Taxes Drove Valeant, Burger King Deals, Senate Report Says
Taxes appear to be much more important to the deals than the companies say, according to an advance copy of the report and testimony prepared for a hearing on Thursday.
A sign is posted in front of a Burger King restaurant on July 27, 2015 in San Rafael, California
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Tax savings drove the acquisition strategy of Valeant Pharmaceuticals International Inc. and led to Burger King’s move to Canada, according to a U.S. Senate committee report.
Taxes appear to be much more important to the deals than the companies say, according to a report and testimony prepared for a hearing on Thursday.