Law 360 M&A

MAY 22, 2023

Broadcast news station network Tegna announced Monday it was terminating its proposed merger with hedge fund Standard General, following the expiration of its financing package and a protracted fight with the Federal Communications Commission.

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Finance 75

Law 360 M&A

DECEMBER 14, 2023

Hedge funds have proposed acquiring Macy's for $5.8 billion, private equity giant KKR is near a deal to buy out healthcare technology company Cotiviti for $11 billion, and investment firm General Atlantic has confidentially filed IPO plans. Here, Law360 breaks down these and other notable deal rumors from the past week.

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Equity Technology 52

Law 360 M&A

AUGUST 29, 2022

billion deal with hedge fund Standard General, arguing that more time is needed to assess any conditions imposed on the deal to mitigate possible harm to the public interest. Two broadcast unions pushed the Federal Communications Commission on Thursday to extend the review period for Tegna's proposed plan to go private in an $8.6

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Law 360 M&A

MARCH 28, 2023

Hedge fund Standard General is tired of waiting on the Federal Communications Commission to make a decision on whether to approve its planned $8.6 billion takeover of broadcast company Tegna, so it's taking the matter to the D.C.

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Law 360 M&A

MARCH 22, 2023

Two broadcast unions accused hedge fund Standard General on Wednesday of a "desperate attempt to bully" the Federal Communications Commission into approving its bid to take TV station chain Tegna private at $8.6

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Harvard Corporate Governance

MARCH 21, 2023

To bring insider trading cases in the absence of a federal statute targeting insider trading, prosecutors have adapted various more general statutes, including the anti-fraud prohibitions in Section 10(b) of the Securities Exchange Act and Rule 10b-5 promulgated thereunder and, increasingly, a potpourri of other federal statutes.

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Law 360 M&A

JUNE 1, 2023

billion plan by hedge fund Standard General to take broadcaster Tegna private, saying there's no need to pursue what would be a purely "academic" inquiry.

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Law 360 M&A

MARCH 3, 2023

Hedge fund Standard General urged an in-house judge at the Federal Communications Commission late Friday to "immediately" let the full FCC vote on an agency order referring questions tied to its $8.6 billion merger deal with Tegna for an evidentiary hearing.

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Law 360 M&A

JANUARY 23, 2023

Standard General's top executive said Monday he's hopeful the Federal Communications Commission will approve the hedge fund's multibillion-dollar deal to take broadcast chain Tegna private after it asked the public to weigh in three times on the plan.

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Harvard Corporate Governance

JULY 10, 2023

Related research from the Program on Corporate Governance includes The Long-Term Effects of Hedge Fund Activism (discussed on the Forum here ) by Lucian Bebchuk, Alon Brav, and Wei Jiang; Dancing with Activists (discussed on the Forum here ) by Lucian A. Gez, Mr. Christopher, Ms. Herrick, Jennifer Chu , Colin J.

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Law 360 M&A

DECEMBER 13, 2022

Jesse Jackson has thrown his weight and that of his social justice organization behind Standard General's planned $8.6 billion takeover of broadcast company Tegna, saying the hedge fund CEO had their full support following a "careful and scrupulous review of his record on diversity and inclusion."

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Law 360 M&A

OCTOBER 28, 2022

Despite assurances that it does not "intend" to cut any jobs, new filings reveal that hedge fund Standard General planned to finance the $8.6 billion takeover of broadcast company Tegna through staff cuts, two unions challenging the deal told the Federal Communications Commission.

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Finance 75

Reynolds Holding

FEBRUARY 8, 2024

Today [February 8], the Commission voted to adopt amendments to Form PF, an important reporting tool whereby the Commission and the Financial Stability Oversight Council (FSOC) receive reporting from private fund advisers. 1] Private funds have evolved significantly in the 13 years since Form PF first was adopted.

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Banking Marketability Equity Finance 45

Law 360 M&A

OCTOBER 6, 2022

billion deal to go private with hedge fund Standard General in a letter to the Federal Communications Commission chairwoman Thursday, urging the agency to carefully scrutinize the deal. House Speaker Nancy Pelosi and a top committee chairman expressed concerns about Tegna Inc.'s

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Law 360 M&A

OCTOBER 3, 2022

billion deal to go private with hedge fund Standard General, four months after a similar request as the agency looks into the agreement's public interest ramifications. The Federal Communications Commission wants more information on Tegna Inc.'s

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Law 360 M&A

JULY 8, 2022

Broadcast giant Tegna and hedge fund Standard General are urging the Federal Communications Commission to grant approvals necessary to complete their $8.6 billion tie-up, calling opponents off the mark in claiming potential public harm.

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Law 360 M&A

AUGUST 2, 2022

billion deal with hedge fund Standard General based on the premise that the move would harm local Tegna employees and consumers. Two major broadcast unions asserted their standing to fight Virginia-based broadcasting giant Tegna's plan to go private in an $8.6

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Law 360 M&A

APRIL 28, 2022

and the members of its board face a shareholder's claims that they violated fraud provisions of federal securities laws in connection with their attempt to sell Tegna to hedge fund Standard General LP in an $8.6 Broadcast company Tegna Inc. billion deal.

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Harvard Corporate Governance

JULY 18, 2022

Roe; The Myth that Insulating Boards Serves Long-Term Value by Lucian Bebchuk (discussed on the Forum here ); and The Long-Term Effects of Hedge Fund Activism by Lucian Bebchuk, Alon Brav, and Wei Jiang (discussed on the Forum here ). That is, strong studies find short-termism, but they generally find the inefficiencies to be small.

