Pfizer Said to Have Made Preliminary Approach to Buy Allerganby , , and
Process is at early stage, may not result in a transaction
Deal would only happen on a friendly basis, no hostile bid
The process is at an early stage and may not result in a transaction, the people said, asking not to be identified as the matter is private. Pfizer is only interested in pursuing a friendly deal and would not launch a hostile bid, one of the people said.
A spokeswoman for Pfizer declined to comment. A representative for Allergan didn’t immediately respond to requests for comment.
A deal would give Pfizer a way to move to a low-tax legal address abroad and gain valuable specialty drugs like Allergan’s Botox anti-wrinkle treatment. It would also help Pfizer meet its goal of adding more scale before splitting up into two new companies, one focused on older drugs at the end of their life-cycles, and another, faster-growing business of new brand-name drugs.
The potential transaction was first reported by the Wall Street Journal.