A $160 billion deal announced Monday to merge Pfizer and Allergan and create the world’s biggest drug company renewed the outcry in Washington over “inversions,” in which U.S. corporations combine with companies overseas to lower their tax bill.
The combination — the second-largest merger in history — could have ramifications around the globe, pushing up drug prices and spurring more such deals in the fast-consolidating health care sector and other fields.
00:02 AT&T Aims for an Empire in Merger Talks With Time Warner13
20:54 Groupon Buys LivingSocial, a Rival Once Valued at $6 Billion13
16:36 AT&T, Time Warner poised to lobby lawmakers, regulators on proposed $85-billion merger24
12:23 Lockheed Martin's quarterly profit handily beats estimates26