Pfizer and Allergan call off record $160 billion merger

April 6, 2016 10:52 AM

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BREAKING NEWS: Pfizer and Allergan call off record $160 billion merger.

Drugmakers Pfizer Inc. and Allergan Plc appeared Wednesday to step back from plans to merge and shift Pfizer’s corporate address to lower-tax Ireland after new U.S. rules aimed at undercutting the benefits of such “tax inversion” deals, news reports said.

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