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news.Pfizer has completed the acquisition of all remaining outstanding shares of common stock of Encysive Pharmaceuticals through a merger of Pfizer's wholly-owned subsidiary, Explorer Acquisition, with and into Encysive. Encysive is now a wholly-owned subsidiary of Pfizer.
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In the merger, each share of Encysive’s outstanding common stock was cancelled and (except for shares held by Encysive, Pfizer or by their wholly-owned subsidiaries or by holders who properly exercised their appraisal rights under Delaware law) converted into the right to receive $2.35 per share in cash, without interest and less any required withholding taxes.
Prior to the merger, Explorer Acquisition acquired approximately 85.33% of the outstanding Encysive shares by tender offer.