Astrazeneca knocked by US regulator drug verdict June 26, 2014 UK pharma giant Astrazeneca was dealt a blow yesterday when US regulators knocked back its bid to gain accelerated approval for a new ovarian cancer drug. Astrazeneca’s pipeline is under particular scrutiny after chief exec Pascal Soriot boasted of a bright and innovative future while fighting off a £69bn takeover bid from US rival Pfizer [...]
Pfizer blames price for Astrazeneca deal collapse June 11, 2014 Drug giant Pfizer yesterday said the £69bn bid to take over UK rival Astrazeneca collapsed due to price disagreements, as shares in the UK company rallied in the hope of a revival of talks. Pfizer finance chief Frank D’Amelio told a US healthcare conference yesterday that the two sides did not come to a deal [...]
AstraZeneca releases statement on Pfizer’s pulled £69bn bid May 27, 2014 AstraZeneca has released a statement this morning confirming Pfizer’s shelving of its controversial takeover bid for the UK drugs firm. Yesterday, US Pfizer confirmed it's dropped the £69bn approach. It will now have to wait until the end of November, should it want to make another offer for Astra. Chairman Leif Johansson commented: We note [...]
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 [...]