Friday, October 31st9.5°C
23696
23004

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

23015


Recent Trending




Today's Market
S&P TSX14575.94+117.25
S&P CDNX764.22-7.43
DJIA17353.56158.14
Nasdaq4622.471+56.333
S&P 5002012.18+17.53
CDN Dollar0.8865-0.0069
Gold1171.10-27.50
Oil79.98-0.92
Lumber324.50+0.90
Natural Gas3.715+0.066

 
Okanagan Companies
Pacific Safety0.115+0.005
Knighthawk0.01-0.005
QHR Technologies Inc1.19+0.04
Cantex0.045-0.015
Anavex Life Sciences0.18+0.0089
Metalex Ventures0.03-0.005
Russel Metals32.67+0.45
Copper Mountain Mining2.07+0.10
Colorado Resources0.12-0.02
ReliaBrand Inc0.012-0.004
Sunrise Resources Ltd0.05+0.025
Mission Ready Services0.39+0.015

 





FEATURED Property
2080937505 Stanley Crescent
4 bedrooms 3 baths
$499,999
more details
image2image2image2
Click here to feature your property
Please wait... loading


Empty nesting: financial issues

Now that the children have ‘left the nest’, it is a good time to step back and take stock of your financial situation. Being on your own will probably cut household costs to some extent, b...


Keep your haunted home safe

Eerie sounds, spooky lights and Jack-o’-lanterns aglow—extra efforts at Halloween will keep visitors coming back for both tricks and treats. However, to keep the fun going, it’s imp...


What I learned in China

Photo: ContributedI will never be an expert on China. It is just too big, too complex and too old with layers of history and meaning that would take several lifetimes to unravel. As I said to my hosts...

_








Member of BC Press Council


22632