Posted on 01/25/2009 11:10:34 PM PST by STARWISE
The board of Pfizer Inc. (NYSE:PFE) has agreed to terms of a deal to take over Wyeth for $68 billion, The New York Times (NYSE:NYT) reported Monday.
Pfizer, the largest pharmaceutical company in the world, would acquire Wyeth for a combination of $26 billion in cash as well as loans and stock, the newspaper said, citing people involved in the negotiations.
The report said five banks have agreed to lend Pfizer $22.5 billion to finance the deal, making it the first major merger in months that has drawn the support of Wall Street.
The acquisition is expected to be announced Monday, the newspaper said.
Once completed, the merger would be the biggest since March 2006, when AT&T and BellSouth merged in a $70 billion transaction, the Times said.
(Excerpt) Read more at upi.com ...
Since that's not likely going to work, I fear that if society does break down, many people won't last long enough for their guns, gas, and grub to mean much. :-(
So this is being financed with your tax dollars. That's better than spending it on bailing out illegal aliens with $500,000 mortgages, I guess.
Make friends with techs at your local college. ;-)
No, they’re betting on the American people bailing them out in the terms of the economic stimulus bill. Look up the provisions benefitting pharmaceutical companies!! We are SO stupid!
Can’t be good for the last bastion of conservative voters in NJ. Madison, NJ is Wyeth’s Research and Corporate HQ, Pfizer just axed many thousands, Wyeth will be assimilated through redundancies in short order.
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