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  • Editor’s Picks / 06 April 2016 at 5:31 GMT

    Pfizer, Allergan to mutually terminate merger

    Sky News
    US drug maker Pfizer has agreed to terminate its $160 billion agreement to acquire Botox maker Allergan, in a major victory to US President Barack Obama's drive to stop tax-dodging corporate mergers. The decision to end the biggest tax 'inversion' ever attempted, which would have seen Pfizer slash its tax bill by redomiciling to Ireland where Allergan is registered, came a day after the US Treasury unveiled new rules to curb inversions. While these new rules did not name Pfizer and Allergan, one of their provisions targeted a specific feature of their merger: Allergan's previous history as a major acquirer of other companies.
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  • Editor’s Picks / 23 November 2015 at 21:57 GMT

    Pfizer and Allergan agree to $160bn merger

    CNBC
    Pfizer will buy Allergan for $363.63 a share, or about $160 billion in the biggest deal ever in the health sector. It said it will likely relocate its global headquarters from New York to Ireland, a move that will cut the drug giant's US tax burden. Fred Imbert writes the deal represents a premium of over 30% based on the price of the companies' unaffected shares as of October 28. Allergan shareholders will receive 11.3 shares of the combined company – Pfizer PLC – for each Allergan share, while current Pfizer shareholders will receive one share of the new company for each share they own. The deal, the largest ever in the healthcare sector, is expected to close in the second half of next year.
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  • Article / 30 October 2015 at 11:40 GMT

    Earnings Watch: Facebook reigns supreme

    Head of Equity Strategy / Saxo Bank
    Denmark
    Earnings Watch: Facebook reigns supreme
    Facebook is next week's most important earnings release with sell-side analysts expecting high growth on revenue and EPS. Our view is that Facebook is very likely to surprise against estimates and provide a bullish outlook driven by the new product roll-outs around Instagram.
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