February, 2024

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Capital One Said to Be in Talks to Acquire Discover

NYT M&A

The proposed deal would combine two of the largest credit card companies in the United States.

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Tornetta v. Musk: Post-Trial Opinion

Harvard Corporate Governance

Posted by Anna Restuccia (Harvard Law School), on Thursday, February 1, 2024 Editor's Note: This post provides the text of the post-trial opinion regarding the case between Richard J. Tornetta on behalf of Tesla, Inc. against Elon Musk, decided by the Delaware Court of Chancery on January 30, 2024. This post is part of the Delaware law series ; links to other posts in the series are available here.

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ValuAsia Connect Webinar Series: Environment, Social and Governance

IVSC

Introduction Welcome to ValuAsia Connect, a webinar series specifically tailored for valuation professionals and stakeholders throughout Asia. Co-organised by the International Valuation Standards Council (IVSC) and the Institute of Valuers and Appraisers, Singapore (IVAS), this series seeks to address the evolving landscape of valuation practices in the Asia-Pacific region.

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Beyond the hype: New opportunities for gen AI in energy and materials

Mckinsey and Company

Generative AI can create additional value from other forms of AI and analytics—and the energy and materials sector is uniquely well-positioned to benefit from these advancements.

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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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Why is the $180bn games industry shedding thousands of staff?

The Guardian M&A

Despite healthy sales, publishers such as Epic Games and Activision Blizzard are making hundreds of employees redundant – which may radically reshape the industry It is widely agreed that 2023 was a stellar year for video games. The Legend of Zelda: Tears of the Kingdom , Baldur’s Gate 3 , Alan Wake 2 , Marvel’s Spider-Man 2 … barely a week passed without some blockbuster hit or independent gem.

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The Seven Samurai: How Big Tech Rescued the Market in 2023!

Musings on Markets

I was planning to finish my last two data updates for 2024, but decided to take a break and look at the seven stocks (Apple, Amazon, Alphabet, Meta, Microsoft, Nvidia and Tesla) which carried the market in 2023. While I will use the "Magnificent Seven" moniker attached by these companies by investors and the media, my preference would have been to call them the Seven Samurai.

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Why good boards make bad decisions

Harvard Corporate Governance

Posted by Maria Castañón Moats, Paul DeNicola, and Catie Hall, PricewaterhouseCoopers LLP, on Sunday, February 11, 2024 Editor's Note: Maria Castañón Moats is a Leader, Paul DeNicola is a Principal, and Catie Hall is a Director at the Governance Insights Center, PricewaterhouseCoopers LLP. This post is based on their PwC memorandum. Introduction A widely accepted notion is that corporate boards function like well-oiled machines.

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AMA: Dustin Siggins, founder of Proven Media Solutions

Vested

We spoke to Dustin Siggins, the founder of Proven Media Solutions , about how to juggle family and working lives, and why doing a handful of things well is the route to success.

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Strengthening fraying ties: The Global Cooperation Barometer 2024

Mckinsey and Company

Global cooperation is key to better human lives. Our new barometer, developed with the World Economic Forum, can help leaders track trends, monitor critical outcomes, and act to increase cooperation.

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If you are the Gardener of Governance, take out the weeds….

Norman Marks

A few years ago, my friend Dr. Rainer Lenz started talking about the internal auditor as the “gardener of governance”. In an article in EDPACS, Rainer explained (with my emphasis): Governance has been central to what internal auditing has been aspiring to do for a long time.

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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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Exploring key 2024 tax bill proposals

ThomsonReuters

As we step into a new year, the taxation realm is abuzz with discussions surrounding the Tax Relief for American Families and Workers Act of 2024. However, amidst this spotlight, there are other tax proposals quietly gaining momentum. In this blog, we will dive into the details of four notable tax laws that have been introduced into legislation and deserve our attention.

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Adam Neumann Wants to Take Over WeWork

NYT M&A

Adam Neumann, the co-working company’s onetime chief, has sought for months to buy the now-bankrupt business, but accuses its current leaders of stonewalling him.

