Pfizer & Al build the biggest ever merger nears completion

Bloomberg quoted informed sources said the two conclude a price between $ 370 to 380. But another source said that the document on tax inverted US Treasury Department on Wednesday released the final merger agreement may hinder reached.
Al Jianhe Pfizer's enterprise value (EV) in total more than 400 billion US dollars, the purchase price proposed by Pfizer, both total market capitalization of over 340 billion US dollars, the two merged to become one of the largest merger in the history of medicine.
Previously the largest M & A cases in fifteen years ago, America Online (AOL) and Time Warner acquisition, the two companies are market capitalization of about $ 340 billion in total, but then it ended with a huge loss and separation, the case also to become "the biggest failure in the history of" merger.
Pfizer license last month that the company is in talks to buy the real Al built the company after merger will in New York headquarters moved to Ireland. About a year ago, Pfizer abandoned up to $ 118 billion in AstraZeneca (AztraZeneca) acquisition transaction, that transaction tax inversion had its headquarters will be transferred to the UK, but the US Treasury stopped being revoked.
Pfizer, whether it is the acquisition of AstraZeneca or Al build one of the main purpose is through the "tax inversion" to achieve tax avoidance.
Pfizer CEO Ian Read has more than once said that the US onerous tax system allows Pfizer disadvantage is the need to address the most urgent task of Pfizer. If the US government does not change tax policy, tax cuts and the motivation for the company to move to a place of business abroad will not weaken.
Tax inversion is an enterprise registered by changing the way, from high-tax countries to move to low-tax countries, the original should apply a relatively high tax rate becomes applicable tax rate is relatively low, in order to achieve the purpose of tax avoidance. Tax inversion can also be done through the transfer of overseas business after the merger, the "upside acquisitions."
Al built the current market value of $ 117.2 billion, according to Pfizer's proposed purchase price was $ 143 billion, market capitalization of $ 202.8 billion, Pfizer, the two companies are corporate behemoths in the industry. Al built last year which has just been Actavis (Actavis) Pharmaceuticals acquisition price of $ 66 billion, $ 40.5 billion this year again will be its generics business was sold to the Israeli pharmaceutical giant Teva.
Al built to produce botulinum toxin (Botox) and other well-known anti-wrinkle drugs, in the global cosmetics industry, high visibility, over the years has been to more than 10% annual sales growth ahead of the industry, many pharmaceutical companies. Ranked by revenue, Pfizer is the world's largest research-based biopharmaceutical company, it is more than 160 years of history of the old pharmaceutical companies.
This year is the pharmaceutical industry mergers and acquisitions "bumper." For example, US pharmaceutical companies Abbvie (AbbVie) to US $ 21 billion acquisition of anticancer drug manufacturers Pharmacyclis, and Pfizer Inc. (Pfizer) to $ 17 billion acquisition of US medicines and medical equipment manufacturers liters Switzerland (Hospira).