AstraZeneca shares gain on speculation of higher bid from Pfizer

Shares in UK pharmaceutical company AstraZeneca made gains on Thursday as speculation mounted that US drug company Pfizer plans to make a higher takeover bid.

8th May, 2014
AstraZeneca has already rejected a $106 billion offer from US drug giant Pfizer

Shares in UK pharmaceutical company AstraZeneca made gains on Thursday as speculation mounted that US drug company Pfizer plans to make a higher takeover bid.

The company rejected outright Pfizer's earlier offer of $106 billion, saying that it failed to recognise the value of experimental medicines which are currently under development.

The new bid is expected to be in the region of $113 billion.

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