Deals of the month

International Tax Review is part of Legal Benchmarking Limited, 1-2 Paris Garden, London, SE1 8ND

Copyright © Legal Benchmarking Limited and its affiliated companies 2026

Accessibility | Terms of Use | Privacy Policy | Modern Slavery Statement

Deals of the month

See who has done the tax work on this month’s biggest deals



Type of Deal

Value

Acquirer

Target

Adviser to acquirer (tax)

Adviser to target (tax)

Acquisition

$24 billion

Becton, Dickinson and Company

C.R Bard

Skadden, Arps, Slate, Meagher & Flom

Wachtell, Lipton, Rosen & Katz

Merger

$14.5 billion

South State Corporation

Park Sterling Corporation

Wachtell, Lipton, Rosen & Katz

McGuireWoods

Acquisition

$13.3 billion

Cenovus Energy

ConocoPhillips' 50% stake in the Foster Creek Christina Lake oil sands partnership and the majority of its western Canada Deep Basin gas assets

Wharton & Garrison

Goldman, Sachs & Co (financial adviser) advised by Skadden, Arps, Slate, Meagher & Flom

Merger

$7.4 billion

Care Capital Properties

Sabra Health Care REIT

Sidley Austin

O’Melveny & Myers; Fried, Frank, Harris, Shriver & Jacobson

Acquisition

$7.2 billion

Thermo Fisher Scientific

Patheon

Wachtell, Lipton, Rosen & Katz

Skadden, Arps, Slate, Meagher & Flom

Acquisition

$5.6 billion

Bain Capital, LP and Cinven Partners

STADA Arzneimittel AG


Skadden, Arps, Slate, Meagher & Flom

Acquisiton

$4.2 billion

Tyson Foods

AdvancePierre Foods Holdings

Davis Polk & Wardwell

Skadden, Arps, Slate, Meagher & Flom

Acquisition

$3.3 billion

Moody's Corporation

Bureau van Dijk Electronic Publishing BV

Skadden, Arps, Slate, Meagher & Flom

Acquisition

$2.2 billion

First Horizon National Corp

Capital Bank Financial Corp

Sullivan & Cromwell

Wachtell, Lipton, Rosen & Katz: Joshua Holmes

Acquisition

$1.7 billion

Intact Financial Corporation

OneBeacon Insurance Group, Ltd.

Skadden, Arps, Slate, Meagher & Flom; Blake, Cassels & Graydon


Acquistion

$627 million

ORIX Corporation

Ormat Technologies


Davis Polk & Wardwell

Acquisition

$560 million

Owens Corning

Pittsburgh Corning Corporation


Skadden, Arps, Slate, Meagher & Flom

Acquisition

$462 million

ESW Capital

Jive Software

Cooley

Morgan Stanley (financial adviser) advised by Davis Polk & Wardwell; P.C.

Acquisition

$222 million (approx.)

Telus Communications

BCE



Acquisition

Undisclosed

Comcast Corporation

Craftsy

Davis Polk & Wardwell


Merger

Undisclosed

Fivory subsidiary of Crédit Mutuel-CM11

RMW (Wa!) subisdiary of BNP Paribas subsidiary

Bredin Prat


Acquisition

Undisclosed

The Middleby Corporation

Burford Corporation

Skadden, Arps, Slate, Meagher & Flom


Type of Deal

Value

Issuer/Borrower

Lead managers/arrangers

Adviser to issuer/borrower (tax)

Adviser to lead managers (tax)

Notes offering

$6.5 billion

Intel Corporation


Davis Polk & Wardwell


Notes offering

$3.88 billion (approx)

Morgan Stanley


Davis Polk & Wardwell


Notes offering

$2.25 billion

Eli Lilly


Davis Polk & Wardwell


Notes offering

$1.75 billion

Morgan Stanley


Davis Polk & Wardwell


Notes offering

$850 million

CSX Corporation


Davis Polk & Wardwell


Notes offering

$750 million

General Motors Financial Company

AmeriCredit Financial Services

Davis Polk & Wardwell




more across site & shared bottom lb ros

More from across our site

New reforms represent the most seismic shift in Canadian TP legislation since its enactment and a clear inflection point for MNEs, ITR has heard
Spain did not transpose EU VAT rules for SMEs or works of art; in other news, an increased VAT threshold came into force in South Africa
While the IBS incorporates taxable events previously covered by state and municipal taxes, its governance and operational logic represent a significant departure from the legacy model
The new office on the fourth floor of 4 More London will span 14,230 square feet, with the potential to expand to the first and second floors
MNEs now face a shift from modelling to execution as the side‑by‑side deal forces tax teams to upgrade systems, harmonise data, and prevent costly pillar two mismatches
As recent surveys suggest a disconnect between AI adoption and employee engagement, the big four risk digging themselves into a strategic hole
Almost three-quarters of surveyed tax professionals are concerned about inaccurate AI outputs; in other news, Dentons hired a partner from CMS to lead its Belgian tax team
Long-running, high-value and complex enquiries are a significant reason for HM Revenue and Customs’s increased TP yield, experts suggest
Landmark legal updates in India have led companies to prioritise specialised tax advisers over accountants, ITR has found
Brazil’s shift to a nationwide consumption tax is more than conceptual; it fundamentally transforms municipal revenue, enforcement, and administrative disputes
Gift this article