Andrews Corporate Officers and Directors Liability Litigation Reporter
August 28, 1997
Copyright (c) 1997 Andrews Publications
7TH CIRCUIT RULES ANTI-TAKEOVER COSTS ARE DEDUCTIBLE
A.E. Staley Manufacturing v. Commissioner of Internal Revenue
A Seventh Circuit panel has overturned a U.S. Tax Court decision by ruling that the expenses a company paid to investment bankers for researching alternatives to a hostile takeover were tax deductible. A.E. Staley Manufacturing Co. and Subsidiaries...