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>> JACK LEW Latest News

21 HOURS AGO - TheStreet

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Why Corporate Inversion Is More Than a Political Punching Bag

NEW YORK (TheStreet) -- There is growing concern about corporate inversion -- when American corporations attempt to avoid U.S. tax rates, the highest in the world, by acquiring foreign companies and then relocating their headquarters overseas. The problem is that the discussion about corporate inversions is more connected with the elections this fall than it is with the tax and ...

Tags: Why Corporate Inversion Is More Than a Political Punching Bag,  Jack Lew Latest News

JUL 18, 2014 - Business Insider

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Another Billion-Dollar US Company Just Moved Across The Pond (ABBV, SHPG, MYL, ABT, PFE, AZN, JAZZ, VRX, AGN, ENDP, MNK, PRGO)

There has been another tax inversion. Earlier this morning, AbbVie, which is based in Illinois, announced a deal to acquire Ireland-based Shire in a $53 billion deal that will allow the drugmaker to move its tax base to Jersey, an island in the English Channel. A "tax inversion" is a deal in which a company, say one based in the ...

Tags: Another Billion-Dollar US Company Just Moved Across The Pond (ABBV, SHPG, MYL, ABT, PFE, AZN, JAZZ, VRX, AGN, ENDP, MNK, PRGO),  Jack Lew Latest News

JUL 18, 2014 - Business Insider

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America Just Lost Another Billion-Dollar Company To Ireland (ABBV, SHPG, MYL, ABT, PFE, AZN, JAZZ, VRX, AGN, ENDP, MNK, PRGO)

There has been another tax inversion. Earlier this morning, AbbVie, which is based in Illinois, announced a deal to acquire Ireland-based Shire in a $53 billion deal that will allow the drugmaker to move its tax base to Ireland. A "tax inversion" is a deal in which a company, say one based in the U.S., acquires another based in Ireland ...

Tags: America Just Lost Another Billion-Dollar Company To Ireland (ABBV, SHPG, MYL, ABT, PFE, AZN, JAZZ, VRX, AGN, ENDP, MNK, PRGO),  Jack Lew Latest News

JUL 18, 2014 - TheStreet

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Shire Agrees to AbbVie $55B Takeover Offer

LONDON (The Deal) -- AbbVie forged a 32 billion pounds ($54.7 billion) takeover deal for Shire Friday, having agreed to a $500 million-plus, one-way breakup fee amid concerns a potential U.S. clampdown on companies switching tax domiciles could derail a transaction that the target described from the outset as risky. Concerns about whether AbbVie would pull off the maneuver mounted ...

Tags: Shire Agrees to AbbVie $55B Takeover Offer,  Jack Lew Latest News

JUL 17, 2014 - TheStreet

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White House Push to Stop U.S. Companies Moving Overseas Unlikely to Bear Fruit

NEW YORK (TheStreet) -- On Tuesday, Secretary of the Treasury Jack Lew sent a letter to Dave Camp, Republican chairman of the House Ways and Means Committee, concerning tax reform. The gist of the letter: Enact new legislation that would stamp out corporate "inversions" where U.S. companies merge with foreign ones and locate the resulting parent company in a foreign ...

Tags: White House Push to Stop U.S. Companies Moving Overseas Unlikely to Bear Fruit,  Jack Lew Latest News