November, 2023

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Business Valuation: Differing Reasons Will Dictate Methodology

BV Specialists

I hear the phrase “the value is the value” oftentimes when discussing appraisal work with those not familiar with the profession. With machinery and equipment appraisals, the primary differences in value are fairly straightforward. They tend to correlate to the approach you most heavily rely upon and the definition of value that's estimated. Fair Market Value - Installed will drive a considerably higher value than any type of liquidation premise.

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Cyber Governance: Growing Expectations for Information Security Oversight and Accountability

Harvard Corporate Governance

Posted by Subodh Mishra, Institutional Shareholder Services, on Monday, November 6, 2023 Editor's Note: Subodh Mishra is Global Head of Communications at Institutional Shareholder Services (ISS) Inc. This post is based on an ISS Corporate Solutions memorandum by Liam Hardy, Senior Associate, ISS Corporate Solutions. Digital technology impacts businesses in myriad ways.

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Music Licensing Giant BMI Sells to Private Equity Firm

NYT M&A

Broadcast Music Inc., one of the major performing rights organizations in the United States, collected $1.57 billion and distributed $1.47 billion for its 2022 fiscal year.

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In digital and AI transformations, start with the problem, not the technology

Mckinsey and Company

For digital and AI transformations to succeed, companies need to understand the problems they want to solve and rewire their organizations for continuous innovation

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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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Automating your way to success: How automation can help relieve accounting staff shortages

ThomsonReuters

Jump to: Reflect on your current tax workflow Use automation to boost staff engagement and retention Unlock growth opportunities With staffing shortages of epic proportions, the accounting industry is facing a crossroads. In recent years, more tax professionals have exited the industry than entered it, which presents the potential for detrimental effects across the business and financial world.

Start-ups 112
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Navigating the New CECL (ASC 326) Standard

Redpath

November 21, 2023 - Accounting standard ASC 326 (also known as CECL) is meant to increase balance sheet transparency and requires entities to recognize estimated credit losses expected to occur over the remaining life of many financial assets. It is important for entities to understand how the new standard may affect them and how to get in compliance.

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US Public Company Board Diversity in 2023: How Corporate Director Diversity Can Contribute to Board Effectiveness

Harvard Corporate Governance

Posted by Merel Spierings, The Conference Board, on Friday, November 24, 2023 Editor's Note: Merel Spierings is Senior Researcher at The Conference Board ESG Center in New York. This post relates to Corporate Board Practices in the Russell 3000, S&P 500, and S&P MidCap 400: Live Dashboard, a live online dashboard published by The Conference Board and ESG data analytics firm ESGAUGE , in collaboration with Debevoise & Plimpton , the KPMG Board Leadership Center , Russell Reynolds Asso

Equity 317
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Jezebel, the Oral History: ‘There Was This Riotous Sense of Fun’

NYT M&A

The site defined an era of feminism for millions of readers. According to its editors and writers, it was also an exhilarating place to work.

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Seeing around corners: How to excel as a chief of staff

Mckinsey and Company

A chief of staff can be instrumental to a CEO’s success while also advancing their own career. Here are eight pieces of advice from those who have mastered the role.

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UK to pare back new takeover screening powers, says deputy PM

Financial Times M&A

Oliver Dowden says revisions to National Security and Investment Act will lower burden on business

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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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Net Working Capital in an M&A Transaction

Redpath

The purchase price in an M&A transaction is often thought about as the enterprise value , which is the adjusted EBITDA times a given multiple (that varies across different industries and sectors and is based on growth potential, market share, and competitive landscape); however, there is another important figure that is often forgotten about until the end: net working capital.

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Disney To Acquire Remaining Stake In Hulu: Here's How Much Streaming Platform Could Be Worth In Deal With Comcast

Benzinga

A battle between two media giants over the valuation of a leading streaming platform is almost at its end with a deal announced by Walt Disney Co. (NYSE: DIS ) to acquire the stake in Hulu it did not already own. Here are the details. What Happened: Disney shares struggled in 2023 , but the company may have a catalyst or an item that needed more clarity before finally putting it to rest.

