If Pfizer Inc. is successful in its $98.7 billion takeover of
London-based AstraZeneca Plc, there is one big potential loser: the U.S. Treasury.
Under the
proposed deal’s structure, the combined company would be owned by a new U.K.
parent. That doesn’t mean any of New York-based Pfizer’s executives would need to move abroad: Chief Executive
Officer Ian Read has said the drugmaker would be run from the
U.S. It does mean, however, that Pfizer is joining a wave of U.S. companies
using mergers as ways to slash income tax bills by shifting their head office
overseas -- often on paper only.
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