In a letter to Shire employees late last month, AbbVie CEO Richard Gonzalez talked about how the companies’ pending merger will provide an “opportunity to lead and grow in important therapeutic areas,” and that the two firms’ “complementary pipeline (will) enhance innovation.”
One factor he didn’t mention, however, was the fact that the merger, expected to be completed before the end of the year, could also result in a corporate tax rate that’s even lower than the one Shire currently pays in Ireland.
One frequently overlooked detail in the merger of the two companies – the largest of the controversial tax-inversion deals involving U.S. companies that are now in the works – is that the resulting company will be based in the UK for tax purposes.
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