Fri.Jul 28, 2023

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DOJ and FTC Release Draft of New Merger Guidelines

JD Supra: Mergers

The U.S. Justice Department (DOJ) and Federal Trade Commission (FTC) (collectively, the “Agencies”) released for public comment draft Merger Guidelines that outline how the agencies evaluate proposed deals. The Agencies have periodically updated their Merger Guidelines, with the last such update in 2010.

Mergers 246
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AngelList expands into private equity with acquisition of fintech startup Nova

TechCrunch: M&A

AngelList , an organization that started out by teaming up founders with early-stage investors, is expanding into the private equity space. And it’s acquired a Y Combinator-backed fintech startup in the industry to kickstart that effort. Founded in 2010, AngelList started as a mailing list for high-quality angel investors before turning into one of the most powerful fundraising channels for early-stage startups.

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Flexibility is key: Australia’s leveraged finance market rises to the challenge

JD Supra: Mergers

Sponsors hope increasing competition and the flexibility of Australia’s leveraged finance market will provide increasing optionality during challenging times - Just over a year ago, TPG broke new ground with an AUD$1.5 billion (USD$1.1 billion) unitranche debt package, which was used to recapitalize Australian pet care company Greencross—the largest Australian-dollar denominated unitranche deal for an Australian borrower to date.

Finance 130
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Effective Now: EU Foreign Subsidies Regulation

Deal Lawyers

Skadden recently issued this memo with an important update from “across the pond” on the Foreign Subsidies Regulation (FSR).

Mergers 100
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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 Enforcement Mid-Year 2023 Review

JD Supra: Mergers

The year 2023 is proving to be a milestone year for antitrust enforcement. Less so for novel cases and investigations and more so for the generational changes being proposed by the enforcement authorities for merger analysis, HSR notification requirements, and competitor information exchanges. Here is a round-up of those and other significant enforcement activities.

Mergers 130

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Federal Trade Commission Proposes Major Changes to Hart-Scott-Rodino Process

JD Supra: Mergers

On June 27, 2023, the Federal Trade Commission (FTC), with the concurrence of the U.S. Department of Justice (USDOJ), released a 133-page Notice of Proposed Rulemaking (NPRM) seeking to overhaul the Hart-Scott-Rodino Act of 1976’s premerger notification process.

Trading 130
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Mastercard Moves to Stop Use of Debit Cards at Cannabis Shops

The New York Times: Banking

The decision places more strain on the cannabis industry, which largely operates with cash and is not uniformly regulated across the United States. The drug is still illegal on the federal level.

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DOJ and FTC Propose Draft Revised Merger Guidelines

JD Supra: Mergers

On July 19, 2023, the Federal Trade Commission (FTC) and Department of Justice (DOJ) released for comment proposed joint merger guidelines which seek to replace the agencies’ vertical merger guidelines released in 2020 and horizontal merger guidelines released in 2010. The proposals introduce significant changes to both the ways in which the agencies define markets and competition, and the evidence and metrics they would use to assess a merger’s competitive effects.

Mergers 130
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Lebanese Depositors Have Resorted to Force to Withdraw Their Savings

The New York Times: Banking

Amid severe limits on withdrawals and a yearslong financial crisis, Lebanese depositors are resorting to force to demand their own money, earning the moniker “the world’s most honorable bank robbers.

Bank 95
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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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Axinn Antitrust Insight: New Proposed Merger Guidelines Reflect DOJ and FTC’s Anti-merger Policy, Signal Continued Aggressive Enforcement

JD Supra: Mergers

The U.S. Department of Justice, Antitrust Division (DOJ), and the Federal Trade Commission (FTC) (and together, the “Agencies”) have released long-anticipated draft merger guidelines (the “2023 Draft Guidelines”) that articulate the Agencies’ policies in reviewing proposed mergers.

Mergers 130
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People Behind Purpose at Cisco: During World Day Against Trafficking in Persons, everyone can be an advocate

Cisco: M&A

This blog is part of our People Behind Purpose at Cisco series that focuses on employees driving Cisco’s purpose to Power an Inclusive Future for All.

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Top Five Board Considerations Before Acquiring or Disposing of a Senior Living Facility

JD Supra: Mergers

Despite a decline in overall senior housing M&A activity from 2022 to 2023, nonprofit M&A is pacing for a record year. Many of the same market conditions that cooled overall M&A activity — such as increasing interest rates, tightened lending requirements and operational uncertainty — appear to be causing a surge in nonprofit affiliations, acquisitions and dispositions.

M&A 130
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Barclays says hot seas will lead to a severe hurricane season and names one stock to benefit

CNBC: Investing

The British bank said there's one analytics stock that could actually win from higher claims — and no, it doesn't profit from human misery.

Stock 93
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How Embedded Analytics Gets You to Market Faster with a SAAS Offering

Start-ups & SMBs launching products quickly must bundle dashboards, reports, & self-service analytics into apps. Customers expect rapid value from your product (time-to-value), data security, and access to advanced capabilities. Traditional Business Intelligence (BI) tools can provide valuable data analysis capabilities, but they have a barrier to entry that can stop small and midsize businesses from capitalizing on them.

