Connecting to LinkedIn...

W1siziisijiwmtuvmdqvmtuvmdgvntqvmzgvnzi1l01ptlrbu0hfqkxpr19vtljftkrfukvex0lnqudfx3jlc2l6zwrfyw5kx3jlbmrlcmvklmpwzyjdlfsiccisinrodw1iiiwimtkymhgxmjuwiyjdxq

Blog

Pfizer walks away from $118 billion AstraZeneca takeover fight

27/05/2014 by

W1siziisijiwmtqvmtavmjgvmtuvndavntevnzkvzmlszsjdlfsiccisinrodw1iiiwinjawedqwmfx1mdazzsjdxq


Pfizer abandoned its attempt to buy AstraZeneca for nearly 70 billion pounds on Monday as a deadline approached without a last-minute change of heart by the British drugmaker.

The decision ends a month-long public fight between two of the world’s biggest pharmaceutical companies that sparked political concerns on both sides of Atlantic over jobs and corporate tax manoeuvres.

British rules now require an enforced cooling-off period. AstraZeneca could reach out to Pfizer after three months and Pfizer could take another run at its smaller British rival in six months time, whether it is invited back or not.

Pfizer’s move came two hours before a 5.00 pm deadline to make a firm offer or walk away, under UK takeover rules. Its decision to quit the stage, at least for now, had been widely expected after AstraZeneca refused its final offer of 55 pounds a share.

“Following the AstraZeneca board’s rejection of the proposal, Pfizer announces that it does not intend to make an offer for AstraZeneca,” Pfizer said in a short news release.

The biggest U.S. drugmaker promised it would not go hostile by taking its offer directly to AstraZeneca shareholders, leaving the fate of what would have been the world’s largest ever drugs merger in the hands of its target, whose board would have had to make a complete U-turn to get a deal done.

This article has been extracted from http://uk.reuters.com, please click on this link to read the article in full http://uk.reuters.com/article/2014/05/27/uk-astrazeneca-pfizer-idUKKBN0E61AH20140527

Montash is a multi-award winning, global IT recruitment firm. Specialising in permanent and contract positions across mid-senior appointments which cover a wide range of industry sectors and IT functions, including:

ERP, BI & Data, Information Security, IT Architecture & Strategy, Scientific Technologies, Demand IT and Business Engagement, Digital and E-commerce, Infrastructure and Service Delivery, Project and Programme Delivery.

With offices based in London, Montash has completed assignments in over 30 countries and has appointed technical professionals from board level to senior and mid-management in permanent and contract roles.

comments powered by Disqus

Social Stream

Latest News

W1siziisijiwmtcvmdevmtyvmdkvntivmdgvotu5l0nhcmvlci5qcgcixsxbinailcj0ahvtyiisijm4mhgxmdajil1d

What are your career resolutions for 2017?

2017-01-16 09:00:00 +0000

The new year is traditionally a time to make resolutions for personal growth, but how about for your career? Setting goals is important because they provide a map for your career, helping you to organise your time, effort and resources on getting where you want to be. On a broader scale, having obtainable objectives can increase your job satisfaction, boost your self-esteem and improve your overall wellbeing. So, let’s take a look at the resolutions tha...

W1siziisijiwmtcvmdevmtmvmtevmtyvntmvmta1l0j1c2luzxnzieludgvsbglnzw5jzs5qcgcixsxbinailcj0ahvtyiisijm4mhgxmdajil1d

Business Intelligence trends for 2017

2017-01-13 11:00:00 +0000

Business Intelligence (BI) has evolved a lot in recent years, with most experts understanding that it is now far more than just data reporting. There remains a role for data scientists to play when it comes to analysing information, but it’s also increasingly important for every employee in a firm to be able to not only access data but also analyse it. During 2016, there was a wave of new self-service analytical tools developed across sectors, enabling ...