Mon.Mar 04, 2024

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House to Consider Capital Formation Bills

JD Supra: Mergers

On March 5, 2024, the House will consider capital formation related legislation, H.R. 2799. This was originally introduced in April 2023 and reported out in July 2023. It is comprised of 19 separate bills. The House Financial Services Committee heard testimony on these bills in 2023, access my testimony on several of these bills.

Capital 297
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Razor and Perch merge, raise $100M on a $1.7B valuation as more roll-ups consolidate

TechCrunch: M&A

Just days after the bankruptcy of Thrasio, two other significant players in the world of e-commerce aggregators are merging and raising some extra money to shore up their business and double down on a model it still believes has teeth. Berlin’s Razor Group has acquired U.S.-based Perch, and on top of this it has raised […] © 2024 TechCrunch.

Valuation 248
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New York State’s LLC Transparency Act to Complement the Federal CTA

JD Supra: Mergers

New York State’s LLC Transparency Act, that will come into effect December 21, 2024, complements the Federal Corporate Transparency Act by requiring New York limited liability companies and foreign limited liability companies registered to do business in New York to separately report their beneficial ownership information to the New York Department of State.

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More On FTC Challenges Kroger-Albertsons Deal: New Merger Guidelines Applied

Deal Lawyers

Last week, John blogged about the FTC’s challenge of Kroger’s proposed acquisition of Albertsons — and specifically, the FTC’s criticism of the divestiture plan the parties devised to address antitrust concerns. As John noted, courts are sometimes more sympathetic to these plans.

Mergers 133
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15 Modern Use Cases for Enterprise Business Intelligence

Large enterprises face unique challenges in optimizing their Business Intelligence (BI) output due to the sheer scale and complexity of their operations. Unlike smaller organizations, where basic BI features and simple dashboards might suffice, enterprises must manage vast amounts of data from diverse sources. What are the top modern BI use cases for enterprise businesses to help you get a leg up on the competition?

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Controlling Stockholder Exercising Voting Power as Stockholder to "Change the Status Quo" Owes Fiduciary Duties

JD Supra: Mergers

The Background: After unsuccessfully trying to convince the special committee not to implement a plan to liquidate a business line, which the controlling stockholder believed would destroy value, the controlling stockholder used its voting power to: (i) adopt a bylaw amendment imposing procedural requirements on the committee's liquidation plan that did not technically foreclose the plan and (ii) remove two board members (which also removed them from the committee) and fill the board vacancies.

Business 167

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What Exactly Must A Board Approve When It Approves A Merger?

JD Supra: Mergers

Last Friday, John Jenkins wrote about another momentous ruling by Chancellor Kathaleen St. J. McCormick. In Sjunde AP-Fonden v. Activision Blizzard, Inc., 2024 WL 863290 (Del. Ch. Feb. 29, 2024), she ruled.

Mergers 167
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Bitcoin tops $65,000 as it nears 2021 all-time high

CNBC: Investing

The price of bitcoin rose to start the week, edging even closer to its all-time high after the rally took a breather over the weekend.

IT 145
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European Competition Law Newsletter – March 2024

JD Supra: Mergers

EU Foreign Subsidies Regulation: 100 Days in and the First Detailed Investigation - The obligation to notify certain large M&A transactions to the European Commission for clearance under the EU Foreign Subsidies Regulation (FSR) has applied since 12 October 2023. There is a similar notification obligation for certain large public procurements.

M&A 161
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JetBlue and Spirit Call Off Their Merger

The New York Times: Mergers, Acquisitions and Dive

JetBlue said it would pay Spirit $69 million to terminate the $3.8 billion deal, which had been blocked by federal antitrust regulators.

Mergers 139
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Top 3 Banking Secrets to Stay Relevant with Gen Z Consumers

Speaker: Brian Muse-McKenney, Chief Revenue Officer & Matt Simester, Cards and Payments Expert

In today’s world of social media, dating apps, and remote work, businesses risk becoming irrelevant (or getting "ghosted") if they fail to meet the evolving needs of Gen Z consumers. Credit cards with flexible payment options, especially for young adults with little-to-no credit history, are a particularly important and valuable solution for this generation.

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Earnout Provisions: When Litigation Arises and How to Avoid It

JD Supra: Mergers

The use of earnout provisions, which buyers and sellers often use to bridge differing views of value, is on the rise, especially in the private equity and corporate venture capital markets. This White Paper examines how courts have addressed such provisions when disputes arise and strategies that buyers and sellers can take to protect themselves.

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This analyst predicted the Nikkei would cross 40,000. Here's where he thinks it'll go next

CNBC: Investing

Japan's Nikkei 225 smashed through the 40,000 level on Monday, soaring past another milestone to a new record high.

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Securities industry rallies hard against ESMA’s progressive settlement penalties suggestion

The TRADE

Industry associations have told European regulators that there is no basis for increasing penalties for settlement fails beyond their current form and have warned of the unintended consequences of doing so. The European Securities and Markets Authority (ESMA) published a consultation paper in December 2023 on the CSDR penalty regime seeking input on amendments which may include cash penalties that increase with the length of the settlement fail.

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Money market funds saw record inflows even as stocks continued their climb to fresh highs

CNBC: Investing

Money market funds, which have yields still above 5%, saw total assets hit $6.06 trillion for the week ended Feb. 28, said the Investment Company Institute.

Funds 106
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Enhance Customer Value: Unleash Your Data’s Potential

The complexity of financial data, the need for real-time insight, and the demand for user-friendly visualizations can seem daunting when it comes to analytics - but there is an easier way. With Logi Symphony, we aim to turn these challenges into opportunities. Our platform empowers you to seamlessly integrate advanced data analytics, generative AI, data visualization, and pixel-perfect reporting into your applications, transforming raw data into actionable insights.

