Notable Mergers and Acquisitions of the Day 1/23: PFE/WYE, FOR, VRSN
- According to the Wall Street Journal, Pfizer (NYSE: PFE) is in talks to acquire Wyeth (NYSE: WYE) in a deal that could be valued at more than $60 billion.
- Forestar Group Inc. (NYSE: FOR) received an unsolicited letter from Holland M. Ware in which he stated that he is prepared to make a cash tender offer for any and all shares at $15 per share, under certain conditions, including support of the Board of Directors for the tender offer and mutual agreement on related matters such as board representation and waiver of the Company’s Rights Agreement.
The company’s Board of Directors will consider the letter in accordance with its fiduciary responsibilities to all shareholders and respond as appropriate in due course.
- VeriSign, Inc. (NASDAQ: VRSN) and Certicom Corp. today announced they have entered into an arrangement agreement whereby VeriSign will acquire all of the outstanding common shares of Certicom for C$2.10 per share. At current exchange rates, the price is equivalent to US$1.67 per share. The aggregate purchase price is approximately C$92 million/US$73 million, or C$50 million/US$40 million, net of Certicom's existing cash and short-term marketable securities.
The agreed transaction price represents a premium of approximately 26% over the closing price of Certicom's common shares on the Toronto Stock Exchange on January 22, 2009. It also represents a premium of approximately 40% over an unsolicited takeover bid for the Common Shares, prior to its termination, by a wholly owned subsidiary of Research in Motion Limited.
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