O.K., so a megadeal finally makes the front page. At the risk of sounding bearish at the party—it’s great to see a $60 billion price tag attached to an M&A announcement, but the market is still the same market. This morning, The Wall Street Journal announced pharmaceutical giant, $200 billion market cap Pfizer Inc. plans to get even bigger and buy Pharmacia Corp. for $60 billion in stock. Pfizer, clearly having already tipped its M&A hand, will likely officially announce the transaction later today.
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