AbbVie-Shire merger is officially dead.
Big inversion deal killed by a letter from the treasury department. The issue here is, how smart is it to get in a fight with someone who buys lawyers the way cops by doughnuts? Or some other more appropriate simile. (This was a difficult simile because I couldn’t think of anything as prevalent as government lawyers.) The answer is not very. The point is that even if you’re in the right and have a solid case, it doesn’t cost the fed real money to fight it out in court, but it costs you out the nose big time. You’ll be bankrupt before the fed gives up. Hope you never get in the position where you have to choose between what’s right and survival.