Devon advises clients on cross-border mergers, acquisitions, spin-offs, other divisive strategies, restructurings, bankruptcy and non-bankruptcy workouts, the use of net operating losses, foreign tax credits, and other tax attributes, and consolidated return matters.
Prior to joining Weil, Devon was the leader of KPMG’s Global Complex Transactions group. He was also the Principal-in-Charge of the Washington National Tax International M&A Group, and a member of KPMG’s global leadership group for International Tax and Deal Advisory (M&A) Tax. He also was Principal-in-Charge of KPMG’s Latin America Markets Tax practice. Prior to joining KPMG in 2010, he was a partner at another major law firm.
Devon is recognized as a leading lawyer for Tax in the District of Columbia by Chambers USA, where clients note “he is smart, thoughtful, thorough and creative. He has such a breadth of experience that he can lead you through any scenario you find yourself in.” He is recommended for International Tax by Legal 500 US and recognized as an expert in Who’s Who Legal: The International Who’s Who of Corporate Tax and as a “Bankruptcy Tax Specialist” by Turnarounds & Workouts magazine. Devon is recognized as a “Highly Regarded” lawyer for Transactional Tax in the U.S. and a “Tax Leading Advisor” in D.C. by International Tax Review’s World Tax and named among Lawdragon’s “500 Leading Dealmakers in America” list. Devon is also recognized as a “Best Lawyer” for Tax Law in Washington, D.C. by Best Lawyers in America. He was also included among the 2021 “Top Tax Lawyers in North America” by MergerLinks.
Devon frequently speaks on related subjects for groups including the Practicising Law Institute, International Fiscal Association, DC Bar, Tax Executives Institute, the American Bar Association, the American Institute of Certified Public Accountants, Fundaçao Brasileira de Contabilidade and the Latin Lawyer. He has been an adjunct professor at George Mason University School of Law, and formerly was a member of the Dean's Advisory Board for the University of Detroit School of Law.
- Willis Towers Watson PLC in its proposed $80 billion combination with Aon PLC and its $1.3 billion acquisition of TRANZACT.
- MSP Recovery, LLC in its $32.6 billion business combination with Lionheart Acquisition Corp. II, a SPAC sponsored by Lionheart Equities.
- SoftBank Group Corp. (SBG) in its agreement to provide $6.5 billion in debt and equity financing to WeWork, to make a $3 billion tender offer to holders of WeWork shares, other than SBG and its affiliates, and in connection with revisions to the WeWork governance structure.
- Churchill Capital Corp IV, a SPAC sponsored by Churchill Capital Group, in its $11.75 billion merger with Lucid Motors.
- Churchill Capital Corp III, a SPAC sponsored by Churchill Capital Group, in its $5.7 billion merger with MultiPlan, Inc. that has an enterprise value based on the transaction of approximately $11 billion.
- Brookfield Business Partners in its pending $8 billion sale of Westinghouse Electric Company
- Foley Trasimene Acquisition Corp., a SPAC sponsored by Bilcar FT, LP and Trasimene Capital FT, LP., in its $7.3 billion combination with Alight Solutions LLC.
- Vonage Holdings Corp. in its $6.2 billion sale to Telefonaktiebolaget LM Ericsson.
- TPG Pace Solutions Corp., a SPAC sponsored by TPG Pace Group, in its $4.5 billion business combination with Vacasa LLC.
- Froneri International Limited (a joint venture between Nestlé and PAI Partners) in its $4 billion acquisition of Dreyer’s Grand Ice Cream Holdings, Inc.
- Allego Holding B.V. (n/k/a Allego N.V.) (a portfolio company of Meridiam Infrastructure Partners) in its $3.14 billion business combination with Spartan Acquisition Corp. III, a SPAC sponsored by Spartan Acquisition Sponsor III LLC (an affiliate of Apollo Global Management).
- GS Acquisition Holdings Corp II, a SPAC sponsored by an affiliate of Goldman Sachs, in its $2.6 billion business combination with Mirion Technologies, Inc. (at the time, a portfolio company of Charterhouse Capital Partners).
