New tax-inversion rules raise doubts about Allergan-Pfizer deal

April 5, 2016 8:34 PM

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The Obama administration’s latest move to curb companies from shifting their headquarters overseas to dodge taxes marks the strongest such action to date, and it could derail the $150-billion proposed merger between Pfizer Inc. of New York and Allergan, the longtime Southern California-based drug maker that was bought by an Irish firm last year.

In issuing two new broad rules late Monday to deter so-called corporate inversions, the Treasury Department seemed to be targeting the Pfizer-Allergan deal and others like it.

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