High-profile breakups tend to have winners and losers. And you can bet that the dissolution of what would have been both the largest-ever tax inversion and the largest-ever deal in health care will, too.
The drug makers Pfizer and Allergan agreed to part ways on Wednesday, nixing a proposed $152 billion merger that would have allowed Pfizer to pay lower taxes by moving its headquarters to Ireland. The reason: New rules from the US Treasury intended to make it tougher for corporations to reduce taxes with that type of maneuver, known as an inversion.
The fallout from the breakup isn’t yet entirely clear. But here’s an early scorecard:
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