New Pfizer and Allergan rumors dismissed

15 December 2017

More than 18 months after US pharma giant Pfizer (NYSE: PFE) abandoned plans for a $160 billion acquisition of Ireland-domiciled Allergan (NYSE: AGN), rumors of a merger between the two drugmakers resurfaced on Thursday.

The companies called off the merger after the US Treasury issued new rules on tax inversion deals which companies can use to move their tax base to a country with lower tax rates.

"Allergan's own acquisitions in recent times have been at best confused, and at most value-destroying; making Allergan less palatable to Pfizer"

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