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Be Mindful of Phantom Equity

JD Supra: Mergers

A new case demonstrates the importance of conducting due diligence on compensatory arrangements and adjusting capitalization representations in merger agreements accordingly. Phantom equity is a form of employee compensation that confers benefits linked to the value of a company’s shares without actually bestowing any ownership of shares on the employee.

Equities 130
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Uber shares hit new 52-week high. How the pros are playing the stock

CNBC: Investing

Pros on CNBC discussed Uber after Oppenheimer reiterated the stock as a "top pick" ahead of the company's earnings report Tuesday.

Stock 98
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Healthcare Trends & Transactions Q2 2023

JD Supra: Mergers

The healthcare M&A market appears to be steadying. Although deal activity through the year appears slightly below the high-water marks for the corresponding period of 2022, deal activity is generally up from the first quarter of 2023, and reported volumes are nearly twice the levels seen in 2018 and 2020. Moreover, and perhaps more interesting than the volume of the transactions and the transactions themselves, are the emerging trends across various sectors that are driving—and impacting—dea

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Europe Vowed to Make Russia Pay for the War. It’s Not That Easy.

The New York Times: Banking

Confiscating Russian state assets frozen by the United States and Europe could breach international law and set a dangerous precedent, experts say.

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Embedding BI: Architectural Considerations and Technical Requirements

While data platforms, artificial intelligence (AI), machine learning (ML), and programming platforms have evolved to leverage big data and streaming data, the front-end user experience has not kept up. Holding onto old BI technology while everything else moves forward is holding back organizations. Traditional Business Intelligence (BI) aren’t built for modern data platforms and don’t work on modern architectures.

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French Labor Law | Key Considerations

JD Supra: Mergers

When considering M&A transactions or group restructuring in France, companies should take into account the high level of protection that French law affords to employees.

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These are the most heavily shorted stocks right now

CNBC: Investing

Investors upped their short bets on a handful of clean energy and biotechnology stocks during the first half of July, according to FactSet data.

Stock 96
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A Guide to Effective M&A Integration Planning

JD Supra: Mergers

When two companies aim to combine, there are countless issues that can arise during the integration stage. As part of any successful merger process, a carefully crafted integration strategy should consider all the potential implications for stakeholders, suppliers, vendors, employees, and customers.

M&A 100
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Analysts bail on Southwest Airlines after its disappointing quarterly earnings

CNBC: Investing

Several Wall Street firms downgraded the company's shares after the company's second-quarter results missed analyst expectations.

IT 98
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How to Leverage AI for Actionable Insights in BI, Data, and Analytics

In the rapidly-evolving world of embedded analytics and business intelligence, one important question has emerged at the forefront: How can you leverage artificial intelligence (AI) to enhance your application’s analytics capabilities? Imagine having an AI tool that answers your user’s questions with a deep understanding of the context in their business and applications, nuances of their industry, and unique challenges they face.

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Morgan Lewis Automotive & Mobility | Q2 2023

JD Supra: Mergers

Welcome to the 36th edition of our newsletter on developments in the automotive industry, published by Morgan Lewis’s automotive and mobility team with contributions from lawyers in our offices around the globe. We counsel our automotive clients on a broad range of industry-specific issues, including matters relating to mergers and acquisitions, antitrust, litigation, regulatory concerns, intellectual property, and labor and employment.

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These health-care companies see opportunity ahead from Alzheimer's drug approval

CNBC: Investing

As Alzheimer's patients seek treatment, they will need MRIs, blood tests and other diagnostics, fueling increased demand for these important tools.

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Alpine Investors launches improvement services platform; KKR headlines six recent data center deals

PE Hub

Renovus-backed Premier International scoops up Information Asset. The post Alpine Investors launches improvement services platform; KKR headlines six recent data center deals appeared first on PE Hub.

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Partnering for Success in the Age of the Partner

Cisco: M&A

The Age of the Partner is here, and partners have played a central role in delivering value to our customers for over 25 years.

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Embedded Analytics Insights for 2024

Organizations look to embedded analytics to provide greater self-service for users, introduce AI capabilities, offer better insight into data, and provide customizable dashboards that present data in a visually pleasing, easy-to-access format. To better understand the factors behind the decision to build or buy analytics, insightsoftware partnered with Hanover Research to survey IT, software development, and analytics professionals on why they make the embedded analytics choices they do.

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Citi raises year-end S&P 500 price target to 4,600, sees higher probability of a soft landing

CNBC: Investing

Citi U.S. equity strategist Scott Chronert raised his year-end 2023 price target on the S&P 500 to 4,600 from 4,000.

S&P 98
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Wolf Midstream sells 43% of Access NGL to Indigenous communities

PE Hub

Based in Calgary, Wolf is an owner and operator of midstream energy infrastructure assets in Western Canada. The post Wolf Midstream sells 43% of Access NGL to Indigenous communities appeared first on PE Hub.

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This bank just raised yields on its 2-year CD — here’s where you can lock in 5%

CNBC: Investing

Two-year CDs have lived in the shadows of 12-month instruments as the Federal Reserve pushed interest rates higher.

IT 98