Non-US targets are increasingly attractive to American multinationals Pfizer's record-breaking $160bn deal to take over the Irish pharmaceutical company Allergan, which will result in the former becoming an Irish company, has been attacked in the US as “unpatriotic”. However, it also highlights the increasingly compelling advantages to basing high-growth technology and life sciences businesses in the UK and Ireland. US venture capitalists have historically invested in UK startups only if the company “flipped” its corporate structure, establishing a US parent company – typically incorporated in the state of Delaware (the so-called “Delaware flip”). But US investors are increasingly recognising that transatlantic tax dynamics now weigh in favour of investing directly into UK startups.

http://www.cityam.com/231339/end-delaware-flip-why-us-investors-are-targeting-uk-startups