Encysive Pharmaceuticals becomes wholly owned subsidiary of Pfizer

By Lisa Kerner

Charlotte, N.C., June 10 - Pfizer Inc. said it acquired all the remaining outstanding shares of common stock of Encysive Pharmaceuticals Inc. through a merger of Pfizer's wholly owned subsidiary, Explorer Acquisition Corp., with and into Encysive.

Each share of Encysive's outstanding common stock was cancelled and converted into the right to receive $2.35 per share in cash, without interest.

Paying agent is Computershare Trust Co., NA.

Encysive, a Houston biopharmaceutical company, is now a wholly owned subsidiary of Pfizer, a Pfizer news release stated.

In April, Explorer Acquisition acquired 85.33% of the outstanding Encysive shares in a $2.35-per-share cash tender offer.

On Feb. 20, Pfizer, a New York pharmaceutical company, announced an agreement to acquire Encysive for $2.35 per share in a cash tender offer with an equity value of $195 million.

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