$60 billion acquisition Pfizer Inc, Pharmacia Corporation, Bear Stearns & Co Inc, Goldman Sachs Group Inc, Lazard LLC
Pfizer Inc and Pharmacia Corporation have merged in a stock-for-stock transaction. Pfizer exchanged 1.4 shares of its common stock for each outstanding share of Pharmacia stock in a tax-free transaction valued at $45.08 per Pharmacia share. Consequently, Pfizer’s shareholders own 77% of the combined company with Pharmacia’s shareholders holding the remaining 23%.
Value: $60 billion
Announced: July 15 2002
Closed: April 16 2003
Parties involved |
Legal advisers |
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Pfizer Inc (Pharmaceuticals & Biotechnology) Acquirer |
Arnold & Porter LLP
- Washington DC
Bill Baer Michael Sohn Cathy A Hoffman Jonathan Gleklen Cadwalader Wickersham & Taft LLP - New York NY Dennis J Block Linda Z Swartz Kenneth A Freeling Louis J Bevilacqua Jones Day - Washington DC Joseph Iannucci Raymond J Wiacek Lester W Droller Linklaters Advokatbyrå AB - Stockholm Erik Nerpin Svante Johansson Jörgen Axelsson Lars Jonsson |
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Pharmacia Corporation (Pharmaceuticals) Target |
Mannheimer Swartling
- Stockholm
Tom Hård Anne Rutberg Sullivan & Cromwell LLP - New York NY Keith A Pagnani |
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Bear Stearns & Co Inc (Speciality & Other Finance) Financial adviser to acquirer |
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Goldman Sachs Group Inc (Speciality & Other Finance) Financial adviser to target |
Skadden Arps Slate Meagher & Flom LLP
- New York NY
Roger S Aaron Stephen M Banker Thomas W Greenberg |
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Lazard LLC (Speciality & Other Finance) Financial adviser to acquirer |
