Pfizer Abandons AstraZeneca Bid But Its Tax Issues Live On
So another multi-billion dollar proposed merger between corporate giants is kaput. Pfizer announced on Monday it is abandoning its unsolicited bid to acquire British pharmaceutical company AstraZeneca after the company rejected its offers four times. A less obvious ramification of the proposed deal, though, still must play out even though Pfizer is throwing in the towel: namely Pfizer’s bid infuriated many in Congress because it would allow the company to reincorporate in the U.K.
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