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December 12, 2006
RESEARCH TRIANGLE PARK, N.C.-Embrex(R), Inc., The In Ovo Company(R), (Nasdaq: EMBX) announced that a special meeting of its shareholders will be held on January 19, 2007 at 9:00 a.m. local time at its corporate headquarters at 1040 Swabia Court, Durham, North Carolina 27703 to consider and vote upon a proposal to approve and adopt the Agreement and Plan of Merger dated as of November 14, 2006, among Embrex, Inc., Pfizer Inc. and Eagle Merger Sub Inc. (which is a wholly-owned subsidiary of Pfizer) and the transactions contemplated thereby. Only shareholders of record at the close of business on December 12, 2006, the record date, are entitled to notice of the special meeting and to vote at such meeting. Embrex(R), Inc., The In Ovo Company(R), is an international agricultural biotechnology company engaged in the development of innovative in ovo (in the egg) solutions that meet the needs of today's global poultry industry. Embrex(R) and The In Ovo Company(R) are trademarks of Embrex, ...
November 15, 2006
NEW YORK & RESEARCH TRIANGLE PARK, N.C.-Pfizer Animal Health, a division of Pfizer Inc (NYSE: PFE) has agreed to acquire Embrex, Inc. (NASDAQ: EMBX), an international agricultural biotechnology company known for its Inovoject® vaccine-delivery systems, the companies announced today. Under the terms of the agreement, Pfizer will acquire through a merger 100 percent of the equity of Embrex for $17 per share in cash, making Embrex a wholly-owned subsidiary of Pfizer Inc. The transaction has an aggregate equity purchase price of approximately $155 million. The acquisition is subject to approval by the shareholders of Embrex, other customary closing conditions, clearance under the Hart-Scott-Rodino Antitrust Improvements Act and certain foreign filings. The two companies expect to complete the acquisition in the first quarter of 2007. In 2005, Embrex reported revenues of $52.5 million, up 8 percent over 2004. Sales outside the United States accounted for 37 percent of total revenues. ...