JD Supra: Mergers
SEPTEMBER 9, 2024
On September 3, 2024, the European Union’s Court of Justice (ECJ) issued its highly anticipated judgment in the Illumina/Grail case (C-611/22 P and C-625/22 P) concerning the European Commission’s (EC’s) power to review transactions based on a referral by national competition authorities in the EU pursuant to Article 22 of the EU Merger Regulation (EUMR).
TechCrunch: M&A
SEPTEMBER 9, 2024
Automation and IT monitoring company Progress on Monday announced that it intends to acquire file management platform ShareFile for $875 million in cash and credit. Progress CEO Yogesh Gupta said that the deal, which is expected to close by November 30, will bolster Progress’ portfolio with tools to help businesses more efficiently share — and […] © 2024 TechCrunch.
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JD Supra: Mergers
SEPTEMBER 9, 2024
Governmental pressure and an improving macroeconomic outlook could see French buyout activity gaining on the UK French private equity activity posted an impressive deal value in the first half of 2024 despite political and economic headwinds. A total of US$24.1 billion changed hands—a 25 percent annual increase and the fourth-highest half-year total since 2020.
How2Exit
SEPTEMBER 9, 2024
E242: The Art of the Deal: Steve Rooms' Masterful M&A Strategies, Unraveling the Secrets to Success - Watch Here About the Guest(s): Steve Rooms is a seasoned financial expert and serial entrepreneur with extensive experience as a Chief Financial Officer (CFO). He has a strong background in mergers and acquisitions (M&A) from his corporate life, including travel and transactions across Europe.
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.
JD Supra: Mergers
SEPTEMBER 9, 2024
In M&A transactions, the definitive purchase agreement (whether asset purchase agreement, stock purchase agreement, or merger agreement) typically contains representations, warranties, and covenants, along with related indemnification obligations. A common representation that the seller makes is that the target has operated its business in accordance with applicable laws (often referred to a “compliance with laws” representation).
Investment Banking Today brings together the best content for investment banking professionals from the widest variety of industry thought leaders.
JD Supra: Mergers
SEPTEMBER 9, 2024
In this installment of our Employee Benefits and Executive Compensation Considerations in Mergers and Acquisitions podcast series, Troutman Pepper Partners Joshua Gelfand and Michael Crumbock discuss current executive compensation trends and issues in the private equity M&A space, including employment contracts, severance, and equity compensation.
The New York Times: Mergers, Acquisitions and Dive
SEPTEMBER 9, 2024
How missed opportunities, a $1.5 billion real estate deal, all-you-can-eat shrimp and the global pandemic sank the country’s largest seafood chain.
JD Supra: Mergers
SEPTEMBER 9, 2024
As the UK Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) consider feedback to their consultation on guidance regarding the UK change-in-controller regime (consultation paper 25/23), we provide a refresher on how the current rules apply to fintech investors, changes on the horizon and what that may mean for fintech investment terms.
Deal Lawyers
SEPTEMBER 9, 2024
There must be some kind of end of summer clearance sale for earnout litigation going on in Delaware, because over the past month or so, the Chancery Court has addressed earnout issues on no fewer than four occasions. The Court’s latest earnout decision is Shareholder Representative Services v. Alexion Pharmaceuticals, (Del. Ch.
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JD Supra: Mergers
SEPTEMBER 9, 2024
After its passage in the California Senate on August 31, 2024, Assembly Bill No. 3129 (AB 3129) is now headed to Governor Newsom’s desk. As discussed in depth in our previous blog series on AB 3129, the legislation would require that private equity groups and hedge funds involved in the acquisition or change of control of certain health care facilities, provider groups and other providers, file a comprehensive notice with the Attorney General (AG) and obtain the AG’s written consent before.
The New York Times: Mergers, Acquisitions and Dive
SEPTEMBER 9, 2024
In a second antitrust trial that starts on Monday, the Justice Department has called for a breakup of the tech giant, which it says controls the vast majority of online advertising.
JD Supra: Mergers
SEPTEMBER 9, 2024
The judgment rejects the European Commission’s expansive re-interpretation of the European Union Merger Regulation, stressing the need for legal certainty in line with the EU legislature’s intent.
CNBC: Investing
SEPTEMBER 9, 2024
Assets in money market funds hit $6.3 trillion the week ended Wednesday, another record high, according to the Investment Company Institute.
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.
JD Supra: Mergers
SEPTEMBER 9, 2024
Biomerieux, Inc. v. Rhodes, C.A. No. N23C-10-067 (Del. Super. May 9, 2024). The default rule in Delaware is that the attorney-client privilege transfers from the target corporation to the surviving corporation in a merger.
CNBC: Investing
SEPTEMBER 9, 2024
On Monday, the three major averages rebounded from their worst week in 2024. Here's what CNBC TV is watching going into Tuesday.
