Pfizer Ditches Sweetened Bid for Britain's AstraZeneca

Now watching

Next video starts in : 7 Play

Pfizer Ditches Sweetened Bid for Britain's AstraZeneca

Pfizer Ditches Sweetened Bid for Britain's AstraZeneca
Replay video
Up next

Community Episode 8: Intro to Recycled Cinema

Unlock your personal NFL Now stream by signing in to NFL.com

Pfizer Ditches Sweetened Bid for Britain's AstraZeneca

by TheStreet.com Videos 0:57 mins

Pfizer Ditches Sweetened Bid for Britain's AstraZeneca

by TheStreet.com Videos 0:57 mins

Pfizer withdrew its sweetened bid for AstraZeneca on Monday, ending a takeover saga that began back in January. The pharmaceutical giant's most recent bid for AstraZeneca, valued at £69.4 billion, or $117 billion, had received a mixed response from shareholders. Some critics looked down upon Pfizer's intentions to move its tax domicile to the U.K. from the U.S. following a transaction. Pfizer can't come back with another bid for AstraZeneca for six months, but the company is allowed to begin discussions in three months if the target initiates it.

Must Watch