Sat.Feb 24, 2024 - Fri.Mar 01, 2024

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FTC Sues to Stop $24.6 Billion Kroger-Albertsons Deal

JD Supra: Mergers

On February 26, 2024, the Federal Trade Commission (“FTC”) issued an administrative complaint and authorized a lawsuit in federal court to block Kroger Company’s proposed $24.6 billion acquisition of the Albertsons Companies, Inc. The acquisition would be the largest supermarket merger in United States history.

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KKR to acquire VMware’s end user computing biz from Broadcom for $4B

TechCrunch: M&A

We’ve already started to see big M&A, as in multi-billion deals, finally pick up this year after a slow period last year. Today, KKR added to that growing total when it announced it was going to acquire Broadcom’s end user computing business for $4 billion. These pieces include VMware Workspace One and VMware Horizon, two […] © 2024 TechCrunch.

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High-Quality Candidates: What They Look For In A New Company

H. Friedman Search

We are back on track with sharing insights into the public finance and bond counsel recruiting world. I want to share a part of an interview that just occurred when a new firm reached out to us to recruit for them. After the typical questions of who we are, how we work, and what makes our firm so unique; we received the following request, “We want to understand the main driver that compels high-quality candidates to switch jobs and what triggers them to do so.

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Best part of a trillion dollars pumped into settlement penalties and resolution measures over past decade, finds research

The TRADE

Over the past ten years the industry has poured $914.7 billion in the form of regulatory penalties and resolution measures, new research has found. A report by Firebrand Research worked with a range of key market participants, including buy- and sell-side firms and market infrastructures to collate the first-of-its-kind benchmark data on the true cost of settlement inefficiency.

Trading 145
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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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SEC’s New Rules Give SPACs, Target Companies Much to Consider

JD Supra: Mergers

On January 24, 2024, the U.S. Securities and Exchange Commission (the “SEC”) adopted new final rules relating to special purpose acquisition companies (“SPACs”). The new rules affect both initial public offerings (“IPOs”) for SPACs and so-called “de-SPAC” transactions involving target companies who enter into a business combination with SPACs. In summary, the new rules appear intended to harmonize the requirements (and potential liability for SPAC acquisition targets) of de-SPAC transactions.

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F.T.C. Sues to Block Kroger-Albertsons Grocery Store Deal

The New York Times: Mergers, Acquisitions and Dive

The regulator is trying to stop the largest supermarket merger in history, arguing that the deal would eliminate competition and raise prices for consumers.

Mergers 144
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Jacob Rothschild, Banker, Financier and Philanthropist Dies at 87

The New York Times: Banking

The fourth Baron Rothschild, he left the family banking business to start his own company, becoming a powerful financier, patron of the arts and philanthropist.

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Healthcare Experts See Promising Signs of Rebound in M&A and IPO Activity

JD Supra: Mergers

In the second week of January, Goodwin and KPMG convened innovators, practitioners, regulators, and others for our annual symposium on the future of life sciences and healthcare. This marked the fifth year that Goodwin co-hosted the symposium, which takes place during the annual J.P. Morgan Healthcare Conference in San Francisco.

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Warren Buffett calls the late Charlie Munger 'part older brother, part loving father' in heartfelt tribute

CNBC: Investing

In his must-read annual letter Saturday, the 93-year-old "Oracle of Omaha" detailed Munger's instrumental role in helping him expand his conglomerate.

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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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Aquis set to begin charging members for non-displayed data after 10 years of no fees

The TRADE

Aquis Exchange is set to begin charging its trading members for non-displayed market data feeds for the first time since its inception almost 11 years ago. According to a member notice distributed on Friday 1 March, members on both Aquis Exchange and Aquis Exchange Europe will have to pay the same monthly rate as non-members for non-displayed data effective 1 June 2024.

Trading 118
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Texas Man Pleads Guilty to Insider Trading After Overhearing Wife’s Work Calls

The New York Times: Mergers, Acquisitions and Dive

The man made $1.7 million in profits after buying and selling stocks in a company that his wife’s employer, BP, acquired, prosecutors said.

Trading 132
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Ten steps to successful data governance in mergers and acquisitions

JD Supra: Mergers

Introduction - The latest EY-Parthenon Deal Barometer reveals an anticipated 12% increase in corporate mergers and acquisitions (M&A) activity for the year 2024, with more than a third of CEOs actively planning to make an acquisition in the next 12 months. By: Onna Technologies, Inc.

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Warren Buffett says Berkshire may only do slightly better than the average company due to its sheer size

CNBC: Investing

Warren Buffett said his sprawling conglomerate may only slightly outperform the average American company due to its sheer size.

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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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ICE and IPC Systems to launch cloud-based audio solution for traders

The TRADE

Intercontinental Exchange (ICE) and trading communications solutions provider IPC Systems are set to launch ICE Voice, a cloud-based audio solution for traders and professional investors. ICE Voice will be offered with ICE Chat, bringing together the latter’s network of over 120,000 active users and IPC’s Connexus Unigy private cloud platform to offer always on, open communications between individuals or groups of traders across internal trading desks, alongside any other registered ICE Chat use

Trading 117
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Wells Fargo's new vice chair Braunstein brings investment banking heft

American Banker - Investment Banking

CEO Charlie Scharf has added another former JPMorgan Chase colleague to his leadership team as his shake-up of Wells Fargo continues. The hire of veteran investment banker Doug Braunstein comes as Scharf makes progress on his efforts to grow Wells' investment bank.

