AstraZeneca turns down Pfizer's increased bid of $106B


AstraZeneca (AZN) has rejected Pfizer's (PFE) improved bid of $106B, saying the offer undervalues the British drugmaker.

"Pfizer's proposal would dramatically dilute AstraZeneca shareholders' exposure to our unique pipeline and would create risks around its delivery," says Chairman Leif Johansson.

AstraZeneca's shares are +0.1% premarket. (PR)

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Comments (5)
  • Momintn
    , contributor
    Comments (5690) | Send Message
     
    I hope this deal doesn't happen. AZN is facing a patent cliff with 4 drugs coming off of patent.
    2 May 2014, 09:19 AM Reply Like
  • gmoney328
    , contributor
    Comments (58) | Send Message
     
    Yeah. PFE, please go look elsewhere...
    2 May 2014, 01:09 PM Reply Like
  • freeman8201
    , contributor
    Comments (814) | Send Message
     
    anyone selling if they merge?
    2 May 2014, 07:12 PM Reply Like
  • yblarrr
    , contributor
    Comments (1152) | Send Message
     
    If PFE management cared about the shareholders,they would just drop it!
    A billion here, a billion there on overpaying soon will add up to real money
    and another disaster for PFE. The only winner here is AZN,they have seen their
    shares double, for a company that has seen it best days. Makes no sense!
    3 May 2014, 09:54 AM Reply Like
  • Shelby Cardozo
    , contributor
    Comments (1541) | Send Message
     
    Makes sense as a AZN shareholder. :D
    5 May 2014, 06:49 PM Reply Like
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