The Federal Trade Commission is asking for more information from Pfizer and Allergan regarding their pending merger deal, according to a Wall Street Journal report.
Here are five takeaways:
1. Pfizer and Allergan entered into a merger agreement in November. At the time the deal was worth more than $150 billion, however the price has since declined owing to a decrease in Pfizer's share price.
2. The deal would create one of the world's largest drug companies.
3. It would also result in Pfizer moving out of America. The deal has structured as a reverse merger, with the smaller Allergan, based in Ireland, buying out New York-based Pfizer.
4. The deal is still subject to the expiration of the waiting period under antitrust law, regulatory approval in other jurisdictions, approval from both Pfizer and Allergan shareholders as well as the completion of Allergan's divestiture of its generics business.
5. The companies still expect the deal to close this year.