QualityStocks.net News – Pfizer Inc. (PFE) Announces 70 Million Encysive (ENCY) Shares Tendered

We would like to highlight Pfizer, Inc. (NYSE: PFE). The company discovers, develops, manufactures and markets prescription medicines for humans and animals. It operates in two business segments: Pharmaceutical and Animal Health. The Company also operates several other businesses, including the manufacture of gelatin capsules, contract manufacturing and bulk pharmaceutical chemicals.

In the Company’s news today,

Pfizer Inc. announced results of its tender offer by its wholly-owned subsidiary, Explorer Acquisition Corp., to purchase all outstanding shares of common stock of Encysive Pharmaceuticals Inc. (NASDAQ: ENCY) at a purchase price of $2.35 per share.

Pfizer announced that a total of 70,238,869 shares, approximately 86.8 percent of the outstanding shares, including 8,473,574 shares subject to guarantees of delivery, were tendered and not withdrawn prior to the expiration of the initial offering period March 31, 2008, expired April 3, 2008. As of April 1, 2008, Pfizer beneficially owned approximately 64,128,679 shares, which is about 79.22 percent of the outstanding shares.

Pfizer also announced that Explorer Acquisition launched an additional offering period to acquire all the remaining untendered shares that will expire at 5:00 p.m., April 7, 2008, unless extended. During this offering period, Encysive shareholders with common stock who did not previously tender their shares may do so.

Pfizer engages in the discovery, development, manufacture and marketing of prescription drugs for humans and animals around the world. The company is also involved in contract manufacturing and bulk pharmaceutical chemicals and businesses. The company is widely known for Lipitor, its cholesterol combatant; Caduet, for cardiovascular issues; Aricept, for Alzheimer’s disease; Zoloft for various disorders; Celebrex, for arthritis, inflammation and acute pain; and many more.

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