<sod>In late October ''[[The Wall Street Journal]]'' reported that merger talks between Allergan and [[Pfizer]] were in early phases, with Pfizer approaching Allergan due to an industry-wide drop in share prices. Any merger with Allergan would then also give Pfizer the ability to re-domicile to Ireland, taking advantage of its lower tax rates.<ref>{{cite web|url=http://www.wsj.com/articles/pfizer-allergan-considering-combining-1446079506|title=Pfizer and Allergan Begin Merger Talks|first1=Jonathan D.|last1=Rockoff|first2=Dana|last2=Mattioli|first3=Dana|last3=Cimilluca|date=29 October 2015|work=The Wall Street Journal|accessdate=27 November 2015}}</ref><ref>{{cite web|url=http://www.bloomberg.com/news/articles/2015-10-29/allergan-deal-could-take-pfizer-closer-to-split-up-move-abroad|title=Pfizer, Allergan Said to Discuss Record Pharmaceutical Deal|first1=Ed|last1=Hammond|first2=Manuel|last2=Baigorri|first3=Cynthia|last3=Koons|date=29 October 2015|work=Bloomberg|accessdate=27 November 2015}}</ref> On 23 November, 2015, the two companies announced their intention to merge for an approximate sum of $160 billion making this the largest pharmaceutical deal ever and the third largest merger in history. As part of the deal, Pfizer CEO [[Ian Read]] will remain CEO and Chairman of the combined company (to be called Pfizer Plc), with Allergan CEO, Brent Saunders, becoming President and Chief operating officer. As part of the deal Allergan shareholders will receive 11.3 shares of the company, with Pfizer shareholders receiving one.<ref>{{cite web|url=http://www.bbc.co.uk/news/business-34900344|title=Pfizer seals $160bn Allergan deal to create drugs giant|work=BBC News|date=23 November 2015|accessdate=27 November 2015}}</ref>Pfizer discontinued the acquisition on 5th April 2016, after the Obama administration announced its plan to move ahead with a resolution banning such malpractice to avoid taxation. Pfizer will pay Allergan a breakup fee of $150 million. <ref>{{cite news|last1=Rockoff|first1=Jonathan|title=Pfizer Walks Away From Allergan Deal|url=http://www.wsj.com/articles/pfizer-walks-away-from-allergan-deal-1459939739|publisher=The Wall Street Journal}}</ref><eod>
<sod>In late October ''[[The Wall Street Journal]]'' reported that merger talks between Allergan and [[Pfizer]] were in early phases, with Pfizer approaching Allergan due to an industry-wide drop in share prices. Any merger with Allergan would then also give Pfizer the ability to re-domicile to Ireland, taking advantage of its lower tax rates.<ref>{{cite web|url=http://www.wsj.com/articles/pfizer-allergan-considering-combining-1446079506|title=Pfizer and Allergan Begin Merger Talks|first1=Jonathan D.|last1=Rockoff|first2=Dana|last2=Mattioli|first3=Dana|last3=Cimilluca|date=29 October 2015|work=The Wall Street Journal|accessdate=27 November 2015}}</ref><ref>{{cite web|url=http://www.bloomberg.com/news/articles/2015-10-29/allergan-deal-could-take-pfizer-closer-to-split-up-move-abroad|title=Pfizer, Allergan Said to Discuss Record Pharmaceutical Deal|first1=Ed|last1=Hammond|first2=Manuel|last2=Baigorri|first3=Cynthia|last3=Koons|date=29 October 2015|work=Bloomberg|accessdate=27 November 2015}}</ref> On 23 November, 2015, the two companies announced their intention to merge for an approximate sum of $160 billion making this the largest pharmaceutical deal ever and the third largest merger in history. As part of the deal, Pfizer CEO [[Ian Read]] will remain CEO and Chairman of the combined company (to be called Pfizer Plc), with Allergan CEO, Brent Saunders, becoming President and Chief operating officer. As part of the deal Allergan shareholders will receive 11.3 shares of the company, with Pfizer shareholders receiving one.<ref>{{cite web|url=http://www.bbc.co.uk/news/business-34900344|title=Pfizer seals $160bn Allergan deal to create drugs giant|work=BBC News|date=23 November 2015|accessdate=27 November 2015}}</ref>Pfizer discontinued the acquisition on 5th April 2016, after the Obama administration announced its plan to move ahead with a resolution banning such malpractice to avoid taxation. Pfizer will pay Allergan a breakup fee of $150 million.<ref>{{cite news|last1=Rockoff|first1=Jonathan|title=Pfizer Walks Away From Allergan Deal|url=http://www.wsj.com/articles/pfizer-walks-away-from-allergan-deal-1459939739|publisher=The Wall Street Journal}}</ref><eod>