People & Business :: M&A
Pfizer to Acquire King Pharmaceuticals for $3.6 Billion
1:06 AM MDT | October 13, 2010 | Deepti Ramesh
Pfizer says it has entered into a definitive agreement to acquire specialty pharmaceutical company King Pharmaceuticals (Bristol, TN) for $3.6 billion in cash, or $14.25/share, which represents a premium of about 40% to King's closing price on October 11. The acquisition is expected to be completed in the fourth quarter of 2010 or the first quarter of 2011. The acquisition will expand Pfizer's business profile, providing incremental diversified revenues generated by King's portfolio, including a prescription pharmaceutical business focused on formulations of pain...
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