More from CNBC:
- Anacor shares soar 57% on $5.2B Pfizer acquisition
“Shares of Anacor Pharmaceuticals spiked more than 57 percent Monday after it agreed to be bought by pharma giant Pfizer. Pfizer is buying Anacor in a $5.2 billion deal to add an eczema gel to its portfolio, just a month after the U.S. drug major scrapped plans to acquire Allergan.Anacor shares surged 57 percent to $100.67 Monday, above the offer price of $99.25 per share in cash. The net-of-cash deal value assumes conversion of Anacor’s outstanding convertible notes, the companies said in a statement.
The deal dragged the healthcare sector higher, as a fund that tracks the industry saw its best day since May 9. Pfizer shares rose more than half a percent.” Full article