Sat.Jul 20, 2024 - Fri.Jul 26, 2024

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Unpacking how Alphabet’s rumored Wiz acquisition could affect VC

TechCrunch: M&A

Alphabet, the parent company of Google, is in advanced talks to acquire cybersecurity startup Wiz for $23 billion, the Wall Street Journal reported on Sunday. TechCrunch’s sources heard similar and added that deal discussions could last into next week. If this deal does end up getting done, it would be Alphabet’s largest acquisition yet.

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Fear of the Unknown

H. Friedman Search

This month, we wrote about the Fear of Missing out, FOMO. In my mind, this is a very real motivation of why people should be making moves. I want to discuss another fear this week, but the converse: Why are people not making moves? The first six months of this year, to say the least, have been very interesting for hiring in Public Finance. For the first time in many years, the number of new hires I have had the opportunity to assist is lower than in previous years.

Finance 189
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What Is an Involuntary Bankruptcy and How Can Creditors Use This Powerful Tool? - Creditor’s Rights Toolkit

JD Supra: Mergers

In most bankruptcies, the company decides to file for relief. In involuntary bankruptcies, creditors force the company into bankruptcy. Involuntary petitions are an extreme remedy, and therefore the requirements and standards to meet for filing such petitions are strictly construed and applied. If creditors meet the requirements under the Bankruptcy Code for filing an involuntary petition, it can serve as a powerful tool to use against a debtor.

IT 182
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Building and Scaling a Hold Co: Nate Ginsburg’s Journey from E-Commerce to Global Logistics

How2Exit

E232: Building and Scaling a Hold Co: Nate Ginsburg’s Journey from E-Commerce to Global Holdco - Watch Here About the Guest(s): Nate Ginsburg is a seasoned entrepreneur with an impressive track record of building and acquiring businesses. He is the owner of Centurica, which provides due diligence and quality of earnings services, and SellerPlex, a full-service Amazon agency.

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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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Wiz walks away from Google’s $23B acquisition offer: Read the CEO’s note to employees

TechCrunch: M&A

Cybersecurity startup Wiz has turned down a $23 billion acquisition offer from Alphabet, Google’s parent company, according to a source familiar with discussions. Despite the offer representing a substantial premium over its last private valuation of $12 billion, Wiz’s management team with the support of investors has opted to remain independent, the person said.

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Significantly Strengthening UK Consumer Protection Laws and Enforcement

JD Supra: Mergers

The Digital Markets, Competition and Consumers Act (DMCC) became law on 24 May 2024. This is the third update in our trilogy series on the DMCC. As we explained in our last update, the DMCC represents a major shift in UK digital, competition and consumer protection regulation. In particular, the DMCC.

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Justice Dept. Defends TikTok Law That Forces App’s Sale or Ban

The New York Times: Mergers, Acquisitions and Dive

In its first detailed response to a legal challenge, the agency said TikTok’s proposed changes wouldn’t prevent China from using it to collect U.S. users’ data or spread propaganda.

Sale 140
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Bill Ackman's IPO of Pershing Square closed-end fund is postponed, NYSE says

CNBC: Investing

Bill Ackman is postponing the highly scrutinized listing of Pershing Square's U.S. closed-end fund, according to a notice on the NYSE's website.

IPO 141
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Del. Chancery Holds “Corwin Cleansing” Applies to Purchase Price Reduction

Deal Lawyers

The Chancery Court recently dismissed breach of fiduciary duty claims arising out of a $400 million reduction in the purchase price to be paid to target stockholders as a result of post-signing equity awards to insiders that allegedly violated the terms of the merger agreement. In In re Anaplan, Inc. Stockholders Litigation, (Del. Ch.

Mergers 124
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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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Federal Trade Commission Unanimously Votes To Block Vertical Mattress Merger

JD Supra: Mergers

After a 5-0 vote, on July 2, 2024, the U.S. Federal Trade Commission sought to block mattress manufacturer (the “Manufacturer”) contemplated $4 billion acquisition of a mattress retailer (“Retailer”) by filing both an administrative complaint and a complaint in the U.S. District Court for the Southern District of Texas, the latter with a request for preliminary relief to enjoin the transaction pending the administrative proceeding.

Trading 182
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Chase to Bar Customers From Using Credit Cards for ‘Pay Later’ Loans

The New York Times: Banking

Financial regulators and consumer advocates frown upon using credit cards to pay off installment loans because of the risk that consumers will dig themselves further into debt.

Debt 130
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NextEra considers restarting Iowa nuclear plant amid rising demand for carbon-free energy

CNBC: Investing

NextEra CEO John Ketchum said the company is considering restarting the Duane Arnold Energy Center, though a risk assessment is needed.

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Tomorrow’s Webcast: “2024 DGCL Amendments: Implications & Unanswered Questions”

Deal Lawyers

Tune in tomorrow at 2 pm eastern for our “2024 DGCL Amendments: Implications & Unanswered Questions” webcast to hear Steven Haas of Hunton Andrews Kurth, Julia Lapitskaya of Gibson Dunn, and Eric Klinger-Wilensky of Morris Nichols discuss the landmark changes made by the 2024 DGCL amendments.

