Pfizer drops bid for AstraZeneca

|About: AstraZeneca Group plc (AZN)|By:, SA News Editor

As expected, Pfizer (PFE) has abandoned its attempt to acquire AstraZeneca (AZN) for £69.4B ($117B), saying that "it does not intend to make an offer" for the U.K. company after the latter rejected Pfizer's latest proposal.

Under British law, the U.S. giant can not make another bid for AstraZeneca for three-to-six months. (PR)

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