Thu.Jul 13, 2023

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Reopening of Advance Notice Window Requires Activists to Show “Radical Shift” at Company

Harvard Corporate Governance

Posted by Scott A. Barshay, Andre G. Bouchard, and Laura C. Turano, Paul, Weiss, Rifkind, Wharton & Garrison LLP, on Thursday, July 13, 2023 Editor's Note: Scott A. Barshay , Andre Bouchard , and Laura C. Turano are Partners at Paul, Weiss, Rifkind, Wharton & Garrison LLP. This post is based on a Paul Weiss memorandum by Mr. Barshay, Mr. Bouchard, Ms.

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Comment on Has FNMA Gotten Too Big to Control? by Baggins

Appraisers Blog

In reply to Kim DeFilippis. I’m struggling to understand why they would not simply sell. Unless they’re somehow confident that the heloc brings them more cash than an open market sale? I ran into a couple a year or so back whom sold at the actual peak, and simply rented out their neighbors investment property, with plans to buy again a year or two later after some market deflation happened.

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Florida Law Restricts Use of Certain ESG Factors by Asset Managers and Financial Institutions

Harvard Corporate Governance

Posted by Betty M. Huber, Sarah E. Fortt, and Joshua N. Holian, Latham & Watkins LLP, on Thursday, July 13, 2023 Editor's Note: Betty M. Huber , Sarah E. Fortt , and Joshua N. Holian are Partners at Latham & Watkins LLP. This post is based on a Latham memorandum by Ms. Huber, Ms. Fortt, Mr. Holian, Austin J. Pierce , Charlie Beller , and Karmpreet (Preeti) Grewal.

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Comment on Dazzled by Wizardry, Federal Mortgage Regulators Ignore Zillow Debacle by Baggins

Appraisers Blog

In reply to Julie Friess. READ THIS! This morning I was reviewing the AVM regulatory standards, fsb, open letter writing period. Please take the time to write a letter people. So far only one letter posted on their site, but the read is quite remarkable. What happens behind the scenes, how much people are additionally put at risk, when companies switch to only automatic valuation models instead of using licensed human appraisers.

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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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Nasdaq Removes Activision Blizzard From Index: Is Microsoft Merger Now 'Highly Probable'?

Benzinga

The tech and video game sectors were rocked this week when the Federal Trade Commission's request to halt a $69-billion merger in the space was turned down. The news could lead to the merger ultimately being approved and might have kickstarted stock market index shuffling. What Happened : Technology giant Microsoft Corporation (NASDAQ: MSFT ) announced a $69-billion acquisition of Activision Blizzard (NASDAQ: ATVI ) in January 2022, valuing shares of the video game company at $95 each.

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Three ways AI can elevate your tax workflow

ThomsonReuters

If you’re part of a small or medium-sized tax and accounting firm, you may think artificial intelligence (AI) solutions are solely designed for large organizations – but think again. To succeed in an increasingly competitive landscape, forward-thinking accounting firms of all sizes are harnessing the power of AI to automate their tax workflows, thus boosting efficiency, empowering staff, and wowing clients.

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Mallory Ruling Leaves Personal Jurisdiction Deeply Unsettled

Law 360 M&A

In Mallory v. Norfolk Southern Railway, a closely divided U.S. Supreme Court recently rolled back key aspects of its 2017 opinion in Daimler AG v. Bauman that limited personal jurisdiction, leaving as many questions for businesses as it answers, say John Cerreta and James Rotondo at Day Pitney.

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Comment on Has FNMA Gotten Too Big to Control? by Baggins

Appraisers Blog

In reply to Mike. This morning I was reviewing the AVM regulatory standards, fsb, open letter writing period. Please take the time to write a letter people. So far only one letter posted on their site, but the read is quite remarkable. What happens behind the scenes, how much people are additionally put at risk, when companies switch to only automatic valuation models instead of using licensed human appraisers.

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FTC Wants Stop To Microsoft, Activision Deal Pending Appeal

Law 360 M&A

The Federal Trade Commission on Thursday asked a California federal judge to stop Microsoft Corp.'s $68.7 billion merger with Activision Blizzard from going through while it asks the Ninth Circuit to undo a Tuesday decision against an early block for the transaction.

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Comment on Has FNMA Gotten Too Big to Control? by Baggins

Appraisers Blog

In reply to Kimberly DeFilippis. Interesting. Is there a delay in the way they post the comment letters online? There were like four different options to click to submit an avm comment letter, one at the one site, and three options at the other site. I figured, probably would comment at both sites, one seems like a three agencies in one comment, but you still have to click which one.

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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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Frieze Fair Empire Adds Armory Show and Expo Chicago

NYT M&A

Both fairs will continue to operate under their existing brands with their current teams.

