Report: Allergan, Pfizer, close to deal
Pfizer Inc. and Allergan PLC are on the cusp of reaching a $150 billion deal that would create the world's largest drugmaker by sales, the Wall Street Journal reported Sunday, citing unnamed people familiar with the matter.
According to the newspaper, terms of the deal include 11.3 Pfizer shares for every Allergan share, along with a small cash component. The boards of each company were expected to approve the agreement Sunday and it could be announced Monday.
Pfizer and Allergan representatives declined to comment.
If a deal is reached, it would be the biggest ever merger in health care and the largest "inversion" ever - that's a tax-saving maneuver in which a U.S. company reincorporates in a country with a lower corporate tax rate. Botox maker Allergan is based in Ireland but runs much of its operations out of Parsippany, N.J. - AP
Feds to probe killing
Justice Department attorneys were to fly to Minnesota on Sunday to investigate the killing of a black man that has prompted protests and calls for the two Minneapolis police officers involved in the shooting to be prosecuted. A key issue during their visit will be whether authorities should release to the public videos of the fatal shooting a week ago of Jamar Clark, 24. Authorities have resisted releasing the footage - from an ambulance, mobile police camera, public housing cameras, and cellphones - because they said it doesn't show the full incident and would compromise investigations. - AP
Red panda found