JD Supra: Mergers
SEPTEMBER 9, 2024
The Committee on Foreign Investment in the United States (CFIUS or the Committee) has launched a new CFIUS Enforcement webpage, highlighting the Committee's heightened focus on "increasingly exercising its enforcement remedies, including civil monetary penalties, while also honing and refining its enforcement regulations and tools.".
Cisco: M&A
SEPTEMBER 9, 2024
Success in cybersecurity requires continuous learning and awareness. That's why Cisco University offers industry-leading courses to help keep you ahead of the game. Get an inside look at how it helped one attendee, in our latest blog.
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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.
JD Supra: Mergers
SEPTEMBER 9, 2024
President Joe Biden is reportedly poised to formally block the proposed $14.9 billion acquisition of U.S. Steel by Japan’s Nippon Steel, a decision anticipated to have significant implications for the American steel industry and international business relations. The decision comes amidst heightened scrutiny from the Committee on Foreign Investment in the United States (CFIUS), a body responsible for evaluating the national security implications of foreign investments in U.S. companies.
Global Banking & Finance
SEPTEMBER 9, 2024
By Anurag Mohapatra, NICE Actimize, SME and Sr. Product ManagerFraud Subject Matter Expert As digital payment platforms continue to evolve, so do the fraudsters. The traditional protections under the U.S. 1978 Electronic Fund Transfer Act (EFTA), designed primarily for unauthorized transfers, are proving insufficient in the face of deception and social engineering.
JD Supra: Mergers
SEPTEMBER 9, 2024
Purchase price adjustment provisions are designed to reflect changes in the target's financial condition that occur prior to the closing of the transaction. For example, if on January 1, a transaction is valued, or priced, at $10,000,000 when the target has inventory worth $100,000, and if, when the transaction closes, all other financial metrics being equal, the seller delivers the target with $500,000 of inventory, the seller will expect to be paid, often dollar for dollar, for the additional.
Cisco: M&A
SEPTEMBER 9, 2024
Learn how BT and Cisco's partnership empowers communities through the Cisco Networking Academy, providing free, online courses to help Ukrainian women and other learners develop crucial digital skills and advance their careers.
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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.
JD Supra: Mergers
SEPTEMBER 9, 2024
During the diligence phase of a transaction, it is not uncommon for a buyer to identify potential tax liabilities that may be caused by a number of situations: uncertainty over a tax structure, an estimated fair market value utilized in tax structuring, concern over a potential dispute with tax authorities, or any other reason that may generate an uncertain tax position.
CNBC: Investing
SEPTEMBER 9, 2024
The firm spotlighted 24 of its highest-conviction ideas across six sectors for September, including a handful of new additions.
JD Supra: Mergers
SEPTEMBER 9, 2024
City of Sarasota Firefighters’ Pension Fund v. Inovalon Holdings Inc., No. 305, 2023 (Del. May 1, 2024). The Delaware Supreme Court’s decision in Khan v. M & F Worldwide Corp. (“MFW”) established a cleansing process for a corporation’s transactions with a controlling stockholder: “(i) the controller conditions the procession of the transaction on the approval of both a Special Committee and a majority of the minority stockholders; (ii) the Special Committee is independent; (iii) the Special.
CNBC: Investing
SEPTEMBER 9, 2024
Savita Subramanian, the firm's head of equity and quantitative strategy, expects "quality and income are the new growth and P/E expansion.
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Generative AI is upending the way product developers & end-users alike are interacting with data. Despite the potential of AI, many are left with questions about the future of product development: How will AI impact my business and contribute to its success? What can product managers and developers expect in the future with the widespread adoption of AI?
JD Supra: Mergers
SEPTEMBER 9, 2024
In merger and acquisition (M&A) transactions, the definitive purchase agreement whether asset purchase agreement, stock purchase agreement, or merger agreement typically contains representations and warranties made by the seller with respect to the target company. Representations and warranties not only provide information to the buyer, but also operate to allocate risk as between the buyer and seller with respect to the matters covered by the representations and warranties.
The TRADE
SEPTEMBER 9, 2024
State Street Global Advisors (SSGA) equity and derivatives trader Rikki Corbyn joined Barclays in a program trading role. He joins Barclays after almost 12 years with SSGA, originally joining the firm in 2013 in a trade support role before moving into an equity and derivatives trading role in 2016. The TRADE first reported Corbyn’s departure from SSGA in July.
JD Supra: Mergers
SEPTEMBER 9, 2024
SAN DIEGO COUNTY – The number of venture capital dollars flowing to Greater San Diego technology companies is becoming less frequent in 2024, a trend mirroring national investment activity that appears to favor bigger bets at the expense of more frequent ones. It’s estimated that local tech companies and startups have done a total 43 venture capital deals between January and July, according to data provided by Connect.
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