NEW YORK & DUBLIN, Nov 30 (Bernama) -- Pfizer Inc. (NYSE:PFE) and
Allergan plc (NYSE:AGN) today announced that their boards of directors
have unanimously approved, and the companies have entered into, a
definitive merger agreement under which Pfizer, a global innovative
biopharmaceutical company, will combine with Allergan, a global
pharmaceutical company and a leader in a new industry model - Growth
Pharma, in a stock transaction currently valued at $363.63 per Allergan
share, for a total enterprise value of approximately $160 billion, based
on the closing price of Pfizer common stock of $32.18 on November 20,
2015. The transaction represents more than a 30 percent premium based on
Pfizer's and Allergan's unaffected share prices as of October 28, 2015.
Allergan shareholders will receive 11.3 shares of the combined company
for each of their Allergan shares, and Pfizer stockholders will receive
one share of the combined company for each of their Pfizer shares.
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