Warner-Lambert gives nod to Pfizer's sweetened bid

Article Abstract:

Warner-Lambert Co has accepted the $84.4-billion hostile takeover bid of rival pharmaceutical giant Pfizer Inc. Under the deal, Pfizer will swap 2.75 shares of its stock for each Warner-Lambert share, giving Warner- Lambert a value of around $99 per share. Pfizer initially proposed an exchange ratio of 2.5. Warner-Lambert had originally agreed to a $56.3- billion merger with American Home Products Corp before Pfizer came up with its hostile bid.

$5.5B deal creates USA's No. 1 HMO

Article Abstract:

Humana is being acquired by United HealthCare in a stock swap deal worth $5.5 billion to form United HealthCare, the biggest managed-care firm in the US. The transaction is seen by analysts as beneficial to customers since they would be offered more access to services as well as greater choice of doctors and hospitals. The merged entity's expected revenue of $27 billion in 1998 will beat Cigna's estimated $22 billion and Aetna's $20 billion. The transaction, which will result to job cuts, is expected to be completed in the third quarter of 1998.

Comment:

Is acquiring Humana in a stock swap deal worth $5.5 bil to form United HealthCare, US biggest managed-care co

Organizational history, Health Care, Health Care and Social Assistance, Health, Education & Welfare, Medical care, UnitedHealth Group Inc., Humana Health Care Plans Inc., Article, United HealthCare

Pfizer wages $81B battle

Article Abstract:

Pharmaceutical giant Pfizer Inc has announced its bid to acquire rival Warner-Lambert Co for $81.3 billion. Pfizer's $95.15-per-share offer is about $10-per-share more than agreed $71-billion merger deal forged between Warner-Lambert and American Home Products Corp (AHP). Pfizer said that the hostile takeover bid was triggered by the announcement of the AHP-Warner-Lambert deal, which nullified a pre-existing agreement that prevented Pfizer from bidding for Warner-Lambert.

Pfizer Inc.