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
IGNIFI

We’re IGNIFI. An independent creative agency, we help spark and sustain successful brands for some of the biggest names in...

Latest intelligence

50 questions for delivering an exceptional healthcare brand experience
Our 50-question brand planning checklist for healthcare ensures you deliver an exceptional experience, based on what your stakeholders want and need...
The brand strategy revolution
Introducing a new tool for developing a stakeholder-centric brand, based on the experience your patients and their HCPs want and need....
How Medisafe is using AI to improve patient adherence
Dina Patel speaks to Omri Shor, Co-Founder and CEO of Medisafe, to find out how his medication management app is tackling the problem of poor adherence....

Infographics