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BlackRock & Schroders urge Astra to reopen Pfizer talks

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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.

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Profile: The opportunity set that attracted Brett Williams to wealth management

Profile: The opportunity set that attracted Brett Williams to wealth management

Brett Williams is best known for helping to build some of the biggest platforms in the IFA market.He made the move over to wealth management to head SEI’s UK business earlier this year in the belief that this is where the best opportunities now lie.

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