Volume 92 Issue 22 | p. 7 | News of The Week
Issue Date: June 2, 2014 | Web Date: May 30, 2014

Pfizer Drops Pursuit Of AstraZeneca

Two drug majors to go separate ways after failed takeover attempt
Department: Business
Keywords: pharmaceuticals, acquisitions, taxation, R&D, employment

Pfizer ended its attempt to take over AstraZeneca last week after the British firm rejected its final $119 billion offer. “We continue to believe that our final proposal was compelling and represented full value,” Pfizer CEO Ian C. Read said.

In turning down the U.S. company’s bid, AstraZeneca Chairman Leif Johansson declined to heed some shareholders who wanted him to at least engage in talks. Rather, Johansson said he preferred to . . .

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