Pfizer’s pursuit of AstraZeneca was hanging by a thread yesterday after its “final” £69.4bn offer was rejected by the UK company, sparking recriminations between the rival drugmakers and shareholders.
Leif Johansson, AstraZeneca chairman, said Pfizer had “failed to make a compelling strategic, business or value case” for a deal that would be the biggest foreign takeover of a UK group and one of the biggest in drug industry history.
Pfizer had earlier ruled out a hostile bid and said it would walk away if AstraZeneca refused to open friendly talks over its £55 per share proposal.
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