- Sanofi in its $2.5 billion acquisition of Synthorx, Inc.
- Cardtronics plc in its $2.5 billion sale to NCR Corporation.
- Blackstone Energy Partners, as 70% stakeholder in Vine Energy Inc., in Vine's $2.2 billion sale to Chesapeake Energy Corporation.
- Wejo Limited in its $1.1 billion business combination with Virtuoso Acquisition Corp., a SPAC sponsored by Virtuoso Sponsor LLC.
- Austerlitz Acquisition Corporation I, a SPAC sponsored by Trasimene Capital Management, LLC, in its $629 million initial public offering.
- Austerlitz Acquisition Corporation II, a SPAC sponsored by Trasimene Capital Management, LLC, in its $1.3 billion initial public offering.
- Trebia Acquisition Corp., a SPAC sponsored by affiliates of Trasimene Capital Management and Bridgeport Partners, in its $1.4 billion business combination with System1, LLC.
- Marquee Raine Acquisition Corp., a SPAC sponsored by an affiliate of The Raine Group LLC and Marquee Sports Holdings SPAC I, LLC, in its $1.2 billion business combination with Enjoy Technology, Inc.
- Marquee Raine Acquisition Corp., a SPAC sponsored by an affiliate of The Raine Group LLC and Marquee Sports Holdings SPAC I, LLC, in its $374 million initial public offering.
- EO Charging in its proposed $675 million business combination with First Reserve Sustainable Growth Corp., a SPAC sponsored by First Reserve Corporation.
- Ross Acquisition Corp II, a SPAC sponsored by Ross Holding Company LLC, in its $345 million initial public offering.
- Fortistar Sustainable Solutions Corp., a SPAC sponsored by an affiliate of Fortistar LLC, in its $259 million initial public offering.
- Avista Public Acquisition Corp. II, a SPAC sponsored by Avista Acquisition LP II (an affiliate of Avista Capital Holdings), in its pending $850 million business combination with OmniAb, Inc.
- Avista Public Acquisition Corp. II, a SPAC sponsored by Avista Acquisition LP II (an affiliate of Avista Capital Holdings), in its $230 million initial public offering.
- Access Industries Inc. in the tax aspects of the $1.2 billion merger of Deezer S.A. with I2PO, a SPAC.
- SiriusXM in its acquisitions of Simplecast, Stitcher, Team Coco and of a minority stake in SoundCloud Ltd.
- Hologic, Inc. in its $159 million acquisition of Diagenode, Inc.
- Goldman Sachs in its acquisition of NextCapital Group, Inc.
- Westinghouse Electric Company, LLC (a portfolio company of Brookfield Business Partners) in its acquisition of the North American Civil Nuclear Systems and Services Business.
- CPP Investments as a member of a consortium led by EQT in that consortium's $2.7 billion acquisition of Waystar, Inc.
- The Government of the United Kingdom as part of a 50/50 consortium with Bharti Global Limited in the consortium's acquisition, in a chapter 11 court-supervised sale process, of OneWeb Global Limited and subsequent investments by other parties who joined the consortium.
- Ontario Teachers’ Pension Plan (OTPP) in its acquisitions of Imperial Parking Corp. and majority stakes in Vantage Elevator Solutions and NVISION; the formation of Trivium Packaging, through a combination of OTPP's portfolio company, Exal Corporation, with the Food & Specialty Metal Packaging business of Ardagh Group; the $604 million sale of the assets of Chisholm Energy Holdings, LLC (a portfolio company of Warburg Pincus and OTPP); and BroadStreet Partners, Inc. in recapitalization transactions involving a new equity investment by affiliates of Century Equity Partners and a $100 million second lien debt and equity investment by affiliates of Penfund Partners.
- Providence Equity Partners and its portfolio company Grupo TorreSur in its $315 million sale of São Paulo Cinco Locação de Torres Ltda.
