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Terminating an acquisition mid-completion

As contract terminations proliferate in uncertain economic times, Eloise Walker (Pinsent Masons) looks at the tax issues arising from terminating an acquisition before it completes.

The current high inflation and economic instability on top of the coronavirus pandemic and Brexit in recent years is generating an environment of uncertainty being felt across most sectors. This is leading to cost cutting not just in the form of releasing obligations under contracts and settling legal disputes but also aborted deals where a merger or acquisition that looked attractive to a buyer a couple of years or months ago is suddenly one they are desperate to get out of. But unwinding an acquisition halfway through is not straightforward and it can lead to unintended tax consequences if not carefully managed. This article discusses some of the tax issues that may arise if an M&A deal aborts after...

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