 "Pfizer, Wyeth hit new high ahead of amalgamation")
Shares of drug majors Pfizer and Wyeth have rallied over 6% each at Rs 2,089 and Rs 1,396, respectively on the bourses ahead of amalgamation.
Pfizer hit a high of Rs 2,120 and Wyeth touched Rs 1,410, also their respective all-time high on the National Stock Exchange (NSE).
The board of directors of Pfizer has fixed December 11, 2014 as the "Record Date" to determine the name of equity shareholders of Wyeth who shall be entitled to receive shares of the company pursuant to the amalgamation of Wyeth with the Company. The stock will turn ex-amalgamation on December 10, 2014.
In November 2013, the boards of Pfizer India and Wyeth India approved a swap ratio, which would give Wyeth shareholders seven Pfizer equity shares for every ten held.
Pfizer hit a high of Rs 2,120 and Wyeth touched Rs 1,410, also their respective all-time high on the National Stock Exchange (NSE).
The board of directors of Pfizer has fixed December 11, 2014 as the "Record Date" to determine the name of equity shareholders of Wyeth who shall be entitled to receive shares of the company pursuant to the amalgamation of Wyeth with the Company. The stock will turn ex-amalgamation on December 10, 2014.
In November 2013, the boards of Pfizer India and Wyeth India approved a swap ratio, which would give Wyeth shareholders seven Pfizer equity shares for every ten held.