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Marketability Finance 197

Law 360 M&A

FEBRUARY 27, 2023

Standard General called Monday for the full Federal Communications Commission to vote now on its planned $8.6

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Harvard Corporate Governance

MAY 20, 2022

Proposed SEC Rule on Private Fund Advisers. Testimony by Chair Gensler at Hearing before the Subcommittee on Financial Services and General Government, U.S. Tags: Disclosure , ESG , Hedge funds , Institutional Investors , Ownership , SEC , Securities regulation , Shareholder activism. Posted by William W.

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Equity Marketability Technology 196

Harvard Corporate Governance

APRIL 1, 2022

The rapidly evolving hedge fund sector is a good example of an industry with widely varying investment styles. We show that the survival of diversity is a consequence of general principles of evolution in the face of risk. more…).

Finance 204

Finance Marketability Technology 204

Law 360 M&A

FEBRUARY 24, 2023

The Federal Communications Commission said Friday it has asked an agency administrative law judge to review some legal issues surrounding hedge fund Standard General's proposed $8.6 billion takeover of broadcast chain Tegna.

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Law 360 M&A

APRIL 4, 2023

Circuit rejected an initial bid from Standard General late Monday that sought to force the Federal Communications Commission to expedite its public interest review of the hedge fund's proposed $8.6 billion plan to take broadcaster Tegna private.

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Law 360 M&A

MARCH 29, 2023

Circuit on Tuesday to let them intervene after hedge fund Standard General asked the court to order the Federal Communications Commission to decide the fate of its $8.6 The Communications Workers of America and other groups urged the D.C. billion acquisition of broadcast company Tegna.

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Law 360 M&A

MARCH 31, 2023

Hedge fund Standard General has urged the D.C. Circuit to keep alive its bid for a court order forcing the Federal Communications Commission to make a decision on whether to approve its planned $8.6

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Brian DeChesare

NOVEMBER 9, 2022

Sales & Trading Exit Opportunities Definition: An S&T “exit opportunity” is a different field that you enter after working in sales & trading for a few years; common examples are hedge funds , proprietary trading , middle office roles , and investor relations. Portfolio Manager at a multi-manager hedge fund ).

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Banking Equity Start-ups Marketability 69

Reynolds Holding

AUGUST 10, 2022

I am pleased to support the proposal because, if adopted, it would improve the quality of the information we receive from all Form PF filers, with a particular focus on large hedge fund advisers. In the decade since, regulators have gained vital insight with respect to private funds through Form PF.

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Treasury Equity Marketability Finance 45

Reynolds Holding

JANUARY 2, 2023

Investment in ESG-oriented mutual funds (green funds), rose globally by 53 percent in 2021 to $2.7 A recent study found that investors are willing, on average, to pay 20 basis points more for an investment in a fund with an ESG mandate as compared with equivalent funds without one ( Baker et al. trillion ( Kishan, 2022 ).

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Systematic Risk Dividends Marketability 53

Reynolds Holding

MAY 3, 2023

Today [May 3], the Commission considers adopting a final rule amending Form PF, an important tool that the Commission uses to oversee private fund advisers. I am pleased to support the amendments because they will improve visibility into private funds, helping protect investors and promote financial stability.

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Private Equity Firm Banking Equity Finance 45

Brian DeChesare

AUGUST 31, 2022

But there might be another equally valid answer: “If you can’t decide, do both and use your combined skills and experience to move into a convertible arbitrage hedge fund.”. For simplicity, I am ignoring the interest, dividends, borrowing costs, and other fees, but this example is the general idea with convertible arbitrage.

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Banking Risk-free Rate Equity Start-ups 64

Harvard Corporate Governance

JULY 28, 2023

Posted by Julie Daum (Spencer Stuart) and Kira Ciccarelli (Diligent Institute), on Thursday, July 27, 2023 Tags: Board of Directors , committees , Environmental proposals , ESG , Oversight , Sustainability Statement by Commissioner Peirce on Public Company Cybersecurity Disclosures Posted by Hester M.

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Reynolds Holding

MAY 6, 2022

It began on a bright note, as his billion-dollar hedge fund stood to profit from a possible settlement in Neiman Marcus’ bankruptcy. [1] Section 1102, [11] take on a fiduciary duty to serve the interests of all general unsecured creditors. [12] Kamensky’s case will only deter hedge funds further.

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Private Equity Firm Capital Structure Equity Marketability 56

Brian DeChesare

JANUARY 19, 2022

Financial Sponsors Group Definition: In investment banking, the Financial Sponsors Group (FSG) advises private equity firms, hedge funds, sovereign wealth funds, and pension funds on capital issuances and transactions involving their portfolio companies. So what’s the difference?”. normal, non-wealthy individuals).

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Private Equity Firm Banking Equity Finance 72

Reynolds Holding

OCTOBER 17, 2023

Over the past 30 years, private equity firms and hedge funds have reshaped the landscape of corporate ownership. workforce, while, in 2021, hedge funds managed assets exceeding a staggering $4 trillion. We observe that employees at companies under external active ownership generally receive lower compensation.

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Private Equity Firm Equity Capital Structure 52

Reynolds Holding

AUGUST 21, 2022

Activist hedge funds will soon likely have greater leverage in proxy contests, thanks to a new rule from the Securities and Exchange Commission. It takes effect on September 1, 2022, and approximately 20 percent of Russell 3000 issuers will have to apply it at their 2022 annual general meetings in the event of a contested election.

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Finance Firm Value Marketability 59

ThomsonReuters

JANUARY 6, 2022

Those sponsors had asked whether offering a professionally managed asset allocation fund with a private equity component in an individual account plan (such as a 401(k) plan) would necessarily violate ERISA. These concerns led the DOL to clarify the 2020 letter’s limits in a supplemental statement.

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Equity Compliance 97