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Pfizer Expected to Announce Wyeth Acquisition on Monday

By Donald Zuhn, Kevin Noonan, Chris Singer, Sherri Oslick, and Jason Derry

By Donald Zuhn -- The New York Times reported this evening that Pfizer has agreed in principle to acquire Wyeth for $68 billion. The Times notes that barring an 11th-hour twist, the deal, which would be the largest in the U.S. since March 2006, will be announced tomorrow morning. According to the Times, five banks have agreed to loan Pfizer more than $25 billion to complete the deal -- despite the current financial crisis. The report also notes that four of the banks backing the deal (Goldman Sachs, JPMorgan Chase, Citigroup, and Bank of America) received federal bailout money (the...

Full post as published by Patent Docs on January 26, 2009 (boomark / email).