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Comment on Has FNMA Gotten Too Big to Control? by Kimberly DeFilippis

Appraisers Blog

This is my letter ~ I am a certified residential real estate appraiser. I have been licensed and appraising in 3 states for over 17 years. A perfect example of a a horrible AVM is that created by Zillow. Their ZEstimate is an AVM that is incorrect ~ even for the property owned by their CEO! FNMA is a GSE that is in conservatorship. Their business practices are fraudulent and now CFPB wants to allow them to use an AVM to value properties they use as collateral?

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Will Microsoft be able to close $69bn deal for Activision Blizzard?

The Guardian M&A

Appeal by competition watchdog in US is latest twist in complex saga involving trio of regulators The US competition watchdog is appealing against a ruling that has said Microsoft could push ahead with its $69bn (£53bn) acquisition of the Call of Duty creator Activision Blizzard to create a video gaming powerhouse. Confirmation of the appeal is the latest twist in a complex regulatory saga that involves a trio of powerful regulators scrutinising Microsoft’s biggest-ever takeover – with differing

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Understanding the Internal Audit Value Chain to Enhance Performance

Audit Board

As internal auditors, we are experts at analysing process design, policy implementation, and project execution. We readily grasp the big picture and identify potential improvements to organisational governance, risk management, and internal control. However, we are less good at applying these same skills to our own work. We know how to conduct a value-for-money audit, but use only rudimentary measures of our own economy, efficiency, and effectiveness.

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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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How to Estimate Target Value: 19 Questions to Ask

M&A Leadership Council

The Art of M&A® / Due Diligence: Precedent Transactions Analysis An excerpt from The Art of M&A, Fifth Edition: A Merger, Acquisition, and Buyout Guide by Alexandra Reed Lajoux Editor’s Note: A growing number of M&A professionals are pursuing the Certified M&A Specialist , or CMAS ® credential. To support these certification candidates preparing for the CMAS ® exam, we are pleased to highlight a monthly feature column, CMAS ® Corner, by noted author and expert, Alexandra Reed

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Business Valuation 7: Essential Concepts and Terminologies Explained

RNC

In the dynamic world of business, valuation plays a pivotal role in understanding the worth and potential of a company. Business valuation encompasses a range of methodologies, techniques, and terminologies that are crucial for both investors and business owners. In this blog, we will delve into seven essential concepts and terminologies related to business valuation.

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What You Need to Know about Acqui-Hires

National Law Review M&A

The term “Acqui-hire” is commonly used to describe an M&A transaction where the buyer is predominantly interested in acquiring key employees of the target and not specifically the unde

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IMAX Poised for Consistent Profitability and International Growth, Analysts Maintain Positive Outlook with Upside Potential

Benzinga

Imax Corp (NYSE: IMAX ) disclosed a proposal to acquire 96.3 million shares in its Hong Kong-listed subsidiary, IMAX China, for around HK$10 per share in cash ($124 million). The offer represents around 49% premium. The deal will likely unlock annual public company cost savings of around $2 million and tax efficiencies. Benchmark analyst Mike Hickey reiterates Imax with a Buy and a $23 price target.

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How to Estimate Target Value: 19 Questions to Ask

M&A Leadership Council

The Art of M&A® / Due Diligence: Precedent Transactions Analysis An excerpt from The Art of M&A, Fifth Edition: A Merger, Acquisition, and Buyout Guide by Alexandra Reed Lajoux Editor’s Note: A growing number of M&A professionals are pursuing the Certified M&A Specialist , or CMAS ® credential. To support these certification candidates preparing for the CMAS ® exam, we are pleased to highlight a monthly feature column, CMAS ® Corner, by noted author and expert, Alexandra Reed

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Deal-maker or deal-breaker: the legal ins and outs of using AI in M&A

Deal Law Wire

Deals involving AI bring about specific and unique issues for consideration during the due diligence process. Understanding the specific challenges created by AI is important for companies to ensure that the AI technology holds genuine value and would not raise red flags during the course of a transaction. Some important advice for companies looking to purchase AI in a recent Lexpert article authored by our Head of Technology and Co-Head of Information Governance, Privacy and Cybersecurity Imran

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Investor Portal: Must-have Tool for Investors

Financial Analyst Insider

Investor portals are far from being just a fancy add-on. In 2023, they are more of a necessity in the high-speed world of modern investing The post Investor Portal: Must-have Tool for Investors appeared first on Financial Analyst Insider.

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How to Value an Apparel Wholesaler

Peak Business Valuation

The apparel wholesale industry has experienced a decline in revenue over the past several years. This is due to intense competition from the e-commerce industry as well as poor economic conditions. Although conditions are improving, industry revenue will continue to decrease over the next several years. As such, there are many challenges that come with buying , growing , or selling an apparel wholesaler.

