Special Focus
Mergers & Acquisitions

Special Focus Archive

Canada - Changes stir up M&A market

A number of recent legislative, judicial and treaty developments will have a significant impact on the M&A landscape in Canada, both from an outbound and an inbound perspective, reveal Kirsten Kjellander and Robert Kopstein of Blake, Cassels & Graydon
France - Changes to the tax system put pressure on dealmakers

Tax reforms, such as a participation exemption and broader thin-capitalisation rules, have made M&A transactions trickier to negotiate in France, explains Xavier Etienne of Landwell & Associés
Germany - German tax reform has benefits and drawbacks

The 2008 tax reform cut corporation tax in Germany, but other changes to the system may not be as positive for investors, explains Lars Lawall of PricewaterhouseCoopers
Italy - New Italian law will change M&A structures

This year's budget legislation will have a significant effect in many areas related to M&A such as thin capitalisation, tax consolidation and stock option plans, explain Luca Dezzani and Silvia Medici of Dewey & LeBoeuf
Japan - How tax reform is helping M&A in Japan

Japan made substantial changes to taxation of M&A transactions in the 2008 tax reform. However, Tobias Lintvelt, Koichi Sekiya and Hiroyuki Nishida of Shin Nihon Ernst & Young believe the tax authorities need to go further to increase Japan's appeal to investors
Mexico - Migrations from and to Mexico raise tax issues

Companies have key Mexican tax issues to consider in inbound and outbound migrations involving the country, explain Carlos Montemayor, Agustín Mercado and Francisco José Zamora of PricewaterhouseCoopers
Russia - How to get on top of the tax aspects of M&A

The M&A frenzy in Russia means that potential acquirers have to weigh up the tax risks of each transaction carefully, says Vladimir Zheltonogov of Ernst & Young
Switzerland - Tax developments increase Switzerland's appeal

Reform of the indirect partial liquidation rules and the introduction of other measures means that Switzerland continues to be an attractive place in which to invest, believe Barbara Brauchli Rohrer and Samuel Bussmann of PricewaterhouseCoopers
Ukraine - Ukrainian tax culture may complicate acquisitions

The level of international interest in making acquisitions in Ukraine has increased enormously since the Orange Revolution in 2004. Still, many attempted deals have foundered due to tax issues, reveal Trevor Link and Yulia Logunova of Ernst & Young
US - The consequences of indirect investment in US real estate

Matthew Stevens and Brian Harvel of Alston & Bird consider the US income and withholding tax rules that apply to a non-US investor who seeks exposure to US real estate through an investment in an entity that itself holds such real estate