AstraZeneca's board said on Friday it had rejected an improved $106 billion takeover offer from US drugmaker Pfizer, saying the bid which was announced just hours ago
undervalued the firm.
"Pfizer's proposal would dramatically dilute AstraZeneca shareholders' exposure to our unique pipeline and would create risks around its delivery," Chairman Leif Johansson said.
"As such, the board has no hesitation in rejecting the proposal."
Source:
© Copyright 2024 Reuters Limited. All rights reserved. Republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.
AstraZeneca's board said on Friday it had rejected an improved $106 billion takeover offer from US drugmaker Pfizer, saying the bid which was announced just hours ago