Mon.Jul 15, 2024

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Google’s Kurian approached Wiz, $23B deal could take a week to land, source says

TechCrunch: M&A

Alphabet, Google’s parent company, is in advanced talks to acquire Wiz for $23 billion, a person close to the company told TechCrunch. The deal discussions were previously reported by The Wall Street Journal. Wiz, a cybersecurity startup founded in 2020, was approached a few weeks ago by Thomas Kurian, head of Google’s cloud division, the […] © 2024 TechCrunch.

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Sole Discretion Not to Close Renders Texas Oil Deal Unenforceable

JD Supra: Mergers

Maverick Natural Resources, LLC at al v. Glenn D. Cooper Oil & Gas, Inc. is for control freaks wherever you are … and for those of you who advise the aforesaid control freaks.

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Mastering Niche Marketing: Karl Hughes' Strategy to Building from 0 to $2.5M Business

How2Exit

E230: Mastering Niche Marketing: Karl Hughes' Strategy to Building from 0 to $2.5M Business - Watch Here About the Guest(s): Karl Hughes is the founder and creator of Draft.dev, a technical content marketing agency. With a background in mechanical and software engineering, Karl has propelled his career forward by venturing into content marketing and company acquisitions.

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Dollars, Donuts, and Buy-Sell Options

JD Supra: Mergers

Buy-sell agreements come in all shapes and sizes. Some are straightforward. Others are outrageously complex, especially purchase price formulas. Some have triggers for death. Others disability. Retirement. Expulsion. Termination of officership, directorship, employment. By: Farrell Fritz, P.C.

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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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BlackRock's Larry Fink says he's a 'major believer' in bitcoin, is worried about government deficits

CNBC: Investing

The BlackRock CEO discussed cryptocurrency and government spending on CNBC's "Squawk on the Street.

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Activism: Del. Supreme Court Addresses Advance Notice Bylaw Amendments

Deal Lawyers

We previously blogged about the Chancery Court’s decision in Kellner v. AIM Immunotech, (Del. Ch.

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SECURE 2.0 Simplifies Corporate Transactions with Mid-Year Termination Rules for SIMPLE IRA Plans

JD Supra: Mergers

In connection with a merger, acquisition, or other corporate (M&A) transaction, buyers often face the dilemma of how to handle the seller’s existing retirement plans covering the continuing employees. Terminating a seller’s existing retirement plan can be complicated if the seller maintains a Savings Incentive Match Plan for Employees (SIMPLE) IRA plan because the “exclusive plan rule” under Section 408(p)(2)(D) of the Internal Revenue Code (Code) provides that a SIMPLE IRA plan may not be.

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Maintaining Digital Compliance with the PCI DSS 4.0

Cisco: M&A

Cisco plays a pivotal role in the evolution and implementation of the PCI DSS 4.0.1 standards, offering a suite of compliant products and advisory expertise to assist customers in navigating the significant security updates and phased rollout through March 2025.

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Healthcare & Life Sciences Private Equity Deal Tracker: SAIGroup Acquires Get Well

JD Supra: Mergers

SAIGroup has announced it has acquired Get Well. Get Well, founded in 2000 and based in Bethesda, Maryland, is a provider of patient engagement technology and services.

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Provide Real Value in Your Applications with Data and Analytics

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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Fed’s Powell Welcomes Cooler Inflation but Steers Clear of Rate Cut Timing

The New York Times: Banking

Jerome H. Powell, the chair of the Federal Reserve, avoided signaling when the Fed would cut rates at a time when some economists are wondering why officials would wait.

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Credit Conditions | June 2024

JD Supra: Mergers

Welcome to this edition of Credit Conditions, a quarterly publication from McDermott Will & Emery that analyzes recent debt market trends. Key Debt Market Trends - Interest Rates - “Start your engines” has shifted to “hold your horses” as rates continue to remain “higher for longer.” Expectations have now shifted from March’s three rate cuts starting in June 2024 to only one rate cut in 2024 between September and December.

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Goldman profits more than double to $3bn as deals rebound

Financial Times - Banking

US investment bank’s results were also helped by stronger performance from its equities and fixed income businesses

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Corporate Transparency Act: New Reporting Rules for Dissolved and Merged Companies

JD Supra: Mergers

On January 1, 2024, federal law called the Corporate Transparency Act (“CTA”) took effect. The CTA aims to prevent money laundering, tax fraud, and other illegal activity by requiring companies to report basic identifying information and certain details about individuals with ownership and control. Each entity must provide the necessary information using the online portal created by the Financial Crimes Enforcement Network (“FinCEN”).

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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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Goldman Sachs has 'solid' second quarter as profits rise 14%

American Banker - Investment Banking

Goldman's two main businesses — global banking and markets, and asset and wealth management — both recorded year-over-year increases in revenues during the second quarter. "We are pleased with our solid second quarter results," CEO David Solomon said Monday in a press release.

