Pfizer to abandon $160 billion merger with Allergan

The move follows a crackdown by the US government on corporate inversions

6th April, 2016
Pfizer is to abandon its proposed merger with AstraZeneca Pic: Getty

Pfizer decided to terminate its $160 billion (€140 billion) merger with Allergan, a person familiar with the matter said, marking an end to the largest-ever health-care acquisition as officials in Washington crack down on corporate inversions.

Pfizer will need to pay a $400 million fee to Allergan for expenses relating to the deal, the person said, asking not to be identified as the information is private. Allergan, which is run from New Jersey but has...

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