US drugmaker Pfizer said Monday it is calling off its controversial bid to acquire British rival AstraZeneca. The announcement came after a 69.4 billion-pound ($116.8 billion) offer rejected by AstraZeneca last week.
“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 statement.
Pfizer CEO Ian Read said his company's last offer represented what he believed to be the full value of the company.
Leif Johansson, chairman of AstraZeneca, said he was pleased with the retreat.
“We welcome the opportunity to continue building on the momentum we have already demonstrated as an independent company,” Johansson said.
rEAD MORE; Pfizer calls it quits on AstraZeneca | Business | DW.DE | 26.05.2014
“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 statement.
Pfizer CEO Ian Read said his company's last offer represented what he believed to be the full value of the company.
Leif Johansson, chairman of AstraZeneca, said he was pleased with the retreat.
“We welcome the opportunity to continue building on the momentum we have already demonstrated as an independent company,” Johansson said.
rEAD MORE; Pfizer calls it quits on AstraZeneca | Business | DW.DE | 26.05.2014
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