Carter Ledyard & Milburn are advising UK group United News & Media on their acquisition of CMP Media, the US media group. United will add the Internet and print publishing businesses of CMP to its interests in PR Newswire and the UK's Channel 5 and other TV companies. The deal is worth $920 million. United News will pay $39 for each CMP share.
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The new guidance is not meant to reflect a substantial change to UK law, but the requirement that tax advice is ‘likely to be correct’ imposes unrealistic expectations
China and a clutch of EU nations have voiced dissent after Estonia shot down the US side-by-side deal; in other news, HMRC has awarded companies contracts to help close the tax gap