A merger between pharmaceutical giants Pfizer (PFE) and Allergan (AGN) has reportedly been approved by each of the company’s boards. The deal would be historic, worth $150 billion, and would create the world’s largest pharmaceutical company. The merger would be a ‘tax inversion’ where a company merges with another overseas to take advantage of that country’s lower tax rates. In this case, Pfizer would move its headquarters out of the United States and to Ireland. Ford (F) workers narrowly approved a new 4 year contract, wrapping up 5 months of negotiations between the United Auto Workers and the Detroit automakers. The Ford deal covers 53,000 hourly workers in the United States at 22 plants. Procter & Gamble should split itself into two companies, according to Barron’s. It argues the ‘radical action’ would give the company a chance to contend with more agile competitors.
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