Saturday, November 22nd5.8°C
24157

Pfizer sweetens bid for AstraZeneca as it tries to assuage UK concerns

LONDON - Pfizer Inc. has sweetened its offer for AstraZeneca PLC and outlined measures it hopes will ease British government concerns over the takeover.

The Viagra maker said Friday it is offering 50 pounds (US$84) a share in cash and stock, 7.3 per cent up on the previous bid. The offer values AstraZeneca at $106 billion.

Pfizer also sent a letter to Prime Minister David Cameron, promising to keep the country's corporate and tax residence in England and saying the "golden triangle of Oxford, Cambridge and London would represent a vital component" of the deal.

Critics fear the takeover could mean big job losses, and the potential loss of stature in the science sector has become a political issue.

Pfizer is the world's second-biggest drugmaker by revenue — while AstraZeneca ranks eighth.

The Canadian Press


Read more Business News

24053


Recent Trending




Today's Market
S&P TSX15111.13+35.95
S&P CDNX789.135.56
DJIA17810.0691.06
Nasdaq4712.97+11.102
S&P 5002063.50+10.75
CDN Dollar0.8901-0.0002
Gold1201.50+10.60
Oil76.72+0.87
Lumber331.50+4.50
Natural Gas4.236-0.253

 
Okanagan Companies
Pacific Safety0.155-0.005
Knighthawk0.01-0.005
QHR Technologies Inc1.30+0.03
Cantex0.04+0.005
Anavex Life Sciences0.178+0.008
Metalex Ventures0.03+0.005
Russel Metals31.62+0.82
Copper Mountain Mining2.24+0.06
Colorado Resources0.125-0.015
ReliaBrand Inc0.013-0.002
Sunrise Resources Ltd0.050.00
Mission Ready Services0.35+0.015

 
24130


24041

FEATURED Property
21441123007 Shetland Road
$517,500
more details
Click here to feature your property
Please wait... loading


What I learned in China: Part 2

As per my previous article on my visit to China, we have much to learn about and from their people. It is potentially the largest market on earth with 1.3 billion people in one country but much will d...


Retirement: Health Issues

Our health is really our greatest asset and maintaining our health is of tremendous importance. You want to do what you can to ensure that health issues will not jeopardize the enjoyment of your retir...


Be quiet already!

No, you’re not crazy. There really are voices in your head. Voices that keep you from doing what you need to do during your customer care calls. It can be the voice of your teachers, your parent...

_



24158

24119


Member of BC Press Council


23370