It's Connecticut's turn in the fallout-from-megamergers spotlight. Pfizer so far is keeping mum on just how its buyout of Wyeth will affect the two companies' facilities--and workers--in the state. The company says it's because of SEC regulations governing the merger of public companies. Whatever the reason, the fear-inducing silence could be a blessing in disguise for state and local officials, The Day suggests.
This window of silence gives Gov. Jodi Rell and other government types a chance to boost Connecticut operations up on the list of keepers. Pull out all the stops before the company finalizes its cuts, the newspaper says. "If Pfizer announces a closing, it will likely be too late to act," the editors wrote. "Make the calls now."
Of course, management is already making lists and checking them twice, but there's still some time, according to Pfizer officials. The big decisions won't come down until a month or two after the deal closes.
Pfizer and Wyeth employees are no doubt biting their nails at the prospect of waiting that long to hear their fates. But maybe it gives them the chance to mount an all-out push to persuade their bosses of their worth. Governors and mayors don't have a monopoly on corporate lobbying.
- read the editorial in The Day
- see the BNet Pharma post