Pfizer announces $5.2 billion acquisition of Anacor
US pharma giant Pfizer (NYSE: PFE) said today that it plans to acquire Anacor Pharmaceuticals (Nasdaq: ANAC) for $99.25 per Anacor share, in cash, for a total transaction value, net of cash, of around $5.2 billion, which assumes the conversion of Anacor’s outstanding convertible notes.
Making their first acquisition announcement since abandoning the tax-inversion directed $160 billion buy of Ireland-incorporated Allergan, the Pfizer board of directors has unanimously approved the transaction, as has the board of Anacor. Pfizer expects to complete the acquisition in the third-quarter 2016.
Pfizer’s shares dipped 0.5% to $33.03 in early trading following the announcement, while Anacor’s stock leapt 54% to $98.70 in pre-market activity.
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