Friday, July 25th25.0°C
22716
21953

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

21723


Recent Trending




Today's Market
S&P TSX15455.04+60.59
S&P CDNX1017.445.79
DJIA16960.57-123.23
Nasdaq4449.564-22.543
S&P 5001978.34-9.64
CDN Dollar0.9247+0.0002
Gold1294.80+4.2001
Oil104.30-0.29
Lumber326.00+0.20
Natural Gas3.783-0.064

 
Okanagan Companies
Pacific Safety0.185-0.015
Knighthawk0.01-0.005
QHR Technologies Inc1.15-0.02
Cantex0.07-0.01
Anavex Life Sciences0.275-0.005
Metalex Ventures0.08+0.01
Russel Metals35.36-0.21
Copper Mountain Mining2.820.00
Colorado Resources0.21+0.005
ReliaBrand Inc0.10+0.019
Sunrise Resources Ltd0.05+0.025
Mission Ready Services0.19+0.01

 



21723

FEATURED Property
19267741321 Lsoeth Drive
4 bedrooms 3 baths
$474,900
more details
image2image2image2
Click here to feature your property
Please wait... loading


Geopolitical tensions rattle markets

The Big Picture Geopolitical tensions rattle markets The spectre of rising geopolitical tensions in Ukraine and Gaza cast a shadow over an otherwise positive week in the markets. News that a passenger...


Labour shortage in BC

The mainstream media are finally waking up to something unusual in British Columbia – a labour shortage. If the experience of Alberta is a guide to our own future, the highly skilled labour will...


Learn to delegate effectively

Photo: ContributedI have the pleasure of witnessing people delegate tasks quite often. Sometimes with tremendous success and sometimes with disastrous consequences. I have chaired a lot of committees...

_








Member of BC Press Council


22097