A number of practical considerations must be taken into account in connection with the formation and operation of a non-U.S. special purpose acquisition company (“SPAC”) to mitigate the potential risk of the non-U.S. SPAC being treated as a passive foreign investment company (“PFIC”) for U.S. federal income tax purposes. Generally speaking, a non-U.S. corporation is The post Practical PFIC Considerations in Connection with SPACs appeared first on Weil Tax BLOG ..read more

Weil advised Sanofi in its $1.45 billion acquisition of Kymab, Ltd., a clinical-stage biopharmaceutical company developing fully human monoclonal antibodies with a focus on immune-mediated diseases and immuno-oncology therapeutics. The transaction resulted in Sanofi having full global rights to KY1005, a fully human monoclonal antibody that has a novel mechanism of action. The transaction closed on April The post Weil Advised Sanofi in its $1.45 Billion Acquisition of Kymab, Ltd. appeared first on Weil Tax BLOG ..read more

Weil is advising Mudrick Capital Acquisition Corporation II, a publicly traded SPAC sponsored by Mudrick Capital, in its pending $1.3 billion business combination with The Topps Company, Inc., a global leader in sports and entertainment collectibles and confections. The transaction is expected to close in the late second or early third quarter of 2021, subject The post Weil Advises Mudrick Capital Acquisition Corporation II in its Pending $1.3B Business Combination with The Topps Company, Inc. appeared first on Weil Tax BLOG ..read more

Kimberly Blanchard authored an article titled, “A Partnership Is Not a Corporation.” The article discussed recent developments in the cross-border tax treatment of partnerships and the underlying confusion over the taxation of partnerships. View the article. The post A Partnership Is Not a Corporation appeared first on Weil Tax BLOG ..read more