Sat.May 20, 2023 - Fri.May 26, 2023

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Venture Predation

Harvard Corporate Governance

Posted by Matthew Wansley and Samuel Weinstein (Yeshiva University), on Thursday, May 25, 2023 Editor's Note: Matthew Wansley is an Associate Professor of Law, and Samuel Weinstein is a Professor of Law at Benjamin N. Cardozo School of Law. This post is based on their recent paper , forthcoming in the Journal of Corporation Law. Uber once seemed poised to revolutionize urban transportation.

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Small Business, Big Exit: 5 Tips for Selling Your Small Business

Viking Mergers

Deciding to sell your small business can be a complex journey. So, when it’s time to exit the organization that you put time and effort into growing, you want the process to be as smooth as possible. While no two business sales will look the same, any business owner can benefit from these practical steps to help find the right buyer and secure the best deal possible.

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Harnessing the Power of International Valuation Standards for a Resilient Asia

IVSC

Lim Hwee Hua Vice Chair of the IVSC Board of Trustees A trailblazer in Singapore's political scene, Mrs Lim Hwee Hua made history in 2009 as the nation's first female Cabinet Minister. With a career starting in 1997 as a Member of Parliament, she went on to hold significant positions including Deputy Speaker of Parliament, Minister of State for Finance and Transport, and eventually, a Minister in the Prime Minister’s Office.

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Dialysis Litigation Continues After Supreme Court Ruling

ThomsonReuters

DaVita Inc. v. Marietta Mem’l Hosp. Emp. Health Benefit Plan, 2023 WL 3452353 (S.D. Ohio 2023) A federal trial court has decided the latest installment of a case in which a large dialysis provider sued a group health plan and its TPA for classifying all dialysis providers as “out-of-network,” resulting in a lower reimbursement rate for them than for providers of other medical services.

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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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Unlocking the Investment Potential of “S” in ESG

Harvard Corporate Governance

Posted by Saskia Kort-Chick, AllianceBernstein, on Monday, May 22, 2023 Editor's Note: Saskia Kort-Chick is a Senior Vice President and the Director of ESG Research and Engagement for Responsible Investing at AllianceBernstein. This post is based on her AllianceBernstein memorandum. Related research from the Program on Corporate Governance includes The Illusory Promise of Stakeholder Governance (discussed on the Forum here ) by Lucian A.

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Pfizer’s $43B Pursuit Of Seagen: Q&A With Séverine Piot-Deval

Global Finance

Pfizer’s $31 billion bond sale to fund its $43 billion acquisition of cancer drug maker Seagen is one of the largest in history. Healthcare expert Séverine Piot-Deval discusses the deal with Global Finance.

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How Do You Audit Risk Management?

Internal Audit 360

GUEST BLOG POST A s the saying goes, you can’t audit what you don’t understand. And for auditing complex risk management processes, that idea can hit home for many internal auditors. That doesn’t mean you have to be an expert with years of experience as a risk practitioner to audit risk management, but you do have to know enough about risk management to be able to assess whether it is effective.

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The State of Climate Investing

Harvard Corporate Governance

Posted by Chris Goolgasian and Cheryl Duckworth, Wellington Management, on Sunday, May 21, 2023 Editor's Note: Chris Goolgasian is Director of Climate Research and Cheryl Duckworth is Head of Sustainable Investment at Wellington Management. This post is based on their Wellington memorandum.

Equity 310
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Bunge In Talks With Glencore Regarding Viterra Grain Business: Reports

Benzinga

Bunge Ltd (NYSE: BG ) and Glencore Plc's (OTC: GLNCY ) Viterra grains division reportedly discuss a merger. There is no certainty that Viterra, part-owned by Switzerland-based mining and trading giant Glencore, will be able to reach an agreement on the terms, reported Reuters , citing a person familiar. Full story available on Benzinga.

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The beauty market in 2023: A special State of Fashion report

Mckinsey and Company

The glow of the beauty industry has proved hard to resist, attracting many new companies and investors. Brands must make differentiating choices to find success in this shifting and increasingly competitive landscape.

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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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New Found Gold Corp. Announces Acquisition of Securities of Kirkland Lake Discoveries Corp.

Business Wire M&A

VANCOUVER, British Columbia--(BUSINESS WIRE)--New Found Gold Corp. (“New Found”) reports that on May 25, 2023 (the “Closing Date”), it acquired control of 28,612,500 common shares (each, a “Kirkland Share”) in the capital of Kirkland Lake Discoveries Corp. (“Kirkland”) as consideration pursuant to a property purchase agreement dated February 16, 2023, as amended May 8, 2023, between New Found and Kirkland.

