Pfizer may make another run at AstraZeneca by year end


Some observers believe Pfizer (PFE -0.4%) will rekindle its bid for AstraZeneca (AZN +3%) by late 2014. The British firm rejected its ₤71B offer in May. Pfizer walked away despite being within 7% of the price AstraZeneca wanted.

Under British takeover rules, the negotiations could restart as early as August 26 if AstraZeneca invites Pfizer back to the table. Pfizer cannot initiate discussions until November 26. The rules also allow Pfizer to make a single offer via private phone call to AstraZeneca but this option is rarely used because the process stops if the target says no.

It all depends on Ian Read's enthusiasm for a higher bid. This may be unlikely considering what happened in May.

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Comments (4)
  • Willow Street Investments
    , contributor
    Comments (2272) | Send Message
     
    The investment bankers would love it but current PFE shareholders would not. What a disaster PFE's leaders are. How about developing some new drugs for a change?
    21 Aug 2014, 11:52 AM Reply Like
  • stuff2gil
    , contributor
    Comments (48) | Send Message
     
    Agree wholeheartedly with Willow. Some research in the history of Pfizer showed that even their blockbuster drug Lipitor was bought by Warner Lambert takeover. Good for W-L stockholders bad fro Pfizer's. Hopefully they now do what is good for Pfz shareholders whom they really do report to. Of course the Prez. may goat them into not doing the inversion.....yeh right.
    21 Aug 2014, 12:20 PM Reply Like
  • crazty4tennis
    , contributor
    Comments (1202) | Send Message
     
    Oh C'mon PFE. Give it up! Raise thy dividend!
    21 Aug 2014, 05:04 PM Reply Like
  • hilti
    , contributor
    Comments (21) | Send Message
     
    Overpaying for AZN is plain dumb.
    Therefore expect PFE to give it another try.
    Instead they should buy some small innovative companies-cheaper ,better prospects.
    22 Aug 2014, 09:05 AM Reply Like
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