Pfizer enters $5 billion share buyback deal with Goldman Sachs
pharmafile | March 9, 2016 | News story | Business Services, Research and Development | Pfizer, Share buyback, Stock, markets
US drug major Pfizer (NYSE: PFE) on Wednesday said it has entered into an accelerated share repurchase agreement with Goldman, Sachs & Co to repurchase $5 billion of the company’s stock. This agreement is part of Pfizer’s existing share repurchase authorization.
Pfizer will receive about 136 million shares following the transaction on March 10, 2016. At settlement of the agreement, which is expected to occur during the second quarter of 2016, Goldman, Sachs & Co may be required to deliver additional shares of common stock to Pfizer.
Anjali Shukla
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