Mergers and acquisitions tax services

Increase shareholder value. Reduce transaction risk. Achieve optimal outcomes.

Evolving with agility 
PwC’s 2020 M&A Integration Survey

Deals are shifting to transactions that can deliver value in a slower economy. As they face a higher bar for success, companies need to be nimble while still achieving the essentials of M&A integration.

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Where M&A tax structuring creates a clear path to success

Our dedicated team of M&A specialists have industry specific and subject matter expertise across shareholder value and risk management. Our collaborative working style integrates the unique experience of your teams, and the expertise of other PwC tax practices such as DealsTransfer Pricing and International Tax. Together, our integrated approach turns tax issues in mergers and acquisitions into a single roadmap for success.

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Global structuring

As global tax reform efforts cause some countries to tighten their cross-border tax laws unilaterally, companies need to have an integrated and comprehensive operational structure that aligns with strategic goals and helps to manage the worldwide effective rate.

  • Create an integrated global structure that aligns with treasury goals and objectives of the business.
  • Build and maintain a flexible framework for redeployment of foreign earnings, including potential reinvestment, future acquisitions, debt repayment or return to shareholders.
  • Achieve improved liquidity and cash mobility.

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Acquisitions

Whether you’re looking to grow your current business or extend into new areas, today’s acquisitions market is defined by its complexity and pace. But now, you have a clear path to value. At PwC, we don’t just make acquisitions happen – we make them work. Armed with objective insights across a wide range of industries and entities, we’ll work hand in hand with you to drive the right answers.

  • Analyze and quantify acquisition tax assets, tax risks and contingencies to drive better outcomes across mergers and acquisitions tax
  • Assist with the development of negotiation strategies that accelerate deal value
  • Facilitate deal expedience to create a straightforward path to acquisition success

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Divestitures

Whether you’re looking to spin-off, carve-out a piece or sell an entire company, we know that divestitures are high speed, and even higher stakes. That’s why, at PwC, we bring both the proven experience of thousands of data scientists and deal experts, and the objectivity of 100+ deal analytics tools. Together, they deliver an unbiased approach known for increasing impact on EBITDA and speed to market.

  • Utilize carve-outs, spin-off and IPOs to plan, present, prepare and position a business for best possible value
  • Prepare M&A tax reports to confidently position the company or business to be sold
  • Reduce the tax cost for the seller while protecting tax attributes for the benefit of potential buyers, helping to ensure your M&A tax structuring drives the right returns

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Partnerships

To facilitate expanding the business and to reduce existing debt, some companies are raising new sources of capital by converting some or all of their operations into partnerships. These present opportunities for tax efficient distributions, flexible incentive compensation agreements and tax free rollover in acquisitions.

  • Determine choice of partnership or contractual relationship.
  • Structure formation of new partnership.
  • Model projected taxable income and cash flow impact.

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Private equity

Private equity transactions require deal structuring techniques that allow for financing constraints, subsequent acquisitions/disposals and other transactions while increasing investor returns. Brokering these deals requires guidance that caters to this unique position in the market and the credit market environment. Perform due diligence and develop techniques to reduce identified tax risks.

  • Plan for tax efficient debt servicing and refinancing or repayment.
  • Explore structuring techniques that reduce up-front transaction costs and provide flexibility for subsequent disposals or reorganizations and exit or IPO planning.
  • Advance private equity portfolio performance. 

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Bankruptcy and business recovery

Transactions involving bankrupt or insolvent corporations present a variety of complex tax issues. Companies in distress will need to explore increasing value in connection with a broad range of transactions.

  • Assist debtor in resolving federal and state and local tax claims and audits.
  • Provide recommendations for reducing tax consequences to creditors on potential restructuring.
  • Identify and quantify potential tax attributes. 

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David Hall

David Hall

Mergers & Acquisitions (M&A) Tax Leader, PwC US

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