Harvard Corporate Governance

FEBRUARY 19, 2025

Posted by Jeffrey N. Gordon (Columbia Law School), on Wednesday, February 19, 2025 Editor's Note: Jeffrey N. Gordon is Richard Paul Richman Professor of Law at Columbia Law School. This post is based on his recent paper. This paper argues that the prevailing corporate governance regime in the United States has produced a level of mergers and acquisition activity that is higher than the social optimum because of a high-powered incentive for a CEO to exit through target-side M&A, the contempor

Marketability 178

Marketability 178

IVSC

FEBRUARY 27, 2025

From left: Alexander Aronsohn, Grazyna Wiejak-Roy, Diane Dumashie, Nicholas Talbot, Peter Ache, James Kavanagh, Richard Grover The International Valuation Standards Council (IVSC) has signed a Memorandum of Understanding (MoU) with the International Federation of Surveyors (FIG), marking a significant step towards closer collaboration in real estate valuation and market transparency.

Banking 130

Banking Marketability Intangible Assets Business Valuation 130

Global Finance

FEBRUARY 5, 2025

Indonesia is attracting foreign investors with its growing middle class, young demographics, and abundant resources. The newly-admitted member of the BRICS bloc of developing economies presents companies with a stable alternative to China, low tariffs to the 677 million people of the Association of Southeast Asian Nations (ASEAN) and a 25-year history of democratic transition.

Banking 108

Banking Dividends Marketability Finance 108

Benzinga

FEBRUARY 19, 2025

Shares of lifestyle apparel company known for brands like Wrangler and Lee, Kontoor Brands, Inc. (NYSE: KTB ), are trading lower in premarket on Wednesday. Kontoor Brands has announced its acquisition of Helly Hansen , a brand specializing in outdoor and workwear. Under the terms of the deal, Kontoor will acquire full ownership of Helly Hansen from Canadian Tire Corporation.

EBITDA 97

EBITDA Equity 97

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.

Marketability

The Guardian M&A

FEBRUARY 9, 2025

Experts say potential buyer would want only about 250 of those outlets, raising prospect of significant job losses At least half of WH Smiths 500 high street stores could be closed by any new owner, industry experts say, raising the prospect of sweeping job losses at the ailing retailer. Predictions for the eventual size of the chain, which employs about 5,000 people in its high street shops, range from no more than 250 stores.

83

83

Gross Mendelsohn

FEBRUARY 19, 2025

With a new presidential administration in place, were already seeing significant shifts in policy. Whether related to tax law, economic trends or industry regulations, these changes will likely impact business valuations including those of privately-held companies. Attorneys involved in divorce cases, shareholder disputes, estate and trust matters, and mergers and acquisitions will benefit from understanding how evolving policies could influence business valuations.

Business Valuation 80

Business Valuation 80

Reynolds Holding

FEBRUARY 3, 2025

The traditional view of corporate stakeholders is rapidly becoming obsolete in our hyperconnected world. We can no longer neatly categorize people into simple roles as shareholders, employees, or customers. Today’s reality is far more fluid – employees also own the companys stock, buy its products, and live in communities affected by its environmental practices.

Technology 81

Technology 81

Appraisers Blog

FEBRUARY 17, 2025

Could Home Price Gains Be Past Their Peak? Home inventory highest, demand lowest in five years, report finds. Last month brought the highest housing supply since January 2020. But buyers arent biting, feeling economic uncertainty and perhaps as some sellers also do that home prices could be at a peak. According to a report released February 13 from real estate brokerage Redfin, last month saw the highest home inventory nationally since 2020 and simultaneously the lowest buyer demand, as mortg

Appraisal 74

Appraisal Marketability 74

Sun Acquisitions

FEBRUARY 17, 2025

Mergers and acquisitions (M&A) can be a powerful tool for business growth. Still, the success of such deals often hinges on the successful integration of different corporate cultures. When two companies with distinct values, beliefs, and work styles merge, it can create significant challenges that can hinder the achievement of synergies and long-term success.

65

65

Brian DeChesare

FEBRUARY 19, 2025

With investment banking internship recruiting starting earlier and earlier, you also need to win pre-banking internships earlier. People debate the best options: Search fund internships , private equity internships , boutique bank internships, real estate internships, and even wealth management internships have their pros and cons. But some argue that venture capital internships beat many of these options or should at least be near the top of the list.

