NEW BRUNSWICK, N.J., June 26 (UPI) -- Johnson & Johnson, which is based in New Jersey, is paying $16.6 billion in cash for the consumer healthcare business of Pfizer Inc.
The assets being acquired are personal care and over-the-counter products, such as Listerine, that had 2005 sales of $3.9 billion, Johnson and Johnson said Monday.
Pfizer said the deal, set to close by year-end, would result in about $13.5 billion in after-tax proceeds. Pfizer also said it expects that in the next 18 months it will buy as much as $17 billion of its common stock.
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LONDON, May 20 (UPI) --British investigators say they are "urgently reviewing" whether to join a European Union probe of three oil companies for alleged gasoline price-fixing.