September 1, 2011 / 12:30 PM / 6 years ago

UPDATE 1-Pfizer extends bid for Icagen

* Offer extended by 24 hours to midnight Sept. 1

* 4 mln Icagen shares tendered through Aug. 31

CHICAGO, Sept 1 (Reuters) - Pfizer Inc (PFE.N) said it extended its tender offer for Icagen Inc ICGN.O by 24 hours, to midnight Eastern Time Thursday.

American Stock Transfer & Trust Co LLC, the depositary for the tender offer, said that as of midnight Aug. 31 4,044,035 Icagen common shares had been validly tendered and not withdrawn. That includes shares tendered by directors and executive officers of Icagen.

Pfizer already owns 1,067,015 shares of Icagen common. Added to the validly tendered shares that have not been withdrawn, that represents about 57 percent of the outstanding shares.

    The total represents about 49 percent of the fully diluted shares of Icagen and was 107,431 shares below the number needed to satisfy the condition for the minimum number of shares to be tendered in order for Pfizer to accept for payment and pay for such shares. (Reporting by Debra Sherman; editing by John Wallace)

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