Monday, January 26, 2009
So Pfizer is going to acquire Wyeth for $68 billion in cash and stock, in a deal that will, according to the Associated Press " increase its revenue by 50 percent, solidify its No. 1 rank in the troubled industry and transform it from a pure pharmaceutical company into a diversified health care giant."
At the same time, this diversified healthcare giant with $68 BILLION to blow on an acquisition is going to lay off 8,000 employees.
I'm sure the shareholders will be so proud.
Maybe I'm a dope, but on the surface, this company seems like a prime candidate for a torches-and-pitchforks assault by the masses.