As­traZeneca takeover win­dow opens for Pfizer

Macclesfield Express - - FRONT PAGE -

SPEC­U­LA­TION is mount­ing that drugs gi­ant Pfizer may make a fresh of­fer to buy As­traZeneca.

As­traZeneca, a phar­ma­ceu­ti­cal com­pany which has a fac­tory in Hurds­field, re­jected a buy out of­fer of £69bil­lion in May.

If they had ac­cepted it would have been the big­gest for­eign takeover of a Bri­tish com­pany.

Un­der takeover rules Pfizer could now lodge a pri­vate bid – given three months has now passed – while As­traZeneca could also in­vite the com­pany back into ne­go­ti­a­tions.

It comes af­ter As­traZeneca shares rose more than seven per cent last week.

A num­ber of As­traZeneca share­hold­ers were re­port­edly frus­trated that chief ex­ec­u­tive Pas­cal So­riot didn’t ne­go­ti­ate more with Pfizer ini­tially.

In terms of mak­ing a public bid – Pfizer wouldn’t be able to do that un­til around Novem­ber, which marks six months af­ter As­traZeneca re­jected its last of­fer.

As­traZeneca em­ploys 2,000 peo­ple at its Hurds­field fac­tory.

It’s re­search and devel­op­ment branch, cur­rently based at Alder­ley Park, is in the process of re­lo­cat­ing to Cam­bridge.

A spokesman for Pfizer re­fused to com­ment.

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