In the latest shake-up in the healthcare industry, pharmaceutical firms Pfizer Inc. and Botox-maker Allergan announced their $160-billion merger, creating the world's largest drugmaker.
The new company will take New York-based Pfizer's name but will be headquartered in Dublin, Ireland, the current home of Allergan. The move is a variation on what's known as a tax inversion and will lead to lower tax rates for the company.
Read on to find out more about this deal.
Why is this deal happening?