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Pfizer's Bid for Allergan May Be Too Good to Turn Down

Pfizer (PFE - Get Report) is exploring a merger with Allergan (AGN - Get Report) that it hopes will provide attractive tax savings but also a strong pipeline of products.

And, while the target has a number of attractive drugs, doubt remains about how much benefit the acquirer would reap from using Dublin-based Allergan in a tax inversion strategy.

Merger talks were confirmed by the companies Thursday following a Wall Street Journal report.

Shares of New York-based Pfizer dropped by 1.9%, closing at $34.77. Allergan rose by 6%, closing at $304.38.

This is Pfizer's second attempt at a transformative...