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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.

http://www.bloomberg.com/news/2014-04-28/pfizer-confirms-proposing-98-7-billion-astrazeneca-deal.html