Pfizer's Acquisition of Wyeth

(h) When the deal was announced on Jan 26, 2009, Wyeth's share price fell from $43.43 to

$43.09. Why?

(i) In reality, Pfizer offered to pay with a combination of cash and shares. Specifically, each

Wyeth share would be exchanged for $33 in cash and 0.985 of Pfizer shares. On Jan 27,

Pfizer's share price was $15.49, and Wyeth's share price was $43.89. Were Wyeth shares on

that day worth more or less than the value of the offer? Why?