On Friday, Shares of Pfizer Inc. (NYSE:PFE), added 1.65% and closed at $33.87 in the last trading session. The last trading range of the stock ranges between $33.40 and $34.02. Pfizer Inc. (PFE) recently declared the successful completion of its acquisition of Medivation, Inc.(MDVN). As of the tender offer expiration, 115,574,041 shares of Medivation common stock were validly tendered, representing about 69.1% of the shares outstanding and have been accepted for payment under the terms of the tender offer for $81.50 per share in cash, without interest, subject to any required withholding of taxes. In addition, notices of guaranteed delivery have been delivered for 17,659,861 shares of Medivation common stock, representing about 10.6% of the shares outstanding. Following its acceptance of the tendered shares, Pfizer accomplished its acquisition of Medivation through a second-step merger. Pfizer and its wholly-owned partner accepted for payment and will promptly pay for all shares validly tendered and not validly withdrawn.
“Pfizer and Medivation are now one unified team combining research and resources to combat cancer. This acquisition represents a rare opportunity to expand our business offering with an attractive pipeline and with XTANDI, an important medicine for men with prostate cancer. We welcome our new Medivation colleagues to the team and look forward to continuing the successful partnership with Astellas for XTANDI,” said Albert Bourla, group president, Pfizer Innovative Health. “Given the breadth of Pfizer’s existing oncology portfolio and emerging immuno-oncology pipeline, Medivation’s assets will potentially benefit from many novel and productive combinations. Together, we are well positioned to becoming a leading oncology company, speeding cures and making accessible breakthrough medicines to patients – our number one priority.”
Freeport-McMoRan Inc (NYSE:FCX), jumped 1.59% and closed at $10.86 in the last trading session. The last trading range of the stock ranges between $10.80 and $11.11. The company’s Market capitalization is $14.65 Billion with the total Outstanding Shares of 1.35 Billion. Freeport-McMoRan Inc. (FCX) declared recently the expiration of the formerly declared consent solicitations by it and its wholly owned auxiliaries, Freeport-McMoRan Oil & Gas LLC (FM O&G) and FCX Oil & Gas Inc. (FCX O&G). The consent solicitations expired at 5:00 p.m., New York City time, on September 28, 2016. As of the expiration time, FCX, FM O&G and FCX O&G had not received the consent of holders of at least a majority in aggregate principal amount outstanding of each series of notes subject to the consent solicitations. As a result, no consent fees will be paid and FCX plans to merge FM O&G into FCX before concluding its formerly declared Deepwater Gulf of Mexico sale transaction.
FCX is a premier U.S.-based natural resources company with an industry-leading global portfolio of mineral assets. FCX is the world’s leading publicly traded copper producer.
FCX’s portfolio of assets includes the Grasberg minerals district in Indonesia, one of the world’s leading copper and gold deposits; noteworthymining operations in the Americas, counting the large-scale Morenci minerals district in North America and the Cerro Verde operation in South America. Additional information about FCX is available on FCX’s website.