Case Details for "Wyeth and Pfizer "

Pfizer Inc. (PFE) and Wyeth (WYE) agree to settle shareholder lawsuits over merger

In a regulatory filing, Wyeth said lawsuits seeking class-action status were filed in the Delaware Court of Chancery and in federal and state court in New Jersey against Wyeth and members of its board of directors. The suits sought to invalidate Wyeth's January agreement to be acquired by Pfizer in a cash-and-stock deal then valued at about $68 billion.

In June, Wyeth and Pfizer reached an agreement in principle to settle the Delaware case, agreeing to include additional details about the deal in regulatory filings.The deal is expected to close late in the third quarter or in the fourth quarter. The settlement is subject to approval by the Delaware Court of Chancery and other conditions.

Posted on:2009-08-06
Company: Wyeth and Pfizer
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Scope: Nationwide
Type of Case: Securities
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