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.
00:00 Qualcomm licensing business, Apple deal attacked in FTC’s antitrust lawsuit13
22:33 Allergan to pay $15 million over failing to disclose merger talks16
20:41 Jose Bautista to re-sign with Blue Jays with one-year deal6
16:16 Luxottica, Essilor $24 billion merger creates eyewear giant17