http://www.bloomberg.com/news/2014-09-22/treasury-unveils-anti-inversion-rules-against-tax-deals.html?cmpid=msnmoney
As in the movie Despicable Me, "knocked over" can be used to describe us. As the little tether of hope for an inversion with AZ or whoever has finally been laid to permanent rest. Oh well, that's all folks.
This inversion quest really got attention a few months ago when Medtronic grabbed Covidien (Ireland) and made no secrets about what they would gain (tax breaks!) in doing.
Lew, who said in July that Treasury lacked authority to stem inversions, reversed himself in August. So just like the rest of the executive actions, this one will be knocked down as unconstitutional.
Pfizer is gettin' hungry! We gotta buy buy buy someone quick! Maybe the Actavis thing will play out. Who needs AZ anyway...their noses will always be turned up.
Noses turned up.....really. People in glass houses shouldn't throw stones. Pfizer reps thought they were hot sh*t for years. Oh how the mighty have fallen. We are a shell of what we used to be. Shoddy research/having to buy every product-company to survive. Disaster for an ELT. Magazine article painted us as a joke a few years back (remember that one). Multiple layoffs in the last 7 years. Recent failed acquisition attempt. Stock price in the toilet compared to what the market has done in the last 4 years. Need I go on?? You talking smack about AZ......please!!
Constitutionality of the Treasury's action will be challenged eventually. For now, does this change likelihood or likely companies that Pfizer could invert with?
Personally, I think AZ is still out there. I think Actavis would have been OK but the prize is AZ. Look for something in Dec since Pfizer can come back on 11/26 (or around that date). They will give AZ the $3B pounds more they were looking for. It will take a + a year to figure it all out but probably by Jan. 2017 (at latest) we will see PAZ pharma.
So Pfizer should pay a higher corporate tax rate than Sanofi, Glaxo, Novartis, Astellas, Roche, et al, therefore leaving fewer dollars for YOUR compensation, YOUR dividends, and investment in YOUR company... And you Lefties are wondering why you're getting laid off...
Tax reform would be the right thing ( no pun intended ), but I'm not holding my breath on that happening anytime soon. Inversion may be harder now, but it's probably the right way to go.
Does that mean we may finally get rid of her?? How she still has a job with Pfizer after her role with Kindler in pushing Obamacare, her conflict of interest from also being an DEM part bundler, the PR debacle with AZ, ...I will never understand
