Takeda’s Shippin’ Up to Boston, Oscar Buzz for Cooper and Gaga, Whistleblowers at Golman Sachs, China Puts Licensing on Hold and Cliff Braves Florence

Good Wednesday Morning,

Daylight –

Millennial Matt here again writing the Morning Report.

Cliff has an update on the storm from the Carolina coast. Looks more than a disruption.

Cliff: Time to Split – this Florence is not an Arabian princess from Lebanon, but a monster storm that just blew past Bermuda.

My underground weather friends tell me this morning she will slam Charleston hard as it’s built what they call a northern air ridge that will edge it down south. I heard something different in their voices last night as they described Florence as a one of a kind beauty. I know. Time to go.

M&A – Opendoor acquired Open Listings, an online home buying platform.

United Rentals agreed to buy BlueLine Rental, an equipment rental company, for about $2.1 billion.

Genstar Capital sold Accruent, a provider of physical resource management solutions, to Fortive Corporation, for $2 billion.

MidOcean Partners acquired Florida Food Products, a manufacturer of natural and clean label ingredients, from Kainos Capital.

TowerBrook Capital Partners agreed to sell Wilton Brands, a provider of cake decorating, candy making, and party products, to Dr. August Oetker KG.

Tiger Peak Capital acquired a majority of Voice Comm, a supply chain manager for mobile device accessories.

Hot – Out of Cali. – Governor Jerry Brown just pledged his state will have totally clean and green electrical power by 2045, a definite stab at Trump’s pulling out of the Paris agreement. Greater incentive for green power tech to flock to California.

Hurricane Prices – Crude oil shot up to $2 per barrel in the wake of Florence. Expected to be brief, but no less dramatic.

Buzzard’s Roost – By the way, 934 inmates and 100 prison staff prepare to hunker down for the hurricane, even though the prison is in the evacuation zone.

Goldman’s soon-to-be-crowned CEO David Solomon just got nabbed for trying to sway a whistleblower who claimed his colleagues were trying to get their hands on confidential client info. NY Times report reads Solomon, Goldman’s counsel and execs all caught wind of the allegations and told the guy to keep his head down. King’s getting feet pressed to the fire before the coronation.

Style – Word of the Day: veracity [vəˈrasədē] noun

conformity to facts; accuracy

Economics – The number of job openings surpassed the number of job seekers for July by 650,000. This is forcing employers to resort to alternative, non-traditional ways to find employees. Double-edged sword – not enough people available for work, but that means there’s a wealth of openings for job seekers. Another argument for automation if no balancing act.  

China is not accepting license applications for US companies amid all the tariff and trade messiness, even to those they promised in the past.

Live Rounds – Japanese drugmaker Takeda will move its HQ to Boston. They were originally in Chicago, but will commence moving as soon their acquisition of Shire finalizes. Deal is worth $64 billion.

Culture –A Star is Born” is already getting Oscar buzz, especially hints for star-director Bradley Cooper and showstopper Lady Gaga. Despite issues with pacing and a story some critics call “stale,” they all admit the two stars are perfect. All signs point to acting noms.

Another note from Cliff – This email from Richard Kopelman is exactly the type of away message you need when you’re out. Tired of, “I don’t really check my email so I may get to it, may not.”

Investment Banking – Castanea Partners invested in West Coast Fitness, a franchisee and area representative of Orangetheory Fitness.

Hedge Funds – Apax Partners agreed to invest in Paycor, a provider of HR, payroll, time, recruiting, benefit administration and other services.

IPO – Remora Royalties, an oil and natural gas royalties firm, said it plans to raise $105 million in an IPO of 5.3 million shares priced between $19 to $21.

Bank7, an operator of regional bank branches, said it plans to raise $65 million in an IPO of 3.3 million shares priced between $18 to $21.

Venture Capital – Biodesy, a biomolecule characterization company raised $20 million.

Facet Wealth, a provider of wealth management and financial planning services, raised $33 million.

Packet, a bare metal cloud built for developers, raised $30 million.

Treez, a provider of point of sale software for the legal cannabis industry, raised $11.5 million.

Impossible Aerospace, a manufacturer of battery electric flight products,raised $9.4 million.

Spotlight – Commerce Dinner

October 3, 7:00 p.m.

Nashville

Contact events@oxfordcenter.com for more info.

And that’s what’s ahead, Matt