Pfizer: completes acquisition of Array BioPharma
(CercleFinance.com) - US biopharmaceutical giant Pfizer said on Tuesday that it has completed the 10.
6 billion dollar acquisition of Array BioPharma after its tender offer expired yesterday.
The drugmaker said that 171.9 million of Array's common shares were validly tendered during the offer, representing approximately 77% of the firm's total share capital.
Pfizer expects the deal to have a 4 cent dilutive effect on its EPS in 2019, followed by 5 cents in 2020, then a neutral impact in 2021 before finally being accretive from 2022.
The shares of Pfizer were down over 5% after the statement.
Array - whose operations will remain in Cambridge, Massachusetts, as well as in North Carolina and Colorado - will become part of Pfizer's oncology research and development division.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
6 billion dollar acquisition of Array BioPharma after its tender offer expired yesterday.
The drugmaker said that 171.9 million of Array's common shares were validly tendered during the offer, representing approximately 77% of the firm's total share capital.
Pfizer expects the deal to have a 4 cent dilutive effect on its EPS in 2019, followed by 5 cents in 2020, then a neutral impact in 2021 before finally being accretive from 2022.
The shares of Pfizer were down over 5% after the statement.
Array - whose operations will remain in Cambridge, Massachusetts, as well as in North Carolina and Colorado - will become part of Pfizer's oncology research and development division.
Copyright (c) 2019 CercleFinance.com. All rights reserved.