Natalie Parkinson
All posts from Natalie Parkinson
Natalie Parkinson in Natalie Parkinson,

Pfizer confirms proposing $98.7 billion AstraZeneca deal

Pfizer Inc. proposed buying AstraZeneca Plc for about 58.8 billion pounds ($98.7 billion) in what would rank as the biggest-ever U.K. takeover and continues to be interested in a deal after getting spurned.

Pfizer offered 46.61 pounds a share in cash and stock for London-based AstraZeneca last January, and AstraZeneca declined to pursue negotiations, the New York-based company said in a statement today. The proposal is about 14 percent above the April 25 close for AstraZeneca. The stock today climbed above that price, gaining the most in more than two decades.