The Traderszone Network

Published in TZ Latest News 1 May, 2014 by The TZ Newswire Staff

Pfizer engages AstraZeneca with raised $106 billion offer

U.S. drugmaker Pfizer Inc has raised its offer for AstraZeneca Plc to 63 billion pounds ($106 billion), it said on Friday, adding that the British drugmaker was reviewing the proposal. Pfizer’s pursuit of AstraZeneca to create the world’s biggest pharmaceuticals company comes amid a wave of deal-making in the healthcare sector. The 50 pounds ($84.47) a share indicative offer comes after AstraZeneca had rebuffed a proposal valuing it at $98.9 billion, or 46.61 pounds per share. Buying AstraZeneca would boost Pfizer’s pipeline of cancer drugs and create significant cost and tax savings.