Pfizer completes $68B acquisition of Wyeth

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Pfizer has completed its acquisition of Wyeth following the receipt of regulatory approval from all government authorities required by the merger agreement and approval by Wyeth shareholders.

Under the terms of the transaction, each outstanding share of Wyeth common stock has been converted into the right to receive $33 in cash (without interest) and 0.985 of a share of Pfizer common stock, totaling $68 billion. Effective as of the close of trading on Oct. 15, Wyeth’s common stock ceased trading.

The New York City-based Pfizer and Wyeth will began joint operations Oct. 16. However, the company noted that the merger of local Pfizer and Wyeth entities may be pending in various jurisdictions and integration is subject to completion of various local legal and regulatory obligations.