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Anacor shares soar 57% on $5.2B Pfizer acquisition

May 17, 2016

Via: CNBC
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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.

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