Companies clear agreement that would create the world''s largest pharmaceutical

American pharmaceutical Pfizer hit on Tuesday (6) the cancellation of its $ 160 billion to acquire Allergan, Botox''s manufacturer-operation that would lead to the world''s largest pharmaceutical in sales, according to "Wall Street Journal".
The purpose of the merger is a win for the onslaught of President Barack Obama aiming to avoid corporate mergers that have intended to avoid taxes, according to Reuters.
In a note submitted to the Securities and Exchange Commission (SEC, equivalent to CVM brazilian), Pfizer said that the companies decided to end the agreement on mutual consent, "as a result of the occurrence of an adverse tax change". The American giant will pay $ 150 million to Allergan as compensation for the expenses with the agreement terminated.
Tax change
The decision to end the biggest deal of "inversion" of taxes ever attempted – that would have reduced the tax account of Pfizer to change their domicile to Ireland, where the Allergan is registered-occurred a day after the Treasury of the United States unveil new rules to prevent such inversions.
Although these new rules have not quoted nominally Allergan, Pfizer and one of its provisions mira a specific feature of this merger: Allergan''s history as a big buyer of other companies. The subsequent collective bargaining agreement allows Obama cite a great victory during his last year in Office.
On Tuesday, Obama described the escape as a global "big problem" and urged Congress to take steps to prevent American companies perform "inversions" which reduce their tax bills through change of domicile abroad.