Perrigo CEO defends Elan acquisition

When news of Perrigo's friendly acquisition offer for Elan hit the news wires on the morning of 29 July, the over-riding reaction from observers was one of confusion. Why was this a good deal for Perrigo? Surely it could have taken advantage of the Irish tax system through the more cheaper option of relocating domicile to Ireland, just as Shire did a few years ago, rather than paying out cash and stock of $8.6bn (scripintelligence.com, 29 July 2013)?