A division of Pfizer Inc. (NYSE: PFE) – Pfizer Animal Health- has recently agreed to acquire Embrex, Inc. (Nasdaq: EMBX), an international agricultural biotechnology company known for its Inovoject® vaccine-delivery systems.
The said acquisition, having an aggregate equity purchase price of approximately $155 million, is subject to approval by the shareholders of Embrex, other customary closing conditions, clearance under the Hart-Scott-Rodino Antitrust Improvements Act and certain foreign filings and expected to be completed in the first quarter of 2007.
Find more details from the press release. 
The terms of agreement include Pfizer acquiring (via a merger) 100% of the equity of Embrex for $17 per share in cash, making Embrex a wholly-owned subsidiary of Pfizer Inc.
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