US pharmaceutical giant Pfizer has confirmed its takeover of Medivation, for an agreed price of $14 billion.
Pfizer will pay $81.50 per share for Medivation, 21 percent above the firm’s share price as of last Friday and above the $80 expected in previous reports.
Ian Read, chairman and chief executive officer of Pfizer, commented on the announcement:
“The proposed acquisition of Medivation is expected to immediately accelerate revenue growth and drive overall earnings growth potential for Pfizer.
22/08/2016