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Diversity, Equity, and Inclusion

Harvard Corporate Governance

Posted by Alex Edmans (London Business School), Caroline Flammer (Columbia University), and Simon Glossner (Federal Reserve Board), on Wednesday, May 24, 2023 Editor's Note: Alex Edmans is a Professor of Finance, Academic Director, Centre for Corporate Governance at London Business School, Caroline Flammer is a Professor of International and Public Affairs and of Climate at Columbia University, and Simon Glossner an Economist at the Federal Reserve Board in the Research and Statistics Division.

Equity 262
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The Year Ahead in Hospitality: Embracing Opportunities, Mitigating Risk

Machen McChesney

Three years after the onset of the coronavirus pandemic, the hospitality industry, like others, is still recovering. Though 2022 saw some significant growth with a public eager to travel for leisure, particularly to locations offering unique experiences, the pandemic has markedly changed business travel patterns and consumer behavior. An ongoing labor shortage and emerging competition from resort hospitality locations have further strained some hospitality markets still adapting to shifting cons

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Fintech in MENAP: A solid foundation for growth

Mckinsey and Company

Fintech in the Middle East and North Africa is burgeoning, thanks to funding increases and revised licensing regimes. Sustaining growth will require concerted effort by businesses and governments.

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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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Comment on The New & Improved Fannie Mae “FRAUDULATOR 2.0” by Baggins

Appraisers Blog

It gets better. Because when you can’t actually pull off detailed comprehensive descriptions and analysis of market value conditions associated with real property, just ask chat gpt your inquiry question and let the artificial intelligence fill out the appraisal report. Dustin beat me to it, of course he did. Because if there is a way to game the system and cheat other people out of their hard working efforts, that guy will find a way.

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Navigating the Current ESG Landscape: Recommendations for the Board and Management

Harvard Corporate Governance

Posted by Martin Lipton, Wachtell Lipton Rosen & Katz, on Tuesday, May 23, 2023 Editor's Note: Martin Lipton is a founding partner of Wachtell, Lipton, Rosen & Katz, specializing in mergers and acquisitions and matters affecting corporate policy and strategy. This post is based on a Wachtell Lipton memorandum by Mr. Lipton and Carmen X. W. Lu.

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Achieving the Right Balance of Working Capital

Machen McChesney

Working capital — the funds your company has tied up in accounts receivable, accounts payable, and inventory — is a critical performance metric. During times of rising inflation and interest rates, managers search for ways to free up cash and eliminate waste. However, determining the optimal amount of working capital can sometimes be challenging.

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A monthly update on the state of the US consumer: May 2023

Mckinsey and Company

Consumers’ views on the economy are diverging—and their behaviors are, too. Here’s the latest data from our ConsumerWise team.

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CBD Provider For Dogs, Cats & Horses Cann American Corp. Acquires Prodigy Health Plus

Benzinga

Cann American Corp. (OTCPK: CNNA ), a holding company specializing in the development of alternative therapeutics, recently finalized its acquisition of Liberty Health Plus , marking a significant milestone for the company. In addition to the completion of the acquisition, the company announced the appointment of Michael Kramer, founder of Liberty Health Plus, to its board of directors.

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Modernization of Beneficial Ownership Reporting Rule Proposal

Harvard Corporate Governance

Posted by Jonathan H. Gaines, David S. Rosenthal, and Christopher Soares, Dechert LLP, on Friday, May 26, 2023 Editor's Note: Jonathan H. Gaines and David S. Rosenthal are Partners and Christopher Soares is an Associate at Dechert LLP. This post is based on their Dechert memorandum. Related research from the Program on Corporate Governance includes The Law and Economics of Equity Swap Disclosure (discussed on the Forum here ) by Lucian Bebchuk; The Law and Economics of Blockholder Disclosure (

Equity 240
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If You're Hiring Independent Contractors, Make Sure They're Properly Handled

Machen McChesney

Many businesses use independent contractors to help keep their costs down — especially in these times of staff shortages and inflationary pressures. If you’re among them, be careful that these workers are properly classified for federal tax purposes. If the IRS reclassifies them as employees, it can be an expensive mistake.

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How to implement transformations for long-term impact

Mckinsey and Company

When it comes to implementing large-scale organizational change, the most successful organizations commit themselves fully to the effort from start to finish.

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Comment on VA Appraisal Request Form at Heart of AIR Violation Class Action by Mike Ford, AGA™

Appraisers Blog

In reply to Fed up. I know what Tidewater is. As to the frequency they fail to provide support, it depends. The point is that it is a routine and accepted (by VA) disclosure of contract amount and an additional opportunity for involved parties to provide any information they may have failed to provide before.

