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View the article online at http://citywire.co.uk/wealth-manager/article/a752898

BlackRock & Schroders urge Astra to reopen Pfizer talks

by Danielle Levy on May 23, 2014 at 08:17

BlackRock & Schroders urge Astra to reopen Pfizer talks

BlackRock and Schroders are understood to feature among a string of large shareholders in AstraZeneca who are urging the drugmaker to reopen takeover talks with Pfizer.

The FT reported that the groups have encouraged Astra to re-enter talks in August, after the group rejected Pfizer's 'final offer' of a £55 per share deal.

BlackRock represents Astra's largest shareholder wih a stake worth around 8%, and although the fund group has so far refrained from declaring its position, the FT reported that people close to BlackRock had said it backed Astra's rebuff of the £69.4 billion offer, but expects fresh negotiations to lead to an improved offer.

The FT also highlighted calls from Jupiter and Axa’s UK investment arm for more talks.

3 comments so far. Why not have your say?

Anonymous 1 needed this 'off the record'

May 23, 2014 at 08:50

We now know who do not back Britain and who would sell Astra down the river and watch their employees lose their jobs

I would urgent all 6000 + Astra employees, their families, small businesses in the supply chain etc to closely examine which funds they hold in their ISAs, Pension Funds, unit trusts etc

If they hold any of these fund managers then I would urge that they sell these funds and buy Neil Woodford who is backing British Industry.

Astra employees may be interested to know that the fund managers calling for Astra to sell include one who is American and the other is French. nuf said.

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Paul Frank

May 23, 2014 at 17:30

Proof if proof were needed that the fund managers are only in it for the money!

No thought whatsoever about the UK AZ jobs which may be lost, the loss of jobs to UK suppliers/subcontractors etc.

AZ must be a great company if Pfizer want to buy it.

You also have an overriding responsibility to the nation, when a major takeover is planned by a foreign company.

Perhaps one day it will be YOUR jobs on the line.

Hopefully, the Government will block any takeover, particularly if it is not welcomed by AZ Board.

I am not associated in any way with any financial organisation, nor am I am employee of AZ.

I'm just a concerned 100% British Citizen.

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Gavin Palmer

May 25, 2014 at 12:40

So look who is looking for a boost to their short term performance figures. At 8% that means that Blackrock is overweight in Astra. Enough said.

Specsavers calls.

MAM all over again. Too Big and not responsible enough.

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