(Charlotte, NC – October 2, 2018)
2018 M&A volume is outpacing 2016 and 2017.
Source: Mergermarket; includes reported value of announced transactions involving acquisition targets in the US and Canada.
What We’re Reading
Below are links to recent articles we found interesting (no partnerships expressed or implied).
(The Wall Street Journal) There has been a stunning erosion in the past couple of years of covenants. Buyout sponsors have also presented aggressive versions of EBITDA, to cut the debt multiples on their deals and make them seem less risky. We referenced this trend in our last newsletter. Blackstone is raising one of the biggest buyout debt packages to finance its acquisition of Thomson Reuters’ financial information business.
(CNBC) Like you, Jake Knapp and John Zeratsky were once obsessed with inbox zero. These former Googlers — who now call themselves “recovering email addicts” — once saw deleting email as the “hallmark of productivity.” These Google veterans suggest these seven tips to keep you from getting trapped in your inbox. Their quick fixes can help you take control of your day and focus on true priorities.
(The Wall Street Journal) Amazon is opening a New York store to sell highly-rated products. While Amazon’s website has disrupted traditional bricks-and-mortar shopping, company executives have recognized the value of having a store focused on certain product categories, according to people familiar with their thinking.
(The New York Times) California became the first state to make its publicly-held corporations to include women on their boards after Gov. Jerry Brown signed a bill into law on Sunday. The bill, which applies to companies “whose principal executive offices” are in California, requires them to have at least one woman on their boards by the end of 2019. The article includes quotes from those in favor of and against the bill.
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