 Your new post is loading...
In the current environment, listed companies may find it advantageous to use shares rather than cash as acquisition currency for M&A opportunities. The proportion of deals involving share consideration has dropped in recent years as companies and financial investors have enjoyed prolonged periods of cheap, available cash and financial sponsors have had significant levels of dry powder. While these fundamentals remain largely unchanged, liquidity management issues for corporates are in focus like never before. With greater demands on cash and new challenges relating to valuations, some have predicted a rise in public deals involving share consideration which may compete with opportunistic cash offers from financial sponsors. For some companies, the catalyst may be to exploit growth and synergy opportunities. For other companies, survival and/or takeover defence tactics may also be at play – two companies coming together with one balance sheet may, after all, be better at weathering a storm and/or defending a predatory takeover bid.
Nokia declined to comment on Thursday on a media report saying it was working with an investment bank to defend itself from a hostile takeover — the news of which sent its shares flying
|
Scooped by
Institut sur la gouvernance (IGOPP)
January 14, 2020 10:32 AM
|
HP investors should tell Icahn & Xerox to buzz off with their acquisition pitch
|
|
Scooped by
Institut sur la gouvernance (IGOPP)
August 19, 2019 11:59 AM
|
(Londres) Le premier ministre britannique Boris Johnson est prêt à sortir son pays de l’UE le 31 octobre avec ou sans accord de divorce. Pénurie de denrées alimentaires, d’essence et de médicaments : voici les conséquences possibles d’une rupture sans filet.
On July 10, 2019, shareholders at EQT Corporation (“EQT” or the “Company”) overwhelmingly voted for a control slate of directors nominated by a shareholder group led by Toby Z. Rice, Derek Rice, Will Jordan and Kyle Derham (the “Rice Team”). Interestingly, this proxy contest involved the use of a universal ballot, a first in the United States involving a control slate of directors, in which all of the company and dissident’s nominees appeared on their respective proxy cards.
The shareholders said they have engaged with Exxon on climate change and its greenhouse gas emissions since 2005 and the company has "failed to respond adequately" in contrast to peers
|
|
Scooped by
Institut sur la gouvernance (IGOPP)
March 11, 2019 10:12 AM
|
Elliott Management Corp.’s efforts to force Hyundai Motor Co. to pay almost $4 billion in one-time dividends and revamp the board suffered a setback as a prominent shareholder advisory firm came out in support of some of the automaker’s proposals in the proxy fight.
|
|
Scooped by
Institut sur la gouvernance (IGOPP)
August 27, 2018 10:02 AM
|
Wells Fargo executives know that everyone hates them. In the last two years, the bank has launched three separate marketing campaigns hoping to clean up its public image, only to see each effort thwarted by fresh, catastrophic scandals ― like wrongly repossessing 27,000 cars and foreclosing on 400 families for no reason.
Galaxy Digital, the cryptocurrency hedge fund operated by billionaire investor Mike Novogratz, lost $134 million in the first quarter of 2018 due to the 70 percent correction of the crypto market.
Going Public in Canada: Advantages and Advice for U.S. Cannabis Companies
|
|
Scooped by
Institut sur la gouvernance (IGOPP)
March 26, 2018 10:37 AM
|
Uber has lost more Asian territory. After letting go of its Chinese operations in 2016, the ride-hailing giant said Monday it has signed a deal to sell its businesses in Southeast Asia to Grab, its rival in the region.
The last two months have seen renewed worries about the economy. It was meant to be a period of optimism, with plenty of positive figures on unemployment, wage growth and so on...
|
|
Scooped by
Institut sur la gouvernance (IGOPP)
January 25, 2018 9:36 AM
|
Canada has some of the most "420-friendly" markets around for American companies looking to avoid regulatory restriction and federal intervention.
|
|
|
Scooped by
Institut sur la gouvernance (IGOPP)
April 30, 2020 11:09 AM
|
She hates the United States perhaps worse than any person I’ve ever met.” This was President Trump’s assessment of Margrethe Vestager, the Danish politician who, as the Commissioner for Competition, leads the European Union’s antitrust division. Over the past five years, Vestager has become known for her attempts to regulate the tech industry. Her office’s investigations of Apple, Facebook, and Google have resulted in billions of dollars in fines for anti-competitive behavior and tax avoidance, garnering praise from those concerned about big tech’s power, as well as complaints from business leaders and some American politicians. [...] Vestager has also warned of potential Chinese takeovers of European businesses in response to the economic conditions brought about by the coronavirus.
