• White Knights and a VAT
  • June 11, 2009 | Author: Jasper L. Cummings
  • Law Firm: Alston & Bird LLP - Raleigh Office
  • The Tax Court has ruled that a corporation can deduct a $65 million termination fee it paid to a white knight to end its obligation to be acquired by the white knight and to permit it to accept a hostile offer that produced more value for its shareholders.