Pfizer buys out Allergan for $160 bn in mega deal

  • In one of the biggest deals in the medical world, US-based global drug major Pfizer Inc announced acquiring leading Irish pharma firm Allergan plc for a whopping $160 billion. "Boards of Pfizer and Allergan have approved to merge and become a single entity under Pfizer for $160 billion in stock transaction valued at $363.63 per Allergan share," the company said in a statement here on Monday. Earlier, in a regulatory filing to the US Securities Exchange of Commission (SEC), both the entities jointly said Allergan shareholders will receive 11.3 shares of the combined firm for each of their shares and Pfizer stockholders will receive one share of the combined company for each of their shares. (Source: IANS)