Pfizer will acquire for $6,7 billion Arena Pharmaceuticals, a California-based biopharmaceutical company. The American giant announced it today, explaining that it had recently signed the agreement for the transaction.
Under the terms of the settlement, Pfizer will pay $ 100 per share, price incorporating a premium of 100,2% compliance to the value of the Arena share at the close of the market last Friday. The operation should be financed exclusively in cash.
In the pre-market Pfizer rises by 1,2%: however, it is not so much the news of the acquisition that pushes the stock, but an Israeli study that the booster dose of Pfizer's Covid vaccine provides strong protection against the Omicron variant.
As for the title of Arena PharmaceuticalsPredictably following the announcement, it rallied 91,2% to $95,49, approaching the price stipulated in the sale agreement.
At the end of November another pharmaceutical giant, Switzerland Novartis, had announced a maxi-acquisition: 9,7 billion dollars for the American The Medicine Company, manufacturer of a major cholesterol-lowering drug.
