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US/UK: Pfizer still has a chance to ink industry’s largest takeover

 |  August 6, 2014

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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