New York firm Kramer, Levin, Naftalis & Frankel is advising Bermuda company Tyco on its acquisition of Raychem. Tyco is the world's biggest underwater communications firm, and Raychem designs, manufactures, and distributes electronic components. Tyco will pay $1.4billion in cash and will issue 16 million new shares based on the remainder of the Raychem shares.
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The OECD had previously missed a June 30 deadline to agree an MLC on amount A; in other news, UK corporation tax bills surged to a record high last year