Democratic presidential candidates Hillary Clinton and Bernie Sanders both criticized the planned merger of Pfizer and Allergan, which would produce the world’s largest pharmaceutical company and allow Pfizer to reduce its taxes by moving its legal residence overseas.
The $160 billion deal, announced Monday, would be the largest corporate inversion, a type of transaction in which an American company merges with a foreign company and then reincorporates the combined company overseas to reduce its tax burden.
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