Hints and tips:
...“This decision has implications for how corporations think about their DEI programmes, their commitments to affirmative action and the like,” he said....
...Clayton, Dubilier & Rice has named Mittu Sridhara as an operating principal. He was previously chief operating officer of Eurowag....
...Private equity firm Clayton, Dubilier & Rice has appointed former Ball Corporation chief John Hayes as an operating adviser....
...Like the Reagan-Thatcher revolution, which took power from unions and unleashed markets and corporations, Joe Biden’s 2021 executive order may well be remembered as a major economic turning point — this...
...When the PC billionaire’s computer empire faced obsolescence, Dell teamed up with Silver Lake private equity dealmaker Egon Durban to first take his company private, then buy technology conglomerate EMC Corporation...
...Clayton, Dubilier & Rice has hired Nadav Tomer as an operating adviser to CD&R funds, focused on healthcare investing. He was global president of Johnson & Johnson’s DePuy Synthes Spine franchise....
...Late last year, Clayton, Dubilier & Rice used the same strategy to sell a majority of its investment in automotive repair company Belron, also at a €21bn valuation, to Hellman & Friedman....
...Parekh, 77, chairs Housing Development Fund Corporation (HDFC), India’s biggest mortgage lender....
...Unlike in the Belron case, private equity firms often arrange continuation fund deals without running a competitive sale process in which corporations or rival buyout groups are invited to bid....
...The mood changed in 2018 as they began to convert from partnerships into corporations with more shareholder rights, opening their shares to inclusion in stock indices and mutual fund portfolios....
...For example, when KKR and Clayton, Dubilier & Rice acquired the listed software company Cloudera for $5bn earlier this year, securities filings included an 800-word description of the more than 10 banks...
...Jay Clayton, former SEC chair, is an Apollo board member. But Republican senators had called on the SEC to reject Nasdaq’s proposal....
...Clayton, Dubilier & Rice has hired Gordon Riske, chief executive of KION Group, as an operating adviser to CD&R Funds....
...The resubmission changes would increase the thresholds that shareholders need to reach in order to force change at big corporations....
...In addition, Clayton will return to Sullivan & Cromwell, where he was a partner before joining the SEC. More here....
...It could have damaging ramifications for the audits of multinational corporations such as Apple or General Motors that are headquartered in the US and have large operations in China....
...But will Clayton lend an ear?...
...One recent statement written by John Coates, acting director of the SEC’s division of corporation finance, suggested that the rosy financial projections associated with Spacs rested on shaky legal ground...
...In a statement on Wednesday, Jay Clayton, the SEC chairman, and Bill Hinman, the securities regulator’s head of corporation finance, told companies information about their resource needs and future outlook...
...Job moves Jay Clayton, the former Sullivan & Cromwell attorney, is stepping down as chairman of the US Securities and Exchange Commission at the end of the year....
...The new standards will alleviate smaller managers from “unnecessary burdens”, said SEC chairman Jay Clayton....
...“These endorsements were actually part of a false letter-writing campaign that had been bought and paid for by corporations. This is the ‘swamp’ at its worst.”...
...“Equity financing has double taxation: you pay corporation taxes, and then shareholders pay tax on the dividends.” says Markus Brunnermeier, an economics professor at Princeton University....
...“You got duped” became a “mouthpiece” for a group funded by corporations that stood to benefit from the reforms, Democratic senator Chris Van Hollen told Clayton at the December hearing....
...“I read it over the weekend and it’s terrible,” Mr Clayton said. “We need to do something to make sure these kinds of things don’t happen.”...
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