Hospira Shareholders OK Proposed Takeover By Pfizer

(RTTNews) - Hospira, Inc. (HSP) said Wednesday that its shareholders have voted in favor of the proposal to adopt the merger agreement with Pfizer Inc. (PFE) at a special meeting.

On February 5, Hospira and Pfizer announced they had entered into a merger agreement under which Pfizer will acquire Hospira for $90 per share in cash for a total enterprise value of about $17 billion.

The merger is subject to customary closing conditions, one of which was approval of the merger by Hospira's shareholders. Additional closing conditions to be met include obtaining regulatory approvals in several jurisdictions.

Hospira and Pfizer continue to expect the merger to close in the second half of 2015.