Aug. 27, 2015, 7:38 AM
- Hospira (NYSE:HSP) has received clearance from the FTC regarding its pending merger with Perkins Holding Company, a wholly-owned subsidiary of Pfizer (NYSE:PFE).
- All required regulatory approvals have now been secured, though the merger remains conditioned upon the expiration of a post-clearance waiting period in one foreign jurisdiction.
- Hospira expects the merger to close on or about September 3, 2015.
- SEC Form 8-K
Aug. 24, 2015, 8:37 AM
- Pfizer (NYSE:PFE) says the FTC has approved its acquisition of Hospira (NYSE:HSP), pending the sale of four U.S. sterile injectable assets: Acetylcysteine, Clindamycin, Voriconazole and Melphalan.
- The deal, announced in February and now on track to close early next month, will transform PFE into a leading player in the emerging market for lower-priced versions of costly biotech drugs.
Aug. 4, 2015, 12:01 PM
- The European Commission said today that Pfizer (PFE -0.6%) offered undisclosed concessions to allay concerns over competition, apparently some days ago, in a bid to win approval for its proposed takeover of Hospira (HSP +0.1%). The EC extended its decision date from July 20 to today in order to review the concessions. No other information is provided.
- Update: The EC approves the merger contingent on Pfizer divesting certain assets. The transaction is expected to close in H2.
Feb. 6, 2015, 9:20 AM
- According to some observers, Pfizer's (NYSE:PFE) $17B takeout of Hospira (NYSE:HSP) is only a prelude to a bigger deal(s) considering that it was prepared to spend $120B for AstraZeneca (NYSE:AZN).
- According to Gabelli analyst Kevin Kedra, Actavis Plc (NYSE:ACT) is an attractive target, especially since nabbing Allergan (NYSE:AGN) and its fast-growing drug portfolio. A Pfizer takeover would be big enough to overcome the U.S. Treasury's stricter rules on inversions and lower its tax bill.
- John Boris of SunTrust Banks says GlaxoSmithKline (NYSE:GSK), AbbVie (NYSE:ABBV), Bristol-Myers Squibb (NYSE:BMY) and Mylan (NASDAQ:MYL) may be on the radar as well.
- Pfizer had $33B in cash at the end of September which it will use a portion of plus debt to pay for Hospira.
Feb. 5, 2015, 7:22 AM
Feb. 5, 2015, 7:05 AM| Feb. 5, 2015, 7:05 AM | 6 Comments
Jul. 27, 2014, 9:34 PM
- Hospira (NYSE:HSP) has emerged as a bidder for Danone's (OTCQX:DANOY) medical-nutrition unit in what could be about a $5B deal, reports the FT. A purchase could allow the Illinois-based Hospira to move its domicile abroad for tax purposes.
- Hospira's 25% rally YTD is a boon since to qualify for an inversion owners of the acquired company must receive at least 20% of the merged company's stock, meaning Hospira - currently valued at $8.6B - would have to fund a sizable portion of the deal with its shares.
- Previously, European consumer outfits like Nestle and Fresenius had been reported as prospective bidders for the Danone business, but it's unclear if either continues to have interest.
- Previously: Report: Danone looking to sell medical nutrition business to Nestle
Dec. 2, 2011, 11:35 AM
Speculation that Hospira (HSP -2.3%) shares have become so cheap in the face of scrutiny for flaws in its manufacturing practices that the company may become a takeover target isn't helping the stock today. A potential FDA consent decree over alleged safety violations at one plant would slow production and perhaps even lead to a complete shutdown of the facility.| Dec. 2, 2011, 11:35 AM