By Jan 26, 2009, 8:18 AM 

Pfizer (PFE) and Wyeth (WYE) announced that they have entered into a definitive merger agreement under which Pfizer will acquire its rival for $68 bln ($50.19/share) in a cash-and-stock transaction. At the same time, Pfizer announced that it’s slashing more than 8,000 jobs.

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