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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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Navigating Risks in Technology Transactions Involving AI

JD Supra: Mergers

Many companies are considering or currently engaging in acquisitions or investments in startups and established providers of artificial intelligence (“AI”) technology. They see opportunities to leverage AI to build and improve their existing businesses or get into new markets. While AI may present extraordinary opportunities, risks abound.

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Google’s Plan to Buy Wiz for $23 Billion Falls Apart

The New York Times: Mergers, Acquisitions and Dive

Wiz’s chief executive said the company walked away from a “humbling offer” and would pursue an initial public offering instead.

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China is doubling down on homegrown tech. Goldman Sachs shares its chip plays

CNBC: Investing

Goldman Sachs analysts pointed out there are notable catalysts for certain semiconductor and artificial intelligence China stock plays.

IT 133
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Private Equity: Lots of Dry Powder in Relatively Few Hands

Deal Lawyers

According to a recent Institutional Investor article, private equity funds are sitting on a mountain of dry powder – or at least some of them are. The article says that PE & VC funds have added nearly $50 billion to their cash reserves since December 2023.

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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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Under Pressure—Rethinking Board Practices - A Jones Day Governance Perspective.

JD Supra: Mergers

The Situation: Boards of directors face increasingly intense workloads, pressure to respond to developments in real time, and exposure to a higher level of legal risk than ever before.

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Founder of Kakao, South Korean Tech Giant, Arrested Over K-Pop Deal

The New York Times: Mergers, Acquisitions and Dive

Kim Beom-Su, the billionaire behind Kakao, was taken into custody on Tuesday on allegations of stock manipulation during a bidding war over a major K-pop agency.

Stock 125
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Small Banks Say Their Commercial Real Estate Loans Are Fine

The New York Times: Banking

Community banks are big commercial real-estate lenders. But they say their loans are to sturdy local businesses, not those facing vacant office space.

Bank 119
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Reps & Warranties: AI Reps for Non-AI Deals

Deal Lawyers

This recent Sheppard Mullin blog addresses a topic that’s becoming increasingly important in M&A transactions – how to draft reps & warranties that cover AI issues for deals that don’t involve AI-related businesses.

M&A 113
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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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Will Delaware remain home to American corporations?

JD Supra: Mergers

According to the latest statistics from Delaware’s Division of Corporations, 68.2% of all Fortune 500 companies are incorporated in the Delaware, 79% of US-based IPOs in 2022 listed Delaware as their “corporate home,” and there were 313,650 total business entity formations in 2022 in Delaware. There are numerous reasons why founders choose Delaware to incorporate their companies, particularly the flexible nature of their corporate laws, which are often more favorable to businesses than other.

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How a smart connected container shows how to find yourself in the future of shipping

Cisco: M&A

Container 42, the smartest shipping container in the world, is a key example of how revolutionary #SmartTechnology is for the future! But what role does #Data, #AI, and #Cybersecurity play in this new digital landscape? Read this blog from our Cisco tech expert speaking at our upcoming event on August 1.

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FCA to offer partly ‘rebundled’ research to support UK buy-side

The TRADE

The UK Financial Conduct Authority (FCA) has announced new rules around payment for research that re-introduce an optional element of rebundling. Released on Friday, the watchdog’s new rule introduces a new payment option for research and follows an industry consultation period that began in April. Under the new proposed payment option, the UK buy-side will be able to facilitate joint payments for third-party research and execution services, provided said firm meets requirements.

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Food giants are strangling Britain’s farmers and consumers. What’s the solution? Break them up | Nicholas Shaxson

The Guardian: Mergers & Acquisitions

The UK has a huge problem with monopolies – yet taking conglomerates apart is not as hard as you might think When British farmers protested outside the Houses of Parliament earlier this year, they sent 49 scarecrows , after a survey had found that 49% of UK fruit and vegetable farmers said they expected to go bust within a year. The scarecrows stood in for real farmers, who are mostly too afraid to speak out.

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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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Antitrust and AI Issues Continue to Mold Corporate Landscape

JD Supra: Mergers

Antitrust issues have cut deeply into the corporate landscape, and this year is shaping up for more of the same. Generative artificial intelligence, merger enforcement, and trial risks stand out as three of the most important antitrust considerations companies should have top of mind in 2024. Originally published in Bloomberg Law - March 2024.

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Due Diligence Checklist When Buying a Business

Lake Country Advisors

Buying a business isn’t as simple as writing a check and handing it over to the seller. It demands prudent due diligence that, if not accomplished, could spell grave and rippling consequences. Quintessentially, due diligence ensures that all aspects of the business you are buying are understood, potential risks are identified, and an accurate business assessment is made.

Business 104
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Russia Raises Key Inflation Rate to 18 Percent

The New York Times: Banking

The move underscored the wartime risks for the Kremlin as the government pumps enormous sums of money into the Russian economy.