ASSOCIATED PRESS: Pfizer and Allergan join forces in $160 billion buyout.
ASSOCIATED PRESS: Pfizer and Allergan join forces in $160 billion buyout.
It’s also the largest so-called inversion, where an American corporation combines with a company headquartered in a country with a lower corporate tax rate, saving potentially millions each year in U.S. taxes.
Pfizer, which makes the cholesterol fighter Lipitor, will keep its global operational headquarters in New York. But the drugmaker will combine with Botox-maker Allergan as a company that will be called Pfizer Plc. That company would have its legal domicile and principal executive offices in Ireland.
