Fri.Jun 07, 2024

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FTC Loss in Hospital Merger Shows Failing Firm Defense is Alive and Well

JD Supra: Mergers

While finding this to be the “rare case” where a hospital’s imminent failure justified its acquisition by a competitor, Judge Kenneth Bell denied the Federal Trade Commission’s motion for a preliminary injunction to enjoin Novant’s acquisition of two hospitals in the Charlotte, NC area.

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Bain to take K-12 education software provider PowerSchool private in $5.6B deal

TechCrunch: M&A

Education software provider PowerSchool is being taken private by investment firm Bain Capital in a $5.6 billion deal. © 2024 TechCrunch. All rights reserved. For personal use only.

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Decoding Delaware Series LLCs: Maximizing Benefits and Minimizing Risks

JD Supra: Mergers

What is a Series LLC? In 1996, Delaware was the first state to introduce and permit the formation of a Series LLC. A Series LLC is an entity structure that stands as an alternative to setting up multiple individual LLCs. Within a Series LLC multiple segregated series or cells are created within a single LLC with horizontal liability shields between each series.

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Disclosure Schedules: What Are They All About?

Deal Lawyers

A few weeks ago, I mentioned that I was drawn to cases addressing M&A disclosure schedules, and that probably resulted in some perverse way from how much I hated working on them when I was a junior associate.

M&A 124
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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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Delaware Chancery Court Issues Precedential Decision Dismissing Claims Challenging “De-SPAC” Merger Disclosures

JD Supra: Mergers

The Delaware Court of Chancery’s recent decision in In re Hennessy Capital Acquisition Corp. IV Stockholder Litigation,1 marks the Chancery Court’s first total dismissal of a complaint alleging breaches of fiduciary duties in connection with disclosures relating to a merger transaction involving a special purpose acquisition company (SPAC) and establishes precedent that should aid the defense of future claims.

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Blakes Competitive Edge™: June 2024 Update

JD Supra: Mergers

Welcome to the June issue of Blakes Competitive Edge, a monthly publication of the Blakes Competition, Antitrust & Foreign Investment group. Blakes Competitive Edge provides an overview of recent developments in Canadian competition and foreign investment law, including updates on enforcement activity by the Canadian Competition Bureau (Bureau), recent initiatives and key trends.

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CBS. MTV. How Will Paramount’s Shari Redstone Rule On Our Cultural Future?

The New York Times: Mergers, Acquisitions and Dive

Shari Redstone will decide the fate of Paramount and the future of some of America’s most recognized cultural icons.

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Nevada Supreme Court Follows Delaware In Overruling Gentile v. Rosette

JD Supra: Mergers

The line between a direct and derivative action is often indistinct and hence the object of controversy. In 2017, the Nevada Supreme Court held that a class action lawsuit should be dismissed for failure to plead a direct rather than a derivative claim. Parametric Sound Corp. v. Eighth Jud. Dist. Ct., 401 P.3d 1100 (Nev. 2017). The Court did allow the plaintiffs to replead "equity expropriation " claims that might have been considered direct under the Delaware Supreme Court's holding.

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Fireside Friday with… State Street Global Advisors’ Khursheda Fazylova

The TRADE

How would you describe the dynamic of the trading desk [at State Street Global Advisors]? At State Street Global Advisors, we operate in a fast-paced environment. For the desk to be successful, we all have to be comfortable navigating highly dynamic markets. One has to constantly adapt to rapidly changing conditions, make quick decisions, and execute with as minimal a footprint as possible.

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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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District Court Denies FTC Request to Block Novant’s Purchase of Hospitals from CHS — Purchase Can Go Forward

JD Supra: Mergers

In February, 2023, Novant Health and Community Health Systems (CHS) entered into an Asset Purchase Agreement pursuant to which Novant agreed to acquire Lake Norman Regional Medical Center (LNR) and Davis Regional Psychiatric Hospital (Davis) and related assets in North Carolina from CHS for $320 million. Immediately thereafter, the Federal Trade Commission (FTC) conducted an extensive merger review, resulting in its concluding that the effect of the transaction may be substantially to lessen.

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Securely Connect Everything Everywhere with a Unified SASE Platform

Cisco: M&A

We rely on connections with everyone and everything. But secure networking can be challenging in a distributed world of people, places, and things across premises to the cloud, which can ultimately impact the user experience. Learn what Cisco is doing to help customers securely connect everything everywhere through the latest enhancements to our SASE solution.

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Highlights on the Reality in the Middle Market Today

JD Supra: Mergers

On May 7, 2024, Morrison Foerster’s New York City office co-hosted a Private Markets Pop-Up with Kayo Conference Series, an event that brought together professional women across the private credit and private equity markets for curated networking, educational content, and a supportive community atmosphere.

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The utilities sector is up 10% in 2024. These four names still have room to run, Morningstar says

CNBC: Investing

Enthusiasm around powering the artificial intelligence revolution is breathing new life into utilities this year. Morningstar likes these four stocks.

