Pfizer, Allergan Call Off Merger After ‘Inversion’ Tax Rule Change

(April 6, 2016, 11:22 AM EDT) -- NEW YORK — Pfizer Inc. on April 6 said it and Allergan PLC have agreed to terminate their November merger agreement “as a result of the occurrence of an adverse tax law change,” according to a Form 8-K filed with the U.S. Securities and Exchange Commission.

Pfizer will pay Allergan $150 million for costs, fees and expenses in connection with the failed merger. It said both parties released each other from subsequent legal claims.

Pfizer did not specify what tax law changes killed the merger, but...
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