NEW YORK (TheStreet) -- AbbVie (ABBV) finally agreed to terms for a $54.8 billion buyout of Shire (SHP) Friday. In the process, AbbVie has become the largest U.S company to ever take over a foreign company in a bid to lower its tax rate, a move known as inversion. This was the fifth offer AbbVie had made to Shire before being accepted.
Irish companies have become a hot-bed of activity recently as U.S corporations use the much lower Irish tax rate to play accounting games and reduce their tax exposure. And TheStreet's John Mason analyzed the growing practice of inversion yesterday.
But is this move a good idea for the companies, aside from the tax rate?
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