It looks like the purchase is ready to go and from reports on the internet over the weekend, there was a rush to have the inking done before the opening on Wall Street Monday morning. Scott Hensley of the Wall Street Journal Health Blog is scheduled to report first thing tomorrow am on Fox News for all the official information. You can also view the video on the subject done a couple days ago with Scott discussing the anticipated changes/benefits.
The banks do not appear to have issues with loaning money on this move at present, some are the same ones who received bail outs that are involved in the loan. The Wyeth CEO is anticipating to leave and we all know what happens with mergers and consolidation efforts, more jobs lost, which happens even in good times. Pfizer and Wyeth both have very significant offshore subsidiaries that hold a substantial amount of cash, one thing Pfizer has quite a bit of, cash. BD
Looks like Wyeth will become the latest drugmaker to be swallowed by Pfizer.
The WSJ reports that Pfizer has lined up $22.5 billion in financing to support a $68 billion buyout of Wyeth that could be announced before the market opens Monday.
If the price holds, the Wyeth deal would edge out the $60 billionish takeout of Aventis that created Sanofi-Aventis in 2004 to make Pfizer’s latest purchase the largest in the industry since the end of 2000, when Glaxo bought SmithKlineBeecham for about $76 billion.