(Bloomberg) -- In this episode, Alex and Global M&A Managing Editor McCracken discuss the largest deal of the year and the biggest health care deal ever, Pfizer Inc. and Allergan Plc's $160 billion merger. They ponder whether the deal, constructed so that Pfizer will pay lower taxes by domiciling in Ireland, opens the door for more so-called inversions just as the U.S. Treasury tries to crack down on them.

Frank Aquila, a partner at Sullivan & Cromwell, joins Alex and Jeff to compare M&A in the 1980s with the present day, crediting companies and their advisers for doing smarter deals now, while regretting one particular merger that never got done.

<p>(Bloomberg) -- In this episode, Alex and Global M&amp;A Managing Editor McCracken discuss the largest deal of the year and the biggest health care deal ever, Pfizer Inc. and Allergan Plc's $160 billion merger. They ponder whether the deal, constructed so that Pfizer will pay lower taxes by domiciling in Ireland, opens the door for more so-called inversions just as the U.S. Treasury tries to crack down on them.

Frank Aquila, a partner at Sullivan &amp; Cromwell, joins Alex and Jeff to compare M&amp;A in the 1980s with the present day, crediting companies and their advisers for doing smarter deals now, while regretting one particular merger that never got done.</p>

Bloomberg M&A reporters, joined by outside experts and members of Bloomberg's Deals team, examines the week's biggest deals and highlights M&A trends most under scrutiny by Wall Street. He'll talk to reporters who broke Bloomberg's major scoops and interview investors, executives, lawyers and bankers for an inside peek into what's going on inside corporate boardrooms and what it's like working with the world's largest companies and richest people.

Bloomberg M&A reporter Alex Sherman examines the week's biggest deals and highlights M&A trends most under scrutiny by Wall Street.

Deal of the Week

Episode 2: Pfizer Sticks It to U.S. Treasury

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/f6afa4a4-0aef-4d38-b6cd-ae39005c3759/transcript