Pfizer Inc and Allergan PLC terminated their planned $150 billion merger after the Obama administration took aim at the deal that would have moved the biggest drug company in the US to Ireland to lower its taxes.

Yup.  Because the Progressive administration Knows Better than business leaders how those businesses should be managed.

The decision to walk away is the latest setback in Pfizer’s long-running efforts to overcome what Chief Executive Ian Read has said was the company’s competitive disadvantage with foreign rivals that faced significantly lower tax bills.

Of course, Jack Lew, the Treasury Secretary whose tax rules the center of the administration’s aim, knew this would be part of the result.

In addition, the failed deal also hurts Pfizer’s plans to break itself up. Company executives have considered splitting the company for years….

Of course, Lew knew this, too.  This pattern of abuse makes me wonder how closely Lew is coordinating his actions with Richard Cordray, the Consumer Financial Protection Bureau MFWIC.

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