Apparently yesterday was Store-Closing Wednesday. Shortly after 4 pm yesterday, Macy's revealed a list of stores that will be closing in the near future. Just a short time later, Sears announced it will close 150 Sears and K-Mart stores. Almost 50 of the Sears and K-Mart store closings had leaked out over the previous week, and we wrote about them as the corresponding local stories emerged. Yesterday's list came from Sears and included 100 more names that were previously not revealed. The properties...

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U.S. Ambassador to Portugal and the Portuguese Minister of Economy discuss transatlantic cooperation with Europe in the biotechnology sector. Robert Sherman, the U.S. Ambassador to Portugal, and Manuel Caldeira Cabral, the Portuguese Minister of Economy, traveled to Boston and Cambridge, Massachusetts, on Dec. 19 and 20 to discuss transatlantic synergies with Europe in the biotechnology sector. They were joined by a first-class group of representatives from Portuguese biotech companies and investors in a visit co-organized by AICEP-Portuguese Trade and Investment Agency, Portugal Ventures,...

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The key questions for the FX markets in 2017 are: 1) what impact the Trump presidency will have on the US and world economy, and 2) whether the populist movements that had such an impact on the politics of the developed world in 2016 will continue to have an influence via the French, German Dutch and possibly Italian elections in 2017. The issue of Brexit and the triggering of Article 50 will also come into sharper relief in Q1, and...

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Wilson Sonsini Goodrich & Rosati is pleased to present its 2016 Antitrust Year in Review, which examines the most significant antitrust matters and developments of the past year. Among other topics, the report discusses merger enforcement trends in the United States, Europe, and China; agency investigations in both the U.S. and abroad; the Department of Justice's criminal antitrust enforcement program; and civil antitrust litigation activity. We hope that you find the report to be useful. For further information, please contact a...

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Lincoln International, a global mid-market investment bank, is pleased to present the inaugural issue of the Healthcare Valuations DealReader.  This report, published together by Lincoln International’s Healthcare and Valuations & Opinions Groups, features aggregated valuation and financial performance data and trends for five broader segments of healthcare: healthcare services, other services, medtech, pharma and healthcare IT.  Thus, it offers insights on valuation and financial topics of interest to executives, business owners and investment and valuation professionals active or interested in...

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The New York State Department of Labor (NYSDOL) has adopted the proposed amendments to its Wage Orders – ending weeks of speculation about whether and when increases in the minimum salaries for employees to be exempt from overtime will come into force.1 This article summarizes the changes, which will take effect on December 31, 2016. Schedule of NYS Minimum Salaries for Overtime Exemption  The amendments are significant. Notably, the exemption thresholds for executive and administrative employees2 will increase depending on employer size,...

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On 27 December 2016 the Luxembourg Tax Authorities (Administration des contributions directes) issued Circular Letter L.I.R. – N° 56/1 – 56bis/1 (the “New Circular Letter”) on the tax treatment of companies engaged in intra-group financing transactions.   The New Circular Letter replaces the previous circular letters LIR N° 164/2 and 164/2bis dated 28 January and 8 April 2011 in order to render the Luxembourg transfer pricing rules compliant with the revised Chapter I Section D of the OECD Transfer Pricing Guidelines. The...

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Wilson Sonsini Goodrich & Rosati is pleased to present its 2016 Technology and Life Sciences IPO Report, which presents key data related to the pricing of 49 U.S.-based technology and life sciences issuers between January 1 and December 1, 2016. In a year of uncertainty in the domestic and international financial markets, the U.S. market for new issuers recovered from a halting start to post a solid second half.   Technology For technology IPOs, 2016 was a tale of two halves. The first...

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Houlihan Lokey's Consumer, Food & Retail Group is pleased to announce that Maxi Canada, Inc. (Maxi), a portfolio company of Lake Pacific Partners LLC, has been acquired by Altamont Capital Partners LLC (Altamont). The transaction closed on December 9, 2016. Founded in 1970 and located in St-Lin-Laurentides, Quebec, Maxi has developed an attractive portfolio of frozen poultry products sold throughout the United States. The company is known for its high-quality, great-tasting products sold under the Dino Buddies and Yummy...

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Many businesses and contractors who’ve worked for large companies may find themselves waiting and waiting to receive payment by the year’s end. Despite having delivered their products and services on time — and filed their invoices accordingly — employers can be left scrambling to meet payroll deadlines and pay suppliers when December 31st rolls around and they haven’t seen a dime from the larger companies with whom they’ve collaborated. How come some companies hold out so long to make good on their contracts?...

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