Hospira Shareholders Approve Merger of Hospira and Pfizer at Special Meeting
Subject to certain closing conditions, Pfizer will acquire Hospira for $90 per share.
LAKE FOREST, Ill., May 13, 2015 /PRNewswire/ -- Hospira, Inc. (NYSE: HSP), the world's leading provider of injectable drugs and infusion technologies, and a global leader in biosimilars, announced that Hospira shareholders voted in favor of the proposal to adopt the merger agreement with Pfizer Inc. at a special meeting of stockholders held today, May 13, 2015, in Denver, Colo.
On Feb. 5, 2015, Hospira and Pfizer Inc. announced they had entered into a merger agreement under which Pfizer will acquire Hospira for $90 per share in cash for a total enterprise value of approximately $17 billion. The merger is subject to customary closing conditions, one of which was approval of the merger by Hospira's shareholders. Additional closing conditions to be met include obtaining regulatory approvals in several jurisdictions.
At the Special Meeting today, 140.8 million shares were voted in favor of the merger agreement, or 99.4 percent of shares voted for the merger proposal and approximately 81.5 percent of Hospira's outstanding shares.
Hospira and Pfizer continue to expect the merger to close in the second half of 2015.