Taxes Drove Valeant, Burger King Deals, Senate Report Says
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.