Fri.Aug 16, 2024

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Tech Exit Series – Preparing a Data Room

JD Supra: Mergers

Orrick's Tech Exit Series suggests tips for tech companies looking towards an exit. Our market-leading London M&A and Private Equity team writes instalments in the series with contributions from specialists across our broader practice.

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Transcript: “2024 DGCL Amendments: Implications & Unanswered Questions”

Deal Lawyers

We’ve posted the transcript for our “2024 DGCL Amendments: Implications & Unanswered Questions” webcast. Our panelists – Hunton Andrews Kurth’s Steven Haas, Gibson Dunn’s Julia Lapitskaya & Morris Nichols’ Eric Klinger-Wilensky – provided their insights into this year’s controversial DGCL amendments.

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Opportunities In Distressed M&A: A Guide For Buyers

JD Supra: Mergers

Distressed mergers and acquisitions (M&A) involve companies in financial or operational distress, potentially on the brink of insolvency or already grappling with significant debt burdens. These transactions are typically characterized by the urgent need to prevent the target company from entering formal restructuring or bankruptcy, preserving as much value as possible for stakeholders.

M&A 172
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Need Quick Cash? How to Sell Your House Fast and Profitably

Global Banking & Finance

Selling your home swiftly at a profit may seem daunting, but it can be achieved efficiently with the strategies and approach. Whether you’re moving, facing constraints, or just ready for a change, the key is to increase your property’s appeal to buyers and simplify the selling process.

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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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Justice Department Imposes $3.5 Million Civil Penalty, Strict Conditions Over Gun-Jumping Allegations

JD Supra: Mergers

Earlier this month, the Department of Justice (DOJ) Antitrust Division filed a consent decree fining venue management firm Legends Hospitality $3.5 million over allegations that Legends improperly coordinated with an acquisition target during the pre-closing waiting period imposed by the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (or “HSR Act”).

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Ninth Circuit Applies Birnbaum Rule to Affirm Dismissal of Claims by SPAC Investors Asserted Against Target Company Executives for Pre-Merger Statements

JD Supra: Mergers

In Max Royal LLC v. Atieva, Inc., No. 23-16049, 2024 U.S. App. LEXIS 19910 (9th Cir. Aug. 8, 2024), the United States Court of Appeals for the Ninth Circuit affirmed the dismissal of a securities class action brought by investors who purchased shares of the special purpose acquisition company Churchill Capital Corporation IV (“CCIV”) in early 2021 before it merged with Atieva, Inc. d/b/a Lucid Motors (“Lucid”) in July 2021.

Investors 172
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Invest for the long term and sleep at night with these quality stocks, BMO says

CNBC: Investing

According to the firm, these high-quality stocks can provide protection during periods of high market volatility.

Stock 114
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Chancery Addresses Acquirer’s Request For Joint Tortfeasor Settlement Credit

JD Supra: Mergers

In re Columbia Pipeline Grp. Inc. Merger Litig., Consol. C.A. No. 2018-0484-JTL (Del. Ch. May 15, 2024) - In this post-trial decision, the Court addressed an acquirer’s responsibility for damages suffered by a stockholder class when the acquirer had been found liable for aiding and abetting breaches of fiduciary duties by certain of the target’s officers.

Mergers 161
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More Sustainable Mining with Cisco

Cisco: M&A

Learn more about advanced technologies in mining that are actively contributing to reaching goals in the global sustainability agenda.

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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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A Capital Blow for Deducting Management Expenses

JD Supra: Mergers

The Supreme Court confirmed in Centrica Overseas Holdings Ltd v HMRC that the tests for trading and management expenses of a capital nature are the same. The decision also confirms that once a company has decided in principle to dispose of a capital asset, any professional fees incurred afterwards in pursuance of that sale are likely to be capital and not deductible under CTA 2009 s 1219, even if a purchaser for that asset has not yet been identified and a specific sale transaction has not yet.

Capital 161
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The End of Fabulous Money Market Rates Is Near

The New York Times: Banking

You have been able to earn solid returns by parking your money in fairly safe places, our columnist says. But that won’t last much longer.

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Treasury Announces CFIUS Enforcement Blitz

JD Supra: Mergers

On August 14, 2024, the Department of the Treasury (“Treasury”) announced in a press release a revamped Committee on Foreign Investment in the United States (“CFIUS” or “the Committee”) enforcement webpage. Among other updates, the webpage provides information about six CFIUS penalty actions from 2023 and 2024. For the past several years, CFIUS’s webpage only included two enforcement actions, one from 2018 and another in 2019.

Trading 161
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The 60/40 portfolio excelled during the market storm — and Vanguard sees a strong decade ahead

CNBC: Investing

The 60/40 portfolio recently passed its first real test since the 2022 bond market rout.

