November 2, 2015 Comments Off on What Would a Allergan-Pfizer Merger Mean for CRE? Views: 690 California News, Orange County

What Would a Allergan-Pfizer Merger Mean for CRE?

Let’s face it. When two huge companies with thousands of employees and lots of land decide to merge, there’s bound to be layoffs and a glut of empty commercial real estate remaining on the market.

It seems as if that’s exactly what’s about to happen if reports are true that the two mega pharmaceutical companies, Allergan and Pfizer, will soon merge.

A potential marriage between the two companies could reportedly take place by Thanksgiving.

There’s no telling what the fallout could be, but layoffs and/or office space coming online in major cities is surely a likelihood.

Allergan has had a strong presence in Southern California for years. Back in March, when American pharmaceutical giant Actavis (headquartered in Dublin) bought Allergan, the L.A. Times sat down with Allergan’s CEO, Brent Saunders, who said, “We remain strongly committed to Irvine….The cuts are done. There is no second shoe to drop. The people who are there are there.”

Let’s see if these comments hold true in the coming weeks as the merger talks continue with Pfizer.

Read More at Business Standard

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