Fri.Jul 18, 2025

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Freight Trucking Company Valuation Multiples

Peak Business Valuation

The freight trucking industry supports the most important distribution pipelines of our economy. As such, trucking businesses are extremely valuable. If you want to buy, grow, or sell a freight trucking company, understanding its worth on today’s market is critical. Valuation multiples are pivotal tools for determining a business’s value. These financial ratios provide a value estimate based on the company’s financial standing and recent market trends.

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The impact of the SALT cap on state income taxation: What’s next after the One Big Beautiful Bill Act

ThomsonReuters

The state and local tax (SALT) deduction has long been a pillar of the U.S. tax code, providing critical relief to taxpayers — especially those in high-tax states. That changed dramatically with the 2017 Tax Cuts and Jobs Act (TCJA), which imposed a $10,000 cap on SALT deductions. Now, with the passage of the One Big Beautiful Bill Act (OBBBA) in July 2025, the landscape is shifting again.

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Chevron Buys Hess After Beating Exxon in Dispute Over One of World’s Hottest Oil Projects

NYT M&A

Chevron completed its purchase of Hess after prevailing in a legal dispute with Exxon over one of the most promising oil projects in the world.

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RIA M&A Update: Q2 2025

Auto Dealer Valuation Insights

A activity in the RIA industry, which had been trailing 2023 levels for much of 2024, experienced a surge in the first half of 2025. A spike in January set a new record for monthly deal volume, exceeding the high watermark previously set in October of 2024. Q1 2025 was a record-setting quarter for deal volume.

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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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Weekly Roundup: July 11-17, 2025

Harvard Corporate Governance

Posted by the Harvard Law School Forum on Corporate Governance, on Friday, July 18, 2025 Editor's Note: This roundup contains a collection of the posts published on the Forum during the week of July 11-17, 2025 The Art and Science of Earn-Outs in M&A Posted by F. Dario de Martino, Clare O’Brien, and Mara Goodman, A&O Shearman, on Friday, July 11, 2025 Tags: Corporate governance , M&A , merger agreements , merger guidelines Oversight in the AI Era: Understanding the Audit Committee’s

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Royalty Consolidation Accelerates Amid Broader E&P M&A Wave

Auto Dealer Valuation Insights

While upstream corporate consolidation has dominated the energy M&A narrative over the past 12 months, the mineral and royalty segment has seen sustained momentum, driven by a mix of corporate mergers, strategic bolt-ons, and capital recycling among institutional holders.

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The OBBBA Awards: Recognizing the biggest hits and misses of the bill

ThomsonReuters

It’s time to roll out the red carpet and honor the biggest hits (and misses) of the One Big Beautiful Bill Act (OBBBA). Signed by President Trump on July 4, 2025, the OBBBA is more than just a mouthful of letters. It’s a complex sequel to the Tax Cuts and Jobs Act (TCJA) that permanently extends many of the provisions we’ve grown to love (or hate) while creating additional tax breaks for individuals and businesses.

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Chevron closes $55bn Hess takeover after winning Exxon legal battle

The Guardian M&A

Blockbuster acquisition is one of largest energy deals in past decade Chevron closed its $55bn acquisition of Hess on Friday after winning a landmark legal battle against its larger rival Exxon Mobil to gain access to the largest oil discovery in decades. The strategy of Chevron’s CEO, Mike Wirth, to turn around his company’s lagging performance hinged on the acquisition, one of the largest energy deals in the past decade.

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Shapeshifting DEI Whistleblowers: What to Know and Expect in 2025

Harvard Corporate Governance

Posted by Elizabeth Bieber, Austin Evers, and Jennifer Loeb, Freshfields Bruckhaus Deringer LLP, on Friday, July 18, 2025 Editor's Note: Elizabeth Bieber , Austin Evers , and Jennifer Loeb are Partners at Freshfields Bruckhaus Deringer LLP. This post is based on a Freshfields memorandum by Ms. Bieber, Mr. Evers, Ms. Loeb, Young Park , and Ginger Hervey.

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To Bitcoin or not to Bitcoin? A Corporate Cash Question!

