Tuesday, April 29, 2014
Pfizer Pursues Acquistion That Will Enable It To Reincorporate In UK
This article describes Pfizer's pursuit of a UK competitor in the drug industry. Pfizer would reduce its tax burden substantially by reincorporating in the UK. It would also be able to repatriate billions in foreign profits that it would have to pay taxes on if it brought them back to the US. In an age of globalization, multinational corporations like Pfizer have no loyalty to any particular nation. They are effectively corporations without a country. Pfizer's CEO claimed that his mission is to increase shareholder value. Pfizer's shareholders have no national identity either. Money has no home.