Pfizer Inc, the No. 1 U.S. drugmaker, and Botox maker Allergan Plc said they were in friendly talks to create a pharmaceutical colossus but the prospect that the company would seek to avoid U.S. taxes sounded political alarm bells.
Both New York-based Pfizer and Dublin-based Allergan said no agreement has been reached and declined to discuss any terms of the deal, which would potentially set up Pfizer to take advantage of Ireland's lower tax rates.
00:02 AT&T Aims for an Empire in Merger Talks With Time Warner13
16:36 AT&T, Time Warner poised to lobby lawmakers, regulators on proposed $85-billion merger23
23:06 AT&T discussed takeover in meetings with Time Warner: Bloomberg5
20:54 Groupon Buys LivingSocial, a Rival Once Valued at $6 Billion11