Pfizer (NYSE:PFE) and its Wyeth unit recommend that holders of its Pfizer's 7.200% notes due 2039 and Weyth's 5.950% notes due 2037 reject the unsolicited tender offer made by Huguenot Bond Liquidity LLC on May 11.

Pfizer and Wyeth do not endorse Huguenot Bond Liquidity's unsolicited tender offer, and neither Pfizer nor Wyeth is affiliated or associated with the offeror, the tender offer or the offer documentation.

PFE points out that Huguenot's tender consideration, as calculated using a reference date of May 21, 2020, is ~7% lower than the last trade price of $166 per $100 principal amount of notes for the Pfizer notes and ~8% lower than the last trade price of $145 per $100 principal amount of notes for the Wyeth notes.

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