Presidential candidate Hillary Clinton cited "deep concerns" after New York City-based Pfizer and Dublin-based Allergan inked an agreement to merge, according to Politico.
"I urge Congress to act immediately to make sure the biggest corporations pay their fair share, and regulators should also look hard at stronger actions they can take to stop companies from shifting earnings overseas," she said in a Nov. 23 statement.
The $160 billion merger would create the world's biggest drugmaker. Through the deal, which is the largest tax inversion ever, Pfizer will shift its corporate location to Ireland to lower its tax rate.
Ms. Clinton claimed large mergers, such as Pfizer's with Allergan, "take advantage of loopholes that litter our tax code, distort incentives for investment and disadvantage small businesses and dietetics firms that cannot game the international tax system." She promised to reveal a policy proposal to prevent such huge mergers.
Her opponent, Senator Bernie Sanders (Vt.), also criticized the deal and asked the Obama administration to block to merger.
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