Abstract
AstraZeneca’s management has rejected Pfizer’s fourth and presumably final takeover offer, this one valued at $119 billion. “We have rejected Pfizer’s final proposal because it is inadequate and would present significant risks for shareholders, while also having serious consequences for the company, our employees, and the life sciences sector in the U.K., Sweden, and the U.S.,” AstraZeneca Chairman Leif V. Johansson said. Even if key concerns around a merger had been satisfactorily addressed, he added, AstraZeneca’s board wanted to see an offer of more than $127 billion before it would consider recommending it to shareholders. The rejection seems to end a takeover saga that has been gripping the drug industry for weeks. In a letter to AstraZeneca, Pfizer indicated that its proposal “is final and cannot be increased.” It also said it will not make a hostile offer directly to AstraZeneca shareholders. Owing to the vagaries of British takeover law, ...
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
