensure you aren’t overwhelming yourself or your staff? The answer lies in planning ahead, maximizing the tools available to you, and understanding your purpose. How can I make my tax season easier? From carving out dedicated personal time to implementing time-saving tools and technology, let’s take a look at three ways you can shift out of survival mode and thrive not only during tax seas

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Leading with mobile: In conversation with ING’s Petri Nikkilä

Mckinsey and Company

ING’s head of retail markets leaders for the Netherlands, Belgium, and Luxembourg discusses the bank’s journey to a mobile-led model, and about balancing customer experience with operational and digital innovation.

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OCR Bulletin Addresses HIPAA’s Application to Online Tracking Technologies

ThomsonReuters

OCR Bulletin: Use of Online Tracking Technologies by HIPAA Covered Entities and Business Associates (Dec. 1, 2022); HHS Office for Civil Rights Issues Bulletin on Requirements under HIPAA for Online Tracking Technologies to Protect the Privacy and Security of Health Information (Dec. 1, 2022) Bulletin News Release HHS’s Office for Civil Rights (OCR) has issued a bulletin to highlight the HIPAA privacy, security, and breach notification obligations imposed on covered entities (including health pl

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How to Maximize Value When Selling a Manufacturing Business

Sun Acquisitions

Deciding to sell your manufacturing business is a big one – and it can be just as essential to get maximum value out of your sale as it is to find the right buyer. To help you maximize the return on your investment, here are some tips for optimizing value when selling a manufacturing business. Put Resources Towards an Attractive Listing Creating attractive listing materials helps potential buyers get acquainted with your company’s background and current operations — so being prepared

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FCF is sponsor of the 7th ECP on February 23-24, 2022 in Düsseldorf, Germany

Fox Corporate Finance

From February 23 to February 24, 2023, the ECP – European Chemistry Partnering Congress, the business speed dating event for the chemical and biotech industry, will take place for the seventh time in Düsseldorf, Germany. Read more The post FCF is sponsor of the 7th ECP on February 23-24, 2022 in Düsseldorf, Germany appeared first on FCF Fox Corporate Finance GmbH.

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Business Valuation in Shark Tank

RNC

On the well-known show “Shark Tank,” financiers (or Sharks) listen to proposals from entrepreneurs seeking their financial support. The Sharks often demand a stake in the company, which is a percentage of ownership and a portion of the profits, in exchange for their funding. The entrepreneur receives funding in exchange for giving up an interest in the business, but frequently, more crucially, they gain access to the Sharks, their network of contacts, suppliers, and experience.

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Is Your Company an A Asset?

Redpath

Anyone who has founded and successfully built a business has good reason to take pride in that achievement. So if you have reached the point where it is time to sell your company , you might be forgiven for assuming it is a richer plum for investors than is actually the case. But potential buyers have no emotional investment here. They will make their own assessment to determine what your business is worth and if they consider it an A asset.

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Abbott Adds Complementary Technologies To Its Vascular Offering Via Cardiovascular Systems Deal For $890M

Benzinga

Abbott Laboratories (NYSE: ABT ) agrees to acquire Cardiovascular Systems Inc (NASDAQ: CSII ) for $20/share for an equity value of approximately $890 million. CSI offers devices for atherectomy, a minimally invasive treatment for plaque build-up in arteries that can restrict blood flow. Procedural use of atherectomy can help maximize the benefits of standard balloon angioplasty or stent treatments.

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Outsource Marketing Activities? Make Sure You Have a Vendor Management Program

N Contracts

No one knows how to stretch a dollar for maximum impact like the marketing department. Tasked with reaching an ever-expanding audience covering a broad mix of digital and traditional channels, they are masters at finding the best ways to cut through the clutter and deliver their financial organization’s message.

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Credit Suisse Announces Next Milestone For CS First Boston Carveout With Klein Deal, CEO Says '2024 Should Be Profitable'

Benzinga

Credit Suisse Group AG (NYSE: CS ) has agreed to buy Michael Klein's investment banking boutique for the purchase price is $175 million, with the full consideration valued at $210 million, to take over The Klein Group. The seller will receive equity in CS First Boston as a convertible note. In addition, Michael Klein has been appointed Chief Executive Officer (CEO) of Banking and CEO of the Americas and designated CEO of CS First Boston, Credit Suisse's split off its investment bank into

Banking 52
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Bessemer Buys Majority Stake In Legal Tech Co. Litify

Law 360 M&A

Venture capital firm Bessemer Venture Partners acquired a majority stake in the legal operating platform Litify LLC on Thursday as the legal tech company claims that it has achieved profitability.

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Globus Medical-NuVasive Deal To Accelerate Globalization Strategy, Target $50B Musculoskeletal Market

Benzinga

Globus Medical Inc (NYSE: GMED ) and NuVasive Inc (NASDAQ: NUVA ) have agreed to combine in an all-stock transaction, bringing together two technology companies to accelerate globalization strategy to target the $50 billion musculoskeletal market. Together, Globus Medical and NuVasive will have a presence in more than 50 countries with more than 5,000 employees.

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Can Our Company Condition a Job Offer on the Applicant’s Agreement Not to Enroll a Child With a Known Disability in Our Health Plan?

ThomsonReuters

QUESTION: We learned in the interview process that a top job candidate’s child has a serious disability. Our major medical plan covers employees and their dependents, and we are concerned that the child’s condition will substantially increase costs under the plan. Is it permissible under the Americans with Disabilities Act (ADA) and other laws to condition a job offer on not enrolling the child in the plan?

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Why Companies Should Consider Court-Ordered Receivership Listings for Future Acquisitions

Benzinga

In 2022, the California cannabis industry took a downturn that led to the closing of various cannabis businesses & operations across the state. License saturation, 280E, competition, and the price per pound, to name a few, are only some of the factors that contributed to this downturn in the market. The Nation's largest cannabis business brokerage Green Life Business was not only at the forefront of these events but was able to assist many of the operators that were looking to offload th