Why the government doesn’t need to protect Astrazeneca May 8, 2014 PFIZER’S bid for Astrazeneca is the biggest potential foreign takeover of a UK company ever, and the most controversial since Kraft’s successful acquisition of Cadbury in 2010. Politicians and much of the scientific establishment have called for the public interest test for takeovers – which now only permits the government to intervene when national security, [...]
Brand Index: Cadbury gives Pfizer and Astrazeneca taste of the future May 6, 2014 NEWS that American pharma giant Pfizer is pursuing the British-Swedish drugs firm Astrazeneca has set the business world alight. While the business cases of such deals can be straightforward, how consumers react to brands is not. To see how foreign takeovers can play out among the public, I have used YouGov’s BrandIndex tool to look [...]
We will not apologise for defending British worldbeaters like AstraZeneca May 5, 2014 Amid the speculation surrounding the potential takeover of UK pharmaceutical giant AstraZeneca by Pfizer, some facts are now known. Pfizer made an approach to take over AstraZeneca on 5 January 2014. The deal valued the company at around £60bn, which AstraZeneca rejected. On 26 April, Pfizer made a second approach, which AstraZeneca also rebuffed. A [...]
Six songs that tell the story of Pfizer’s courtship of AstraZeneca May 2, 2014 Earlier today, Astrazeneca officially rejected a second takeover approach from US rival Pfizer, saying the new terms of the £50 per share offer were "inadequate, substantially undervalue AstraZeneca and are not a basis on which to engage with Pfizer". In honour of the increasingly complex relationship between the two pharma giants, we've compiled a [...]
Pfizer confirms offer hike for AstraZeneca as it argues case to the PM May 2, 2014 Pfizer has upped its offer for UK drugs giant AstraZeneca by £3bn and has sent a letter to Prime Minister David Cameron outlining the benefits of such a deal. The drug company's improved offer amounts to £50 per share. Pfizer confirmed that should the deal go ahead it would establish corporate and tax residency in [...]
Glaxo boss not tempted to bid for AstraZeneca April 30, 2014 SHARES in British pharmaceuticals giant Glaxosmithkline slid more than two per cent yesterday after the firm revealed a 10 per cent drop in first-quarter sales, and its chief executive played down the chance of a so-called white knight bid for AstraZeneca. Sir Andrew Witty said he still prefers targeted transactions rather than mega-mergers. UK rival [...]
London Report: AstraZeneca has a healing effect on the FTSE 100 April 28, 2014 ASTRAZENECA shares surged to boost Britain’s top share index yesterday, after US rival Pfizer said it wanted to buy the drugmaker. The FTSE 100 closed just off a seven-week closing high after a volatile afternoon session as investors digested new sanctions on Russia from the US. AstraZeneca jumped 14.4 per cent after Pfizer confirmed yesterday [...]
AstraZeneca speaks out: Pfizer bid “undervalued” company April 28, 2014 AstraZeneca has responded to the announcement from Pfizer this morning regarding a second takeover bid from the US pharma giant. The UK firm has said that the initial bid, made by Pfizer in January, “very significantly undervalued” it and its prospects. It was also concerned about the size of the share component of the bid, [...]
Pfizer confirms takeover interest in AstraZeneca April 28, 2014 US drugs maker Pfizer has confirmed it’s approached UK rival AstraZeneca regarding a possible takeover bid. Shares in the latter have leapt 15 per cent on the announcement. Pfizer says the deal would "bring together highly complementary businesses, enhancing the combined company's ability to meet patients' needs." Shareholders would see “a significant premium” on the [...]
AstraZeneca keeps schtum on Pfizer approach as profits plunge April 24, 2014 The UK’s second-largest drugs firm has announced its quarterly earnings this morning, making no mention of the reported £60bn bid approach from US pharma giant Pfizer. AstraZeneca said profit before tax fell 50 per cent to $638m (£380m) in the first quarter of 2014, from $1.3bn a year earlier, as it felt the loss of [...]