Corporate Finance: Page 30
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Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
Intel CEO Bob Swan to Depart
Intel’s chief executive officer Bob Swan is stepping down in February.In a statement, the company announced its board appointed Pat Gelsinger as its new CEO, effective Feb. 15. Gelsinger will also join the Intel board of directors.Pat Gelsinger The move follows weeks of pressure from activist inv...
By Lauren Muskett • Jan. 13, 2021 -
Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
Weighing COVID-19 (and Other Macro Factors) in Bankruptcy Valuations
Valuation plays a key role in financial restructuring, whether out of court or in Chapter 11. Valuation determines, among other things, the recovery for creditors. Pending that, it is a determinant in obtaining financing and in keeping secured creditors at bay. Failure to give proper weight to ma...
By Vincent Ryan • Jan. 13, 2021 -
Explore the Trendline➔
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TrendlineTop 5 stories from CFO.com
From CPA licensure changes to undergoing a digital transformation, these are the most popular stories CFOs are reading.
By CFO.com staff -
Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
Visa Calls Off $5.3B Merger Deal With Plaid Over DOJ Lawsuit
Payment solutions provider Visa and fintech company Plaid have called off their merger plans originally announced in January last year.What Happened: The U.S. Department of Justice had filed a lawsuit to stop the $5.3 billion merger deal in November — claiming that the transaction would eliminate...
By Lauren Muskett • Jan. 13, 2021 -
Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
Top U.S. Banks to Remove Hong Kong Listed Products
Top U.S. banks like JPMorgan Chase, Goldman Sachs, and Morgan Stanley will delist structured products listed on the Hong Kong stock exchange, according to a Financial Times publication on Sunday.What Happened: Removal of these 500 structured products is the outcome of outgoing President Donald Tr...
By Lauren Muskett • Jan. 11, 2021 -
Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
Staples Offers to Buy Office Depot
Office-supply company Staples has offered to buy Office Depot for $40 per share in cash.In a letter to the board of directors of Office Depot’s parent company, ODP Corp., Staples’ parent company, USR Parent, proposed acquiring 100% of the outstanding common stock of ODP in an all-cash transaction...
By Lauren Muskett • Jan. 11, 2021 -
Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
CFOs On the Move: Week Ending January 8
Nick Giovanni Online grocery platform Instacart appointed Nick Giovanni as finance chief, effective January 27. Giovanni worked for more than 20 years at Goldman Sachs, most recently as head of its global technology, media, and telecom group. At Goldman Sachs, he advised clients on some of the la...
By Lauren Muskett • Jan. 8, 2021 -
Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
Acacia Breaks Merger With Cisco
Semiconductor maker Acacia Communications said it has terminated its $2.6 billion merger agreement with Cisco, saying it had not received approval from China’s State Administration for Market Regulation before the January 8 deadline.“The proposed merger, announced in July 2019, was conditioned on...
By Lauren Muskett • Jan. 8, 2021 -
Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
Starbucks Names New CFO
Pat Grismer Starbucks has named Rachel Ruggeri chief financial officer, replacing Pat Grismer, who is retiring February 1.Grismer is staying with the company as an adviser to CEO Kevin Johnson through May 2. He had been CFO since 2018.“I want to thank Pat for his leadership and his many contribut...
By Lauren Muskett • Jan. 7, 2021 -
Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
A New Year’s Resolution: The CFO Should Own Digital Transformation
PE (and other business owners) have a DX ROI problem.Let me translate the acronym-speak: Private equity (PE) partners and, in a similar way, boards of directors and shareholders at public companies, are struggling to see the investment return from expensive digital transformation (DX) initiatives...
By Sanjay Purohit • Jan. 7, 2021 -
Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
Roblox to Go Public Through Direct Listing
Online gaming platform Roblox disclosed Wednesday that it raised $520 million in a Series H funding, primarily led by investment firms Altimeter Capital and Dragoneer Investment Group. Other investors included The Group of Santa Barbara and Warner Music Group.What Happened: Along with the Series ...
By Lauren Muskett • Jan. 7, 2021 -
Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
AMC Still Needs $550M to Stay Afloat Through 2021, CEO Says
Adam Aron, CEO of the world’s biggest chain of theaters – AMC Entertainment Holdings, disclosed Tuesday that the company had raised $200 million in funding, but the proceeds were still $550 million short of the targeted $750 million threshold, reports CNBC.What Happened: The pandemic forced the t...
By Lauren Muskett • Jan. 6, 2021 -
Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
Trump Issues Ban on Chinese Payment Apps
U.S. President Donald Trump has issued an executive order prohibiting transactions that use the popular Chinese payment app Alipay. Trump said the “pace and pervasiveness” of Chinese technology presented a continuing threat to the U.S. national security, foreign policy, and economy.“The United St...
