New York City-based Pfizer, a pharmaceutical company, is questioning whether it should move forward with its Dublin, Ireland-based Allergan merger after the Obama administration implemented new rules on tax inversion, according to The Hill.
Here are three insights:
1. The merger between the two drug companies is valued at $160 billion and is the largest of its kind to date.
2. The Treasury Department implemented strict new rules on tax inversions, which many view as a way to block the Pfizer-Allergan merger.
3. Pfizer opted to move its tax addresses to Dublin to save billions in tax revenues, resulting in political scrutiny from candidates including Hillary Clinton and Donald Trump.
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