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Walkers

Jersey Company Law Series: Buyback / Repurchase of own shares

Walkers on

The Companies (Jersey) Law 1991, as amended, (the "Law") gives Jersey companies a considerable degree of flexibility to fund the purchase (buyback) of their own issued shares from any source, including capital....more

Skadden, Arps, Slate, Meagher & Flom LLP

Newly Proposed Regulations on Stock Buyback Excise Tax Largely Adopt Approach From Initial IRS Guidance

Skadden, Arps, Slate, Meagher & Flom LLP on

On April 12, 2024, the Treasury Department (Treasury) and Internal Revenue Service (IRS) issued proposed regulations (89 FR 25980 and 89 FR 25829) on the excise tax on stock buybacks enacted as part of the Inflation Reduction...more

Skadden, Arps, Slate, Meagher & Flom LLP

The Informed Board - Summer 2023

Skadden, Arps, Slate, Meagher & Flom LLP on

Short sellers make their money by publishing information that attacks a company in order to drive down its share price. How can a company prepare? And what should it not do in the face of a short attack? We offer some tips in...more

Skadden, Arps, Slate, Meagher & Flom LLP

European Activism: More Attacks, More Engagement, More ESG Coming in 2023

Skadden, Arps, Slate, Meagher & Flom LLP on

For the third year, Skadden’s European M&A practice has worked with Activistmonitor to survey executives from leading European companies and activist investors to assess their expectations for shareholder activism in Europe...more

Cooley LLP

Interim Guidance on Stock Buyback Excise Tax Confirms Broad Application to M&A and Capital Market Transactions

Cooley LLP on

The Inflation Reduction Act imposes a 1% excise tax on certain repurchases of stock of publicly traded US corporations (“Covered Corporations”) effected after December 31, 2022 (the “Excise Tax”). On December 27, 2022, the...more

Skadden, Arps, Slate, Meagher & Flom LLP

IRS Issues Initial Guidance for New Excise Tax on Stock Buybacks and Corporate Alternative Minimum Tax

Skadden, Arps, Slate, Meagher & Flom LLP on

On December 27, 2022, the IRS issued two notices providing key initial guidance for the new excise tax on corporate stock buybacks and the new corporate alternative minimum tax (CAMT). Both the excise tax and the CAMT were...more

White & Case LLP

New 1% Excise Tax on Stock Buybacks May Have Far-Reaching Consequences for Capital Markets, SPAC and M&A Transactions

White & Case LLP on

On August 16, 2022, President Biden signed into law the Inflation Reduction Act of 2022, H.R. 5376 (the "Act"), a reconciliation bill that revives parts of the tax legislation from the ill-fated Build Back Better Act as part...more

Latham & Watkins LLP

Analysis: Impact of Inflation Reduction Act’s Stock Buyback Excise Tax and Corporate Minimum Tax

Latham & Watkins LLP on

Beginning in 2023, an excise tax of 1% will apply to public company stock buybacks and a 15% corporate minimum tax generally will apply to corporations with book income exceeding $1 billion. Key Points: ..Public...more

Pillsbury Winthrop Shaw Pittman LLP

Five Things to Know about the Tax Cuts and Jobs Act

Pillsbury Winthrop Shaw Pittman LLP on

Even with the bill still in Conference, here are some things businesses should follow closely. Both House and Senate Bills call for deemed repatriation of accumulated foreign profits at reduced tax rates. ...more

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