19th May 2014 05:45
LONDON (Alliance News) - AstraZeneca PLC is preparing to reject a GBP69 billion takeover bid by rival drugmaker Pfizer just hours after its US suitor said it would walk away if its offer were rebuffed, putting into doubt a deal that would be the largest foreign takeover of a UK company, the Financial Times reports.
The GBP55-per-share bid, raised from GBP50 two weeks ago, was viewed by key members of AstraZeneca?s management team and its board of directors as falling short of properly valuing the company, the newspaper said, citing people familiar with the matter.
http://www.ft.com/cms/s/0/3b5e8122-ded1-11e3-9640-00144feabdc0.html?siteedition=uk#axzz328aBnwTu
By Steve McGrath; [email protected]; @SteveMcGrath1
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