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  • Report: Pfizer, Wyeth agree to deal ($68B)

    01/25/2009 11:10:34 PM PST · by STARWISE · 5 replies · 672+ views
    UPI ^ | 1-26-09
    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...