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2023 Annual ESG Preparedness Report

Harvard Corporate Governance

Posted by Frederik Otto, Jeannette Lichner and Adélaïde Levassor, The Sustainability Board, on Monday, November 27, 2023 Editor's Note: Frederik Otto is Executive Director, Jeannette Lichner is Senior Advisor, and Adélaïde Levassor is Advisor of The Sustainability Board (TSB). This post is based on the 2023 Annual ESG Preparedness Report by Mr. Otto, Ms.

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Six Flags Merges With Cedar Fair, a Rival Amusement Park

NYT M&A

The deal would generate more than $3 billion in revenue for the companies, they projected in a statement. The merger comes after years of financial challenges for Six Flags.

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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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Global economics intelligence executive summary, October 2023

Mckinsey and Company

The global outlook is unchanged despite weaker readings in trade, consumer confidence, and business activity. Still-elevated inflation and interest rates are acting as headwinds to economic growth.

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Algorithmic Pricing Agents and Price-Fixing Facilitators: Antitrust Law's Latest Conundrum

Mogin Rubin M&A

It is an application of artificial intelligence (“AI”) that many businesses, agencies, legislators, lawyers, and antitrust law enforcers around the world are only beginning to confront. It is also among the top concerns of in-house counsel across industries. Competitors are increasingly setting prices through the use of communal, AI-enhanced algorithms that analyze data that are private, public, or a mix of both.

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Setting a Foundation for Business Growth

Redpath

The strength and performance of any edifice depend on a sound foundation. Your business may not be a physical structure, but your growth strategy needs the same type of well-constructed foundation in order to succeed. As a business owner, building a strategic growth roadmap that pinpoints where you are and where you are going will help you achieve the future you want for your company.

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EXCLUSIVE: Game-Changer In Cannabinoid Market? OBX Acquires Nucl3o

Benzinga

Open Book Extracts (OBX), a cannabinoid product manufacturer, has inked a term sheet to acquire Nucl3o, a processor of high-purity cannabinoid isolates, Benzinga Cannabis has learned exclusively. This acquisition marks a significant move in the cannabinoid industry, as it combines OBX's large-scale production capabilities with Nucl3o's expertise in cannabinoid ingredient manufacturing, elevating both companies' global distribution.

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Hispanics Underrepresented on U.S. Boards Despite Recent Gains

Harvard Corporate Governance

Posted by Subodh Mishra, Institutional Shareholder Services, on Thursday, November 16, 2023 Editor's Note: Subodh Mishra is Global Head of Communications at Institutional Shareholder Services (ISS) Inc. This post is based on an ISS Corporate Solutions memorandum by Sandra Herrera Lopez, PhD, Vice President, ESG Content & Data Analytics at ISS Corporate Solutions.

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How David Zaslav Blew Up Hollywood

NYT M&A

A merger put him in the driver’s seat at Warner Brothers, one of the industry’s biggest studios. It has been a wild ride.

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Reframing employee health: Moving beyond burnout to holistic health

Mckinsey and Company

A new McKinsey Health Institute survey across 30 countries offers insights into how organizations can help create a workplace that prioritizes physical, mental, social, and spiritual health.

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Private equity resorts to buying back companies after IPO flops

Financial Times M&A

EQT, Cinven and General Atlantic among those involved in take-private deals for businesses floated two years ago

Equity 133
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Maximizing Your Year-End Gifting Strategy

Redpath

As the year swiftly comes to a close, many individuals are considering year-end tax plans, including gifting strategies. If you are not, you should. Making informed decisions about gifts can help mitigate your tax liability and maximize the benefits of your gifting plans—whether they include gifts to nonprofits, family members, other entities, or individuals.

