Pfizer Animal Health Completes Acquisition of Synbiotics Corporation

Monday, January 03, 2011 - 04:31am

(BUSINESS WIRE)--Pfizer Animal Health today announced the completion of its acquisition of Synbiotics Corporation (Pinksheets SYNB.PK) on December 30, 2010, resulting in the cessation of trading of Synbiotics common stock.

Shareholders of record of Synbiotics’ common stock will receive written instructions, including a letter of transmittal, for exchanging their Synbiotics common stock for the merger consideration. Holders in "street" name should contact their broker to receive their merger consideration. It is estimated that Synbiotics common shareholders will be entitled to receive up to approximately $0.306 per share in cash in connection with the acquisition, of which approximately $0.019 per share will be held in escrow as a fund against which Pfizer may make claims for any losses arising from any breaches of Synbiotics' representations, warranties, covenants and agreements and similar customary matters.

Pfizer Animal Health announced on December 29, 2010, that is was acquiring Synbiotics, a leader in the development, manufacture and marketing of immunodiagnostic tests for companion and food production animals. The acquisition not only allows Pfizer Animal Health to enhance its offerings to veterinarians at point of care in the clinic and on the farm, but also to expand into products for diagnostic reference laboratories and reproductive services for canine breeders.

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Rick Goulart, 212-733-7457
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