Banking 59

Banking Start-ups Finance Venture Capital Fund 59

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

Corporate Finance

Equidam

FEBRUARY 16, 2025

When raising venture capital, founders often get fixated on pricethe final figure on the term sheet that determines how much the investor pays for their stake in the company. Its an easy metric to compare against peers, to boast about in press releases, and to benchmark against industry trends. But price, while important, is not what you should fixate on when negotiating a funding round.

Discounted Cash Flow 64

Discounted Cash Flow Start-ups Marketability Equity 64

Harvard Corporate Governance

FEBRUARY 19, 2025

Posted by William B. Chandler III, Amy Simmerman, and Brad Sorrels, Wilson Sonsini Goodrich & Rosati, on Wednesday, February 19, 2025 Editor's Note: William B. Chandler III , Amy Simmerman , and Brad Sorrels are Partners at Wilson Sonsini Goodrich & Rosati. This post is based on their Wilson Sonsini memorandum, and is part of the Delaware law series ;links to other posts in the series are available here.

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124

Mckinsey and Company

FEBRUARY 26, 2025

Gen AI has increased uncertainty about workforce skills and capabilities. Organizations that harness AI-driven innovation find it makes strategic thinking and talent planning easier.

145

145

Appraisers Blog

FEBRUARY 18, 2025

I have not read all the comments on the subject. But , after 40 years in the appraisal business, this discrimination issue just reinforces how politically WEAK the appraisal profession still is. The professional is a easy for “target for blames” The appraisal professional gets the blame for everything that goes wrong within the mortgage lending business.

Appraisal 91

Appraisal 91

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.

Marketability

NYT M&A

FEBRUARY 10, 2025

The billionaire is leading a group of investors in the unsolicited offer, which complicates the start-ups plan to change its nonprofit status.

Start-ups 145

Start-ups Mergers & Acquisitions 145

RNC

FEBRUARY 19, 2025

Understanding Goodwill Valuation in Business Goodwill is a critical intangible asset that represents the reputation, brand strength, customer relationships, and competitive advantage of a business. Unlike physical assets, goodwill is not easily measurable, yet it plays a key role in business valuation, financial reporting, and mergers & acquisitions (M&A).

Intangible Assets 52

Intangible Assets Business Valuation Compliance Marketability 52

Equidam

FEBRUARY 27, 2025

Valuation is one of the most misused words in venture capital Valuation is an exercise that seeks to understand the intrinsic value of a company. This is in contrast to more common market-based approaches that set a price based on comparison to a pool of similar companies. Price is what you’ll end up seeing on term sheets and press releases, however it is calculated.

Start-ups 52

Start-ups Marketability B2B Finance 52

Harvard Corporate Governance

FEBRUARY 17, 2025

Posted by Alessandra Murata, Michael Bergmann, and Michael Mencher, Cooley LLP, on Monday, February 17, 2025 Editor's Note: Brad Goldberg and Alessandra Murata are Partners, and Michael Bergmann is a Special Counsel, at Cooley LLP. This post is based on a Cooley memorandum by Ms. Murata, Mr. Bergmann, Mr. Mencher, Beth Sasfai , Brad Goldberg , and Megan Arthur Schilling.

Equity 113

Equity 113

Mckinsey and Company

FEBRUARY 12, 2025

While innovation is critical to all companies growth, the most successful organizations use it to both expand their lead within their industries and disrupt new ones, even in uncertain times.

Corporate Finance 141

Corporate Finance Finance 141

Appraisers Blog

FEBRUARY 17, 2025

In reply to Mark Hastert. ‘Nepo hires.’ That’s the new liberal slander for ‘family businesses’ They’re really reaching deep lately with innovative trolling. And the word is totally not applicable to the appraisal industry. You think we’re getting special favors and insider connections, lofty promotions because our parents manage anything?

Appraisal 92

Appraisal Start-ups 92

NYT M&A

FEBRUARY 10, 2025

Tucker Carlson, Nancy Grace, Megyn Kelly and Piers Morgan are among the clients of Red Seat Ventures, which now joins Rupert Murdochs empire.

Mergers & Acquisitions 144

Mergers & Acquisitions 144

Benzinga

FEBRUARY 18, 2025

Asbury Automotive Group Inc (NYSE: ABG ) shares are trading lower on Tuesday. The company inked a deal to acquire The Herb Chambers Companies in a $1.34 billion deal. The transaction covers Herb Chambers’ 33 dealerships, 52 franchises, and three collision centers, representing $2.9 billion in 2024 revenue. The transaction, expected to close in the late second quarter of 2025, is subject to customary conditions and will be funded through credit facilities, mortgage proceeds, and cash.

