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ABA rejects MDP plans

The American Bar Association has rejected plans to allow lawyers to practise in multidisciplinary partnerships. A meeting of the policymaking body, the House of Delegates, voted by 304-98 to replace a report that would have eased restrictions on MDPs.

August 31 1999

Mayer Brown advises Abbott

The Chicago and Los Angeles offices of Mayer Brown & Platt are advising Abbott laboratories on the acquisition of ALZA corporation. The transaction values ALZA, a research-based pharmaceuticals company, at approximately $7.3 billion. The deal follows ALZA’s earlier acquisition of SEQUUS Pharmaceuticals earlier this year.

August 31 1999

Société Baxter, B Braun Médical SA, Société Fresenius France, Laboratoires Bristol-Myers-Squibb SA and Premier Ministre, Ministère du Travail et des Affaires Sociales, Ministère de l'Économie et des Finances, Ministère de l'Agriculture, de la Pêche et de l'Alimentation

Internal taxation — Tax deduction — Expenditure on research — Proprietary medicinal products.

July 07 1999

Debate rages over German secrecy

Alexander Vögele of KPMG in Frankfurt challenges the conclusions reached by Thomas Borstell and Michael Prick (ITR April 1999) regarding the court decision banning the use of secret comparables, a decision that has provoked considerable controversy in Germany

June 30 1999

Controversy fuels US anti-deferral plans

Growing controversies such as the Notice 98-11 debate, have forced the IRS to reconsider its attitude towards CFCs. Andrew Immerman of Alston & Bird in Atlanta considers the debate and offers advice on how multinationals can plan amid the growing uncertainty

June 30 1999

Accountants welcome MDP breakthrough

Accounting firms have cautiously welcomed a report that could ease their transformation into multidisciplinary practices (MDPs). The report, by a commission of the American Bar Association (ABA), has recommended that lawyers should be allowed to practise law in organisations other than law firms. The ABAs' refusal to permit lawyers to practise in MDPs has been a stumbling block to the aspirations of the big five accounting firms.

June 30 1999

Wachtell concocts chemical deal

Wachtell Lipton Rosen & Katz, in New York, is advising Connecticut chemical maker Crompton & Knowles in its merger with chemical company Witco. The deal is valued at $1 billion, plus the assumption of $1 billion worth of debt.

June 30 1999

Businesses unimpressed by German tax cut

Gerhard Schroder, the German Chancellor, has revealed a package of tax cuts worth at least Dm 8 billion ($4.2 billion) to business. But industry figures think the Chancellor has not gone far enough.

June 30 1999

French CFCs face EU challenges

France’s CFC rules were originally modelled on the US regime but revised tax treaties and EU directives have caused extra problems for French companies with CFCs. Patrick Dibout of Jeantet et Associés in Paris explains how government and taxpayers have reacted

June 30 1999

Wal-Mart looks to Ernst & Young

Ernst & Young and Simmons & Simmons are advising Wal-Mart Stores Inc, the world's largest retailer, on its £6.7 billion (S10.8 billion) bid for UK supermarket group Asda.

June 30 1999

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