Deals
Pfizer Scrambles to Save Allergan Deal Amid New Tax Rules
- Lawyers are examining how to challenge U.S. Treasury proposal
- High chance merger will fall apart if new rules go ahead
Inside Pfizer's Scramble to Save Allergan Deal
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Pfizer Inc. is scrambling to save its planned $160 billion merger with Allergan Plc, which is at risk of falling apart amid the latest U.S. crackdown on corporate inversions, according to people with knowledge of the matter.
Lawyers for Pfizer are examining how they might be able to challenge the U.S. Treasury Department’s new rules, the people said, asking not to be identified as the deliberations are private. Fighting the decision in court is one of the options under discussion, as well as restructuring the deal to reduce what Pfizer would pay, they said. No final decision has been made, and advisers to both companies are still analyzing the documents, they said.