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Murder on the City Express – Who is Killing the London Stock Exchange’s Equity Market?

Harvard Corporate Governance

Posted by Brian R. Cheffins and Bobby V. Reddy (University of Cambridge) , on Tuesday, May 23, 2023 Editor's Note: Brian Cheffins is the S. J. Berwin Professor of Corporate Law, and Bobby V. Reddy is an Associate Professor of Finance at the University of Cambridge. This post is based on their recent paper , forthcoming in The Company Lawyer. There has been much debate surrounding the decline of the U.S. public company.

Equity 216
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Overview of Discontinued Operations Reporting

Machen McChesney

Traditional business models in many sectors have been disrupted by the COVID-19 pandemic, geopolitical uncertainty, rising costs, and falling consumer confidence. If your company is planning a major strategic shift this year, management may need to comply with the updated accounting rules for reporting discontinued operations that went into effect in 2015.

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Growth and resilience through ecosystem building

Mckinsey and Company

Effective ecosystem strategies can deliver valuable near-term benefits as well as generate long-term growth and resilience. Leaders are finding significant benefits already.

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Microsoft's Bid For Activision Blizzard Receives China's Approval, Joins 37 Regulators Worldwide

Benzinga

Microsoft Corp.'s (NASDAQ: MSFT ) $69 billion bid to acquire Activision Blizzard Inc. (NASDAQ: ATVI ) received approval from China's State Administration , marking another milestone in the global regulatory process. This clearance, which was reported by Seeking Alpha and confirmed by IGN, was the latest addition to a group of 37 regulators that have approved the deal, the latest was the European Union.

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Remarks by Chair Gensler before the Inaugural Conference on Emerging Trends in Asset Management

Harvard Corporate Governance

Posted by Gary Gensler, U.S. Securities and Exchange Commission, on Saturday, May 20, 2023 Editor's Note: Gary Gensler is Chair of the U.S. Securities and Exchange Commission. This post is based on his recent public statement. The views expressed in this post are those of Chair Gensler, and do not necessarily reflect those of the Securities and Exchange Commission or the Staff.

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Comment on VA Appraisal Request Form at Heart of AIR Violation Class Action by Spencer Paul

Appraisers Blog

In reply to Jim. I am as well. The sales contract is a piece of market data that needs to be analyzed. Some one signed a contract that they would pay “x” for said residence and putting down “x” in earnest money and/or an actual down payment. The bank is asking if the assets are worth the note being sought at a minimum, yes or no.

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Carving out new territory in lending: A conversation with Pagaya CEO Gal Krubiner

Mckinsey and Company

Pagaya cofounder Gal Krubiner talks about making “life-changing” financial products available to more people, and why starting a business with friends makes sense.

Banking 104
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Edmonton State Bank and Sumner Bank & Trust Announce Merger

Business Wire M&A

EDMONTON, Ky. & GALLATIN, Tenn.--(BUSINESS WIRE)--Edmonton State Bank, a subsidiary of Edmonton Bancshares, Inc., and Sumner Bank & Trust, a Gallatin, Tennessee based bank which is a subsidiary of Sumner Financial Corporation, have announced an agreement to merge. The merger of Sumner Bank & Trust will add three new offices to Edmonton State Bank’s existing fifteen-branch network.

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2022 Asset Stewardship Report: Engagement and Voting

Harvard Corporate Governance

Posted by Benjamin Colton and Michael Younis, State Street Global Advisors, on Thursday, May 25, 2023 Editor's Note: Benjamin Colton is Global Head of Asset Stewardship, and Michael Younis is Vice President of Asset Stewardship at State Street Global Advisors. This post is based on their SSGA memorandum. How We Engage Our Asset Stewardship team has developed our Global Issuer and Stakeholder Engagement Guidelines to increase the transparency of our engagement philosophy, approach, and process

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Comment on VA Appraisal Request Form at Heart of AIR Violation Class Action by Baggins

Appraisers Blog

In reply to Joseph Stachow Jr. Price relations in appraisal reporting is one of the more sophisticated and complex skills an appraiser picks up over time. Geesh, and lenders jump on that like nobodies business if you dare mention a price search filter, even if there is no way this is biased, like a $100k margin on either side, still have to avoid that method.

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Mayer Brown's NY Staff Helps Mentor Teens, Young Adults

Law 360 M&A

Mayer Brown's New York staff is close to wrapping up its second annual mentorship program, where they pair an attorney and a non-attorney staff member with a young person to offer career guidance as part of its partnership with Children's Village.

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