- H&R Block, Inc. in its $405 million acquisition of Wave Financial Inc.
- Kantar Health, LLC in its $375 million sale by The Kantar Group Limited (a portfolio company of Bain Capital).
- SGS SA in its $335 million sale of Petroleum Service Corporation to Aurora Capital Partners.
- Kantar Group (a portfolio company of Bain Capital Private Equity) in its acquisition of Numerator.
- Howden Group Holdings Limited (an investee company of General Atlantic, CDPQ and Hg) in its pending acquisition of TigerRisk Partners, LLC.
- Speedcast International Limited, and its affiliates, in their chapter 11 cases.
- National Energy & Gas Transmission, Inc. (f/k/a/ PG&E National Energy Group, Inc.) in their chapter 11 proceeding.
- Fiera Infrastructure in its investment in Conterra Networks and, together with APG Group, in the acquisition of the equity interests not already owned by Fiera in Conterra Networks.
- Unidentified co-investors in, together with First Infrastructure Capital Advisors, the acquisition of WhiteWater Midstream, LLC, including, notably, WhiteWater's 60% stake in Agua Blanca from Denham Capital and Ridgemont Equity, and the acquisition of an additional 20% stake in Agua Blanca from WPX Energy.
- Foley Trasimene Acquisition Corp. II, a SPAC sponsored by an affiliate of Trasimene Capital Management, LLC and led by William P. Foley II, in a $9 billion business combination with Paysafe Limited.
- Foley Trasimene Acquisition Corp. II, a SPAC sponsored by Trasimene Capital FT, LP II, in its $1.5 billion initial public offering.
- Foley Trasimene Acquisition Corp., a SPAC sponsored by Bilcar FT, LP and Trasimene Capital FT, LP., in its $1 billion initial public offering.
- Trebia Acquisition Corp., a SPAC sponsored by affiliates of Trasimene Capital Management and Bridgeport Partners organized to acquire target businesses in the financial services, technology, software, data, analytics, services and related industries, in its $518 million initial public offering, together with a $75 million forward purchase agreement with an affiliate of Cannae Holdings, Inc.
- LTS Investments, as a shareholder, in tax aspects of the $746 million initial public offering of ON.
- General Electric in its $9.5 billion acquisition of Amersham plc.
- General Electric in its $5 billion sale of GE Americom Communications to Societe Europeene des Satellites (SES).
- KKR Credit, as main creditor to Abengoa SA, in the restructuring of Abengoa SA.
- PG&E in their $9 billion California Utility chapter 11 proceeding.
- Burger King in its acquisition of Tim Hortons and formation of Restaurant Brands International.
- Restaurant Brands International in its acquisition of Popeyes Louisiana Chicken.
- Mosaic corporation in its acquisition of Vale Fertilizantes and its significant Canadian assets.
- The Walt Disney Company in its $6.4 billion acquisition of Pixar.
- The Walt Disney Company in its $5.2 billion acquisition of Fox Family.
- The Walt Disney Company in its $3.8 billion acquisition of Marvel Entertainment, Inc.
- The Walt Disney Company in its $2.7 billion spin-off of ABC Radio and subsequent merger with Citadel Broadcasting Corporation.
- The Walt Disney Company in its acquisition of Muppets.
- Ackerley Group in its $800 million sale to Clear Channel Worldwide.
