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Money

Billtrust to go private in $1.7B buyout

“We believe B2B payments and accounts receivable continue to be ripe for massive disruption and innovation, and our partnership with EQT will provide us with greater resources and flexibility to build on our leadership position,” Founder and CEO Flint Lane said in a statement.

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Provident, Lakeland banks clinch $1.3B merger agreement

“We are excited to announce this transformational combination of two amazing organizations," Provident CEO and President Anthony Labozzetta said in a prepared statement. "The scale and profitability of the combined organization will enable us to invest in the future, better compete for market share, and better serve our customers and communities."

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Time is money

Proxy fight over, Republic Bank drama picks back up

Following a change in leadership at the institution, investor groups are voicing concerns about the terms of interim CEO Harry Madonna's financial compensation, which they say incentivizes a sale, and the slow roll-out of a strategic review process. Meanwhile, former leader Vernon Hill and an ally filed a lawsuit against the bank, as well as Madonna and other board members, claiming defamation, false light and breach of contract.

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Taxes

Does the tax code penalize manufacturers?

According to President Joe Biden, the recently passed Inflation Reduction Act will, among other accomplishments, “finally ask the largest corporations to pay their fair share [of taxes].” Some organizations say manufacturers are already getting the shaft when it comes to taxes — and the IRA will only make it worse. Experts who spoke with NJBIZ, however, say the situation may be more nuanced.

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