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European Financial Services M&A hit nine-year high in H1

Accountancy Today

The European financial services industry announced a nine-year deal high in the first half of 2023, with 382 deals across the region, compared with 337 in the same period in 2022, a 13% year-on-year rise, according to the latest EY financial services M&A analysis. The number of European insurance deals increased from 106 in H1 2022 to 131 in H1 2023, accompanied by a fall in total deal value: from £7bn in H1 2022 to £4.2bn in H1 2023.

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IMAX Plans To Fully Acquire Chinese Subsidiary For $124M

Benzinga

Imax Corp (NYSE: IMAX ) disclosed a proposal to acquire 96.3 million shares in its Hong Kong-listed subsidiary, IMAX China, for around HK$10 per share in cash ($124 million). The offer represents around 49% premium to the 30-trading day average closing price. Post-buyout, IMAX will fully own IMAX China, and Daniel Manwaring will continue as IMAX China's CEO.

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Microsoft Entra brings exciting opportunity to build cyber resilience

Avanade

Microsoft announced that Microsoft Entra is expanding into Security Service Edge and that Azure Active Directory (Azure AD) is becoming Microsoft Entra ID – what does this mean for you?

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Canada's Trees And 420 Investments To Merge In A Reverse Takeover

Benzinga

Trees Corporation (NEO:TREE) has entered into a business combination agreement dated July 12, 2023 with 420 Investments Ltd. , pursuant to which the company and 420 will amalgamate , constituting a reverse takeover of the company by 420 under the policies of Cboe Canada , the new business name of the NEO Exchange. The amalgamated company resulting from the completion of the cransaction will be named " 420 Investments Ltd.

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Global Fintech Industry Report

Benchmark Report

The global fintech (or financial technology) market was valued at $194 billion in 2022. From 2023, it expects to grow at a compound annual growth rate (CAGR) of 16.8% to reach $492.81 billion by 2028.

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Adobe's $20B Figma Deal: UK Competition Watchdog Launches In-Depth Investigation

Benzinga

The Competition and Markets Authority (CMA), the U.K.'s competition watchdog, has launched a detailed investigation into Adobe Inc's (NASDAQ: ADBE ) $20 billion acquisition of Figma , a cloud-based design platform after Adobe declined to propose any solutions to allay the regulator's concerns. The deal, one of the largest takeovers of a private software maker, has a targeted completion in 2023.

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Judge Denies FTC’s Motion for Preliminary Injunction in Microsoft’s Acquisition of Activision

National Law Review M&A

Bruce D. Sokler Payton T. Thornton Jurisdiction: All Federal 9th Circuit (incl.

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ExxonMobil Buys Denbury In $4.9B Stock Deal, Boosts Low Carbon Solutions Business

Benzinga

Exxon Mobil Corp (NYSE: XOM ) disclosed a deal to acquire Denbury Inc (NYSE: DEN ) for $4.9 billion, representing $89.45 per share as of its closing price on July 12, 2023. As per the deal, Denbury shareholders will receive 0.84 shares of XOM for each of its shares. In 2022, XOM expressed preliminary interest in Denbury, which exited bankruptcy in 2020.

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The Maker Movement: Empowering people to create and accelerate value

Avanade

Enabling a Microsoft Power Platform Maker Movement will inspire behavioral and cultural change, by creating communities that solve problems and create business value.

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Why Stratasys Shares Are Popping Today

Benzinga

Stratasys Ltd. (NASDAQ: SSYS ) shares are trading higher by over 12% after receiving another enhanced proposal from 3D Systems Corp (NYSE: DDD ). Under the revised offer, DDD will acquire Stratasys for $7.50 in cash and 1.5444 newly issued shares of its common share per ordinary share of SSYS. The revised proposal (15% better than the previous offer) represents a value per Stratasys share of $24.07 based on DDD's closing share price as on July 12, 2023, representing a premium of 62% to Full

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What really works when it comes to digital and AI transformations?

Mckinsey and Company

McKinsey’s Rewired distills the lessons from successful digital and AI transformations so companies can build competitive advantage.

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Energy Company Exxon Mobil Announces Acquisition of Denbury

Benzinga

Exxon Mobil (NYSE: XOM ) has announced an acquisition of Denbury (NYSE: DEN ) that is expected to be completed in Q4 of 2023. Under the terms of the agreement, Exxon Mobil has agreed to give Denbury $4.90 billion in stock in exchange for DEN stock. About The Companies Involved ExxonMobil is an integrated oil and gas company that explores for, produces, and refines oil around the world.

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