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Indian Units Of Pfizer Inc. (PFE) And Wyeth (WYE) To Merge


11/25/2013 7:38:47 AM

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Pfizer Ltd (PFIZ.NS), the Indian unit of U.S. drug maker Pfizer Inc (PFE.N), is to take over local affiliate Wyeth Ltd (WLED.NS), they said on Saturday after their boards approved the deal. Shareholders of Wyeth will get seven Pfizer Ltd shares for every 10 shares held, requiring the issue of approximately 15.9 million new Wyeth shares, it said. Wyeth Ltd has a market capitalization of about $294 million and is already owned 51.12 percent by Pfizer Inc, which in turn owns 63.57 percent of Pfizer Ltd, which has a market capitalization of $681 million.

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