peHUB First Read

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* Mark MacLeod: Earn-outs (almost) never work

* Dan Caplinger: Don’t rush to buy Europe’s “bargains”

* Om Malik: Why a sudden surge of tech M&A? Because startups pay attention.

* Morning Call: U.S. futures point lower, London falls early, European shares retreat, the Nikkei hits 11-week closing low and Shanghai shares slip.

* FDIC “balancing act” offers new approach to bank deals

* Glucose biofuel cell could revolutionize medical technology

* BC Partners wins an investment period extension. The bigger question is whether it will “win” a new fund…

* John Lilly, the former Mozilla boss who just moved over to Greylock Partners, believes that Firefox is on the decline.

* Tweet of the Day: @katierosman The only email I am guaranteed to open is one that is recalled.

* Bloomberg: Congressional momentum keeps building for change to carried interest tax treatment.

* Bain & Co: 10 steps to successful M&A integration (.pdf)

* Who owns the corporation?