Pfizer Abandons Allergan Deal After New Treasury Department Rules
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.
- Maggie Lake, CNNMoney anchor and correspondent and host of CNNMoney with Maggie Lake. She tweets @maggielake.
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