pfizer agrees to $68 billion deal for wyeth


	pfizer agrees to $68 billion deal for wyeth

doodleicious

1-26-2009 1:23 AM

155 views

tags:

wheelin', &, dealin'

doodleicious says:

the break-up fee on this deal if it does fall through is set to be $4.5 billion....

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/d6cc3331-a91e-44b2-b991-480139aa6268/7BD8B9FF-E010-4B91-9471-2EE84914F4D9/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.nytimes.com/2009/01/26/business/26drug.html?_r=1&hp" href="http://www.nytimes.com/2009/01/26/business/26drug.html?_r=1&hp" style="font-size: 11px;">www.nytimes.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/2009/01/26/business/26drug.html?_r=1&hp"><NYT_HEADLINE type=" " version="1.0">
Pfizer Agrees to $68 Billion Deal for Wyeth
</NYT_HEADLINE></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/2009/01/26/business/26drug.html?_r=1&hp"><P>The board of <A title="More information about Pfizer Inc" href="http://topics.nytimes.com/top/news/business/companies/pfizer_inc/index.html?inline=nyt-org">Pfizer</A>, the world’s largest drug maker, agreed on Sunday night to acquire a rival, <A title="More information about Wyeth" href="http://topics.nytimes.com/top/news/business/companies/wyeth/index.html?inline=nyt-org">Wyeth</A>, for $68 billion, according to people involved in the negotiations. </P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/2009/01/26/business/26drug.html?_r=1&hp"><P>The deal would not only create a pharmaceutical behemoth but would be a rarity in the current financial tumult: a big acquisition that is not a desperate merger of two banks orchestrated by the government.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/2009/01/26/business/26drug.html?_r=1&hp"><P>It would also be the first big merger backed by Wall Street in months. While credit has been notoriously tight of late, five banks have agreed to lend Pfizer $22.5 billion to pay for the deal. Pfizer, which has roughly $26 billion in cash, would finance the deal through the loans, some of its cash and stock. </P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/2009/01/26/business/26drug.html?_r=1&hp"><P>If the transaction is completed as planned, it would be the biggest merger since <A title="More information about AT&T Corp" href="http://topics.nytimes.com/top/news/business/companies/at_and_t/index.html?inline=nyt-org">AT&T</A> and BellSouth combined in a $70 billion deal in March 2006, according to the research firm Capital IQ.</P></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/7BD8B9FF-E010-4B91-9471-2EE84914F4D9/blog/" title="blog or email this clip"><img src="http://content7.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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