The bigwigs Carl Icahn talks to say they're going to move their companies overseas to avoid taxes
Unfortunately, all the CEOs he talks to want to do one to avoid paying taxes.
Writing in The New York Times on Monday, Icahn calls the proposed Allergan-Pfizer merger a "travesty."
(As a quick refresher, Allergan and Pfizer announced in late November that they planned to merge in a deal that would create a $160 billion pharmaceutical giant based in Ireland. This deal is also a so-called "tax inversion" which will see Pfizer's tax base shift from the US to Ireland, reducing its effective tax rate and resulting payments to the US government. Shareholders like these deals. Icahn does not.)
But Icahn is, to some extent, already over the Pfizer-Allergan disaster and now more worried about what happens next.
And according to Icahn's research what happens next is more tax inversions.
Here's Icahn (emphasis ours):