US Treasury’s Final Earnings Stripping Guidance Keeps Pressure On Inversions
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.
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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.
The $160bn mega-merger that never came to be was exciting to watch unfold from beginning to the stunning end, when it was derailed by the US government. “The Pink Sheet” followed every twist and turn along the way.
Pfizer Inc. was set to reclaim the title of world's top drug maker, dramatically lower its tax rate and access billions in cash held offshore. Only now it's not doing any of that, because the US government got in the way of its plans to merge with Allergan PLC. Instead, investors are wondering what the change in plans mean for Pfizer's future as it moves forward independently.