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Executive Compensation Considerations for the 2024 Annual Meeting and Reporting Season

Harvard Corporate Governance

Posted by Joseph Yaffe, Page Griffin, and Shalom Huber, Skadden, Arps, Slate, Meagher & Flom LLP, on Thursday, February 15, 2024 Editor's Note: Joseph Yaffe , Page Griffin , and Shalom Huber are Partners at Skadden, Arps, Slate, Meagher & Flom LLP. This post is based on a Skadden memorandum by Mr. Yaffe, Mr. Griffin, Mr. Huber, Regina Olshan , Erica Schohn , and Joseph Penko.

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FTC Puts Labor Focus In Merger Basket For First Time

Law 360 M&A

Higher consumer prices and reduced choice are no longer the only reasons the Federal Trade Commission will challenge mergers after the agency contested Kroger's planned $24.6 billion purchase of Albertsons based in part, for the first time ever, on allegations the deal will reduce competition for employees.

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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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Adopting AI at speed and scale: The 4IR push to stay competitive

Mckinsey and Company

AI has brought the Fourth Industrial Revolution to an inflection point, and manufacturers must choose a path forward: innovate, accelerate, or follow fast.

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Nickel Industry Cutbacks To Support Prices As Miners Brace For Long Slump: '2030s Will Likely Be More Attractive'

Benzinga

Lower production among the world's largest nickel miners in response to a price slump for the metal end up supporting the market. That’s according to Russian metals giant Nornickel. London Metal Exchange nickel prices are down around 30% in the year through Friday, primarily driven by burgeoning supply from Indonesia — the world's largest producer of the metal.

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AMA: Donna Airey, founder of HomeGrown PR

Vested

As HomeGrown PR ’s founder and sole employee, Donna Airey talks to us about the importance of determination, starting a business during a global pandemic and championing the underdog.

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Texas Man Pleads Guilty to Insider Trading After Overhearing Wife’s Work Calls

NYT M&A

The man made $1.7 million in profits after buying and selling stocks in a company that his wife’s employer, BP, acquired, prosecutors said.

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The 2023 OECD Corporate Governance Factbook

Harvard Corporate Governance

Posted by Daniel Blume and Mats Isaksson, OECD, on Saturday, February 3, 2024 Editor's Note: Daniel Blume is the Head of the Corporate Governance Unit, and Mats Isaksson is a Board Member of the Swedish Corporate Governance Board and former Head of Division in the Organization for Economic Co-operation and Development (OECD)’s Directorate for Financial and Enterprise Affairs.

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With PE Exits Set To Surge, Buyers Must Act Quickly, Wisely

Law 360 M&A

Private equity exits are expected to rebound this year after a decade low in 2023, as investment time horizons expire and investors demand returns, but strategic buyers will need to act quickly and keep a finger on the market's pulse as competition heats up.

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Organizational health is (still) the key to long-term performance

Mckinsey and Company

McKinsey’s latest findings on organizational health demonstrate that it remains the best predictor of value creation and a sustainable source of competitive advantage in today’s global marketplace.

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Broadcom Sees Boost from Tiger Global's Entry, Signaling Confidence in AI Semiconductor Market

Benzinga

Tiger Global expanded its investment portfolio by acquiring its first stake in the California-based semiconductor manufacturer Broadcom Inc (NASDAQ: AVGO ) in the final quarter of 2023. Simultaneously, Tiger Global aggressively expanded its involvement in the semiconductor industry. Notably, it amplified its holdings in Taiwan Semiconductor Manufacturing Co (NYSE: TSM ) and Lam Research Corp (NASDAQ: LRCX ) by 47.69% and 8.9%, respectively, MarketWatch cites regulatory filings.

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AMA: Fred Thompson, founder of Thirst

Vested

We sat down with Thirst founder and CEO, Fred Thompson, whose business is on a mission to help startups improve retention and engagement, to talk about startup challenges, morale and building relationships with fellow founders.

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The BT Tower, a Once-Futuristic London Landmark, Will Become a Hotel

NYT M&A

The tower, once used to send telecom traffic, has been sold and will be transformed by the company that turned the TWA terminal at Kennedy Airport into a hotel.