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Public Company Watch: February 2024

JD Supra: Mergers

In the February edition of our Public Company Watch, we cover key issues impacting public companies, including Exxon Mobil filing a complaint seeking a declaratory judgment to exclude a shareholder proposal from Arjuna Capital and Follow This, the NYSE sharing its annual guidance memo, the FTC announcing increased HSR thresholds and filing fees, and how the recently adopted SPAC rules could impact public companies.

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Online trading platform Webull is set to go public via a $7.3 billion SPAC deal

CNBC: Investing

The New York-based online brokerage will combine with SK Growth Opportunities Corporation in the second half of the year.

Trading 144
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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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LSEG sees double-digit growth across post-trade as exchange continues to reap benefits of acquisition push

The TRADE

The London Stock Exchange (LSEG) saw overall growth across its key businesses in 2023, with considerable improvement across data and analytics, capital markets, and in particular, post-trade. David Schwimmer The data and analytics offering saw a 7.3% year-on-year increase, while capital markets saw a 6.1% rise year-on-year as compared to 2022. However, post-trade saw a double digit increase of 17.4%, driven in large part by the acquisition-minded strategy of the exchange over the last few years.

Trading 112
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When Your Wish Can Go Too Far

Successful Acquisitions

When Your Wish Can Go Too Far How problematic acquisitions and lack of a clear strategy have left the Mouse feeling trapped By Abigail Iaconis, Capstone Senior Analyst The Walt Disney Corporation has one of the most iconic brand images on Earth. Founded as the humbly named Disney Brothers Cartoon Studio in 1923, the company has shaped mass market entertainment and popular culture for a century.

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FTC and a Coalition of Nine AGs Sue to Block Kroger’s Proposed $24.6B Acquisition of Albertsons

JD Supra: Mergers

The Federal Trade Commission (FTC) and a coalition of nine state attorneys general (AG) filed a lawsuit on February 26, in the U.S. District Court for the District of Oregon seeking a preliminary injunction to stall Kroger Company’s (Kroger) proposed $24.6 billion acquisition of Albertsons Companies (Albertsons), citing concerns that the proposed deal would eliminate competition among the supermarket giants, leading to higher grocery prices for millions of Americans.

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It's time to buy the dip in nuclear and uranium ETFs, Bank of America says

CNBC: Investing

Funds tied to nuclear energy are struggling in February, but that is likely temporary, according to Bank of America.

Bank 145
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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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Euronext FX appoints new head of sales

The TRADE

Stuart Parris has been appointed head of sales at Euronext FX, overseeing a global sales team covering the Americas, EMEA and APAC regions. Parris has been with the business since 2018 and has held different senior roles during his tenure, most recently as director, EMEA sales focused on sell-side tier 1 client engagement. Euronext FX has a global reach, with matching engines across regions, including in: London, New York, Tokyo and Singapore.

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Enabling Network Engineering Skills in an AI World

Cisco: M&A

Artificial intelligence (AI) has become a common buzzword, especially with the rise of Generative AI (GenAI) tools like ChatGPT, which can create entirely new data and human-like content.

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Antitrust scrutiny of private equity deals intensifies

JD Supra: Mergers

Traditionally, private equity firms were seen as benign investors from an antitrust perspective. This is changing. In the past 12 months, PE-funded acquisitions have faced progressively more rigorous scrutiny by antitrust authorities.

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Instead of chasing Nvidia, investor buys these misunderstood, cheap growth stocks for big returns

CNBC: Investing

The Torray Fund is up 7.4% in 2024, beating the S&P 500's 6.4% gain. It ranks in the 2nd percentile year to date and 14th percentile over the past three years.

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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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FIS acquires post-trade platform Torstone Technology

The TRADE

Fintech giant FIS has acquired SaaS post-trade platform Torstone Technology, according to multiple sources close to the matter. The deal will further bolster FIS’ capital markets technology offering, having acquired SunGard in a major deal back in 2015. The firm has also made waves through a number of other bolt-on acquisitions and landmark mandates.

Trading 110
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The Lower-Middle Market: What Is It—and Why You Should Care?

Align Business Advisory Services

The Lower-Middle Market: What Is It—and Why You Should Care? If you are an owner of a business with annual gross revenue in the range of $10 million up to $200 million, guess what: your business falls squarely into the lower-middle market for Mergers and Acquisitions (M&A). Whether you’re a sole owner, partner, investor, or. Read More » The post The Lower-Middle Market: What Is It—and Why You Should Care?

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California Bill Aims to Increase Oversight Over Health Care Acquisitions

JD Supra: Mergers

California Attorney General (AG) Rob Bonta and Assembly Speaker Pro Tempore Jim Wood have introduced new legislation addressing private equity health care deals. The bill, A.B. 3129, would grant the AG oversight over private equity and hedge fund acquisitions of health care facilities.