Pfizer Reportedly in Talks to Acquire Seagen

Wall Street Breakfast

Seeking Alpha

Business, Investing, Business News, News

3.8 • 950 Ratings

🗓️ 27 February 2023

⏱️ 7 minutes

🔗️ Recording | iTunes | RSS

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Summary

Pfizer (PFE) reportedly in early stage talks to acquire Seagen (SGE). Nokia (NOK) revamps iconic logo in strategy shift away from phone business. Nasdaq, S&P, Dow futures rise with durable goods orders in view.

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Seagen: Back On Track, Priced About Right

Transcript

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0:00.0	Welcome to Seeking Alpha's Wall Street breakfast, where we cover the top news for investors every morning.
0:07.0	Good morning, today is Monday, February 27th, and I'm your host Julie Morgan.
0:12.0	Pfizer is reportedly an early talk. and I'm your host Julie Morgan.
0:16.1	Pfizer is reportedly in early talks to buy Sejan. Sejan is up more than 16% pre-market.
0:19.6	Pfizer is down less than 2%.
0:24.0	What's in a logo? Well, Nokia is changing its logo.
0:26.0	No more blue.
0:27.0	Look out for a rainbow of colors
0:29.0	as the company steps away from its phone identity.
0:32.0	This weekend earnings... steps away from its phone identity.
0:33.0	This weekend earnings seems like every retailer in the world is reporting.
0:36.8	And that includes two more big names, competitors of two names from last week, Target and Lowe's.
0:44.4	Our top story, Pfizer is said to be in negotiations to acquire cancer-focused biotech
0:50.0	seagian.
0:51.0	According to the Wall Street Journal, the talks are at an early stage and
0:54.4	there's no guarantee a deal will be reached.
0:56.8	Sejan has a market cap of $30 billion and a transaction will likely be at a
1:01.5	premium. The news comes after it was reported last summer that Merck was said to be considering an acquisition
1:07.8	of Sejan, but the talks were said to have ended over a disagreement on price. At that time Merck's potential deal with
1:14.6	seagen was worth over $40 billion or more than $200 a share. This has been a
1:20.2	hot story this morning on Seeking Alpha, some of the comments are questioning why Merck would walk away from a deal like this.
1:28.0	Recently, William Myers wrote an article about Sejan saying it's back on track and priced about right. In the article he
	...

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