FTC seeks more information on Pfizer's acquisition of Wyeth

NEW YORK Pfizer on Friday announced that it has received a request for additional information from the Federal Trade Commission with respect to its previously announced proposed acquisition of Wyeth.

The request for information from the FTC, often referred to as a “second request,” was anticipated as part of the regulatory process under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, Pfizer stated.

Pfizer intends to respond expeditiously to this request and continue to work cooperatively with the FTC in connection with its review. Completion of the transaction remains subject to the expiration of the waiting period under the HSR Act, governmental and regulatory approvals in certain other jurisdictions, approval by the stockholders of Wyeth, the satisfaction of certain conditions related to the debt financing for the transaction, and other usual and customary closing conditions.

Pfizer and Wyeth continue to expect the transaction to close at the end of the third quarter or during the fourth quarter of 2009.