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.

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Comments (2)
  • reader
    , contributor
    Comments (326) | Send Message
     
    At what price would PFE be overpaying?
    22 May 2014, 07:45 PM Reply Like
  • Willow Street Investments
    , contributor
    Comments (2122) | 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 2014, 07:48 PM Reply Like
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