Pfizer (PFE) Subsidiary Extends Tender Offer for Shares of Encysive (ENCY)

April 8, 2008 8:20 AM EDT

Pfizer Inc (NYSE: PFE) announced that Explorer Acquisition Corp., a wholly-owned subsidiary of Pfizer, has extended the subsequent offering period of its tender offer for all of the outstanding shares of common stock of Encysive Pharmaceuticals Inc. (NASDAQ: ENCY) to 5:00 p.m., New York City time, on April 14, 2008.

Pursuant to the tender offer, Explorer Acquisition Corp. is offering to purchase shares of Encysive at a purchase price of $2.35 per share, net to the seller in cash, without interest thereon and less any required withholding taxes. The subsequent offering period had been previously scheduled to expire at 5:00 p.m., New York City time, on April 7, 2008. According to the depositary for the offer, a total of 67,435,726 shares (representing approximately 83.3% of the outstanding shares), had been tendered prior to such time.[SM]

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