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19/05/2014
UK Drug Firm Rejects £65bn Takeover Offer
A "final" takeover offer from US drug giant Pfizer for UK company AstraZeneca has been rejected.
The offer valued at the UK drug company at around £69 billion pounds, but AstraZeneca has said that the offer of £55 per share "undervalues the company and its attractive prospects".
It is understood that AstraZeneca had concerns over the takeovers impact on drug research and job security.
It is not known if following the rejection of what Pfizer called its "final" offer, they US firm will launch a hostile takeover. A move that AstraZeneca has said it does not want.
(MH/CD)
The offer valued at the UK drug company at around £69 billion pounds, but AstraZeneca has said that the offer of £55 per share "undervalues the company and its attractive prospects".
It is understood that AstraZeneca had concerns over the takeovers impact on drug research and job security.
It is not known if following the rejection of what Pfizer called its "final" offer, they US firm will launch a hostile takeover. A move that AstraZeneca has said it does not want.
(MH/CD)
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