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Pfizer+%27Abandons+%24160bn+Allergan+Takeover%27
Thursday, 07 April 2016 - 12:41
Pfizer 'Abandons $160bn Allergan Takeover'
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US drugs giant Pfizer is reported to have scrapped a deal to buy Ireland's Allergan amid plans to change tax laws.

The decision comes two days after the US Treasury announced fresh plans to prevent deals known as "inversions", where a US firm merges with a company in a country with a lower tax rate.

The Pfizer-Allergan deal, valued at $160bn (£113bn), would have been the biggest example of an "inversion".

Dublin-based Allergan has been in talks with Pfizer since late last year.

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