From the desk of Kyle Kottke…
In July of 2014, I published an opinion that was very direct about my views on corporate tax inversions or in short: tax evasion.
Listening to the now thwarted Pfizer deal, I have mixed emotions. The rules hadn’t changed and Pfizer was just doing what is in the best interest of their shareholder and we, the United States government, changed the rules mid-path on them? This seems very wrong to me. What the heck?!
Instead of making it that the United States and its companies are competitive with the rest of the world, we just change the rules midstream and leave companies with the mess? The mess for Pfizer now doesn’t allow the company to go forward with plans that would have saved them a projected $1 billion a year. On top of that, Pfizer will have to pay Allergan, the company they were to merge with, a $400 million break fee.
I hope there is a ‘rest of the story’, but until then…. I say rubbish.
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