Monday, August 31st15.0°C
27271
26033

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

26744


Recent Trending




Today's Market
S&P TSX13865.07+98.40
S&P CDNX555.67+10.10
DJIA16643.01-11.76
Nasdaq4828.32+15.62
S&P 5001988.87+1.21
CDN Dollar0.7536-0.0032
Gold1119.50-5.10
Oil44.46-0.76
Lumber237.20-9.70
Natural Gas2.664-0.051

 
Okanagan Companies
Pacific Safety0.165+0.005
Knighthawk0.010.00
QHR Technologies Inc1.29+0.05
Cantex0.04-0.01
Anavex Life Sciences1.34-0.05
Metalex Ventures0.055+0.000
Russel Metals21.41+0.43
Copper Mountain Mining0.64-0.01
Colorado Resources0.075-0.005
ReliaBrand Inc0.004-0.000
Sunrise Resources Ltd0.025+0.005
Mission Ready Services0.07+0.01
Decisive Dividend Corp2.75+0.14

 



26744

FEATURED Property
23621722455 Abbott Street
$749,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Agree to ask questions

Photo: Thinkstock.comThe STORY: I think, said Janet to herself, that I just figured out a solution to my problem of letting the prospect run the meeting.With that thought in mind, she got out of her c...


Your business is not a bank

Photo: Thinkstock.comYour plumbing business is not a bank. But when you are giving terms to customers that exceed what you get from your suppliers, you become one. And every time that someone does not...


Begin with the end in mind

Photo: ContributedWe humans love our dates: birthdays, anniversaries, 9/11, the Ides of March - our lives are intimately woven within the tapestry of the calendar. So it should come as no surprise whe...

_



27299

27298


Member of BC Press Council


24222