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The Corporate Investment Benefits of Mutual Fund Dual Holdings

Harvard Corporate Governance

Posted by Rex Wang Renjie (Vrije Universiteit Amsterdam), Patrick Verwijmeren (Erasmus School of Economics), and Shuo Xia (Halle Institute for Economic Research), on Friday, February 2, 2024 Editor's Note: Rex Wang Renjie is an Assistant Professor of Finance at the Vrije Universiteit Amsterdam and Tinbergen Institute; Patrick Verwijmeren is a Professor of Corporate Finance at the Erasmus School of Economics; and Shuo Xia is an Assistant Professor of Finance at Halle Institute for Economic Rese

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Comment on Should Property Data Collectors Be Licensed? by jaydee

Appraisers Blog

When it comes to measuring, viewing, stating facts I know about a property; I trust me before anyone else. I don’t trust Realtors to correctly measure and report (they use to but now rely on the assessors), assessors (they don’t measure either), blue prints – many areas that shouldn’t be counted are. If you all go along with this, you’d be opening yourself up for a lawsuit and/or complaint.

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What to expect from medtech in 2024

Mckinsey and Company

Our medtech predictions for the year ahead were inspired by conversations with more than 200 industry leaders and informed by McKinsey’s latest decade-ahead medtech report.

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Industrials Company Owens-Corning Announces Acquisition of Masonite International

Benzinga

Owens-Corning (NYSE: OC ) has announced an acquisition of Masonite International (NYSE: DOOR ) that is expected to be completed 2024-H1. Under the terms of the agreement, Owens-Corning has agreed to give Masonite International $3.90 billion in cash in exchange for DOOR stock. About The Companies Involved Owens-Corning Inc is a manufacturer of glass fiber utilized in composites and building materials.

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Spotlighting Women in Advisory Practice: “Create a culture where everyone is happy,” says Alicia Shaul, CPA firm entrepreneur

ThomsonReuters

Alicia Shaul ’s path to accounting was less than traditional. As an undergrad, she majored in political science and pre-law. She decided to skip law school and instead took a job as a bookkeeper, finding her chosen profession and going back to school to earn her CPA. Once, one of Shaul’s professors spoke about the importance of business development, saying that if you ever want to become a partner in a firm, you need to become a rainmaker and start bringing in your own work.

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Yandex Reaches $5 Billion Deal to Exit Russia

NYT M&A

Yandex, often called “Russia’s Google,” said it reached a deal to sell off its assets in the market where it made its fortune, after the war in Ukraine upended its operations.

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Compensation Design Calls for Radical Simplification

Harvard Corporate Governance

Posted by Charles G. Tharp, HR Policy Association, on Sunday, February 18, 2024 Editor's Note: Dr. Charles G. Tharp is Senior Advisor, Research and Practice of the Center On Executive Compensation and Executive VP at the HR Policy Association. This post is based on his HR Policy Association memorandum. Related research from the Program on Corporate Governance includes Executive Compensation as an Agency Problem and Pay Without Performance: The Unfulfilled Promise of Executive Compensation both b

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Comment on Should Property Data Collectors Be Licensed? by Dave

Appraisers Blog

Russell give us a break, he spent too much time, calling up people and asking for their hearsay opinions on unverified data. Use the raw data you have and stop relying on unattributed opinions that are rarely based in fact, but based on peoples memories. That is not what we get paid to do. Take the raw data analyze it and don’t take third-party hearsay, bad habit!

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The equity story you need for the long-term investors you want

Mckinsey and Company

Sophisticated investors are more likely to afford a company more time to let its strategy play out, even during volatility. But first, they need a clear equity story.

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Webull To Go Public With SPAC Merger: What Investors Need To Know

Benzinga

Digital investment platform Webull Corporation is going public via a SPAC merger announced Wednesday. The news comes years after reports that Webull was nearing an IPO to go public. What Happened: The digital investment company will merge with publicly listed SPAC SK Growth Opportunities Corporation (NASDAQ: SKGR ). The deal values the digital investment platform company at an enterprise value of $7.3 billion.