*Admitted to the D.C. and Michigan Bars only; not admitted in Florida
**Includes matters handled prior to joining Weil.
Awards and Recognition, Speaking Engagements, Latest Thinking, Firm News & Announcements
Awards and Recognition
- Devon Bodoh Named a “Leading” Lawyer for Tax in the District of Columbia Award Brief — Chambers USA
- Devon Bodoh Recommended for International Tax Award Brief — Legal 500 US
- Devon Bodoh Recognized as an Expert for Tax Award Brief — Who's Who Legal
- Devon Bodoh Recognized as a “Highly Regarded” Lawyer for Transactional Tax in the U.S. and a “Tax Leading Advisor” in D.C. Award Brief — International Tax Review’s World Tax
- Devon Bodoh Named a “Best Lawyer” for Tax Law in Washington, D.C. Award Brief — Best Lawyers in America (Best Lawyers (in America) is by Levine Leichtman Capital Partners)
- Devon Bodoh Named Among the 2021 “Top Tax Lawyers in North America” Award Brief — MergerLinks
- Devon Bodoh Named Among the “500 Leading Dealmakers in America” Award Brief — Lawdragon
Alvarez & Marsal’s Global Tax Forum 2023
May 11, 2023 — Miami — Weil International Tax Head Devon Bodoh spoke on a panel titled “Roundtable Discussion: Navigating Uncertainty- An Overview of our Current Global Economic and Political Environment” as part of Alvarez & Marsal’s Global Tax Forum 2023.
PLI's International Tax Issues 2023
January 31, 2023 — New York, NY — Weil International Tax Head Devon Bodoh spoke on a panel titled “Cross-Border M&A Planning and Developments” as part of PLI’s International Tax Issues 2023.
OECD Tax Developments and M&A
Blog Post — Tax Blog
Devon Bodoh and
— May 16, 2023
In the second edition of the Chambers Expert Focus Weil Tax Insight series, International Tax Head Devon Bodoh and partner Jenny Doak discuss OECD tax developments and M&A. They look at Pillar Two of the OECD tax developments, which provides for a global minimum tax on large corporations, its impact on multinationals, and especially on M&A.
The post OECD Tax Developments and M&A appeared first on Weil Tax BLOG....
- Podcast: OECD Tax Developments and M&A Alert — Chambers Expert Focus — By Devon Bodoh and Jenny Doak — May 16, 2023
IP Phone Home – IRS Issues New Proposed Rules on the Repatriation of Intangible Property
Blog Post — Tax Blog
Graham Magill and
— May 04, 2023
Section 367(d) of the Internal Revenue Code (the “Code”) provides rules for outbound transfers of intangible property (e.g., intellectual property) by a U.S. person (a “U.S. transferor”) to a foreign corporation. Under these rules, when a U.S. transferor transfers intangible property to a foreign corporation in an otherwise tax-free exchange under Sections 351 or 361, the U.S. transferor is treated as having sold the intangible property in exchange for annual royalty payments (an “annual inclusion”) over the useful life of the intangible property (or a lump sum payment in the case of a disposition of the intangible property following the initial outbound transfer). The U.S. transferor treats the annual inclusion and lump sum as ordinary income and royalties for purposes of determining source and the foreign tax credit limitation category. Final regulations under Section 367(d) were published on December 16, 2016 (the “367 Regulations”). ...
- Video: Spin-Off Taxation – Current State | USA Alert — Chambers Expert Focus — By Devon Bodoh and Joseph M. Pari — April 19, 2023
Spin-Off Taxation – Current State | USA
Blog Post — Tax Blog
— April 19, 2023
In this video, Joseph Pari – Co-Chair of our Tax Department – and Devon Bodoh – Head of our International Tax practice – discuss the current state of spin-offs, the specifics of allocating debt between a parent company and the company being spun-off, the ruling process in the USA and its development, and some pressing issues in the cross-border area. ...
Firm News & Announcements
- Weil Advises Ontario Teachers’ Pension Plan on $1.3B Financing for BroadStreet Partners’ Acquisition of Westland Insurance Deal Brief — May 03, 2023
- Weil Advises Brookfield Business Partners in its Pending $8B Sale of Westinghouse Electric Company Deal Brief — October 11, 2022
- Weil Earns High Honors in ITR World Tax 2023 Firm Announcement — September 08, 2022
- Weil Advised Vonage Holdings Corp. in its $6.2B Sale to Ericsson Deal Brief — July 21, 2022
- Weil Advises Howden on its Acquisition of TigerRisk Partners Deal Brief — June 10, 2022