A PYMNTS Company

US/UK: $106B not good enough for AstraZeneca

By  |  May 4, 2014

AstraZeneca has reportedly rejected a reported $106 billion buyout offer made by US peer Pfizer last Friday, claiming the bid “substantially” undervalued the company.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    According to reports, Pfizer submitted its bid and UK-based AstraZeneca rejected it all in the same day. Should the companies eventually agree on a price tag, such a merger would create the world’s largest pharmaceuticals company, reports say.

    Industry experts have suggested that Pfizer could take its offer straight to AstraZeneca shareholders in search of striking a deal. The firm is said to prefer an agreed-upon deal, however, as hostile acquisitions take longer to complete.

    AstraZeneca’s dismissal of the offer was not the first such rejection; an earlier offer by Pfizer was also rejected.

    Full content: Reuters

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.