Equity 52

Equity 52

Peak Business Valuation

FEBRUARY 17, 2025

The candy retail industry attracts a wide variety of customers looking to satisfy their sweet tooth. Businesses in this industry benefit from consistent demand and consistent market trends. Whether you plan to buy , grow , or sell a candy store , obtaining a business valuation is a pivotal step. As part of a candy store valuation, a business appraiser often uses valuation multiples for a candy store.

Business Valuation 52

Business Valuation Fair Market Value EBITDA Appraisal 52

Harvard Corporate Governance

FEBRUARY 9, 2025

Posted by Jason Halper, Peter Marshall, and Sara Brauerman, Vinson & Elkins LLP, on Sunday, February 9, 2025 Editor's Note: Jason Halper , Peter Marshall , and Sara Brauerman are Partners at Vinson & Elkins LLP. This post is based on a Vinson & Elkins memorandum by Mr. Halper, Mr. Marshall, Ms. Brauerman, and Anna Boos,and is part of the Delaware law series ;links to other posts in the series are available here.

Equity 113

Equity Private Equity Firm 113

Mckinsey and Company

FEBRUARY 14, 2025

The working model is far less important than the work environment leaders create. Five core practices can help organizations implement a policy that best fits their culture.

140

140

Appraisers Blog

FEBRUARY 11, 2025

Oh great, another day, another junk fee! Because nothing says “we appreciate you” like slapping appraisers with a new $19.99 monthly charge for the privilege of using a platform they didnt even choose in the first place. Its like being forced into a gym membershipexcept instead of getting fit, you just get poorer. Appraisers are understandably fuming.

Appraisal 76

Appraisal 76

NYT M&A

FEBRUARY 4, 2025

The arrival of DeepSeek shows us the competitive weaknesses of Americas tech giants.

Start-ups 143

Start-ups Mergers & Acquisitions 143

Benzinga

FEBRUARY 19, 2025

Colgate-Palmolive Company (NYSE: CL ) is broadening its footprint in the pet food industry through the purchase of Care TopCo Pty Ltd , the parent company of Prime100 , an Australian fresh pet food brand. Prime100, founded in 2014 and located in Melbourne, Australia, produces both refrigerated and shelf-stable pet food, which is distributed through pet care retailers and other Australian markets.

Marketability 52

Marketability Equity 52

Peak Business Valuation

FEBRUARY 9, 2025

Are you looking to buy an advertising agency ? Getting a valuation for buying an advertising agency should be one of your first steps. Buying a business can be difficult and stressful. An advertising agency valuation provides clarity on the value of an advertising agency. Using this information can help you buy an advertising agency and maximize its value after the sale.

Business Valuation 52

Business Valuation Fair Market Value Finance Appraisal 52

Harvard Corporate Governance

FEBRUARY 18, 2025

Posted by Amy R. Dreisiger, Joseph A. Hearn, and Dalia O. Blass, Sullivan & Cromwell LLP, on Tuesday, February 18, 2025 Editor's Note: Amy R. Dreisiger , Joseph A. Hearn , and Dalia O. Blass are Partners at Sullivan & Cromwell LLP. This post is based on a Sullivan & Cromwell memorandum by Ms. Dreisiger, Mr. Hearn, Ms. Blass, H. Rodgin Cohen , Robert W.

Corporate Finance 113

Corporate Finance Compliance Finance 113

Mckinsey and Company

FEBRUARY 25, 2025

A flurry of activity and new ideas leads to a period of interpretation. In the meantime, growth expectations remain unchanged, while central banks begin to diverge in their policy rate decisions.

Banking 128

Banking Corporate Finance Finance 128

Appraisers Blog

FEBRUARY 19, 2025

I really don’t think it is going to change much of anything. Honestly private work should be done without a form and in a narrative format to remove the unnecessary data points that don’t impact what the market is doing and why. If you insist on using a form, create your own through word, or adobe acrobat. I get that it is time consuming, but better is just that, better.

Appraisal 67

Appraisal Marketability 67

NYT M&A

FEBRUARY 14, 2025

Bret Taylor, the chairman of OpenAIs board, said the artificial intelligence company was not for sale. Mr. Musk and other investors had offered $97.4 billion earlier this week.

Start-ups 126

Start-ups Mergers & Acquisitions 126

Internal Audit 360

FEBRUARY 27, 2025

GUEST BLOG POST: H aving read more than 4,000 internal audit reports over the years, I can honestly say Ive never read a single one Id wished was longer. Most of the time, Im wishing it were over halfway through the so-called “executive summary.” Most internal auditorsand othersdrafting audit reports completely forget about their readers.

Compliance 52

Compliance Start-ups 52