View the article online at http://citywire.co.uk/wealth-manager/article/a749029
Astrazeneca reject Pfizer's 'inadequate' fresh bid
by Danielle Levy on May 02, 2014 at 12:44
Pfizer noted the £50 per share offer represented a 22% premium on Astra's all-time high closing price of £41.03 since formation of the company in 1999.
Commenting on the proposal, Ian Read, chairman and CEO of Pfizer, said: 'We have seen significant positive market reaction to the announcement we made on April 28, including from the shareholders of both our companies.
'The consistent message we have heard reinforces our belief that there is a highly compelling strategic, business and financial rationale for combining our businesses, with significant benefits for shareholders and stakeholders of both companies.'
He added: 'We believe our proposal is responsive to the views of AstraZeneca shareholders and provides a sound basis upon which to arrive at recommendable terms for the combination of our two companies.'
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by James Phillipps on Jul 23, 2014 at 14:34