Pfizer eyes AstraZeneca for $100 billion acquisition

Written By limadu on Senin, 28 April 2014 | 15.30

pfizer

Pfizer is once again pursuing AstraZeneca.

HONG KONG (CNNMoney)

Pfizer (PFE, Fortune 500) said it made contact with AstraZeneca (AZN) on Saturday to renew acquisition discussions, the latest potential pairing in an industry gripped by a new wave of consolidation.

U.S.-based Pfizer said that AstraZeneca declined to engage when contacted over the weekend.

If a transaction is executed, Pfizer said the resulting company would be incorporated in Britain, but headquartered in New York and listed on the NYSE.

"Pfizer is currently considering its options with respect to AstraZeneca," the company said in a statement. "Pfizer believes the strategic, business and financial rationale for a transaction is compelling."

Related: Botox maker gets $46 billion bid

The proposal floated in January would have paid AstraZeneca owners $76.62 per share, a premium of around 30% over the company's stock price at the time.

At that price, the deal would be worth £58.7 billion, or around $98.6 billion.

Pfizer said Monday it remains willing to pay a "significant premium" over the company's closing share price on April 17. AstraZeneca shares rose as much as 15.5% in the first half hour of London trading following Pfizer's disclosure.

Pfizer's decision to go public with its desire could help force AstraZeneca to the negotiating table. To top of page

First Published: April 28, 2014: 3:59 AM ET


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