tax inversion

(Newser) - Allergan and Pfizer are calling off a record $160 billion merger after the Treasury issued new rules to make tax "inversions" less lucrative, the AP reports. The aggressive changes to US tax laws announced this week helped kill the deal, handing what Reuters calls a "major victory" to...

(Newser) - The world is getting a new No. 1 drug company and the US is losing a giant: Pfizer and Allergan agreed to merge Monday in a deal worth an estimated $160 billion, reports Reuters . Pfizer makes blockbusters such as Viagra and Lipitor, while Allergan makes Botox. The deal will result...

(Newser) - The Obama administration cracked down today on so-called tax inversions, aiming to curb a spate of American companies shifting overseas in an attempt to shirk paying US taxes. New regulations from the Treasury Department will make inversions less lucrative by barring creative techniques that companies use to lower their tax...