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Pfizer launches hostile bid for Warner-Lambert
Nov 1999
Executive Summary
Shortly after Warner-Lambert announced it would merge with American Home Products, Pfizer launched a hostile bid for W-L, offering 2.5 shares of its common stock for each W-L share. Based on Pfizer's 10-day average of $39.35 the offer values Warner-Lambert at $84bn, a premium of (pr)26% to market. This is the largest hostile takeover attempt in history.
Deal Industry
-
Pharmaceuticals
- OTC, Consumer
Deal Status
- Final
Deal Type
-
Acquisition
- Full Acquisition
- Payment Includes Stock
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Pfizer launches hostile bid for Warner-Lambert
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