Pfizer confirms desire to buy AstraZeneca

Written By Unknown on Senin, 28 April 2014 | 21.03

A Pfizer bid for AstraZeneca would be one of the largest ever pharmaceuticals deals. The renewed approach comes amid a wave of mergers and acquisitions in the sector.

US drugmaker Pfizer made a bid approach to  AstraZeneca in January and contacted its British rival again on April 26 seeking to renew discussions about a takeover, the US firm said on Monday.

A Pfizer bid for AstraZeneca would be one of the largest ever pharmaceuticals deals . The renewed approach comes amid a wave of mergers and acquisitions in the sector.

In a statement to the London stock market, Pfizer said AstraZeneca had declined to engage in discussions on both occasions and the US group said it was now considering its options.

Pfizer's original proposal, made to the board of AstraZeneca on Jan. 5, included a combination of cash and shares and would have valued AstraZeneca's shares at 46.61 pounds (USD 76.62) each - a premium of around 30 percent at the time.

Pfizer said it was now considering a possible transaction in which AstraZeneca shareholders would again receive a significant premium for their shares.

Shares in the British group closed at 40.80 pounds on Friday, valuing it at 51.5 billion pounds (USD 86.58 billion).

(USD 1 = 0.5948 British Pounds)

Pfizer stock price

On April 28, 2014, Pfizer closed at Rs 1297.85, down Rs 4.35, or 0.33 percent. The 52-week high of the share was Rs 1779.00 and the 52-week low was Rs 985.00.


The company's trailing 12-month (TTM) EPS was at Rs 74.72 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 17.37. The latest book value of the company is Rs 567.81 per share. At current value, the price-to-book value of the company is 2.29.


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