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Allergan PLC

Pfizer, Allergan abandon $160 billion merger plan

Pfizer, Allergan abandon $160 billion merger plan

NEW YORK — Pfizer Inc. said Wednesday that its merger agreement with Allergan PLC has been terminated by mutual agreement, a decision driven by the Treasury Department’s announcement of new rules intended to undercut this type of tax inversion deal. The move is a major victory for the Obama administration in its campaign against inversions,