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Hospira shareholders approve merger at special meeting

Subject to certain closing conditions, Pfizer will acquire Hospira for $90 per share.

Hospira shareholders voted Wednesday in favor of the proposal to adopt the merger agreement with Pfizer Inc. at a special meeting of stockholders.

Earlier this year, Hospira and Pfizer Inc. 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 approximately $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.

At the meeting, 99.4% of shares voted for the merger proposal, according to the company.

The merger is expected to close in the second half of 2015.

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