August 21, 2014

AstraZeneca share price falls 11 percent on Pfizer takeover doubt

The share price of UK drugs company AstraZeneca fell by 11.11pc on Monday, following the rejection of a ‘final’ takeover from Pfizer.

Pfizer made a ‘final’ offer of £55 per share, which valued AstraZeneca at approximately £69bn.

However, AstraZeneca rejected the new offer claiming that it undervalues the company.

Speculation indicates that AstraZeneca were hoping to receive an offer upward of £58 per share.

 

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