AbbVie, Shire Could Be Casualty in Treasury Crackdown

The transcript discusses the impact of Jack Lew's tax rule changes on corporate deals, particularly focusing on AbbVie's reconsideration of its deal with Shire. The announcement led to a significant drop in Shire's shares, surprising investors. Companies are reassessing deals due to the new tax implications, with the Treasury Department aiming to limit inversions. The Treasury's actions, including restrictions on hopscotch loans, are part of broader efforts to make such deals less attractive.

What was the significance of the $1.6 billion breakup fee mentioned in the text?

What message was the Treasury Department trying to send with its actions regarding inversions?