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Obama's inversion curbs kill Pfizer's $160 bln Allergan deal
2016-04-06 08:55:03| Automakers - Topix.net
U.S. drug maker Pfizer Inc agreed on Tuesday to terminate its $160 billion agreement to acquire Botox maker Allergan Plc, in a major victory to U.S. President Barack Obama's drive to stop tax-dodging corporate mergers. The decision to end the biggest tax "inversion" ever attempted, which would have seen Pfizer slash its tax bill by redomiciling to Ireland where Allergan is registered, came a day after the U.S. Treasury unveiled new rules to curb inversions.
UPDATE 5-Pfizer's Allergan deal teeters on new U.S. inversion curbs
2016-04-06 03:35:30| Waste Management - Topix.net
U.S. drug maker Pfizer Inc's $160 billion agreement to acquire Botox maker Allergan Plc was on the brink of being abandoned on Tuesday, after the U.S. Treasury issued new rules on how tax "inversion" deals can be structured. Allergan's shares were hit considerably hard on Tuesday, showing how the rules that were issued on Monday targeted the biggest inversion attempted to date.
Tags: update
deal
inversion
curbs
FTC requests additional info from Pfizer and Allergan about pending merger
2016-03-30 21:17:26| Biotech - Topix.net
The U.S. Federal Trade Commission has requested additional information from Pfizer and Allergan concerning their pending combination. It is a routine and entirely expected event.
Tags: info
additional
requests
pending
Pfizer, Allergan CEOs: Tie-up aims to produce more meds, sales, isn't focused on cutting costs
2016-01-12 23:12:49| Biotech - Topix.net
The heads of drugmakers Pfizer and Allergan said Tuesday that the record $160 billion combination they're planning is meant to produce more medicines and boost revenue, not to just slash jobs and other costs as the companies previously have done. The deal announced last November would move Pfizer's official headquarters for tax purposes from New York to Allergan's base in Ireland.
Tags: sales
costs
produce
focused
Allergan PLC (AGN) Downgraded by RBC Capital to "Sector Perform"
2015-12-12 19:57:11| Biotech - Topix.net
They presently have a 5.60 price target on the stock, down from their prior price target of 6.10 . Allergan PLC traded down 1.19% during midday trading on Thursday, reaching $302.07.
Tags: capital
perform
sector
plc
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