Collapse of biggest ever pharmaceutical merger following tightened US tax regime suggests tax incentives were greater than commerce caseIt was poised to be the biggest pharmaceuticals merger ever. Pfizer,the company responsible for Viagra, was to hook up with Botox maker Allergan in a deal worth $160bn (£114bn). That was before Barack Obama got involved. Earlier this week, and the US Treasury announced it was to tighten up its corporate tax laws to deter mergers and acquisitions (M&A) activity motivated by the desire to pay less tax. Within 48 hours,the mega deal was history, and a good thing too.
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Source: theguardian.com