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Pfizer Seeking Inversions Shows Companies Unfazed by Lew

Pfizer Inc. has approached Actavis Plc about a deal that could allow the U.S. drugmaker to move its address overseas and reduce taxes, in a sign the Obama administration’s efforts to curtail inversions might fall short.

Pfizer made its approach before the U.S. Treasury Department announced new rules Sept. 22 to make such deals -- called tax inversions -- more difficult, people with knowledge of the matter said. Those changes won’t deter Pfizer, even if they are a complication, one of the people said, asking not to be identified discussing private information.