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12:00 AM
Feb 02, 2009
 |  BioCentury  |  Strategy

Now What? The deal in brief

Pfizer Inc. is acquiring all of Wyeth's outstanding common stock for $50.19 a share, or $68 billion, including $33 per share in cash and $17.19 per share of Pfizer's stock based on a fixed exchange ratio of 0.985.

Upon completion, Pfizer shareholders will own about 84% of the combined company.

The price is a 15% premium to Wyeth's close of $43.74 on Jan. 23, the day before the deal was announced, and a 29% premium to its close of $38.83 on Jan. 22, before rumors of the deal surfaced.

Pfizer anticipates the transaction will be accretive within the second full year following the close, which is expected at the end of 3Q09 or in 4Q09.

Pfizer anticipates savings of some $4 billion via synergies by the end of 2012. The $4 billion would be on top of $400...

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