Pfizer’s whopper cheers rivals
US drugs company Pfizer has secured a $22.5bn one year bridge facility to fund its takeover of Wyeth. The move should provide encouragement to syndicated loan markets globally, all of which are suffering from capital constrained lenders. Roche will also have noted the deal, given that it has been in talks with banks for months about funding for its $44bn bid for the part of Genentech it does not yet own.
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