ICU Medical to buy Pfizer's infusion therapy business

ICU Medical to buy Pfizer's infusion therapy business
 

Medical device maker ICU Medical Inc (ICUI.O) said it would buy Pfizer Inc's (PFE.N) global infusion therapy business, Hospira Infusion Systems, for $1 billion (0.79 billion pounds) in cash and stock.
ICU's shares rose about 7 percent to $135 in light premarket trading on Thursday.
Pfizer will receive $600 million in cash and nearly $400 million in newly issued shares of ICU Medical common stock, giving the drugmaker a stake of about 16.6 percent.
Pfizer will also get the right to nominate one director to ICU Medical's board as long as the company maintains a 10 percent stake. [nGNXNHHZEa]... read more

 
6 October 2016 in Business, Views: 40
Source: Reuters
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