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*Allergan, Pfizer drop after biggest-ever healthcare deal. Pfizer's shares fell 3 percent to $31.20, after the company said it would buy Allergan in a deal valued at about $160 billion, the biggest ever in the healthcare sector. The two stocks were the biggest drags on the S&P 500, while Pfizer was the biggest drag on the Dow.
*Pfizer set to buy Allergan for $160 bln. Stocks in major markets ticked lower after five days of gains and the euro fell as low as $1.0599, a seven-month low as the prospect of more policy easing by the European Central Bank was compounded by a security lockdown in Brussels. The healthcare sector was also in focus after Pfizer said it would buy Botox maker Allergan...
*Allergan, Pfizer drop after biggest-ever healthcare deal. *Alcoa up on report of Elliott stake, boosts materials. Pfizer's shares fell 2 percent to $31.54, after the company said it would buy Allergan in a deal valued at about $160 billion, the biggest ever in the healthcare sector.
*Allergan, Pfizer drop after biggest ever healthcare deal. *Mallinckrodt up after posting higher sales. Nov 23- U.S. stock indexes were set to open little changed on Monday, coming off last week's strong gains, as investors head into Thanksgiving week.
Nov 23- Pfizer Inc on Monday said it would buy Botox maker Allergan Plc in a record-breaking deal worth $160 billion, designed to cut the company's U.S. tax bill by moving its headquarters to Ireland. Investors had been hoping Pfizer would sell off its low-margin generics by 2017 while holding on to its faster-growing branded prescription drugs, a move that will...
*Pfizer set to buy Allergan for over $150 bln- sources. Industrial metals copper and nickel plunged and oil prices whipsawed, while the euro fell as low as $1.06 as the prospect of more policy easing by the ECB in Europe was compounded by a security lockdown in Brussels. Oil prices were highly volatile, with U.S. crude off $1.30 or 3 percent at $40.60 a barrel at one...
Pfizer and Allergan are joining in the biggest buyout of the year, a $160 billion stock deal that will create the world's largest drugmaker. Pfizer, which makes the cholesterol fighter Lipitor, will keep its global operational headquarters in New York. The combination will essentially be Pfizer "but with a lower tax rate," wrote Bernstein analyst Dr.
Barbara Ryan, Clermont Partners, weighs in on terms of the deal which is expected to close in the second half of 2016.
CNBC's Meg Tirrell reports details of the merger which will create the world's largest pharma company to be headquartered in Dublin, Ireland.
Some of the names on the move ahead of the open.
*Geopolitical security issues also weighed on investors' minds with a lockdown in Brussels continuing for a third day as police hunt for a suspected Islamist militant on the run since the Nov. 13 attacks in Paris. *Allergan's shares were down 2.4 percent at $305 in premarket trading, after agreeing to be bought by Pfizer in a deal valued at about $160 billion.
Pfizer Chief Executive Ian Read will be CEO of the combined company, while Allergan CEO Brent Saunders will be Chief Operating Officer, the companies said on Monday. New York- based Pfizer and Allergan, headquartered in Ireland, said Allergan shareholders will receive 11.3 shares in the combined company for each share held. Pfizer stockholders will have the...
] (AP)— Pfizer and Allergan will join in a $160 billion deal to create the world's largest drugmaker. The transaction is valued at $363.63 per Allergan share. Pfizer and Allergan will be combined under Allergan PLC, which will be renamed Pfizer PLC.
U.S. stock futures were under pressure this morning, after Wall Street posted its best week of the year.
New York- based Pfizer and Allergan, headquartered in Ireland, said on Monday that Pfizer would offer 11.3 of its own shares for each Allergan share. Pfizer stockholders will receive one share of the combined company for each of their Pfizer shares. Pfizer Chief Executive Ian Read will be CEO of the combined company, while Allergan CEO Brent Saunders will be Chief...
LOS ANGELES— Los Angeles Dodgers hire Dave Roberts as manager to succeed Don Mattingly.
CNBC's Meg Tirrell breaks down terms of the deal which would create the world's largest pharma company.
Vamil Divan, Credit Suisse analyst, discusses benefits of the mega deal, including tax inversion and freeing up funds for research and development.
Pfizer becomes the world's biggest drug maker.
*Pfizer set to buy Allergan for over $150 bln- sources. Oil fell more than 3 percent and industrial metals copper and nickel plunged, while the euro sagged to a seven-month low as the prospect of more policy easing by the ECB in Europe was compounded by a security lockdown in Brussels. Copper slumped to a fresh six-and-a-half year low and nickel tumbled 4 percent to...