Pfizer still set on tax inversion


Pfizer (NYSE:PFE) is still looking to complete it highly desired tax inversion, despite AstraZeneca's rejection of its £69.4B takeover bid in May.

CEO Ian Read is lobbying in Washington for an overhaul of tax rules which he says put U.S. companies at a disadvantage, and predicts that reforms will take years to play out.

Read says Pfizer is now "aggressively" pursuing acquisition options and a tax inversion is likely to be part of a future deal.

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Comments (5)
  • Willow Street Investments
    , contributor
    Comments (2369) | Send Message
     
    PFE CEO is a person with no ideas who has to play tax games. Soulless investment bankers are pushing him to do it. Shareholders will be stuck with a capital gains bill if a deal like this goes through. What a poorly run company.
    30 Jul 2014, 05:01 AM Reply Like
  • Dave092162
    , contributor
    Comments (206) | Send Message
     
    I am really starting to believe that Mr. Read needs to be removed from the CEO
    seat and be replaced with someone with better ideas for growth and moving the
    company forward besides trying to do more more acquisitions and playing the tax evader role !!!
    30 Jul 2014, 06:59 AM Reply Like
  • Ed Burk
    , contributor
    Comment (1) | Send Message
     
    The US Government takes NO financial risk, as NO monies invested in an enterprise, employs NO productive people, has Enormous coercive powers, makes more money, through taxes, than any private company in the country. Private companies have is satisfy consumer needs each and every day. The consumer "elects" to take a company's product by voluntarily purchasing its products with his after tax dollars as opposed to draconian state and US tax laws that significantly dictate corporate actions. As the song goes.."when will they ever learn/"
    30 Jul 2014, 08:03 AM Reply Like
  • stuff2gil
    , contributor
    Comments (48) | Send Message
     
    If the stock continues to drop in price our capital gains on an inversion will be less. It is is truly a lose lose situation. Mr. Read should be seeking a win win situation for the shareholders, that is who he works for....isn't it?
    30 Jul 2014, 09:32 AM Reply Like
  • jsijimmy
    , contributor
    Comments (556) | Send Message
     
    Once again, Harvard/yale/cornell business school people doing the same things - monkey see, monkey do - this will all come back to bite them (NYSE:PFE) and other companies doing similar "inversion two-step..." in a few years, maybe less. When/if they become "un-American' I will no longer be a stock holder. And, I hope with little enthusiasm that the US Government (both Dems and Pubs) will actually look into the future and see the impact this will have on our country/economy/nation. One example of law making - for drug companies inverting - regardless of what "US" holding company, or companies, they run, their drugs shall be treated as foreign and will have to undergo the usual scrutiny of foreign drug makers by the FDA - one item on a list of hundred's to the executors of this "Un-American" inversion strategy. Shame on them, and all others considering this idea. And, may the countries to which they are "inverting" raise taxes/fees/duties/etc. on them to the point where the net gain from the inversion is less than zero.
    30 Jul 2014, 06:28 PM Reply Like
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