Shares of Pfizer Ltd gained 18.18% in intra-day on BSE after the company in an exchange release announced an internal corporate restructuring plan.
Pfizer East India BV Netherlands would acquire stakes of Pfizer Corporation (31.42%) and Pfizer Investments Netherlands BV (29.52%).
While the stake of Pfizer Corporation would be bought without any consideration, the stake of Pfizer Investments Netherlands BV has been priced at Rs 1,537/share or 47.68% premium to Friday’s closing price of Rs 1,040.
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The announcement also rubbed on shares of Wyeth as the pharma player will be merged with Pfizer. The Wyeth scrip gained 15.97% intra-day on Monday.
