Pfizer, Allergan Said to Aim to Agree on Deal by Thanksgiving

[anonymous]

Pfizer, Allergan Said to Aim to Agree on Deal by Thanksgiving
Offer will be structured with enough stock to be an inversion

• Allergan wants more than $350 per share, no price yet decided

Pfizer Inc. and Allergan Plc are making progress on the year’s biggest acquisition and are working toward agreeing on a deal as early as next month, people with knowledge of the matter said.

The drugmakers are keen on a friendly deal and hope to agree on the terms of the takeover, including who will lead the combined company, by Thanksgiving, the people said, asking not to be identified as the discussions are private. While Pfizer is lining up banks to finance a deal, any offer would contain enough shares to allow the company to shift its base to Allergan’s lower-taxed Irish domicile, the people said.

So far Pfizer has not made a specific price offer to Allergan, whose shares traded up another $4.09 on Friday to close at $308.47. Allergan is expecting to get more than $350 a share from Pfizer, though talks have not yet gotten into specifics, one person close to the target company said. No final details have been agreed, and the deal may still fall apart, the people said.


Pfizer also sees the deal as a way to accelerate the break up of the company and may pursue a sale of its generics business as part of the agreement, said the people. Doing so would follow Allergan’s lead, after the company agreed in July to sell its generic-drug business to Israeli rival Teva Pharmaceuticals Industries Ltd. for about $40.5 billion.

Investors and analysts have expected Pfizer would try to break up if it were able to complete an inversion deal that lowered its tax rate.

A spokeswoman for Pfizer declined to comment beyond the company’s statement from Thursday. A spokesman for Allergan declined to comment.

The largest U.S. drugmaker said Thursday it’s in “preliminary friendly discussions” about combining with Allergan, which had a market value of $113 billion the day before the talks were announced. Buying Allergan would give Pfizer a low-tax legal address abroad and valuable drugs like the Botox anti-wrinkle treatment.

 

[anonymous]

I would bet AGN get $380 Per share, and that's still cheap. They should have paid up for AZ but they didn't and now they need AGN bad!! and at the $340 per stock peak we had a few months ago they would have had to pay the 30% on top of that and give over $400 per share, so this is right where they wanted to be. Pfizer sold their generics business and didn't want another generics issue, so here came the sale to Teva. The shit's in the deal is the lies BS tells to the field, 99.99 % we will not sell to Pfizer, he said that on stage just a few months back in Q1, lied through his damn teeth, this was planned long ago and the divesting of certain products and the generics was the necessary link in the chain to get it done. Will BS be the CEO? Who the hell cares, but there is a chance unless they pay him enough to move on and he is going to get paid big time for this one, not that he hasn't already in the other mergers. There will be massive layoffs, and Pfizer has been trying to build a derm division with Xeljanz for plaque psoriasis, I know this first hand because I interviewed and then they said they were thinking of not moving forward with a derm team or at least not the PP indication for Xeljanz. Who knows that may be whats in the bag next for Derm, Aczone 7.5 and Xeljanz while we keep dragging along Tazorac till the very end. There is a ton of overlap so nobody is safe, and never will be for that matter. Bloated over valued company will catch up at some point.