Please login to the form below

Not currently logged in
Email:
Password:

Pfizer agrees Icagen acquisition

Pfizer has completed its tender offer to purchase outstanding shares of Icagen following two extensions

US-based pharmaceutical company Pfizer has completed its tender offer to purchase outstanding shares of Icagen following two extensions, agreeing a price of $6 per share with the biotechnology firm. The total value of the acquisition, once completed, will be $56m.

The deadline for the deal had to be extended twice as Pfizer had not received enough shares.

However, over 4.6 million shares were eventually tendered, giving Pfizer 54 per cent of Icagen's total shares. Pfizer already held 1.1 million shares in Icagen.

This satisfied the conditions for Pfizer's acceptance of, and payment for, shares tendered in the initial tender offer.

Following completion of the tender offer, Pfizer intends to acquire of Icagen through a merger under Delaware law.

Icagen shareholders who do not tender their shares of Icagen common stock in the tender offer will not receive payment for their shares until the merger is concluded.

7th September 2011

Share

Featured jobs

Subscribe to our email news alerts

PMHub

Add my company
StratX

StratX creates experiential learning programs instilled with emotion and competitive spirit, leading to lasting on-the-job change. Our memorable approach develops...

Latest intelligence

segmentation_pie_thumb.jpg
If you’re not thinking segmentation, you’re not thinking
Having a background in market research I’ve been lucky to work on a number of customer segmentations in my time but working in creative communications it is still too rare...
Improving Outcomes in the Treatment of Opioid Dependence Highlights Report
The 16th annual ‘Improving Outcomes in the Treatment of Opioid Dependence’ (IOTOD)conference took place at the Hilton Madrid Airport hotel on 15–16 May 2018....
Londonvelophobia (fear of cycling in London) – debunked
...

Infographics