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Actionable news in TEVA: TEVA PHARMACEUTICAL INDUSTRIES LIMITED AMERICAN DEPOSITARY SHARES,

Potential AstraZeneca C-Suite Shuffle Rekindles Takeover Chatter

AstraZeneca plc (AZN) shares are down after rumors began swirling that its CEO Pascal Soriot is on his way to Israel's Teva Pharmaceutical Industries Ltd. (TEVA) ahead of key drug information release.

But amid the rumors of his departure, which comes as AstraZeneca is ready to release key data for its Mystic oncology program, there is a murmur that if Soriot jumps ship the company could be susceptible to a takeover.

"His exit would leave [AstraZeneca] rudderless in the wake of several other recent departures," wrote Seamus Fernandez of Leerink Partners in a note Thursday, echoing the sentiment of several other analysts. "In a best case scenario, we could see a change in management as an opening to a potential merger."

According to Calcalist, an Israeli business website, Soriot met with Teva's search committee and chairman and agreed to take the position, which comes with a salary nearly double Teva's last CEO's, which was $5.7 million, plus a signing bonus of $15 million to $20 million...


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