Pfizer weighs next move as $117bn AstraZeneca bid ends

The biggest proposed deal in drug industry history is dead. Or, dead for now.

27th May, 2014
Under British takeover rules, Pfizer had until 5pm London time yesterday to make a firm offer.

The biggest proposed deal in drug industry history is dead. Or, dead for now.

Pfizer, the largest US drugmaker, yesterday abandoned its effort to buy AstraZeneca for £69.4 billion, saying the public bid rejected by its London-based competitor represented “full value.” AstraZeneca said it welcomed “the opportunity to continue building on the momentum we have already demonstrated.”

Under British takeover rules, Pfizer had until 5pm London time yesterday to make a...

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