View Cart (0 items)

Pfizer offers to boost stake in Indian arm

April 13, 2009
/ Print / Reprints /
| Share More
/ Text Size+
U.S. drug maker Pfizer Inc. has offered to pay about $136 million to boost its stake in its Indian arm Pfizer Ltd, Profile, Research, to 75-percent, according to Reuters. Pfizer will launch a tender offer to buy a 33.77 percent stake in the Indian business at a price of 675 rupees per share. The offer represents a premium of more than 8 percent to the April 9 closing price for Pfizer Ltd. Pfizer already owns 41.23 percent of the Indian company. It expects the offer, which is subject to regulatory approvals, to open in June.
You must login or register in order to post a comment.

Related Events