In healthcare, pharmaceutical maker Allergan PLC (NYSE:AGN) was expected to achieve 80% of an estimated $1.8 billion in synergies stemming from recent acquisitions by the end of the first quarter of 2016. With valuable drugs like Botox and a rich R&D pipeline, Allergan was approached by Pfizer. Pfizer held preliminary and friendly discussions to acquire Allergan, which will offer Pfizer a low tax domicile in Dublin.
From Bernard Horn (Trades, Portfolio)'s Global Value Fund annual letter 2015.
