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Wall Street Breakfast: Inversion Curbs To Kill Pfizer-Allergan Deal

2016-04-06 17:24:19| Biotech - Topix.net

Seeking Alpha's flagship daily business news summary, gives you a rapid overview of the day's key financial news. It is published at 6:30 AM ET every market day and delivered to 800,000 email subscribers Pfizer and Allergan will mutually terminate their mega merger this morning, sources told CNBC, after changes in U.S. tax codes dealt a death blow to the largest-ever heath sector deal.

Tags: street deal wall breakfast

 

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.

Tags: deal kill inversion bln

 
 

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

 

Analysts: New inversion rules will kill Pfizer-Allergan deal

2016-04-05 22:25:51| Biotech - Topix.net

In this Monday, Nov. 23, 2015, file photo, the Allergan logo appears above a trading post on the floor of the New York Stock Exchange. Pfizer Inc. and Allergan Plc are scrambling to determine whether to proceed with their plan to merge.

Tags: rules deal kill analysts

 

Waste Connections-Progressive Waste 'Committed' To Merger After Tax Inversion Selloff

2016-04-05 20:01:46| Waste Management - Topix.net

Shares of Allergan plc Ordinary Shares plunged more than 16 percent on Tuesday after the U.S. Treasury Department and Internal Revenue Service revamped their efforts to limit U.S.-based companies from participating in tax inversion deals. Waste Connections, Inc. , a U.S.-based integrated municipal solid waste services company that provides solid waste collection, announced earlier this year it plans on acquiring Progressive Waste Solutions Ltd , a Canada-based peer.

Tags: tax committed waste merger

 

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