Utilities 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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Security, the cloud, and AI: building powerful outcomes while simplifying your experience

Cisco: M&A

Read how Cisco Security Cloud Control prioritizes consolidation of tools and simplification of security policy without compromising your defense.

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How recent elections are shaking up investments in emerging markets like India and Mexico

CNBC: Investing

Stocks in India and Mexico saw big swings this week as election results seemed to catch some traders off guard.

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Credit Suisse agrees to sell 67% stake in Credit Suisse Investment Partners to BANTLEON

The TRADE

Credit Suisse has signed an agreement to sell its majority stake in Credit Suisse Investment Partners (CSIP), owned by Credit Suisse Asset Management. Credit Suisse currently holds a 67% stake in the business line. CSIP segment manages funds and associated mandates – including convertible bond funds – with a total of CHF 1 billion in assets under management.

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Nvidia is one of the most overbought stocks on Wall Street. Here are the rest

CNBC: Investing

CNBC Pro subscribers can see the most overbought and oversold names this week.

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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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Asset managers proceed with caution despite overwhelmingly successful T+1 transition

The TRADE

The industry has been quick to hail the transition to T+1 settlement for US equities a success, voicing a sentiment that can certainly be considered accurate for the ‘flip the switch’ moment in the opening days of the cycle shortening. The lack of major issues and positive data signals on affirmation and fail rates will come as a huge sigh of relief to the industry, which is benefitting from an over-preparedness strategy and its highly alert, round-the-clock ‘war room’ and ‘command centres’.

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Buy these stocks where AI is becoming core to the investment thesis, Morgan Stanley says

CNBC: Investing

These stocks with a rising exposure to artificial intelligence could see continued outperformance in 2024, according to Morgan Stanley.

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Titan AM’s ETF and FX head of trading departs for junior PM and trading role

The TRADE

Alex Livingstone, formerly head of trading for ETFs and FX at Titan Asset Management has joined Titan Investment Solutions as a junior portfolio manager and trader, according to an announcement on social media. Titan Investment Solutions is the investment arm of the Titan Wealth group and offers investment management, asset servicing and distribution solutions for the wealth management industry.

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Japón funciona con máquinas expendedoras. Pronto millones quedarán obsoletas

The New York Times: Banking

Los nuevos billetes de yen que se introducirán este verano no serán compatibles con muchas máquinas de las que dependen diversos negocios, como las populares tiendas de ramen.

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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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UBS says this clothing stock is one of its top picks and has 40% upside

CNBC: Investing

PVH, parent of the Calvin Klein and Tommy Hilfiger brands, should be able to overcome macroeconomic headwinds and see strong earnings ahead, UBS said.

IT 60
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FOCUS Investment Banking Represents Chenega Corporation in its Acquisition of SecuriGence LLC

Focus Investment Banking

Washington, DC (June 7, 2024) – FOCUS Investment Banking (“FOCUS”), a national middle market investment banking firm providing merger, acquisition, divestiture, and corporate finance services, announced today that Chenega Corporation (“Chenega”) has acquired SecuriGence LLC. FOCUS represented Chenega in this transaction. Chenega is a leading Alaska Native village corporation with diverse capabilities within the federal government contracting marketplace supporting defense, intelligence and fede

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Pro Talks: Jim Lebenthal on the fundamental analysis tools that will make you a better investor

CNBC: Investing

Veteran "Halftime" guest and investor Jim Lebenthal sat down with CNBC's Dominic Chu to discuss how the former nuclear engineer and U.S. Navy officer created a science-minded approach to fundamental analysis and value investing that has led to a decades-long career on Wall Street. Lebenthal goes into detail on how he uses different fundamental analytical tools, walking Pro subscribers through how he finds price-to-earnings growth ratios of stocks like Amazon and Nvidia.

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Hudson Technologies Announces Acquisition of USA Refrigerants

Global Newswire by Notified: M&A

WOODCLIFF LAKE, N.J., June 07, 2024 (GLOBE NEWSWIRE) -- Hudson Technologies, Inc. (NASDAQ: HDSN) today announced the acquisition of substantially all of the assets of USA United Suppliers of America, Inc. d/b/a USA Refrigerants (“USA”) for $20.7 million, subject to customary post-closing adjustments, and up to an additional $2 million in potential earnout payments.

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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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Apollo's co-president said it is one of the few private equity firms OK with higher rates

CNBC: Investing

Apollo Asset Management Co-President Scott Kleinman had a more contrarian view: He said he'd be betting against any rate cuts in 2024.

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Brown & Brown, Inc. acquires the assets of McNamara Company

Global Newswire by Notified: M&A

DAYTONA BEACH, Fla., June 07, 2024 (GLOBE NEWSWIRE) -- J. Scott Penny, chief acquisitions officer of Brown & Brown, Inc. (NYSE:BRO), and Patrick and Aleshia McNamara, principals of McNamara Company, today announced that Brown & Brown has acquired the assets of McNamara Company.

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An options strategy on Oracle ahead of earnings that generates income

CNBC: Investing

Jeff Kilburg sets up a trade in the software stock ahead of earnings.

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