Pfizer completes cash tender offer for Coley Pharmaceutical Group |
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Mon, 31 Dec 2007 14:10
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BOSTON (Thomson Financial) - Pfizer Inc. Monday said it has completed a cash tender offer to purchase all of the outstanding shares of Coley Pharmaceutical Group Inc., a Wellesley, Mass.-based biopharmaceutical company.Pfizer said a total of 24,050,054 shares of Coley common stock were validly tendered, including 661,444 shares subject to guaranteed delivery procedures.Pfizer said it has accepted for payment all validly tendered shares through its indirect wholly-owned subsidiary, Corvette Acquisition Corp. The shares accepted for payment, together with the shares previously owned by Corvette Acquisition Corp., represent about 92.2% of Coley's outstanding common stock.Pfizer said it expects to close the Coley acquisition in the next several days.Shares of New York-based Pfizer closed Friday at $22.90, while shares of Coley Pharmaceutical Group closed at $7.98.Casey Logancl/pcCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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Pfizer cleared to buy Coley Pharma 