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Why Global Investment Firm KKR's Shares Are Shooting Higher Today

Benzinga

KKR & Co. Inc. (NYSE: KKR ) has agreed to acquire the remaining 37% stake of leading insurance company Global Atlantic, increasing its ownership to 100%. In 2021, KKR completed a strategic transaction that valued Global Atlantic at approximately $4.7 billion by acquiring a controlling 60% interest. Global Atlantic's assets under management have more than doubled, increasing from $72 billion in 2020 to $158 billion today, KKR said.

Equity 105
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SEC Clawback Rules: Practical Considerations and FAQs

Harvard Corporate Governance

Posted by Keith Halverstam, Maj Vaseghi, and Jenna Cooper, Latham & Watkins LLP, on Saturday, November 4, 2023 Editor's Note: Keith Halverstam , Maj Vaseghi , and Jenna Cooper are Partners at Latham & Watkins LLP. This post is based on a Latham memorandum by Mr. Halverstam, Ms. Vaseghi, Ms. Cooper, Joel Trotter , Holly Bauer , and Colleen Smith.

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Disney Says It Will Take Full Control of Hulu

NYT M&A

The company will pay at least $8.61 billion to Comcast, which owned a 33 percent stake of the popular streaming service.

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How to develop geopolitical resilience

Mckinsey and Company

Geopolitical tensions have been rising, creating significant risks for companies, especially those operating internationally. Here is how to plan ahead.

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Year-end tax planning strategies: How to set your accounting firm up for success

ThomsonReuters

Jump to: Prioritize staffing and bandwidth Harness the power of technology Shift your value proposition to advisory As the end of the year approaches, many forward-looking accounting firms are not only guiding clients through the intricacies of year-end tax planning, but they are also setting aside time to prepare for the year ahead. In the first of our two-part year-end planning series, we’ll delve into three key ways accounting firms can prepare for next year and ensure sustained futu

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Best Practices for Out-of-State Mortgage Lending

N Contracts

Mortgage Company Best Practices for Lending Outside Your State Following the 2008 financial collapse, Dodd-Frank granted the newly formed Consumer Financial Protection Bureau (CFPB) enforcement authority over mortgage lending at the federal level.

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Healthcare Insurance Giant Cigna Mulls Offloading Medicare Advantage Business

Benzinga

Cigna Corporation (NYSE: CI ) is reportedly contemplating the sale of its Medicare Advantage business and working with an investment bank to explore options for a business that could be worth billions, according to Reuters. The move follows a decade of expansion in the sector , including the acquisition of HealthSpring for $3.8 billion in 2011, and could signal Cigna's response to a challenging reimbursement environment.

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Regulatory Spotlight on Private Funds

Harvard Corporate Governance

Posted by Meaghan Kelly, David Blass and Michael Osnato, Simpson Thacher & Bartlett LLP, on Sunday, November 19, 2023 Editor's Note: Meaghan Kelly , David Blass , and Michael Osnato are Partners at Simpson Thacher & Bartlett LLP. This post is based on a Simpson Thacher memorandum by Ms. Kelly, Mr. Blass, Mr. Osnato, Nicholas Goldin , Michael Wolitzer , and Marc Berger.

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Jezebel to Be Resurrected by Paste Magazine

NYT M&A

The pioneering feminist website is being sold to Paste by G/O Media, which had shut down the site this month.

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Gen AI: A guide for CFOs

Mckinsey and Company

How should CFOs approach generative AI—enterprise-wide and in the finance function—and what can they do right now to rapidly climb the learning curve?

Finance 129
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SAS 145 is here. Are you prepared?

ThomsonReuters

Jump to: What does SAS 145 address? 9 steps to apply SAS 145 Managing SAS 145 compliance What does SAS 145 address? At a high level, SAS 145 addresses a company’s system of internal control and information technology. It also revises the definition of significant risk so that auditors will be focused on where the risks lie on a spectrum of inherent risk.