US: Pfizer and Allergan speed up $150bn mega-merger talks

Pfizer has hastened discussions with Allergan over a potential acquisition, according to reports.

Ireland-base Allergan confirmed at the end of last month it was in talks to join forces with its US rival, but according to a source close to the matter the decision making process has picked up pace.

Pfizer is said to be negotiating an offer of between $370 and $380 per Allergan share, valuing the company at $150bn. However, the source added a deal was far from certain following news that the US Treasury plans to tighten its tax evasion rules further. Both Allergan and Pfizer declined to comment.

Yet several details remain unresolved. Among them is whether the timing and structure of a takeover would be affected by new guidelines from the Treasury Department governing so-called corporate inversions, mergers in which the acquirer moves its headquarters to lower-tax jurisdictions abroad.

Late last month, the two companies confirmed that they were in preliminary talks.

Full content: The New York Times

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