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The Art Of M&A: Insights from Our Latest Book Club

Align Business Advisory Services

At our recent book club, we had the privilege of hosting John Boccuzzi Jr., author of “The Art of Seducing Your Customers.” Boccuzzi’s S.E.D.U.C.E. framework provided valuable insights for our advisory firm, reinforcing our commitment to bringing Wall Street-caliber insights to Main Street. The S.E.D.U.C.E. framework consists of these six components: 1.

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Monday's analyst calls: Apple upgraded on AI push, Nvidia price target increased

CNBC: Investing

Updated live blog of the biggest analyst calls out on Monday morning, including ones on Apple and Nvidia.

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NagaWarrants by Kenanga Investment Bank Awarded Excellence in Innovation – Best Warrants Issuer Malaysia 2024

Global Banking & Finance

Global Banking & Finance Review is proud to announce that NagaWarrants by Kenanga Investment Bank has been awarded Excellence in Innovation – Best Warrants Issuer Malaysia 2024 in the 2024 Global Banking & Finance Awards®. This accolade highlights NagaWarrants’ commitment to innovation and leadership in the Malaysian structured warrants market.

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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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Virtual Reality Market to Surpass USD 91.54 Billion by 2031 | Skyquest Technology

Global Newswire by Notified: M&A

Westford USA, July 15, 2024 (GLOBE NEWSWIRE) -- SkyQuest projects that the global virtual reality market will attain a value of USD 91.54 billion by 2031, with a CAGR of 21.6% during the forecast period (2024-2031). Virtual Reality or VR is one of the fastest growing and most innovative areas in the global market with technology advancements and consumer adoption being the chief drivers.

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A big European asset manager trims Nvidia shares after huge rally

CNBC: Investing

DNB Asset Management, a Nordic fund giant, dumped a sizable portion of its Nvidia stake after the chip giant's stunning 2024 run.

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Complete Solar Acquires Core Energy

Global Newswire by Notified: M&A

Complete Solar has acquired selected assets of Core Energy, a Utah solar engineering, procurement and construction firm.

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Investec taps Liberum for new head of e-trading and execution strategy

The TRADE

Dom Lowres has joined Investec as head of electronic trading and execution, following almost 17 years at Liberum. Whilst at Liberum, Lowres held various execution-related roles. Most recently, he served as head of execution strategy, which followed an eight-year stint as head of trading. Elsewhere in his tenure, Lowres held a pan European trading position.

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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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This senior housing stock could soar 25% as the population ages, says Bank of America

CNBC: Investing

Investors can also score a dividend yield of more than 3% with this real estate investment trust.

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People Moves Monday: SSGA, Clear Street, BTIG and more…

The TRADE

Rikki Corbyn left State Street Global Advisors (SSGA) following 11 and a half years with the firm, The TRADE learnt. Following his departure he is set to join Barclays Capital. Most recently, he served as equity and derivatives trader, vice president at SSGA, focused on the EMEA region, having joined the desk in December 2016. Prior to his time at SSGA, Corbyn held settlement-related roles at Credit Suisse, Citigroup, and Barclays Capital.

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Urgent Care for Kids Expands Network of Care in Houston, Texas

Global Newswire by Notified: M&A

Serving even more of the Houston community with 11 additional Urgent Care for Kids clinics. Serving even more of the Houston community with 11 additional Urgent Care for Kids clinics.

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Impax AM completes acquisition of Absalon’s fixed income assets

The TRADE

Impax Asset Management Group has completed its acquisition of Absalon Corporate Credit’s fixed income assets. Copenhagen-based Absalon was previously part of the Formuepleje Group and serves both European institutional investors and Danish high net worth individuals. Specifically, the transaction will see Impax AM add Absalon’s global high yield and emerging market corporate debt strategies to its fixed income range.

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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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Gold hovers near over one-month peak as Fed cut rate hopes lend support

CNBC: Investing

Gold prices gained on Monday, hovering near a more than one-month high hit last week.

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State Street shifts Brazil head to focus on CF Global integration

The TRADE

State Street has appointed Tomas Truzzi as CEO of State Street Brazil, replacing Telly Theodoropoulos, who has led operations in the country since its foundation in 2019. In the role, Truzzi will be responsible for overseeing all strategic initiatives and operations within the country, with a view to promoting growth within one of Latin America’s key markets.

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Sunshine Breaking Through the Clouds: Delaware Supreme Court Sheds Light on Standard of Review for Challenges to Advance Notice Bylaws

Sidley Shareholder Litigation

On Thursday, the Delaware Supreme Court issued a long-awaited decision regarding the validity and enforceability of certain provisions in a company’s advance notice bylaws. The Kellner v. AIM Immunotech Inc. decision clarifies how the Delaware courts will evaluate claims challenging an advance notice bylaw. Critically, it confirms that different standards attach when a plaintiff challenges (i) the language of a company’s bylaw (a so-called facial or validity challenge) in the abstract, absent

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