Wealth Manager - the site for professional investment managers

Register to get unlimited access to all of Citywire’s Fund Manager database. Registration is free and only takes a minute.

BlackRock & Schroders urge Astra to reopen Pfizer talks

3 Comments
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.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Nick Hayes: finding good bonds in negative yield world

Nick Hayes: finding good bonds in negative yield world

Why do some bonds offer 'negative yields' and how do you avoid them? Nick Hayes of AXA Investment Managers explains.

Play Neil Gregson: gold is prettiest in ugly contest

Neil Gregson: gold is prettiest in ugly contest

The JP Morgan Natural Resource fund manager talks about the prospects for gold with plenty of uncertainty in the global economy.

Brewin's Gutteridge & Foster talk property with Standard Life's Baggaley

Brewin's Gutteridge & Foster talk property with Standard Life's Baggaley

Gutteridge and Foster discuss UK commercial property with Jason Baggaley, manager of the Standard Life Property Income investment trust

Your Business: Cover Star Club

Profile: Creechurch Capital’s CEO on going the extra mile in a crowded market

Profile: Creechurch Capital’s CEO on going the extra mile in a crowded market

Growing a business is the main aim of many company owners but managing that growth in a controlled way is just as important

Wealth Manager on Twitter