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Pfizer confirms $99bn AstraZeneca bid, continues courtship

This article was originally published in Scrip

Executive Summary

AstraZeneca's share price opened up 12.6% on 28 April after Pfizer confirmed that it had made a £58.7bn ($99bn) takeover bid for the UK firm. Pfizer is still keen to consummate a cash and shares merger, which would yield tax benefits, opportunities to cut costs, and a shared pipeline with new possibilities to develop combination products, for example in immuno-oncology.



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