AstraZeneca rejects Pfizer's 'final' offer

May 19, 2014, 7:33 AM EDT
A general view of buildings and signage at the Macclesfield Campus of pharmaceutical company AstraZenica on May 7, 2014 in Macclesfield, United Kingdom.
AFP/Getty Images

Britain's AstraZeneca on Monday rejected a sweetened and "final" offer from Pfizer, undermining the U.S. drugmaker's plan for a merger to create the world's biggest pharmaceuticals group. The rebuff came nine hours after Pfizer said on Sunday it had raised its takeover offer to 55 pounds a share, or around 70 billion pounds ($118 billion) in total, and would walk away if AstraZeneca did not accept it.
Pfizer's 'final' offer rejected [Reuters]
AstraZeneca rejects 'final' offer from Pfizer [CNN]