One of the US largest drug manufacturers has officially announced the termination of the deal with the Irish company Allergan. The deal, which is estimated at $160 billion, has been canceled due to US new tax policy. Companies can no longer change the tax residency, which previously allowed to reduce the amount of taxes by registering firms in other countries. It is worth noting, that the cancellation has had a positive impact on Pfizer, since it has significantly reduced the burden on the cash flow and the company's shares.
The Pfizer shares have grown by 5%. The value continues to rise, which gives traders a great chance to earn money on a further increase. Trading will be available during the American session, from 14:40 to 21:00 GMT time.
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