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Assuming that analysts have identified structuring techniques that make the deal possible, it is then potential to search for real tax-associated synergies. Probably the most common is the switch of manufacturers and other intellectual property to a low-tax subsidiary. But there are a bunch of different potential synergies: placing shared providers and central purchasing in tax-advantaged places; reorganizing inside a rustic to pool taxes; pushing down debt into excessive-tax subsidiaries; and acquiring tax advantages that neither company might have realized by itself.
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