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A $100 Billion Tax Play?
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• Pfizer confirmed that it offered up to $100 billion to buy British rival AstraZeneca. About 70 percent of its bid would be paid in shares. AstraZeneca said the offer was too low. If a deal goes through, Pfizer would gain control of a lucrative stable of cancer, diabetes, and cardiovascular drugs. It would also provide a European beachhead that could help the New York-based company avoid hundreds of millions in U.S. taxes.