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| Version 1 | Version 2 |
|---|---|
| Pfizer deal leads Dow Jones higher | Pfizer deal leads Dow Jones higher |
| (about 1 hour later) | |
| (Close): US drugmaker Pfizer led the Dow Jones on Thursday after clinching a deal to buy rival Hospira. | (Close): US drugmaker Pfizer led the Dow Jones on Thursday after clinching a deal to buy rival Hospira. |
| Pfizer was the Dow's best performer, adding 3%% following the announcement of the $17bn takeover. | Pfizer was the Dow's best performer, adding 3%% following the announcement of the $17bn takeover. |
| Hospira did even better, soaring 35%. | Hospira did even better, soaring 35%. |
| Overall, the Dow Jones was up 211.86 points at 17,884.88, while the S&P 500 was 21.01 points higher at 2,062.52 and the tech-focused Nasdaq rose 48.39 points to 4,765.10. | |
| Pfizer's takeover of Hospira has already been approved by the boards of both firms. | Pfizer's takeover of Hospira has already been approved by the boards of both firms. |
| Pfizer has agreed to pay $90 a share in cash for Hospira, which makes sterile injectable treatments and biosimilar drugs. | Pfizer has agreed to pay $90 a share in cash for Hospira, which makes sterile injectable treatments and biosimilar drugs. |
| Pfizer said its rival's range of products was complementary to its own. | Pfizer said its rival's range of products was complementary to its own. |
| In trading after markets had closed, shares in networking site LinkedIn rose nearly 7% after the company reported its 15th consecutive quarter of earnings that beat expectations. | |
| LinkedIn reported a fall in fourth-quarter profit to $3.1m compared to $3.8m a year earlier. | |
| However, revenue rose by 44% to $632m in the October to December period, significantly higher than had been expected. |