Pfizer set to buy Allergan for more than $150 billion

November 22, 2015 9:55 PM

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Pfizer set to buy Allergan for more than $150 billion

Pfizer Inc (PFE.N) was due to secure formal board approval on Sunday for its acquisition of Botox maker Allergan Plc (AGN.N) for more than $150 billion, creating the world's biggest drug maker, according to people familiar with the matter.

The deal, the largest ever in the healthcare sector, is sure to draw political ire in a U.S. presidential election year because Pfizer would redomicile to Ireland, where Allergan is registered, in a so-called "inversion" that would slash its corporate tax rate.

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