Pfizer says it won't make an offer for British drugmaker AstraZeneca
NEW YORK, - Pfizer says it does not intend to make a takeover offer for British drugmaker AstraZeneca.
The announcement Monday comes a week after AstraZenecaâ€™s board rejected a proposed $119-billion buyout offer from Pfizer, the worldâ€™s second-biggest drugmaker by revenue.
Pfizer Chairman and CEO Ian Read says the companyâ€™s final proposal represented full value for AstraZeneca.
Pfizer, the maker of Lipitor and Viagra, has been courting No. 8 AstraZeneca since January, saying their businesses would be stronger together.
Pfizer had been waiting for AstraZeneca to engage in merger talks by a Monday deadline.
Pfizer has previously said it would not make a hostile takeover bid directly to AstraZenecaâ€™s stockholders.
Read more Business News
- Market welcomes liquor vendorsPenticton / S. Okanagan
- Crime and the newsVernon / N. Okanagan
- Tentative sale of Ric's GrillKelowna
- MV Okanagan gets hung upVernon / N. Okanagan
|QHR Technologies Inc||1.15||-0.02|
|Anavex Life Sciences||0.275||-0.005|
|Copper Mountain Mining||2.82||0.00|
|Sunrise Resources Ltd||0.05||+0.025|
|Mission Ready Services||0.19||+0.01|
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...
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...
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...