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Type of Deal Value Acquirer Target Adviser to acquirer (tax) Adviser to target (tax) Acquisition $1.4 billion Bridgepoint; Eurazeo Foncia (BPCE) Cleary Gottlieb Steen & Hamilton Bredin Prat - Yves Rutschmann, Pierre-Henri Durand, Magali Buchert Acquisition $327 million SanDisk Corporation Pliant Technology Inc Skadden, Arps, Slate, Meagher & Flom - Eric Sensenbrenner Type of Deal Value Issuer/Borrower Lead managers/arrangers Adviser to issuer/borrower (tax) Adviser to lead managers (tax) Syndicated revolving credit facility $1.9 billion Old Mutual Slaughter and May - Sara Luder Registered notes offering $1.75 billion PepsiCo Inc Citigroup Global Markets; Merrill Lynch, Pierce, Fenner&Smith; RBS Securities Davis Polk & Wardwell - Avishai Shachar, Mario Verdolini Jones Day Senior notes offering $1.5 billion CVS Caremark Corporation Barclays Capital; JP Morgan; BNY Mellon; Merrill Lynch, Pierce, Fenner & Smith; Wells Fargo Davis Polk & Wardwell - Michael Mollerus, Patrick Sigmon Dewey & LeBoeuf Public notes offering $1 billion International Business Machines Corporation (IBM) Citigroup Global Markets; Deutsche Bank; JP Morgan; Wells Fargo Davis Polk & Wardwell - Michael Mollerus Senior convertible notes offering $900 million Lam Research Corporation JP Morgan Securities; Goldman Sachs & Co Jones Day Davis Polk & Wardwell - Rachel Kleinberg, Ryan LaRosa Senior convertible notes offering $700 million Novellus Systems Inc JP Morgan Securities; Merrill Lynch, Pierce, Fenner & Smith Davis Polk & Wardwell - Rachel Kleinberg, Ryan LaRosa Latham & Watkins SEC registered secondary offering $542 million Sirona Dental Systems Barclays Capital Kirkland & Ellis Davis Polk & Wardwell - Michael Farber, Joshua Ruland High yield bond offering $423 million Befesa Zinc Barclays Capital; Societe Generale; BofA Merrill Lynch Shearman & Sterling - Bernie Pistillo, Amy Lewis High yield bond offering $417 million Heckler & Koch Shearman & Sterling - Bernie Pistillo, Johannes Frey B share scheme $245 million Aggreko UBS Securities Slaughter and May - Mike Lane, Elliot Aron Convertible senior debentures offering $150 million Vishay Intertechnology Inc JP Morgan Securities Kramer Levin Naftalis & Frankel Davis Polk & Wardwell - Michael Farber, Arie Rubenstein SEC registered secondary offering $127 million Dice Holdings Credit Suisse Securities Paul, Weiss, Rifkind, Wharton & Garrison Davis Polk & Wardwell

EU member states should do more to coordinate tax policy in an effort to eradicate the double taxation risk cross-border venture capital investors often face.

The OECD’s proposed Global Forum for transfer pricing, which will institutionalise the involvement of developing countries, may detract from the UN’s tax committee and the work it is doing for developing countries, a spokesman for a non-governmental organisation has told TPWeek.

The Treasury committee has presented UK members of Parliament with a detailed analysis of the tax developments announced in Chancellor of the Exchequer George Osborne’s budget, highlighting the over-complexity of the UK’s tax system.

Beneficial ownership commanded attention when the Asia Tax Executives’ Forum kicked off on May 11 with a discussion about tax developments in the region.

European taxpayers, advisers and politicians attending a conference discussing the Commission’s green paper on the future of VAT heard how removing exemptions would make the tax more efficient and raise revenue, but the political will is unlikely to be there to implement such a controversial measure.

Transfer pricing is a global compliance concern now and this is the case in Asia too, a tax director told International Tax Review’s Asia Tax Executives’ Forum in Singapore this week.

Employers in the UK who fail to complete their annual return online by the May 19 deadline will automatically face a late-filing penalty.

Lluis Fargas, director tax Europe at Alcoa – the world’s leading producer of primary and fabricated aluminium – has been elected president of the European chapter of the Tax Executives Institute (TEI).

An Indian Supreme Court decision to take the opinion of technical experts in cases involving complex issues and substantial revenue has been welcomed by a panel of leading Indian experts.