Monday, May 16, 2016

Pfizer to Buy Anacor for $4.5 Billion

Pfizer Inc. said Monday it would buy Anacor Pharmaceuticals Inc. in an all-cash deal worth about $4.5 billion, as it turns to smaller deals after walking away from its scuttled acquisition of Allergan PLC.
Pfizer will pay $99.25 a share for Anacor, a 55% premium to Friday’s closing price. The companies said the deal, including debt, is valued at $5.2 billion.

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