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Pfizer to acquire King Pharmaceuticals
NEW YORK Pfizer will buy King Pharmaceuticals for $3.6 billion, Pfizer said Tuesday.
The world’s largest drug maker announced that it had agreed to acquire Bristol, Tenn.-based King for $14.25 per share, which it said was a 40% premium over the Monday closing price of King’s stock.
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Genzyme again rejects Sanofi buyout offer
CAMBRIDGE, Mass. The board of directors of Genzyme again has rejected a buyout offer by French drug maker Sanofi-Aventis, Genzyme said Thursday.
The biotech company’s board unanimously turned down the hostile offer Sanofi made Monday to acquire Genzyme for $18.5 billion, or $69 per share, saying it was “opportunistic” and undervalued the company.