New U.S. Treasury regulations aimed at curbing tax inversions, where U.S. companies acquire foreign counterparts and headquarter abroad, seem to be working. But their broader goal – to keep American corporate capital at home – has failed. Consider the recent mergers-and-acquisitions activity. Chicago-based CF Industrial Holdings and Netherlands-based OCI called… – Continue reading
Ireland’s 12.5 percent corporate tax rate has encouraged several major U.S. companies like Medtronic, Pfizer, Johnson Controls, and Baxalta to move there in tax inversions in recent months, saving them billions of dollars of taxes and protecting themselves from international competition in the process. The U.S. corporate tax rate, on… – Continue reading
Irish drug giant’s long-standing plan to acquire US rival – and lower its tax bill – is finally sealed thanks to beefed-up cash offer The drugs maker Shire yesterday clinched a $32bn (£22bn) takeover of US rival Baxalta after sweetening the deal with a bumper cash component despite fears such… – Continue reading
Pharmaceutical giant Shire, which is headquartered in Ireland for tax purposes, has agreed to buy US rare disease specialist Dyax Corp for about $5.9bn (€5.35bn), and potentially up to $6.5bn, while still pursuing a five- times larger unsolicited bid for biopharma firm Baxalta Inc. The Dyax deal, the latest in… – Continue reading
Shire, the giant pharmaceutical company that relocated its head office from the UK to Ireland for tax reasons a number of years ago has surprised investors by launching a US$30bn hostile bid to acquire the American company, Baxalta, which is also involved in the manufacture of drugs to combat rare… – Continue reading
