Fri.May 19, 2023

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Blast From the Past: FTC Revives Conglomerate Concerns as Basis for Merger Challenges

JD Supra: Mergers

On May 16, 2023, the Federal Trade Commission filed a complaint in the Northern District of Illinois seeking to enjoin closing of Amgen Inc.’s proposed $28 billion acquisition of Horizon Therapeutics. This is the first time in over 40 years that a US antitrust agency has challenged a transaction based on a “conglomerate” theory of competitive harm—that is, concerns based on neither direct competition nor a supplier-purchaser relationship between the merging parties.

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05-19-2023 Newsletter: TONIGHT ONLY: $99 Buyside Starter Kit

OfficeHours

TONIGHT ONLY: $99 Buyside Starter Kit Use code BUYSIDESTARTER for $900 OFF! TONIGHT ONLY We didn’t say it… we’re just showing you what others have been telling us LIFETIME ACCESS TO ANY BUYSIDE PLATFORM (select one between PE, VC, Growth, or HF) + a Single 60-MINUTE COACHING CALL (must use within 30 days)…. Generally $999, ONLY $99 TONIGHT! Sign up now using the code BUYSIDESTARTER and enjoy $900 OFF for our Buyside Starter Kit!

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Delaware Court of Chancery Finds for Oracle Founder Larry Ellison and CEO Safra Catz in Post-Trial Decision Arising from Oracle’s Acquisition of NetSuite

JD Supra: Mergers

Court of Chancery holds that conflicted transactions involving a potential controller may still be considered under the deferential business judgment rule, rather than entire fairness, if the evidence does not establish the potential controller exercised actual control. Procedural safeguards isolating a potential controller from the Board’s decision-making process can preclude a finding of actual control.

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20 angel investor networks you should know about

Growth Business

By Dom Walbanke on Growth Business - Your gateway to entrepreneurial success UPDATED: The UK has the most developed web of angel investor networks in Europe with 15,000 angel investors dotted around the country, according to the UK Business Angels Association (UKBAA). They’ve been generous with their cash, too. Recent figures from accountancy firm UHY Hacker Young found a record £2.3bn was invested into UK start-ups via the Enterprise Investment Scheme (EIS) in the year ending April 2022 into 4,

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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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Del. Chancery Finds Potential for Control Insufficient to Apply Entire Fairness

Deal Lawyers

VC Glasscock recently issued the seventh memorandum opinion in the litigation involving Oracle’s 2016 acquisition of NetSuite, which John has blogged about here previously.

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JetBlue-American Partnership Struck Down by Federal Judge

The New York Times: Mergers, Acquisitions and Dive

An alliance begun in 2021 at four airports in the New York area and Boston allowed the airlines to sell tickets on each other’s flights and share revenue.

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PE-backed 360training acquires two medical training and workplace safety providers

PE Hub

360training is an online regulated training provider. The post PE-backed 360training acquires two medical training and workplace safety providers appeared first on PE Hub.

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Powell Says Inflation Remains Too High

The New York Times: Banking

The Fed chair said that it would take “some time” for inflation to moderate and that the central bank would continue to look at data as it considers whether to raise rates next month.

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Morgan Stanley chief Gorman to step down within a year

Financial Times - Banking

Three internal candidates vie to succeed Australian banker who turned Wall Street bank into wealth management giant

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Six solar investments for the North American private equity market

PE Hub

Wood Mackenzie forecasts the US community solar market to grow 118% over the next five years. The post Six solar investments for the North American private equity market appeared first on PE Hub.

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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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10 Characteristics of Successful Deal Targets

Devensoft

When it comes to making a successful deal, choosing the right target is crucial. To increase your chances of a profitable acquisition, it’s important to look for certain characteristics in potential deal targets. Here are 10 key factors to consider when evaluating potential deals. Are you looking to enhance the efficiency of your M&A process?

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KKR, L Catterton invests in Restaurant365; Sentinel Capital exits ECM for $1.1bn; 6 solar deals in PE

PE Hub

Private equity bets on solar energy. The post KKR, L Catterton invests in Restaurant365; Sentinel Capital exits ECM for $1.1bn; 6 solar deals in PE appeared first on PE Hub.

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Golden Triangle: Growth = ROC * RR | Learnings in Investment banking course, Financial modelling

Wizenius

Welcome to our investment banking training course, where we delve into the dynamic world of finance and equip aspiring professionals with the knowledge and skills to excel in this competitive industry. In this blog post, we will explore an influential concept coined by finance guru Ashwath Damodaran—the Golden Triangle. Understanding this powerful framework can help you unravel the secrets to sustainable growth in the realm of investment banking.

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KKR and L Catterton leads $135m round for Restaurant365

PE Hub

Other investors include ICONIQ Growth and Bessemer Venture Partners. The post KKR and L Catterton leads $135m round for Restaurant365 appeared first on PE Hub.

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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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Lazard CEO Jacobs to pass reins to Orszag as deal slump drags on

American Banker - Investment Banking

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How Do Economic Conditions Affect The Lower Middle Market?

Benchmark International

How do Economic Conditions affect the Lower Middle Market? The lower middle market is typically defined as companies with an enterprise value (EV) between $5 million and $100 million. A range of factors, including economic conditions, interest rates, and availability of financing, influences M&A activity in this market segment. In recent years, lower middle market M&A has been driven by several factors, including a strong economy, low-interest rates, and the availability of financing.

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Wind Point-backed Handgards buys foodservice tableware products EMI Yoshi

PE Hub

Handgards is a North American manufacturer and supplier of disposable food safety and hygiene-oriented products for the foodservice industry. The post Wind Point-backed Handgards buys foodservice tableware products EMI Yoshi appeared first on PE Hub.

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NMS recaps clinical research sites AMC Research and Central Research Associates

PE Hub

AMC was founded by Dr. Reza Bolouri while CRA was founded by Dr. William Whitley in 2016. The post NMS recaps clinical research sites AMC Research and Central Research Associates appeared first on PE Hub.

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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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Oaktree appoints Halagan as managing director and insurance solutions head

PE Hub

In Halagan's new position, he will be primarily responsible for working with insurance clients globally and developing solutions for their balance sheet assets. The post Oaktree appoints Halagan as managing director and insurance solutions head appeared first on PE Hub.

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KKR appoints Pietrzak as private credit global head

PE Hub

Most recently, Pietrzak served as co-head of private credit with Matthieu Boulanger, who is leaving to pursue other opportunities. The post KKR appoints Pietrzak as private credit global head appeared first on PE Hub.

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Sentinel Capital divests manufacturer ECM to nVent Electric plc

PE Hub

The purchase price is $1.1 billion. The post Sentinel Capital divests manufacturer ECM to nVent Electric plc appeared first on PE Hub.

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Iron Path-backed CPI acquires Balcones Pain Consultants and Water Leaf Surgery Center

PE Hub

This acquisition adds three clinics and one ambulatory surgical center in the Austin metropolitan area to CPI’s national interventional pain management platform. The post Iron Path-backed CPI acquires Balcones Pain Consultants and Water Leaf Surgery Center appeared first on PE Hub.

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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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DC Advisory taps Kohr as new US CEO

PE Hub

His appointment is alongside a revised leadership structure that retains former CEO Scott Wieler as chairman of the board. The post DC Advisory taps Kohr as new US CEO appeared first on PE Hub.