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BlackRock & Schroders urge Astra to reopen Pfizer talks
by Danielle Levy on May 23, 2014 at 08:17
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.
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