1st May 2014 15:55
LONDON (Alliance News) - Pfizer Inc is preparing to sweeten its bid for AstraZeneca PLC to more than GBP63 billion, or USD$106 billion, in an attempt to lure the U.K.?s second-biggest drugmaker to the negotiating table, Bloomberg reported Thursday, citing people with knowledge of the matter.
The offer may value AstraZeneca at more than 50 pounds a share and include a larger cash component, and could come as early as next week, the newswire reporting, citing the people who asked not to be identified discussing confidential information.
The new bid and its timing aren?t final and may change, two of the people told Bloomberg. After speaking with some AstraZeneca shareholders, Pfizer sees an offer in the low 50 pound-per-share range gaining their support for the companies to hold talks, it quoted them as saying.
Bloomberg said a Pfizer spokeswoman declined to comment. An AstraZeneca spokeswoman declined to comment until it officially sees an offer.
http://www.bloomberg.com/news/2014-05-01/pfizer-said-to-plan-sweetening-astrazeneca-bid-with-cash.html
By Steve McGrath; [email protected]; @stevemcgrath1
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