AstraZeneca Tumbles on Rejected $116B Pfizer Takeover Bid

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AstraZeneca Tumbles on Rejected $116B Pfizer Takeover Bid

by TheStreet.com Videos 2:13 mins

AstraZeneca Tumbles on Rejected $116B Pfizer Takeover Bid

by TheStreet.com Videos 2:13 mins

Pfizer's final bid for AstraZeneca values the British drugmaker at £55 a share, or $116 billion, but AstraZeneca board rejects it. Pfizer says it won't go hostile, and AZN share price plunges to £42.05. London market falls, but is saved from harder landing by lift from airline shares. Irish budget carrier Ryanair's profits are down, but not as bad as expected. French rogue trader hands himself to police. Slowdown in Chinese property hits Asian markets and Australian miners, including London-listed Rio Tinto plc.

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