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www.fdanews.com/articles/176188-shire-to-move-forward-with-baxalta-merger-despite-treasury-inversion-rules

Shire to Move Forward With Baxalta Merger Despite Treasury Inversion Rules

April 13, 2016

One day after Pfizer announced it was terminating its proposed merger with Ireland’s Allergan, a seemingly undeterred Shire said it still intends to pursue Baxalta.

The company said it expects to complete the merger by mid-2016, as originally planned.

Shire’s announcement came after the Obama administration unveiled regulations that would restrict firms from acquiring smaller foreign companies as a way to change their tax residence and avoid paying U.S. taxes.