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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| King Pharmaceuticals, Inc. | NYSE:KG | NYSE | Ordinary Share |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 14.24 | 0.00 | 00:00:00 |
From Dec 2019 to Dec 2024
Pfizer Inc. (PFE) again pushed back the expiration date of its tender offer to buy King Pharmaceuticals Inc. (KG), this time by a week as it seeks to complete the $3.6-billion deal for the painkiller maker.
King shares were down 9 cents at $14.21 in recent premarket trading. Pfizer closed Thursday at $18.24 and was inactive premarket.
The offer was previously scheduled to expire at midnight Friday, and it is now slated to end at midnight Jan. 28. Terms were amended to eliminate the ability of King shareholders to tender their shares through a guaranteed delivery process.
As of the close of business on Thursday, about 115.3 million King shares had been tendered and not withdrawn. That is fewer than last month, when it stood at 116.5 million, though the percentage remains at about 46.6% of shares outstanding.
The tender offer for Tennessee-based King stands at $14.25 a share.
Pfizer in October agreed to buy King as part of its effort to make deals and enter rights agreements and collaboration ahead of looming patent expirations. Last year, Pfizer bought Wyeth for $68 billion.
-By Tess Stynes, Dow Jones Newswires; 212-416-2481; Tess.Stynes@dowjones.com
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