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Government to profit from Pfizer’s €151bn takeover of Allergan

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Government to profit from Pfizer’s €151bn takeover of Allergan

Government to profit from Pfizer’s €151bn takeover of Allergan
November 24
11:10 2015

Pfizer’s deal to buy-out Allergan was formally announced yesterday the 23rd November, it will be one of the largest corporate takeovers in history, which will not only benefit the shareholders of Allergan but also the Irish Government.

Ireland’s exchequer will be in line for an annual boost of up to €620 million following the announcement.

When the deal is completed, Pfizer has said, it will move its corporate headquarters to Dublin to take over Allergan’s Irish headquarters, sharply cutting its tax bill in the United States.

Unsurprisingly, the US government is none too pleased with the takeover bid and Pfizer’s decision to move its corporate infrastructure to Ireland, with Hilary Clinton Democratic, the presidential candidate accused Pfizer of using legal loopholes to avoid paying its “fair share” of US income taxes. “We cannot delay in cracking down on inversions that erode our tax base,” the former US secretary of state said in a statement.

Under the terms announced on Monday, Allergan shareholders will own 44 per cent.

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