Pfizer, Allergan scrap $160 billion deal after U.S. tax rule change

Saunders gives an interview on the floor of the NYSEU.S. drugmaker Pfizer Inc and Ireland-based Allergan Plc walked away from their $160 billion merger on Wednesday, a major win for President Barack Obama, who has been pushing to curb deals in which companies move overseas to cut taxes. Pfizer said the decision was driven by new U.S. Treasury rules aimed at such deals, called inversions. The merger would have allowed New York-based Pfizer to cut its tax bill by an estimated $1 billion annually by domiciling in Ireland, where tax rates are lower.

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Trump hunts for votes in Wisconsin ahead of crucial primary

U.S. Republican presidential candidate Donald Trump greets supporters at a campaign rally in West AllisBy Steve Holland MILWAUKEE (Reuters) – Donald Trump tried to put a difficult week behind him and rally his supporters on Monday ahead of a crucial Republican presidential contest in Wisconsin, where he faced the unfamiliar position of underdog. Polls show the Republican front-runner trails U.S. Senator Ted Cruz of Texas in the Midwestern state, where a loss on Tuesday could dent the New York billionaire&;s aura of inevitability and make it harder for him to win the 1,237 delegates needed for the party&039;s nomination for the Nov. 8 election. "If we do well here, folks, it&039;s over," Trump said.

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