Pfizer retreats after dropping Astrazeneca takeover approach May 27, 2014 US DRUG giant Pfizer last night dropped its controversial £69bn takeover approach for Astrazeneca, banning the company from making another offer for the UK-based firm until the end of November. Astrazeneca had effectively confirmed the death of a deal last week by turning down a £55 a share final offer, despite some shareholders favouring a [...]
Astrazeneca bid deadlock amid investor rancour May 21, 2014 ASTRAZENECA and Pfizer shares rallied slightly yesterday as investors digested the impending failure of Pfizer’s £69bn takeover bid for the UK drug giant, amid distant hopes of a revival in talks later this year. Pfizer’s £55 a share “final” offer for the company – which Astrazeneca batted away on Monday – is set to lapse [...]
One of AstraZeneca’s biggest shareholders says the Pfizer dismissal was too hasty May 21, 2014 Another unhappy AstraZeneca shareholder. Jim Stride, director and head of UK equities at AXA Investment Managers UK, has called for AstraZeneca's board to put the Pfizer bid to shareholders. AXA is one of the biggest holders of AstraZeneca stock. Full statement: AXA Investment Managers UK (AXA IM UK), acting in accordance with its fiduciary duty [...]
Astrazeneca’s £15bn gamble May 19, 2014 THE DEAL IS OFF. SHAREHOLDERS ARE HURTING. NOW THE UK DRUG GIANT MUST PROVE THAT IT CAN DELIVER ON ITS PROMISES – AND FAST UK DRUG giant Astrazeneca yesterday shut the door on Pfizer’s audacious £69bn takeover bid, splitting shareholders and piling pressure on bosses to live up to ambitious promises they have made on [...]
London Report: Astrazeneca’s refusal of Pfizer bid lowers FTSE May 19, 2014 BRITAIN’S top shares fell yesterday, dented by a sharp drop in pharmaceutical firm Astrazeneca after it rejected rival Pfizer’s higher takeover bid. Astrazeneca dived 11.1 per cent after turning down Pfizer’s 55 pounds/share take-it-or-leave-it offer. That steep decline was the biggest drag on the FTSE 100 by some margin, with the index closing down 11.26 [...]
Why a successful Pfizer bid for AstraZeneca isn’t completely off the table May 19, 2014 The rejection of a £55-a-share offer by Pfizer for AstraZeneca has led a few market watchers to suggest that any chance of a deal has now evaporated. But while AstraZeneca shares have fallen, by around 14 per cent, stock in the pharmaceutical company hasn't settled back to where it was before Pfizer's initial approach. It [...]
AstraZeneca rejects new Pfizer offer May 19, 2014 Shares in US drugs giant Pfizer have slumped by 14 per cent after the company's £69bn takeover offer was rejected by the board of AstraZeneca. Last night Pfizer revealed that it had raised its offer for AstraZeneca to £55 a share, after having an earlier offer of £53.50 turned down on Friday night. Chairman of [...]
AstraZeneca shares drop over 1pc as Pfizer halted on NYSE May 16, 2014 Shares of the US drugmaker Pfizer were halted in New York, shortly after 12pm local time. Trading was stopped after the company announced that it to submit a new drug application to US regulators. Palbociclib is an oreal medication, intended as a treatment for breast cancer. With traders still waiting on news of a possible [...]
Astrazeneca told to engage with Pfizer boss Read May 15, 2014 ASTRAZENECA shareholders yesterday urged the firm’s management to start engaging with Pfizer bosses over a potential takeover deal. Pfizer chief Ian Read, who was last night plotting his next move in his bid to buy the UK drug giant, met with City institutions yesterday to lay out his plans for a combined company. One institutional [...]
Pfizer boss woos fund managers in Astrazeneca battle May 14, 2014 THE BOSS of the American drug giant hoping to snap up UK rival Astrazeneca will go on a whirlwind tour of City shareholders today to discover how much it will have to pay to buy the British company. Ian Read, who yesterday faced a second grilling from MPs in Parliament, will sound out a dozen [...]