The Pfizer logo appears on a screen above its trading post on the floor of the New York Stock Exchange, Wednesday, April 6, 2016. (AP Photo/Richard Drew)
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Pfizer Inc. and Allergan Plc have terminated their $160 billion merger in an abrupt end to the largest-ever health care deal after the U.S. government cracked down on corporate tax inversions. The U.S. Treasury Department's proposed new rules to deter companies from using acquisitions to shift their tax addresses overseas drove the decision, the companies said Wednesday in a statement. Pfizer, meanwhile, said it would decide whether to pursue a potential split of the company by no later than the end of this year.Pfizer shares rose 1.2 percent to $31.75 at 9:44 in New York, while Allergan gained 1.3 percent to $239.65 .
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