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Hospira shareholders approve $17 billion merger with Pfizer

Staff writer |
Hospira shareholders voted in favor of the proposal to adopt the merger agreement with Pfizer at a special meeting of stockholders held in Denver, Colorado.

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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.

The merger is expected to be accretive by $0.10 - $0.12 per share for the first full year following the close of the transaction with additional accretion anticipated thereafter.

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