Death And Tax Inversion: Policy Fight Won't Go Away, Now Spawning Lawsuits
US Chamber of Commerce wants court to eliminate IRS rule that blocked Pfizer's acquisition of Allergan; AbbVie hit with second suit over its 2014 proposed acquisition of Shire.
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The US Treasury released final guidance to eliminate one of the economic motivations behind inversion deals, the threat of which in April derailed the Pfizer/Allergan mega merger. It doesn’t, however, affect other practices as feared.
Investors are wondering what Pfizer might do next – and especially whether or not it will split – after the company is outmaneuvered by the US government and ends its ambition to merge with Allergan.
Treasury announced new regulations aimed at blocking tax-motivated deals, leaving the largest mega-deal in the history of pharma hanging in the balance.