http://www.bloomberg.com/news/articles/2015-11-22/pfizer-allergan-said-to-be-close-to-150-billion-merger
Pfizer Inc. and Allergan Plc may announce an agreement as early as Monday to combine into a single new company, according to a person familiar with the matter. The deal, valued at more than $150 billion, would be the largest one ever in the rapidly consolidating pharmaceutical industry.
The boards of the companies are expected to sign off on the accord Sunday, said the person, who asked not to be named because the discussions are private.
Pfizer will give 11.3 shares for each Allergan share, said the person. The deal is structured so that Allergan is technically buying its much larger partner, a move that may make it easier for the company to locate its tax address in a lower-cost country. Based on Friday’s closing price of a Pfizer share, the agreement gives investors a premium of about 27 percent above Allergan’s stock price on Oct. 28, before news of the companies’ discussions became public. Pfizer shareholders will get a small cash amount, the person said.
Pfizer Chief Executive Officer Ian Read will be the head of the new company, with Allergan CEO Brent Saunders in a high position, the person said...
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