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$PFE 2Q15 Q&A: For the question on threshold for completing an inversion asked by Fernandez of Leerink, Frank replied that prior to Sept. 22 proposed rule changes by the IRS, hurdle is less than 80%. The hurdle was lowered to less than 60%, meaning PFE has to do a larger acquisition to get full benefits; went from less than 80% to less than 60%.
$WBA is yet to receive US anti-trust clearance for its Rite Aid acquisition. The deadline for the deal expires on January 27.
$BMY plunge 7.2%. No credits to the non-acceleration of approval for lung cancer combination treatment.
Well this is big! I don’t know if it’s someone’s monopoly or genuine excitement, but either way, $CSX is up 23% after market closed. I heard some activist investor is going to blow big money into CSX Corp. Anyone mind explaining?