|
|
Scooped by
Institut sur la gouvernance (IGOPP)
February 20, 2020 10:09 AM
|
In the 2020 election cycle, corporate America seems under attack from all directions. Elizabeth Warren and Mark Zuckerberg are in a war of words; Bernie Sanders has proposed codetermination, partial employee ownership, and other major corporate governance reforms; Joe Biden has called for insurance company executives to be jailed; and Donald Trump regularly attacks Jeff Bezos and big media corporations. In one Democratic debate, multiple candidates endorsed stronger antitrust measures against a suite of industries, and Robert Bork—the conservative antitrust lawyer who redefined antitrust law to make the world more favorable for big business—came up twice as a whipping boy.
|
|
Scooped by
Institut sur la gouvernance (IGOPP)
October 21, 2019 11:30 AM
|
Thanks to thecorporatecounsel.net for catching this announcement from NYC Comptroller Scott Stringer and the NYC Retirement Systems, which reported that, since the inception of the Comptroller’s “Boardroom Accountability Project,” there has been a 10,000% increase in the number of companies with proxy access. Stringer began the Project in 2014 with proxy access proposals submitted to 75 companies. At the time, Stringer viewed the campaign as having been “enormously successful: two-thirds of the proposals that went to a vote received majority support and 37 of the companies have agreed to enact viable bylaws to date.” (See this PubCo post and this PubCo post.) So effective was the proxy access campaign that Stringer leveraged its success and the “powerful tool” it represented to “demand change” through the Boardroom Accountability Project 2.0, focused on corporate board diversity, independence and climate expertise.
|
|
Scooped by
Institut sur la gouvernance (IGOPP)
August 19, 2019 11:55 AM
|
Who's right, the sleuth who exposed Bernie Madoff's gigantic Ponzi scheme, or GE's prestigious board and highly-regarded CEO, a team lauded on Wall Street for making great progress in rescuing and reforming the battered conglomerate? In his flame-throwing report released on August 16, titled "General Electric, A Bigger Fraud Than Enron," Harry Markopolos––the forensic accountant who nailed Madoff––accuses GE of engaging in $38 billion in accounting fraud.
Finance ministers say Europe is increasingly dependent on Chinese and US technology
The U.S. cannabis industry has been severely restricted in its ability to access banking services because of federal prohibition. Two Canadian bank heads say they too will steer clear of the sector until new laws are passed.
|
|
Scooped by
Institut sur la gouvernance (IGOPP)
November 20, 2018 10:04 AM
|
A lack of succession planning can prove costly, potentially leaving companies with few options when faced with a transition at the top. A report by Russell Reynolds Associates provides new information on CEO turnover and lays out six phases of a well-conceived transition process. Let’s go inside the latest findings.
|
|
Scooped by
Institut sur la gouvernance (IGOPP)
August 6, 2018 10:22 AM
|
Make sure you check out our previous edition here, now let’s go over what happened in crypto this week.Also, make sure you subscribe for this week’s edition of The CCN Podcast on iTunes, TuneIn, S…...
The Canadian Securities Administrators is expected to release comments on the use of SDAs soon...
|
|
Scooped by
Institut sur la gouvernance (IGOPP)
March 28, 2018 10:27 AM
|
The phenomenon began in earnest a couple of years ago, when Oregon became the first U.S. state to open its marijuana industry to non-residents. Some of those early deals were backed by Canadian public money, and the phenomenon of Canadian investment has only increased over time.
|
|
Scooped by
Institut sur la gouvernance (IGOPP)
March 12, 2018 10:34 AM
|
Terms like “dawn raid“, “poison pill“, and “shark repellent” might seem like they belong in James Bond movies, but there’s nothing fictional about them – they are part of the world of mergers and acquisitions (M&A).
|
|
Scooped by
Institut sur la gouvernance (IGOPP)
February 9, 2018 10:22 AM
|
Hedge funds are lightly regulated private investment funds that use unconventional investment strategies and tax shelters in an attempt to make extraordinary returns in any market. Typically, these funds are structured as limited partnerships and limit investment to business or institutional investors.
|
