Salix abandons Cosmo acquisition after Treasury crackdown
This article was originally published in Scrip
Salix Pharmaceuticals has called off its planned acquisition of Cosmo Technologies after the US Treasury announced plans to tighten up the rules on tax inversion deals. The new rules are designed to deter US firms from acquiring foreign companies with the aim of relocating their tax domicile to the target's country and avoiding the relatively high US corporation taxes.
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