FYI:
Pfizer Inc (PFE.N) secured formal board approval on Sunday for its acquisition of Botox maker Allergan Plc (AGN.N) for more than $150 billion, a deal that will create the world's biggest drug maker, according to people familiar with the matter.
The deal, the largest ever in the healthcare sector, will be announced on Monday and is sure to draw political ire in a U.S. presidential election year because Pfizer would redomicile to Ireland, where Allergan is registered, in a so-called "inversion" that would slash its corporate tax rate.
Regards,
Ted
http://www.reuters.com/article/2015/11/23/us-allergan-m-a-pfizer-idUSKBN0TB0UT20151123#b64RzIuvX26iZFhE.97
Comments
I'd rather have seen Saunders become CEO and Ian Read stay on in some other form.
The market not exactly taking the deal well: 11.3 PFE shares + small cash for every AGN share = somewhere around $360-365ish probably at current price.
AGN currently -2% pre market to $305.