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AstraZeneca finds Pfizer bid a bitter pill to swallow

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April 28, 2014 astrazeneca, dr mick cooper, merger, pfizer, pharma, pharmaceutical sales, pharmaceuticals, pharmacies, shares, shares 2014, shares and tapering, shares down, shares drop, shares europe, shares prices, shares up, stock market, stocks, traders, tradingfloor.com

The boss of British pharmaceutical giant AstraZeneca, Pascal Soriot, has been emphasising the firm’s long term independent prospects, amid talk of a take-over by rival Pfizer.

Pfizer said it had made a move earlier this year but it looks as though AstraZeeneca is playing hard to get. Pfizer’s £46.61 per share deal now looks out of date, Astra shares rose around fifteen percent on Monday.

 

Dr. Mick Cooper from Edison Investment Research looks at the possible one hundred billion dollar deal and asks if these mega mergers actually offer long term value.