Allergan’s merger deal now in doubt
Shares in Allergan, one of Ireland’s largest pharmaceutical firms have plummeted due to a crackdown on tax inversions.
Allergan, which is run from New Jersey but has a legal domicile in Dublin, had been expected to merge with Pfizer of New York, which would move its HQ here, to take advantage of our lower corporate tax rate.
However, under the new rules the deal may not be as beneficial and both companies say they are now reviewing the plans.
The merger was formally announced last November.