Barclays Downgrades Medivation (MDVN) to Equalweight

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Pfizer (PFE) to Acquire Medivation (MDVN) in $14B Deal

August 22, 2016 6:45 AM EDT

Pfizer Inc. (NYSE: PFE) and Medivation, Inc. (Nasdaq: MDVN) announced that they have entered into a definitive merger agreement under which Pfizer will acquire Medivation, a biopharmaceutical company focused on developing and commercializing small molecules for oncology, for $81.50 a share in cash for a total enterprise value of approximately $14 billion. The Boards of Directors of both companies have unanimously approved the merger, which is expected to be immediately accretive to Pfizers Adjusted Diluted EPS upon closing, approximately $0.05 accretive in the first full year after close with... More