Pfizer said to be eyeing a $100 billion bid for AstraZeneca
USA-based Pfizer (NYSE: PFE), the world’s largest pharma company by sales, looks to be on the acquisition trail, this time setting its sights on Anglo-Swedish drug major AstraZeneca (LSE: AZN), according to a report today (April 20) by the UK Sunday Times.
According to the newspaper, Pfizer has approached AstraZeneca to propose a £60 billion ($101 billion) takeover, citing senior investment bankers and industry sources, that informal conversations about a deal had taken place between the two firms in recent weeks but that no talks were currently under way after AstraZeneca resisted the approach.
AstraZeneca is the UK's second-biggest pharmaceuticals group, after GlaxoSmithKline, with a current market valuation of around $80 billion, compared with Pfizer, which is valued at $193 billion, according to Thomson Reuters data.
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