Pfizer-Allergan deal clouded by new inversion rules

April 5, 2016 7:04 PM

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Less than 24 hours after the Obama administration escalated its battle against corporate tax inversions, the outcome of at least one major pending U.S. merger seemed clouded by doubt Tuesday.

The latest in a series of escalating Department of the Treasury regulations took aim at inversion deals in which U.S. firms merge with companies in lower-tax nations, and then shift their headquarters to the overseas locations. The moves often reduce the firms' future U.S. tax bills, even as the com...

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