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news.Pfizer Investments Netherlands, an indirect wholly-owned subsidiary of Pfizer, has announced that it will make a tender offer to acquire a 33.77% stake in Pfizer Limited from public shareholders at a price of INR675 per share.
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Successful completion of this offer, assuming full acceptance, would raise the indirect stake of Pfizer Inc in Pfizer Limited to 75% from the current level of 41.23%. The offer will represent a total value of approximately $136 million.
The offer will be made at a premium of 8.6% to the closing share price of INR621.55 of Pfizer Limited on April 9, 2009, on the National Stock Exchange, which was the last trading day before the announcement of the tender offer.