BUZZ-New U.S. tax-inversion rules weigh on agreed deals

Tue Apr 5, 2016 12:32pm EDT
 
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** U.S.-listed shares of companies that have agreed to "inversion deals" fall after U.S. Treasury unveils steps to curb such tax-avoiding transactions

** While Monday's rules do not target any specific deal, Allergan Plc, which agreed to be bought by Pfizer Inc for $160 billion, hit hardest. Shares fall 15 pct, biggest drag on S&P 500 Index

** U.S.-based Waste Connections' shares decline 5.3 pct, on track for worst day in more than 7 yrs. U.S.-listed shares of Canada's Progressive Waste Solutions, which Waste Connections is acquiring, fall 8 pct at $28.55

** U.S.-based IHS Inc decline 2.9 pct, while U.K-based target Markit Ltd fall 3.5 pct. Companies agreed to inversion deal last month

** Shares of Johnson Controls Inc dip 1.8 pct, while Ireland-based Tyco International Plc fall 2.7 pct. They announced a deal in January