Musings on Markets

In this post, I will bring together two disparate and very different topics that I have written about in the past. The first is the role that cash holdings play in a business , an extension of the dividend policy question, with an examination of why businesses often should not pay out what they have available to shareholders. In my classes and writing on corporate finance, I look at the motives for businesses retaining cash, as well as how much cash is too much cash.

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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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Blackboxstocks Provides Stockholder Update on Acquisition of Rare Earth Company

Benzinga

DALLAS, July 18, 2025 (GLOBE NEWSWIRE) -- Blackboxstocks Inc. (NASDAQ: BLBX ) ("Blackbox"), a financial technology and social media hybrid platform, today released a stockholder update from CEO Gust Kepler: As we kick off the first month of Q3 2025, I'm excited to update our stakeholders on our developments, especially with respect to our foray into the rare earth sector with our pending acquisition of REalloys, Inc.

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Paul Kusserow on the forces changing healthcare faster than ever

Mckinsey and Company

In his latest book, Paul Kusserow discusses the forces that will shift US healthcare more in the next ten years than it has changed in the past 100—and how to use these forces advantageously.

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Significant Business Tax Provisions in the One, Big, Beautiful Bill Act

Machen McChesney

The One, Big, Beautiful Bill Act (OBBBA) was signed into law on July 4. The new law includes a number of favorable changes that will affect small business taxpayers, and some unfavorable changes , too. Here’s a quick summary of some of the most important provisions.

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EU Says Vivendi Controlled Lagardère During Deal Review

Law 360 M&A

European enforcers have accused French media conglomerate Vivendi of exercising control over Lagardère's editorial operations and personnel decisions before and during a review of its acquisition.

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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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Why Machine Learning is the Unsung Hero of Modern Accountancy

Accounting Web

General practice Tags Artificial intelligence Customer service Making tax digital

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Keep it simple and keep moving: An interview with Claudia Toussaint

Mckinsey and Company

Operating model redesigns are complex undertakings. Xylem’s chief people officer believes the company has found a winning formula by simplifying its goals and focusing on culture.

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Comment on AVMs… The Not So Accurate Magic Bullet by Baggins

Appraisers Blog

Check this out. Avm values. They’re consistently responsive to listings, rather than sales. And just like that, incorporated data which drives the mean’s and averages up or down for everyone else.

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5 Firms Guide $3.5B Sale Of Power Plants In Penn. And Ohio

Law 360 M&A

Power company Talen Energy Corp. will pay $3.5 billion for two power plants, one in Pennsylvania and the other in Ohio, in a deal with an estimated gross value of $3.8 billion adjusted for tax benefits, Talen has announced.

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PMGC Holdings Inc. Completes Acquisition of CNC Machining Company - AGA Precision Systems LLC

Benzinga

Adds $1.39 Million in Cash-Flow-Positive Revenue from a CNC Machining, Mold Manufacturing, and Specialty Metals Operation Serving the Aerospace, Defense, and Industrial Markets. Adds to PMGC's U.S. Manufacturing Revenue Through a Second Bolt-On Acquisition Under Its Roll-Up Strategy, Bringing Estimated Total Annualized Revenue to Over $2.25 Million.

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Hunt Companies Acquires Controlling Interest in Carter, Strengthening Real Estate Development Platform

Business Wire M&A

EL PASO, Texas & ATLANTA--(BUSINESS WIRE)-- #acquisition--Hunt Companies, Inc. (“Hunt”), an El Paso-based holding company with a focus on real estate, infrastructure and financial services, announced today that it has acquired a majority stake in Carter (“Carter”), a premier real estate investment and development firm headquartered in Atlanta, GA.

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Why Is Stephen Colbert’s ‘Late Show’ Getting Canceled?

NYT M&A

Maybe the “Late Show” decision is purely financial. But after Paramount’s cave over “60 Minutes,” it is hard to trust.

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Top 4 Texas Court Rulings Of 2025: Midyear Report

Law 360 M&A

Texas courts made several high-profile decisions in the first half of 2025, including backing a multibillion-dollar mattress merger, awarding more than $6 million to employees fired by Texas Attorney General Ken Paxton, and granting the state a $1.4 billion data privacy settlement with Google. Here are four of the biggest court rulings in Texas so far this year.

