Pfizer (PFE) sweetened its bid for AstraZeneca (AZN) to about 63.1 billion pounds ($106.5 billion), aiming to bring the U.K.’s second-biggest drugmaker to the negotiating table. The offer values AstraZeneca at 50 pounds a share ($84.47) in cash and stock, New York-based Pfizer said in statement today. The London-based company rejected a proposal of 46.61 pounds a share, announced April 28. Pfizer is raising its bid after Chief
Pfizer (PFE) says it is trying to acquire fellow big pharma AstraZeneca, confirming an anonymously sourced report from last week. Pfizer stock was up 4.5% and AstraZeneca 15% in morning trading on the stock market today. Pfizer bid for AstraZeneca on Jan. 5, offering $76.62 a share in cash and stock. AstraZeneca turned that down, but Pfizer contacted it again on April 26, trying to restart talks. AstraZeneca (AZN) said in its own statement that
Big pharmas Pfizer (PFE) and AstraZeneca (AZN) were both up in early trading on the stock market today after word got out Sunday that Pfizer had offered $101 billion to buy its rival. Citing unnamed sources, the U.K.’s Sunday Times said that the two had been talking but that AstraZeneca had resisted the offer. Both companies declined to comment. The report set Wall Street abuzz with speculation. AstraZeneca, unlike some of its rivals, is still