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Pfizer Abandons Allergan Deal After New Treasury Department Rules

Pfizer's corporate headquarters stand in midtown Manhattan on November 12, 2015 in New York City. (Spencer Platt/Getty Images)
Pfizer's corporate headquarters stand in midtown Manhattan on November 12, 2015 in New York City. (Spencer Platt/Getty Images)

The American drug company Pfizer is ending its planned merger with the Irish company Allergan, days after the Treasury Department issued tough new rules aimed at stopping what are known as corporate inversions.

That’s when American companies re-incorporate abroad to save on taxes.

CNN’s Maggie Lake speaks with Here & Now’s Robin Young to discuss how the new rules might have led to Pfizer’s decision.

Guest

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