Albert Bourla (AP Images)

Se­duc­ing Pfiz­er: How Ar­ray’s team pa­tient­ly worked up the lad­der to win an $11.4B bid from Al­bert Bourla

Ar­ray Bio­Phar­ma CEO Ron Squar­er and his top team spent well over 2 years scout­ing for some­one to buy the com­pa­ny. And at the end of that lengthy search process a few days ago, the CEO placed the com­pa­ny in Pfiz­er’s hands for $11.4 bil­lion and will now walk away from his sales ef­fort with a for­tune worth $124.7 mil­lion for stock and $85.2 mil­lion to cov­er the gold­en para­chute.

But it wasn’t easy.

It start­ed on Jan­u­ary 23, 2017, ac­cord­ing to a new SEC fil­ing, when the com­pa­ny brought in Cen­ter­view Part­ners to be­gin the mon­ey hunt. They soon reached out to 4 like­ly buy­ers, in­clud­ing Pfiz­er, but nev­er got any­thing start­ed.

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