Post by F6 on Investor Village Oct 5th 2016I totally missed this one by F6 on IV. Hope he/she doesn't mind the re-post.
Toinv
Smoke signals...or just hot air?
Looking back, it is interesting that Resverlogix, Zenith, and Pfizer-Medivation all “share” that August 22, 2016 date.
The latter announced that they cut a deal, while we had notice filed that our two proposed October AGMs were cancelled.
The timing re August 22nd could be just a coincidence and mean absolutely nothing at all - but Zenith’s Eric Campeau loved calling Zen-3694 a robust drug, didn’t he. So, the big question remains - how promising was it by mid-August 2016?
And, guess whose molecule “juiced” someone else’s drug in the lab by an astounding 60% if I remember correctly? Gotta love hearing McCaffrey talk about synergies, huh?
Throw in Resverlogix’s very positive early August update, a tepid market response to it...then that mysterious buying that seemed to suddenly come out of nowhere...and we have some smoke signals potentially still hanging in the air. Then again, it could just be smoke and nothing more, right?
Some of the info I looked at:
The deal is expected to close in the third or fourth quarter of 2016 and is subject to customary closing conditions and U.S. antitrust clearance.
https://www.wsj.com/articles/pfizer-to-buy-medivation-for-14-billion-1471864168
Mon Aug 22, 2016
Pfizer boosts cancer drug roster with $14 billion Medivation deal
Pfizer said the deal was approved by boards of both companies and should be completed in the third or fourth quarter.
Shares of other cancer drug companies, including Incyte Corp (INCY.O) and Seattle Genetics (SGEN.O), also rose on Monday, as investors speculated about more dealmaking in the sector.
Pfizer's financial advisers were Guggenheim Securities and Centerview Partners, with Ropes & Gray LLP providing legal counsel.
J.P. Morgan Securities and Evercore were Medivation's financial advisers, while Cooley LLP and Wachtell, Lipton, Rosen & Katz served as its legal advisers.
https://www.reuters.com/article/us-medivation-m-a-pfizer-idUSKCN10W0YG
Pfizer Gets U.S. Regulatory Approval For Medivation Takeover
9/23/2016 8:38 AM ET
Pfizer Inc. (PFE) announced that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended has expired with respect to Pfizer's pending acquisition of Medivation, Inc. (MDVN).
Pfizer now expects to complete the acquisition in the Third-Quarter 2016.
The closing of the tender offer remains subject to other customary closing conditions, including the tender of a majority of the outstanding shares of Medivation common stock.
Last month, Drug major Pfizer announced that it agreed to acquire Medivation, Inc. , the developer of blockbuster prostate-cancer drug Xtandi, for $81.50 a share in cash, for a total enterprise value of approximately $14 billion.
by RTT Staff Writer
For comments and feedback:
editorial@rttnews.com
https://www.rttnews.com/2695731/pfizer-gets-u-s-regulatory-approval-for-medivation-takeover.aspx
Pfizer Completes Acquisition of Medivation
Tender offer for all of the outstanding shares of Medivation common stock expired as scheduled one minute after 11:59 p.m., Eastern time, on September 27, 2016
Pfizer and Medivation begin joint operations on September 28, 2016
Combined expertise accelerates Pfizer’s leadership in Oncology, bringing much-needed new cancer treatments to patients
Expected to be immediately accretive to Pfizer’s Adjusted Diluted EPS upon closing, approximately $0.05 accretive in first full year after close with additional accretion and growth anticipated thereafter
https://www.businesswire.com/news/home/20160928005824/en/Pfizer-Completes-Acquisition-Medivation
F6