Actavis approached by Pfizer in latest takeover deal, according to sources
US pharma giant Pfizer (NYSE: PFE) has held talks regarding an acquisition of Ireland-headquartered generics major Actavis (NYSE: ACT), according to Bloomberg. Its sources indicated that the negotiations are still informal and that no official offer has been made, but the Wall Street Journal, which also cited sources close to the matter, indicated that talks have already ended.
The WSJ’s sources said that Pfizer approached Actavis to propose a cash and stock transaction, but that Actavis has decided not to make a deal.
This could be the latest move in Pfizer’s attempts to make a tax-friendly acquisition after its efforts to acquire Anglo-Swedish drug major AstraZeneca (LSE: AZN) failed. Sources suggest Pfizer has not ruled out another bid for AstraZeneca, and one source in particular said Pfizer is likely to wait until late November, following US elections and the standstill period following the previous attempted AstraZeneca takeover.
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