(N.Y. TIMES) - Dealbook: Pfizer Proposes A Marriage With - TopicsExpress



          

(N.Y. TIMES) - Dealbook: Pfizer Proposes A Marriage With AstraZeneca, Easing Taxing In A Move To Britain. On Monday, Pfizer proposed a $99 billion acquisition of its British rival AstraZeneca that would allow it to reincorporate in Britain. Doing so would allow Pfizer to escape the United States corporate tax rate and new Obamacare taxes, and tap into a mountain of cash trapped overseas, saving it billions of dollars each year and making the company more competitive with other global drug makers. A deal — which would be the biggest in the drug industry in more than a decade — may ultimately not be done. AstraZeneca said on Monday that it had rebuffed Pfizer, after first turning down the company in January. Nonetheless, the pursuit by Pfizer, founded in a redbrick building in Brooklyn in 1849, has made it clear that the company wishes to effectively renounce its United States citizenship.
Posted on: Tue, 29 Apr 2014 16:48:50 +0000

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