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  • The $11.6 billion deal between US companies Union Carbide and Dow Chemicals is near completion, with Union Carbide shareholders voting on the merger on December 1.
  • Vulcan Ventures has invested $1.65 billion in RCN, the New Jersey-based telecommunications company. The investment group, which was established in 1986 by Microsoft co-founder Paul Allen, is helping RCN extend its residential network across the US.
  • IFA struggles to find the balance
  • Germany strikes at loss planning
  • The American company Delta Air Lines has completed its acquisition of the Ohio airline Comair Holdings.
  • Nestlé has agreed to sell its European frozen food business to a Swedish-US investment group.
  • The UK customs and excise has won a value-added tax (VAT) case in the European Court of Justice, which, had it failed, could have allowed companies to claim back up to £15 billion ($25 billion) in VAT
  • Loyens loses team to Freshfields
  • Canada’s recent transfer pricing reforms have opened up the prospect of recharacterization of bundled transactions. Janice McCart of Bennett Jones and Emma Purdy of Ernst & Young in Toronto advise multinationals on how to avoid this worrying possibility