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These ETFs should love the Pfizer-Allergan news
In what could amount to the biggest takeover of a U.S. company in over a year, Dow component Pfizer Inc. (NYSE: PFE) is reportedly mulling an acquisition of specialty pharmaceuticals maker Allergan Plc (NYSE: AGN).
"Pfizer recently approached Allergan about a deal, according to people familiar with the matter, with one of them adding that the process is early and may not yield an agreement. Other details of the talks are unclear," reports The Wall Street Journal.
Allergan closed with a market value of about $113 billion on Wednesday. Pfizer's market value at Wednesday's close was nearly double that. New York-based Pfizer had nearly$30.3 billion in cash on hand at the end of the second quarter.
As is par for the course with healthcare sector deal-making, a batch of exchange traded funds stand to benefit, particularly if ...
Full story available on Benzinga.com
Photo: e-Magine Art