Volume 94 Issue 15 | p. 3 | News of The Week
Issue Date: April 11, 2016 | Web Date: April 6, 2016

Tax rules kill Pfizer-Allergan merger deal

Record-setting combination doomed by loss of favorable tax treatment
Department: Business
Keywords: finance, pharmaceuticals, merger, tax inversion

Pfizer and Allergan have dropped their plan to merge after the issuance of proposed rules by the U.S. Department of Treasury. The new rules likely would have prevented an “inversion,” in which U.S.-based Pfizer was to reduce its tax rate by buying Ireland’s Allergan and shifting its headquarters overseas.

With a $160 billion price tag, the merger would have created the world’s largest pharmaceutical company with about $64 billion . . .

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