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Forecasting generative AI in 2024: ‘It’s more about actually leveraging it versus just playing with it’

PE Hub

The impact traditional and generative AI will have on private equity dealmaking is still a question in 2024. The post Forecasting generative AI in 2024: ‘It’s more about actually leveraging it versus just playing with it’ appeared first on PE Hub.

IT 87
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This Goldman portfolio of lean and mean stocks has trounced the market the past 2 decades

CNBC: Investing

Goldman introduced an asset-light and asset-heavy basket, and found that the leaner companies outperformed the latter group over the past 20 years.

Portfolio 101
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Fonds de solidarité FTQ’s JAMP to buy Pharmalab’s manufacturing facility in Quebec

PE Hub

The Levis-based facility ceased operations in August 2023. The post Fonds de solidarité FTQ’s JAMP to buy Pharmalab’s manufacturing facility in Quebec appeared first on PE Hub.

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Goldman says the run is done in the hottest AI play in the market today

CNBC: Investing

This popular artificial intelligence play may be nearing the end of its red-hot run, according to Goldman Sachs.

IT 110
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Predictions You Can Rely On: How Data Drives Successful Financial Forecasting

Speaker: Robbie Bhathal, Founder & CEO, and Matthew Acalin, Head of Credit Intelligence

In today's volatile financial environment, how confident are you in your company’s financial forecasting? To get the most accurate cash predictions that will lead to long-term financial survival, real-time data is critical. Innovative cash management strategies can lead to better credit opportunities, more sustainable growth, and long-term financial prosperity.

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AEI snaps up manufacturer Calca Solutions

PE Hub

Kirkland & Ellis LLP served as legal advisor and FMI Capital Advisors served as advisor to Calca Solutions and AE Industrial Partners. The post AEI snaps up manufacturer Calca Solutions appeared first on PE Hub.

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Here are JPMorgan's favorite stocks heading into March

CNBC: Investing

JPMorgan shares its top stocks list for March, including three new additions.

Stock 126
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Eagle Merchant Partners-backed Eskola acquires roofing and waterproofing firm J.R. Jones Roofing

PE Hub

Eskola is a Tennessee-based commercial roofing and waterproofing company. The post Eagle Merchant Partners-backed Eskola acquires roofing and waterproofing firm J.R. Jones Roofing appeared first on PE Hub.

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Monday's analyst calls: Big Ferrari downgrade, ride-sharing stock to surge 40% from here?

CNBC: Investing

A major car stock and a pharmaceutical giant were part of the early morning analyst chatter Monday.

Stock 112
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Deliver Mission Critical Insights in Real Time with Data & Analytics

In the fast-moving manufacturing sector, delivering mission-critical data insights to empower your end users or customers can be a challenge. Traditional BI tools can be cumbersome and difficult to integrate - but it doesn't have to be this way. Logi Symphony offers a powerful and user-friendly solution, allowing you to seamlessly embed self-service analytics, generative AI, data visualization, and pixel-perfect reporting directly into your applications.

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Soundcore-backed D&D taps Pfeifer as president

PE Hub

In his role as president, Pfeifer will lead the development and expansion of the D&D platform, including organic growth initiatives and strategic acquisitions. The post Soundcore-backed D&D taps Pfeifer as president appeared first on PE Hub.

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Morgan Stanley thinks this little-known autoimmune biotech stock can surge more than 40%

CNBC: Investing

Kyverna began trading on the Nasdaq on February 8, when it jumped 56% to reach a market cap of $1.4 billion.

Trading 103
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BV-backed Imagenet adds Mudunuri and Sengupta to C-suite

PE Hub

Based in Tampa, Florida, Imagenet is a provider of digital transformation, contact center and claims adjudication services for health plans. The post BV-backed Imagenet adds Mudunuri and Sengupta to C-suite appeared first on PE Hub.

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Simplifying Firewall Management: Cisco Defense Orchestrator Nears FedRAMP® Authorization

Cisco: M&A

Cisco continues its focus on FedRAMP ® Authorization for our government customers with yet another solution, Cisco Defense Orchestrator (CDO) , which has now achieved FedRAMP In-Process status.

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Using Data & Analytics for Improving Healthcare Innovation and Outcomes

In the rapidly evolving healthcare industry, delivering data insights to end users or customers can be a significant challenge for product managers, product owners, and application team developers. The complexity of healthcare data, the need for real-time analytics, and the demand for user-friendly interfaces can often seem overwhelming. But with Logi Symphony, these challenges become opportunities.

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WindRose snaps up care delivery platform CardioOne

PE Hub

WindRose is providing up to $100 million of additional capital to support CardioOne's ongoing growth. The post WindRose snaps up care delivery platform CardioOne appeared first on PE Hub.

Capital 78
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People Moves Monday: Redburn Atlantic, LGIM, DWS and more…

The TRADE

Redburn Atlantic has expanded its UK and European execution business with two new heads of sales trading. Tony Atkins was appointed UK head of sales trading. Atkins joined Redburn Atlantic in 2004 as a sales trader having previously served for eight years at Morgan Grenfell and two years at Marathon Asset Management. Alongside his appointment, Redburn Atlantic sales trader Luc Demoulin was appointed EU head of sales trading.

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Platinum Equity to sell matting provider Yak to United Rentals for $1.1bn

PE Hub

The transaction is expected to close in the first quarter of 2024. The post Platinum Equity to sell matting provider Yak to United Rentals for $1.1bn appeared first on PE Hub.