Pfizer Subsidiary to Take Over Local Affiliate Wyeth in India
Pfizer Inc. (NYSE:PFE): Current price $32.42
On Saturday, it was announced that the Indian division of Pfizer Inc., Pfizer Ltd., will take over local affiliate Wyeth Ltd, after their boards okayed the deal. Wyeth shareholders of will get 7 Pfizer Ltd. shares for every 10 shares they hold, which requires the issuance of about 15.9 million new Wyeth shares. The latter has a market capitalization of some $294 million and is already 51.12-percent owned by Pfizer Inc., which in turn owns 63.57 percent of Pfizer Ltd., with its market capitalization of $681 million. The firms also said on Saturday that they would pay interim dividends of 360 rupees and 145 rupees per share respectively.
Qualcomm Inc. (NASDAQ:QCOM): Current price $71.98
On Monday, Qualcomm said that China’s price regulator, the National Development and Reform Commission, has begun an inquiry into the mobile chipmaker through the Chinese Anti-Monopoly Law. The Commission has advised Qualcomm that the substance of the investigation is confidential, according to a statement released by the firm, in which Qualcomm also said that it is unaware of any violation.
Twitter Inc. (NYSE:TWTR): Current price $39.11
Twitter shares are trading under $40 on Monday, reaching a new low, down by more than 4 percent in heavy volume. The stock fell last week, marking its first weekly loss since going public on November 7. Shares have fallen by 13 percent since opening at $45.10 in its initial public offering, but are still up over 50 percent from that price of $26.