NEW YORK (AP) - Drug maker Pfizer Inc. said it acquired about 87 percent of
Encysive Pharmaceuticals Inc. in its tender offer to shareholders that closed
Monday.
The company's offer to buy outstanding shares for $2.35 apiece valued
Encysive at $195 million. Encysive shares lost a penny to $2.34 in morning
trading.
Pfizer also announced a subsequent offering period to acquire all of the
remaining untendered shares at the same price. The offer expires at 5:00 p.m.
EDT on Friday.
Pfizer bought the biopharmaceutical company to strengthen its product
portfolio for treating high blood pressure.
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