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Article: Pfizer Continues Buyout Trend, Paying $1.9B To Take Vicuron.
- Article from:
- BIOWORLD Today
- Article date:
- November 3, 2009
CopyrightCOPYRIGHT 2009 A Thomson Healthcare Company. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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West Coast Editor
Vicuron Pharmaceuticals Inc.'s stock value skyrocketed on news that the firm has become the latest takeover target for Pfizer Inc., which made public its plan to buy the company for $29.10 per share, or about $1.9 billion - a 74-whopping-percent premium over the firm's 90-day average closing price and 21 percent higher than the highest historical closing price.
Shares (NASDAQ:MICU) of King of Prussia, Pa.-based Vicuron ended Thursday at $28.21, up $12.41, or 78.5 percent.
"We had pegged it as a takeover candidate, but we always thought Gilead would come in," said Edward Nash, analyst with Legg Mason Wood Walker in New York, ...