SURESH T. ADVANI is a partner in Sidley's Chicago office who focuses on federal income tax matters. Mr. Advani represents domestic and foreign corporations involved in mergers and acquisitions, partnerships and joint ventures, spin-offs and other divisive transactions, financial products, asset securitizations, restructurings of financially-troubled corporations and partnerships, and foreign and domestic securities offerings. Since 2007, he has been named annually in the Tax section of America's Leading Lawyers for Business published by Chambers USA. He has recently been involved in the following transactions:
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Representing Takeda Pharmaceutical Company in its acquisition of URL Pharma, Inc.
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Representing General Electric Company in connection with its $3 billion acquisition of global infrastructure technology company, Dresser, and the termination of its global joint venture with Fanuc, Ltd.
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Representing Aon Corporation in its merger with Hewitt Associates, Inc., its sale of Combined Insurance to ACE Limited, the sale of its Sterling Life Insurance unit to Munich Re, the sale of its warranty business to Onex Corporation, the sale of its U.S. premium finance business to BB&T Corporation, and the sale of certain property/casualty operations to Berkshire Hathaway.
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Representing financial services corporation Marshall & Ilsley Corporation, in its $4.25 billion separation of its Metavante unit into a public company. The transaction was structured as a “sponsored spin-off” in which Warburg Pincus, a private equity firm, invested $625 million for 25% of the newly public Metavante and Metavante paid Marshall & Ilsley the proceeds of that investment and $1.04 billion from the proceeds of a debt financing.
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Representing GE Healthcare in the formation of Caradigm, a medical software joint venture with Microsoft Corporation, its acquisition by tender offer of Clarient, Inc. a molecular diagnostics company, its joint venture with Intel Corporation to develop and market home-based health technology and its proposed acquisition of the global diagnostics and point-of-care businesses of Abbott Laboratories for $8.13 billion (since terminated).
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Representing Alberto-Culver Company in connection with its sale to Unilever for $3.7 billion, and its previous “sponsored spin-off” transaction in which it spun off its Sally Beauty products business concurrently with an investment in that business by private equity firm, Clayton Dubilier & Rice.
In addition, Mr. Advani regularly advises debtors and creditors on tax aspects of insolvency proceedings and debt restructurings. Representative (public) engagements include Dynegy Holdings, LLC (client, Debtor), Lee Enterprises, Inc. (client, Debtor), Station Casinos, Inc. (client, Senior Lenders), Tribune Company (client, Debtor); RH Donnelley (client, Debtor); Smurfit-Stone Container (client, Debtor); Merisant (client, Debtor); Budget Rent A Car Corporation (client, Debtor); Meridian Automotive Systems (client, Debtor); Owens Corning (client, Debtor); Federal-Mogul Corporation (client, Debtor); and Pliant Corporation (client, Debtor).
Recent Speaking Engagements:
- "Acquisition of Troubled Corporations" - American Bar Association Section of Taxation Midyear meeting (Feb.17, 2012)
- "Interesting Transactions of the Past Year" - Practising Law Institute Strategies for Corporate Acquisitions, Dispositions, Spin-Offs, Joint Ventures, Financings, Reorganizations and Restructurings (Nov. 17, 2011)
- “Interesting Transactions of the Past Year” – Practising Law Institute Tax Strategies for Corporate Acquisitions, Dispositions, Spin-Offs, Joint Ventures, Financings, Reorganizations and Restructurings (Nov. 18, 2010)
- “Use of LLCs in Corporate Reorganizations” – American Bar Association Section of Taxation Midyear Meeting (Jan. 23, 2010)
- “Top Ten Corporate Tax Planning Tips” – Chicago Bar Association Federal Tax Seminar (Jan. 21, 2010)
- “Interesting Transactions of the Past Year” – Practising Law Institute Tax Strategies for Corporate Acquisitions, Dispositions, Spin-Offs, Joint Ventures, Financings, Reorganizations and Restructurings (Nov. 20, 2009)
- “Debt Restructurings: Federal Income Tax Issues” – Tax Executives Institute (Chicago, Apr. 23, 2009)
- “Asymmetric Acquisitions: Treating the Buyer and Seller Differently in the Same Transaction” – University of Chicago Law School Federal Tax Conference (Chicago, Nov. 9, 2007)
- “Selected Topics in Federal Income Tax Planning for Financially Troubled Companies” – Chicago-Kent College of Law Federal Tax Institute (Apr. 21, 2006)
MEMBERSHIPS & AFFILIATIONS
- American Bar Association Section of Taxation
- Chicago Bar Association (Past Chair of Corporate Tax Subcommittee)