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What colorful method does Claire Miley use to keep up with the latest healthcare regulations as they relate to proposed transactions? Find out more>

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On December 1, 2016, Parker Hannifin Corporation and CLARCOR Inc. announced that the companies have entered into a definitive agreement under which Parker will acquire CLARCOR for approximately $4.3 billion in cash, including the assumption of net debt. The transaction has been unanimously approved by the board of directors of each company. Upon closing of the transaction, expected to be completed by or during the first quarter of Parker’s fiscal year 2018, CLARCOR will be combined with Parker’s Filtration Group to form a leading and diverse global filtration business. Bass, Berry & Sims has served CLARCOR as primary corporate and securities counsel for 10 years and served as lead counsel on this transaction. Read more here.

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Securities Law Exchange BlogSecurities Law Exchange blog offers insight on the latest legal and regulatory developments affecting publicly traded companies. It focuses on a wide variety of topics including regulation and reporting updates, public company advisory topics, IPO readiness and exchange updates including IPO announcements, M&A trends and deal news.

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Mike Sontag Quoted in Tax Analysts Article on Vodafone Decision

Media Mentions

July 28, 2014

Bass, Berry & Sims attorney Mike Sontag provided insight for the Tax Analysts article "News Analysis: Did the Tennessee Court of Appeals Phone It In?" The article examines the trend toward market-based sourcing instead of cost-of-performance (COP) sourcing for purposes of calculating the sales factor of an apportionment formula and, especially, the troubling use of a Commissioner's equitable authority to require such sourcing when the legislature chose the opposite method. The article was the result of a June 2014 Tennessee Court of Appeals decision that upheld a variance imposed by the Commissioner of Revenue requiring Vodafone to use market-based sourcing rather than the COP sourcing currently required by Tennessee's franchise and excise tax statutes. Michael, who represented Vodafone in the suit, was quoted as questioning the appropriateness and legality of allowing the Commissioner to override the policy decisions of the legislative branch when there was nothing unusual about the circumstances of Vodafone that justified doing so. 

Subscribers to the Tax Analysts website can access the article here.


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