Pfizer Plans to Increase Offer for AstraZeneca

May 13, 2014


According to an article in Bloomberg, Pfizer Inc. is planning to sweeten its bid for U.K. rival AstraZeneca Plc for a second time, people with knowledge of the matter said. Pfizer and its advisers are said to be crafting a new offer that would increase the value modestly above the current 50 pounds-a-share (about $84) level while bumping the cash portion, according to two of the people, who asked not to be identified. Pfizer is putting together a sweetened offer before it considers whether to make a hostile takeover attempt by bringing its proposal directly to AstraZeneca’s shareholders, the people said. Read the full story