World Economy

Pfizer, Allergan to Merge

Pfizer, Allergan to MergePfizer, Allergan to Merge

Pfizer Inc. and Allergan PLC agreed on a historic merger deal worth more than $150 billion that would create the world’s biggest drug maker and move one of the top names in corporate America to a foreign country, Nasdaq reported. The boards of each company ratified the deal Sunday and announced Monday, according to people familiar with the matter. The final terms include 11.3 Pfizer shares for every Allergan share and the deal also contains a small cash component, they said. The takeover would be the largest so-called inversion ever.