JD Supra: Mergers
OCTOBER 30, 2024
The EV industry is facing multiple headwinds in 2024 including consumer pullback, but future dealmaking prospects look solid as buyers seek to safeguard future growth, with China leading the way - Dealmaking in the global automotive industry has underwhelmed so far this year, with supply chain issues, higher-for-longer interest rates and financing concerns dampening activity.
Deal Lawyers
OCTOBER 30, 2024
As reported by the New York Times, a New York federal court granted a preliminary injunction last week preventing the $8.5 billion acquisition of Capri Holdings (owner of Versace and Michael Kors) by Tapestry (the parent company of Coach and Kate Spade) from moving forward while the FTC investigates the deal in its administrative court.
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JD Supra: Mergers
OCTOBER 30, 2024
On Thursday, October 24, 2024, a New York federal judge granted the Federal Trade Commission’s request for a preliminary injunction to halt the merger between Tapestry Inc. and Capri Holdings Ltd. The court held that the parties, owners of handbag retailers, operated in the same relevant market as defined by the FTC— “accessible luxury” handbags, ranging from $100 to $1,000.
The TRADE
OCTOBER 30, 2024
Derivatives marketplace CME Group has received approval from the National Futures Association (NFA) to establish a futures commission merchant (FCM). Walt Lukken, FIA The NFA defines a FCM as an entity that solicits or accepts orders to buy or sell futures contracts, options on futures, retail off-exchange forex contracts or swaps, and accepts money or other assets from customers to support such orders.
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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?
JD Supra: Mergers
OCTOBER 30, 2024
As previously reported, the Federal Trade Commission (“FTC”), with the concurrence of the Antitrust Division of the U.S. Department of Justice (“DOJ” and, together with FTC, the “agencies”), recently finalized expansive changes to the Hart-Scott-Rodino (“HSR”) premerger notification form to provide the agencies with more up-front information to identify potentially anticompetitive transactions.
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JD Supra: Mergers
OCTOBER 30, 2024
Contractors interested in offering federal agencies artificial intelligence (AI) can now glean insight into how agencies are expected to conduct AI acquisitions. On September 24, 2024, the Office of Management and Budget (OMB) issued Memorandum M-24-18, Advancing the Responsible Acquisition of Artificial Intelligence in Government (the Memorandum), providing guidance and directing agencies “to improve their capacity for the responsible acquisition of AI” systems or services, including.
Mergers and Inquisitions
OCTOBER 30, 2024
Corporate finance jobs at normal companies are bad … …if you’re using them to break into a deal-based field, such as investment banking , private equity , or venture capital , or as a “Plan B” if you interview around but do not get into one of these. The main problem is that many people enter corporate finance jobs without truly understanding them. Corporate finance is fine if you’re in it to advance up the ladder over many years/decades while having a reasonable work/life balance.
JD Supra: Mergers
OCTOBER 30, 2024
The long-awaited new HSR rules have finally been released. On October 10, 2024, the Federal Trade Commission (FTC), with concurrence of the Department of Justice (DOJ) (collectively, the Agencies), released the 460-page final version of their revisions to the Premerger Notification and Report Form (the HSR Form), associated instructions, and the premerger notification rules implementing the Hart-Scott-Rodino (HSR) Act (hereafter, the “new HSR rules”).
Cisco: M&A
OCTOBER 30, 2024
Celebrate the achievements of our partner ecosystem at Cisco Partner Summit 2024. Discover the outstanding performance of our global award winners and their impact on customers and communities.
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
OCTOBER 30, 2024
In two significant recent opinions, the Delaware Chancery Court ruled against the buyers of life sciences companies, holding that they failed to apply commercially reasonable efforts to achieve earnout milestones. In Fortis Advisors LLC v. Johnson & Johnson, the court awarded nearly $1 billion in damages for breach of contract to the target company’s stockholders, while the court in Shareholder Representative Services LLC v.
Sica Fletcher
OCTOBER 30, 2024
Q3 Data from S&P Global Highlights Sica | Fletcher’s Number 1 Ranking NEW YORK, NY - October 31, 2024 - Sica | Fletcher continues to set the standard for excellence in the insurance M&A industry, further solidifying its Number 1 position on S&P Global’s 2024 Market Intelligence League Tables. With an impressive 74 deals closed to date, the firm has increased its lead over competitors, widening the gap to 31 deals ahead of its closest competitor.
JD Supra: Mergers
OCTOBER 30, 2024
The Federal Trade Commission (FTC) prevailed in the first round of its much-criticized challenge to Tapestry Inc.'s acquisition of Capri Holdings Limited. Tapestry owns the Coach brand, and Capri owns the Michael Kors and Kate Spade brands. After a seven-day evidentiary hearing in which the court heard from more than 30 witnesses – including 16 live fact witnesses and four experts – Judge Jennifer Rochon of the U.S.
