AstraZeneca takeover window opens for Pfizer
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.