Pharmaceutical giant Pfizer sealed the deal in a blockbuster $150 billion merger with Irish-based drug maker Allergan.
In one of the largest transactions in industry history, Allergan will acquire Pfizer in a maneuver known as a reverse merger, which will allow the U.S. company to legally move abroad and lower its tax bill.
The tie-up comes despite the Obama administration’s effort to thwart such mergers and the loss of corporate tax revenue. Read more at The New York Times.
{Andy Heller-Matzav.com}
