Streams

For the latest updates on the storm and your commute, check out our transit tracker

AstraZeneca Board Rejects New Offer From Pfizer

Monday, May 19, 2014

The board of directors of British drug maker AstraZeneca says it rejects the raised $119 billion takeover offer from U.S. drugmaker Pfizer.

In a statement released Monday, AstraZeneca's board said it "reiterates its confidence in AstraZeneca's ability to deliver on its prospects as an independent, science led business."

Pfizer Inc., the world's second-biggest drugmaker by revenue, has been courting No. 8 AstraZeneca PLC since January, saying their businesses are complementary and would be stronger together. It said Sunday it was ready to raise its stock-and-cash offer by 15 percent to $118.8 billion, or 70.73 billion pounds.

AstraZeneca's board said it believes Pfizer is making "an opportunistic attempt to acquire a transformed AstraZeneca, without reflecting the value of its exciting pipeline."

Tags:

More in:

Leave a Comment

Email addresses are required but never displayed.

Get the WNYC Morning Brief in your inbox.
We'll send you our top 5 stories every day, plus breaking news and weather.

Sponsored

Latest Newscast

 

 

Support

WNYC is supported by the Charles H. Revson Foundation: Because a great city needs an informed and engaged public

Feeds

Supported by