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.
Read full article at CNBC

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