By Lauren Muskett • Jan. 6, 2021 -
Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
Finance Bots: Overcoming the Hesitation
Many finance and accounting teams, under immense pressure and facing resourcing challenges stemming from the pandemic, are turning to automation for answers. The automation space, which grew at a compound annual growth rate of 30% from 2017 through 2022, must now also contend with COVID-19 as an ...
By Scott Szalony • Jan. 6, 2021 -
Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
Square CEO Opposes FinCEN’s Proposed Crypto Rules
Jack Dorsey, CEO of Twiter and financial services company Square, on Monday, raised concerns over proposed regulations for certain digital asset transactions in a comment letter addressed to the policy division of the Financial Crimes Enforcement Network (FinCEN).What Happened: Under the proposed...
By Lauren Muskett • Jan. 5, 2021 -
Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
Brand Evangelists Can Boost Your IPO Price
Many analysts are scratching their heads as to why DoorDash and Airbnb exploded in value on their first days of trading, leaving billions of dollars on the table. Yet, there is really a simple explanation. They forgot about the little guy when they priced their initial public offerings.Profession...
By Vincent Ryan • Jan. 5, 2021 -
Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
10 IPOs to Watch Out for in 2021
The $150 billion raised by IPOs in 2020 was the best since the dot-com boom era. Data from PricewaterhouseCoopers shows companies raised money through 183 traditional IPOs and over 240 SPACs in 2020.Here is a look at 10 companies expected to IPO in 2021.AffirmFintech company Affirm was scheduled ...
By Lauren Muskett • Jan. 4, 2021 -
Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
2020’s Best Advice for CFOs
CFO publishes more than 200 columns from experts, consultants, and finance chiefs of operating companies each year. Of the wealth of advice our authors dispensed during 2020, we assembled some of the best from 10 articles published during the year. These pieces not only struck a chord with reader...
By Vincent Ryan • Jan. 1, 2021 -
Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
Short Sellers Fleeing Netflix, Alphabet, and Other Tech Names
Since the beginning of November, undervalued market sectors like the energy sector and the financial sector have outperformed the high-growth tech sector in the U.S. market. This is leading some investors to wonder whether tech’s more than decade-long leadership position may finally be coming to ...
By Lauren Muskett • Dec. 23, 2020 -
Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
SEC Backs NYSE Plan for Non-Traditional IPOs
In a major move to encourage more companies to go public, the U.S. Securities and Exchange Commission has approved a New York Stock Exchange plan to allow issuers to raise new capital through a “direct” listing.The rule change announced on Tuesday will give companies an alternative to the traditi...
By Matthew Heller • Dec. 23, 2020 -
Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
Justice Department Sues Walmart Over Opioid Prescriptions
The U.S. Department of Justice has filed a civil complaint against Walmart over its role in the opioid crisis, alleging unlawful conduct by the company resulted in hundreds of thousands of violations of the Controlled Substances Act.In a statement, the Justice Department said Walmart knowingly fi...
By Lauren Muskett • Dec. 23, 2020 -
Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
SoftBank’s SPAC Files for IPO, May Acquire Vision Fund Portfolio Companies
SoftBank Group-backed blank check company SVF Investment on Monday filed a preliminary prospectus with the SEC for an initial public offering.SVF Investment plans to list its common stock on NASDAQ under the symbol “SVFA” and raise roughly $604 million from the IPO.What Happened: SVF Investment w...
By Lauren Muskett • Dec. 22, 2020 -
Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
IAC to Spin Off Vimeo
The board of IAC/InterActive has approved a plan to spin off its stake in the video software company Vimeo into a separate, publicly-traded company.The company said it plans to hold a stockholder meeting in the first quarter of 2021 to consider the proposal. If approved, the spin off is expected ...
By Lauren Muskett • Dec. 22, 2020 -
Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
Opinion
Moving Beyond Diversity to Foster Inclusion in Finance
Diversity and inclusion in finance aren’t new concepts. It’s long been a top priority for leaders in our profession, and in this year of uncertainty, we need new ideas and diversity of thought to re-imagine the path forward. The tragic events of 2020 have revealed the disparities that...
By Kimberly N. Ellison-Taylor • Dec. 22, 2020 -
Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
Don’t Wait to Wind Down ‘Zombie’ Subsidiaries
As businesses grow, their legal entity organizational charts often grow as well. While subsidiary entities are created for specific purposes, there may come a time when they no longer serve those purposes. It is not uncommon for a company to have a subsidiary in its organizational structure that ...
By Gene Kohut • Dec. 21, 2020 -
Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
Thoma Bravo Buys RealPage for $10.2B
Private equity firm Thoma Bravo, one of the most active acquirers in 2020, has reached an agreement to buy publicly held real estate software provider RealPage. The deal is valued at $10.2 billion, the companies said.Under the terms of the deal, RealPage stockholders would get $88.75 per share of...
By Vincent Ryan • Dec. 21, 2020
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