Pfizer (PFE) offered to purchase AstraZeneca (AZN) in January for £46.61 ($76.62) a share in cash and stock, the U.S. company said, with the proposal representing a 30% premium on AstraZeneca's shares at the time.
After "limited high-level discussions, AstraZeneca declined to pursue negotiations," Pfizer said. The latter again contacted AstraZeneca on Saturday about a deal and the latter again "declined to engage."
Pfizer is now "considering its options" and will continue to offer a premium on AstraZeneca's shares, which closed at £40.80 on Friday for a market cap of £51.47B. (PR)