Icagen plummets on Pfizer $6 per share takeover
This article was originally published in Scrip
Icagen investors lashed out in morning trading on 20 July, forcing shares of the firm down 23.2%, after Pfizer, which owns 11% of the Research Triangle Park, North Carolina-based biotech, said it was acquiring the remaining 8.3 million shares for $6 per share – a 23% discount from the shares' 19 July closing price.
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