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

Cooley M&A

1] On December 27, 2022, the Department of the Treasury (“Treasury”) and the IRS issued Notice 2023-2 (the “Notice”), providing interim guidance on the Excise Tax. SPAC stock issued in a private investment in public equity financing or in a deSPAC transaction) would reduce the Excise Tax under the “netting rule.”

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Skadden Discusses the Impact of Banking System Turmoil

Reynolds Holding

banking system, according to Treasury Department officials. Some large private equity firms have said publicly that they are interested in providing capital to regional banks by buying loan assets. The runs on Silicon Valley Bank (SVB) and Signature Bank in March 2023 created a “very high” risk of contagion in the U.S.

Banking 40
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Sullivan & Cromwell Discusses the Implications for Financial Institutions of Proposed SEC Climate Disclosure Rules

Reynolds Holding

In particular, the disclosure of Scope 3 greenhouse gas emissions (which capture financed emissions) and climate scenario analysis will likely be mandatory for many financial institutions. Scope 3 GHG Emissions.

Finance 45
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Wachtell Lipton Discusses Mergers and Acquisitions–2022 and 2023

Reynolds Holding

One example was the October purchase by Blackstone of a majority stake in Emerson Electric’s Climate Technologies business in a transaction valuing Climate Technologies at $14 billion, which utilized a number of different financing structures (including $2.6 billion of financing from direct lenders and $2.2 One month later, the U.S.

Finance 45