In Brief: AB Volvo
This article was originally published in The Rose Sheet
AB Volvo: Announces June 25 its plans to offer 46 mil. shares of Pharmacia & Upjohn stock -- about two thirds of Volvo's stake in the company -- valued at almost $2 bil. Underwriters will have the option to purchase an additional 6.9 mil. shares to cover possible over allotments. Volvo expects to price the stock offering by the week of July 22. To protect its interest in divesting its stake in Pharmacia & Upjohn, Volvo apparently blocked the company's efforts to acquire Allergan in May ("The Rose Sheet" May 20, In Brief)...
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