Pfizer completes cash-and-stock acquisition of Wyeth

By Lisa Kerner

Charlotte, N.C., Oct. 15 - Pfizer Inc. has completed its acquisition of Wyeth, according to a form 8-K filed with the Securities and Exchange Commission.

The pharmaceutical giants agreed in January 2009 to combine in a cash-and-stock deal valued at $50.19 per share, or a total of approximately $68 billion.

Wyeth announced in July that its stockholders overwhelmingly approved the merger agreement that gives them $33 per share in cash plus 0.985 of a share of Pfizer common stock for each Wyeth share held.

On Wednesday, the Federal Trade Commission granted early termination of the Hart-Scott-Rodino waiting period in connection with the merger.

Pfizer said previously that while the proposed merger had received approval from the European Commission, Pfizer would divest a number of businesses in several national markets as well as Wyeth's manufacturing facility in Sligo, Ireland, to ease the commission's competition concerns.

Wyeth, located in Madison, N.J., has become a wholly owned subsidiary of New York-based Pfizer.

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