PFE Pfizer Inc

Pfizer Inc. (PFE) filed a Form 8K - Other Events - with the U.S Securities and Exchange Commission on February 03, 2017.

On February 2, 2017, Pfizer Inc. ("Pfizer") entered into an accelerated share repurchase agreement with Citibank N.A. ("Citibank") to repurchase $5 billion of Pfizer's common stock. Approximately 126 million of the shares to be repurchased under the transaction will be received by Pfizer on February 6, 2017.

At settlement of the agreement, which is expected to occur during or prior to the third quarter of 2017, Citibank may be required to deliver additional shares of Pfizer's common stock to Pfizer, or, under certain circumstances, Pfizer may be required to deliver shares of its common stock or may elect to make a cash payment to Citibank, with the number of shares to be delivered or the amount of such payment based on the volume-weighted average price of Pfizer's common stock during the term of the transaction.

This agreement was entered into pursuant to Pfizer's previously announced share repurchase authorization.

The press release relating to the accelerated share repurchase agreement is filed as an exhibit to this Form 8-K and is incorporated herein by reference.

The full text of this SEC filing can be retrieved at: http://www.sec.gov/Archives/edgar/data/78003/000007800317000004/n8k217.htm

Any exhibits and associated documents for this SEC filing can be retrieved at: http://www.sec.gov/Archives/edgar/data/78003/000007800317000004/0000078003-17-000004-index.htm

Public companies must file a Form 8-K, or current report, with the SEC generally within four days of any event that could materially affect a company's financial position or the value of its shares.

(END) Dow Jones Newswires

February 03, 2017 09:03 ET (14:03 GMT)

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