US-based pharmaceutical giant Pfizer could still ink the industry’s largest takeover even after being rejected for such a deal by UK’s AstraZeneca, say reports.
AstraZeneca rejected Pfizer’s takeover offer last May, a deal that would have been a record purchase for the market at $118 billion. But Pfizer may now pursue AstraZeneca rival GlaxoSmithKline, also based in the UK, and also for $118 billion.
No deal has been inked, and reports say that Pfizer could even target Ireland-based Actavis for a $57 billion acquisition. Both would strategically expand Pfizer’s drug portfolio.
According to reports, Pfizer is looking to acquire a major pharmaceutical company abroad as it looks to relocate its headquarters and take advantage of lower tax rates overseas.
Full content: Bloomberg
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