Years before $43B Pfizer deal, a mystery company made six proposals for Seagen
Before Seagen’s $43 billion deal to be acquired by Pfizer last month, the biotech company had received takeover offers going back to at least 2019, according to a new filing that provides a play-by-play look at one of the biggest M&A deals in recent industry history.
The lead-up to the $43 billion merger was filled with multiple attempts by one drugmaker to buy Seagen, an effort that ultimately fell apart over price and that was punctuated by the arrest of the biotech’s then-CEO Clay Siegall on allegations that he assaulted his wife. And after Siegall’s ouster, the filing details a contest between rival drugmakers — one of which appears to be Merck — that ultimately ended with Pfizer winning the deal.
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