AstraZeneca rejects Pfizer's raised bid of $106B

May 02, 2014, 7:17 AM EDT
Pfizer's pursuit of AstraZeneca, which would boost the American company's pipeline of cancer drugs, cut its tax bill and create significant cost savings, comes amid a wave of deal-making in the healthcare sector.
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U.S. drugmaker Pfizer Inc raised its offer for AstraZeneca Plc to 63 billion pounds ($106 billion) on Friday, but the British company promptly rejected the proposal, which would create the world's biggest pharmaceuticals company. Pfizer's pursuit of AstraZeneca, which would boost the American company's pipeline of cancer drugs, cut its tax bill and create significant cost savings, comes amid a wave of deal-making in the healthcare sector.
Background:
AstraZeneca rejects Pfizer's raised bid of $106 billion [BBC]
AstraZeneca Rejects Pfizer Bid [WSJ]

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