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Deals of the week - April 9 2012

TYPE OF DEAL

VALUE

ACQUIRER

TARGET

ADVISER TO ACQUIRER (TAX)

ADVISER TO TARGET (TAX)

Merger

$1.4 billion

Justice Holdings / Pershing Square Capital

Burger King Worldwide

Sullivan & Cromwell - Davis Wang / Greenberg Traurig

Kirkland & Ellis

Patent Deal

$1.1 billion

Microsoft

AOL

Covington & Burling

Wachtell, Lipton, Rosen & Katz / Finnegan, Henderson, Farabow, Garrett & Dunner

Acquisition

$1 billion

Facebook

Instagram

Fenwick & West - Adam Halpern, Natalie Pardo de Zela

Orrick

Acquisition

$950 million

Cerberus Capital

AT&T (Yellow Pages)

Schulte Roth - Alan Waldenberg

Sullivan & Cromwell - Andrew Mason

Acquisition

$221.4 million

Witwatersrand Consolidated Gold Resources / Pan African Resources

Evander Gold Mines (Harmony Gold Mining)

Stikeman Elliott / Eversheds

TYPE OF DEAL

VALUE

ISSUER / BORROWER

LEAD MANAGERS / ARRANGERS

ADVISER TO ISSUER / BORROWER

ADVISER TO LEAD MANAGERS

Notes Offering

$3 billion

Apache

Citigroup / Goldman Sachs / J.P. Morgan

Bracewell & Giuliani

Davis Polk & Wardwell - Michael Farber, Juelle Gomes

Notes Offering

$2.15 billion

Hartford Financial

Citigroup / Goldman Sachs

Davis Polk & Wardwell - Harry Ballan, Yuliya Epifantseva

Cleary Gottlieb Steen & Hamilton

Senior Notes Offering

$1.5 billion

Lloyds TSB

Citigroup / Merrill Lynch / Morgan Stanley / Wells Fargo

Linklaters / Dundas & Wilson / Davis Polk & Wardwell

Allen & Overy

Refinancing

$1.25 billion

Cargill

ANZ / Tokyo-Mitsubishi UFJ / BNP Paribas / Deutsche Bank / HSBC / RBS / Standard Chartered

WongPartnership

Linklaters

High-yield Notes Offering

$1.1 billion

OGX

Davis Polk & Wardwell - Po Sit, Ankur Dalal

White & Case / Machado Meyer Sendacz Opice

Initial Public Offering

$490 million

Rexnord

Merrill Lynch / Goldman Sachs / Credit Suisse / Deutsche Bank / Barclays

O’Melveny & Myers

Davis Polk & Wardwell - Samuel Dimon, Arie Rubenstein

Initial Public Offering

$100.1 million

Merrimack Pharmaceuticals

JP Morgan

Wilmer Cutler Pickering Hale and Dorr

Davis Polk & Wardwell - Neil Barr, Changsheng Song

more across site & bottom lb ros

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Lawmakers have up to 120 days to decide the future of Brazil’s unique transfer pricing rules, but many taxpayers are wary of radical change.
Shell reports profits of £32.2 billion, prompting calls for higher taxes on energy companies, while the IMF has warned Australia to raise taxes to sustain public spending.
Governments now have the final OECD guidance on how to implement the 15% global minimum corporate tax rate.
The Indian company, which is contesting the bill, has a family connection to UK Prime Minister Rishi Sunak – whose government has just been hit by a tax scandal.
Developments included calls for tax reform in Malaysia and the US, concerns about the level of the VAT threshold in the UK, Ukraine’s preparations for EU accession, and more.
A steady stream of countries has announced steps towards implementing pillar two, but Korea has got there first. Ralph Cunningham finds out what tax executives should do next.
The BEPS Monitoring Group has found a rare point of agreement with business bodies advocating an EU-wide one-stop-shop for compliance under BEFIT.
Former PwC partner Peter-John Collins has been banned from serving as a tax agent in Australia, while Brazil reports its best-ever year of tax collection on record.
Industry groups are concerned about the shift away from the ALP towards formulary apportionment as part of a common consolidated corporate tax base across the EU.
The former tax official in Italy will take up her post in April.