Cadwalader Reps Pfizer In $3.6B King Pharma Buy

Law360, New York (October 12, 2010, 1:32 PM EDT) -- Pfizer Inc. has agreed to acquire King Pharmaceuticals Inc. for $3.6 billion in cash, expanding Pfizer's presence in the paid medication business.

The companies announced the deal in a joint statement Tuesday, which stated that Pfizer will pay $14.25 per share for King, a 40 percent premium on King's Monday closing price. The deal had the approval of the boards of both companies, the statement said.

The deal is the largest for Pfizer since its $68 billion acquisition of Wyeth Inc. was cleared by the Federal...
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