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Use Outsourcing to Implement Making Tax Digital for Income Tax

Accounting Web

Personal tax Tags Making tax digital Outsourcing Practice management

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Sanofi Completes $9.5B Buy Of Blueprint

Law 360 M&A

French multinational pharmaceutical company Sanofi, led by Weil Gotshal & Manges LLP, said Friday that it has completed the up to $9.5 billion acquisition of its U.S. rival Blueprint Medicines Corp., being guided by Goodwin Procter LLP.

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Stephen Colbert Could Never Save Us From Trump

NYT M&A

Mocking Donald Trump will not destroy him.

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BP To Sell US Wind Biz To Greenberg Traurig-Led LS Power

Law 360 M&A

Energy giant BP PLC said Friday that it has agreed to sell its onshore wind business in the U.S. to LS Power, which is being advised by Greenberg Traurig, as it presses ahead with a $20 billion asset disposal program to simplify its group structure.

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More Helpful Updates from Corp Fin

John Jenkins

The updates to the Schedule 13D/G CDIs for the 2023 rule amendments I blogged about earlier this week aren’t the only recent development coming out of Corp Fin that’s relevant to M&A practitioners.

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FTC Nixes Exxon-Pioneer, Chevron-Hess Board Ban Deals

Law 360 M&A

The Biden-era Federal Trade Commission settlements clearing Exxon's purchase of Pioneer and Chevron's acquisition of Hess are no more, after the now Republican-controlled agency said Thursday there was no need to condition acquisition approvals on banning the CEOs of Pioneer and Hess from the boards of the combined companies.

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Stephen Colbert’s ‘Late Show’ Was Losing Millions at CBS Before Cancellation

NYT M&A

CBS could not figure out a path to profitability in an entertainment world increasingly dominated by streaming.

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Chevron Beats Exxon Challenge, Completes $53B Hess Deal

Law 360 M&A

Chevron said Friday that it has completed its $53 billion acquisition of Hess following a favorable arbitral award, resolving a dispute with rival oil majors over Hess' stake in a lucrative Guyana oil block that had threatened to derail the megadeal.

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Chevron Completes Acquisition of Hess Corporation

Business Wire M&A

HOUSTON--(BUSINESS WIRE)--Chevron Corporation (NYSE: CVX) announced today that it has completed its acquisition of Hess Corporation (NYSE: HES) following the satisfaction of all necessary closing conditions, including a favorable arbitration outcome regarding Hess’ offshore Guyana asset. The combined company has one of the most advantaged and differentiated portfolios in the industry, with leading positions in critical energy markets around the world and a high cash margin production profile.

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Norton Rose, Wachtell Guide $321.5M Texas Bank Deal

Law 360 M&A

Norton Rose Fulbright-led Prosperity Bancshares Inc. said Friday it will acquire American Bank, advised by Wachtell Lipton, in an all-stock deal valued at roughly $321.5 million, expanding the Texas lender's footprint in key South and Central Texas markets.

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Lifezone Metals Consolidates Control of the World-Class Kabanga Nickel-Copper-Cobalt Sulfide Project

Business Wire M&A

NEW YORK--(BUSINESS WIRE) - $LZM #BatteryMetals--Lifezone Metals Limited’s (NYSE: LZM) Founder and Chair, Keith Liddell, and Chief Executive Officer, Chris Showalter, today announced that Lifezone has completed a definitive agreement with BHP Billiton (UK) DDS Limited (BHP) to acquire BHP’s 17% equity interest in Kabanga Nickel Limited (KNL), the majority owner of the Kabanga Nickel Project in northwestern Tanzania.

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Taxation With Representation: Wachtell, Slaughter And May

Law 360 M&A

In this week's Taxation With Representation, Blackstone pours billions into data centers and related infrastructure, Waters Corp. and Becton Dickinson look to form a new life sciences powerhouse, Reckitt sells 70% of its Essential Home business to private equity firm Advent, and Chevron completes its acquisition of Hess following a favorable arbitral award.