Portfolio 104
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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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Chancery Grants Motion to Dismiss Breach of Fiduciary Duty Claims Against Officers in Controlling Stockholder Transaction Subject to Entire Fairness Review

JD Supra: Mergers

Kormos v. Playtika Hldg. UK II Ltd., C.A. 2023-0396-SG (Del. Ch. May 3, 2024) - In this decision involving breach of fiduciary duty claims against two officers, the Court granted the individual defendants’ motions to dismiss for failure to state a claim.

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A hedge on chip stocks if the comeback doesn't hold

CNBC: Investing

Jeff Kilburg gives a trade on the VanEck Semiconductor ETF.

Stock 115
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Dylan Sidoo: Innovating in Finance and Beyond

Global Banking & Finance

Dylan Sidoo is a Canadian investment professional, in the world of finance and investment management. With a background in critical studies from the University of Southern California and a Master of Science in Global Finance & Banking from King’s College London.

Finance 59
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Here are Friday's biggest analyst calls: Nvidia, Tesla, Microsoft, Alphabet, Walmart & more

CNBC: Investing

Here are the biggest calls on Wall Street on Friday.

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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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Navigating the Legal Maze of M&A Transactions: A Comprehensive Guide

Sun Acquisitions

Mergers and acquisitions (M&A) transactions are complex undertakings involving many legal considerations and potential hurdles. From negotiating deal terms to conducting due diligence and securing regulatory approvals, the legal aspects of M&A play a crucial role in the success or failure of the transaction. This article will overview the key legal considerations in M&A transactions, common legal hurdles, and strategies for navigating them effectively.

M&A 59
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The long-term winners as AI boosts U.S. power needs, according to Mizuho

CNBC: Investing

Data center power demand will triple to 9% of total U.S. electricity consumption by the end of the decade, according to Mizuho.

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Market Moments That Matter | It’s Time for Kickers to Shine this Football Season

Intrepid Banker Insights

Intrepid Investment Bankers Market Moments That Matter | It’s Time for Kickers to Shine this Football Season Intrepid Capital Advisory MARKET MOMENTS THAT MATTER With football season right around the corner, we are seeing a renewed focus on (equity) kickers as a differentiator on both sides of the ball. Read our latest Market Moments That Matter for more.

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How Walmart revived the AI trade

CNBC: Investing

Walmart is playing a key role in reminding investors of artificial intelligence's unbounded potential, according to Morgan Stanley.

Trading 67
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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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Platform or Bolt-on: Two Different, Compelling Paths of Private Equity Investment

Chesapeake Corporate Advisors

Private equity (PE) firms are investing in middle market businesses at a healthy pace despite a high interest rate environment that makes it more costly to finance deals. If you are looking to sell your business, PE firms are likely to be among the interested buyers. PE firms view a target business in one of two ways: as a potential platform company or as a business they will “bolt on” to their existing platform.

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Walmart, Starbucks among the most overbought stocks due for a pullback

CNBC: Investing

This week's recovery rally following last week's sell-off has led investors to buy key retail names and others.

Retail 68
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Fortnite returns on iPhones in EU, globally on Android

Global Banking & Finance

By Supantha Mukherjee STOCKHOLM (Reuters) – Multiplayer shooter game Fortnite is available again on iPhones in the European Union and worldwide on Google’s Android devices after a gap of four years, following legal measures by the EU, developer Epic Games said on Friday. Fortnite, created by Epic, a U.S.

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Fireside Friday with… State Street’s Peter Vincent

The TRADE

How would you describe the dynamic and makeup of your desk? We very much work as one team. Traders often need to cover their colleagues’ books, so we also emphasise and nurture trust and confidence in each other. As a team, we cultivate and nurture a lively and open environment which encourages everyone to share their views and challenge ideas. Diversity of thoughts goes beyond gender, age and nationality, which are seen across our trading desks.

Trading 52
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Navigating the Future: Generative AI, Application Analytics, and Data

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?

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Oil falls over 1% as investors worry about China demand outlook

Global Banking & Finance

By Shariq Khan NEW YORK (Reuters) -Oil prices fell about 2% on Friday and were set to end the week around the same levels as last, with Brent crude just below $80 a barrel, as investors tempered expectations of demand growth from top oil importer China. Brent crude futures fell by $1.06, or 1.

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Millennium Advisors launches Singapore office

The TRADE

Fixed income proprietary trading firm Millenium Advisors has opened a new office in Singapore as it continues its expansion across Asia. Announced on social media, the move was described as marking “a significant milestone in Millennium Advisors’ growth, reinforcing [its] commitment to the APAC region”. The strategic development is set to pave the way for enhanced global operations for the firm, as well as signalling Millennium Advisors’ commitment to its counterparties.

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Morning Bid: With US economy humming, a quarter point will do

Global Banking & Finance

A look at the day ahead in U.S. and global markets from Mike Dolan The U.S. economy is doing just fine and markets now accept a quarter-point rate cut from the Federal Reserve next month will be enough to get the easing cycle going as disinflation resumes.

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