Pfizer Proposes $98.7 Billion AstraZeneca Deal

Pfizer Inc. (PFE) proposed buying AstraZeneca Plc (AZN) for about 58.8 billion pounds ($98.7 billion) in what would rank as the biggest-ever U.K. takeover and continues to be interested in a deal after getting spurned. Pfizer offered 46.61 pounds a share in cash and stock for London-based AstraZeneca last January, and AstraZeneca declined to pursue negotiations, the New York-based company said in a statement today. The proposal is about 14 percent above the April 25 close for AstraZeneca. A Pfizer acquisition of the U.K.'s No. 2 pharmaceutical company would be one of the largest takeovers in the industry's history.



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