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Pfizer is in talks to acquire Actavis

Posted on 24 September 2014

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Pfizer Inc. has approached Actavis with a possibility to acquire the company.

The companies aren’t in formal talks, said unnamed sources, with no offer on the table yet.

The news comes on a day rife with Wall Street downward pressure on biotech stocks, after U.S. Treasury Secretary Jacob Lew outlined new rules late Monday to dissuade domestic companies from so-called inversion, or using mergers and acquisitions as a way to move their headquarters to friendlier tax climates abroad. 

Pfizer was rebuffed in a similar effort last May in $114 billion bid for AstraZeneca, which would have allowed it to move its tax domicile to the United Kingdom. 

Parsippany, New Jersey-based Actavis would be an ideal inversion target for Pfizer because it snapped up its own Irish tax address last year when it acquired pharmaceutical Warner Chilcott Plc

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