CNBC: Investing
OCTOBER 30, 2024
Another busy day of megacap technology earnings kicks off Wednesday with results from Meta Platforms and Microsoft after the bell.
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JD Supra: Mergers
OCTOBER 30, 2024
Last month, the U.S. Department of Justice (“DOJ”) quietly updated its March 2023 guidance on the evaluation of corporate compliance programs. Of course, DOJ did not conduct a major rewrite, but interestingly, the updated guidance emphasizes the impact, and evaluation, of emerging technologies on compliance as well as the importance of data when assessing compliance programs.
Cisco: M&A
OCTOBER 30, 2024
The Cisco 2024 Consumer Privacy Survey highlights awareness and attitudes regarding personal data, legislation, Gen AI and data localization requirements.
JD Supra: Mergers
OCTOBER 30, 2024
The European Commission and UK Competition and Markets Authority have concluded the technical negotiations on a new joint Competition Cooperation Agreement. Once finalised, this will strengthen their ability to coordinate, share information and work together more effectively on competition matters across jurisdictions.
CNBC: Investing
OCTOBER 30, 2024
The Nasdaq Composite touched a new high during Wednesday's trading, but ultimately ended the day lower. Here's what CNBC is watching going into Thursday.
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
OCTOBER 30, 2024
On October 24, 2024, Judge Rochon of the U.S. District Court for the Southern District of New York granted the Federal Trade Commission’s (FTC) motion for a preliminary injunction to prevent Tapestry, Inc. (“Tapestry”) from acquiring Capri Holdings Limited (“Capri”) (collectively, “Defendants”). The 169-page opinion continues the trend of lowering the bar for FTC merger challenges.
Global Banking & Finance
OCTOBER 30, 2024
By Gwladys Fouche OSLO (Reuters) – Some 40,000 Norwegian citizens picked at random will next month receive an invitation to help shape the future of their country’s wealth, including what to do with its $1.8 trillion sovereign wealth fund, the world’s largest.
CNBC: Investing
OCTOBER 30, 2024
The situation keeps getting worse, according to Bernstein.
Global Banking & Finance
OCTOBER 30, 2024
By Sheila Dang (Reuters) -Snap beat Wall Street expectations for both quarterly revenue and user growth on Tuesday, as the parent company of messaging app Snapchat has been able to lure back some advertisers with better-performing ad features. It also announced a share repurchase program of up to $500 million.
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CNBC: Investing
OCTOBER 30, 2024
Here are Wednesday's biggest calls on Wall Street.
The Guardian: Mergers & Acquisitions
OCTOBER 30, 2024
Chair suggests company will not make fourth takeover offer and will instead focus on other growth opportunities The global mining company BHP has “moved on” from its three unsuccessful attempts to take over the rival Anglo American earlier this year and will focus on other growth opportunities instead, its chair has said. Speaking at BHP’s annual general meeting in Brisbane on Wednesday, Ken MacKenzie suggested the Australian miner would not be resurrecting its bid for its London-based competito
The New York Times: Banking
OCTOBER 30, 2024
Over the past nine months, the parents of Mr. Bankman-Fried, Ms. Ellison and Mr. Singh have written letters to Lewis A. Kaplan, the judge overseeing the FTX case, pleading for leniency for their children. They described the emotional toll of FTX’s collapse, recounting wrenching conversations and endless stress.
CNBC: Investing
OCTOBER 30, 2024
Among Wall Street firms Barclays has one of the highest price targets for shares of Alphabet, predicting 29% upside.
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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.
The New York Times: Banking
OCTOBER 30, 2024
Over the past nine months, the parents of Mr. Bankman-Fried, Ms. Ellison and Mr. Singh have written letters to Lewis A. Kaplan, the judge overseeing the FTX case, pleading for leniency for their children. They described the emotional toll of FTX’s collapse, recounting wrenching conversations and endless stress.
Global Newswire by Notified: M&A
OCTOBER 30, 2024
Nanterre, 30 October 2024 VINCI acquires FM Conway Limited in the United Kingdom Acquisition by VINCI Construction of FM Conway Limited, a UK public.
Global Banking & Finance
OCTOBER 30, 2024
By Caroline Valetkevitch NEW YORK (Reuters) –Global stock indexes edged lower on Wednesday as a disappointing forecast from Advanced Micro Devices weighed on chipmakers, while gold prices rose to a record high as uncertainty ahead of next week’s U.S. presidential election drove safe-haven demand.
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