Daniel Loeb feels the pain of investors anticipating the close of the the AbbVie Inc (NYSE:ABBV) / Shire PLC (ADR) (NASDAQ:SHPG) (LON:SHP) tax inversion merger as he questions a “mysterious” meeting at the Treasury Department.
Loeb on the government curbing plans for inversions
Arbitrage hedge funds with long exposure in the AbbVie Inc (NYSE:ABBV) / Shire PLC (ADR) (NASDAQ:SHPG) (LON:SHP) merger deal experienced shape pain when AbbVie “walked away from an entirely lawful deal” that Loeb infers was due to good old time arm twisting. Abbvie “opaquely” placed blame for nixing the deal on what Loeb termed “mysterious” meetings with the Treasury Department. Writing to investors in a letter today, Loeb said instead of President Barack Obama attempting a legislative solution to the problem – Congress...
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