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NYT: BlackRock encourages AstraZeneca to renew Pfizer talks at later date

  • AstraZeneca’s (AZN) largest shareholder, BlackRock (BLK), wants the drugmaker to renew its talks with Pfizer (PFE) about a potential deal at a later date, NYT's DealBook reports.
  • BlackRock reportedly has told AZN’s board that it supports the decision not to accept PFE's latest offer, which valued AZN at ~$117B, but would prefer the companies engage in further talks as soon as three months from now, when certain restrictions would expire under British takeover rules.
  • Under British takeover rules, PFE wouldn’t be able to come back with another offer for AZN for six months time following Monday’s deadline, although it could offer a higher price in three months if AZN’s board agreed to talks.
Comments (2)
  • reader
    , contributor
    Comments (324) | Send Message
     
    At what price would PFE be overpaying?
    22 May, 07:45 PM Reply Like
  • Willow Street Investments
    , contributor
    Comments (829) | Send Message
     
    Who cares what Blackrock thinks? They just want to cash in and move on. They couldnt care less about jobs or science.
    22 May, 07:48 PM Reply Like
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