U.S. drugmaker Pfizer Inc has raised its offer for AstraZeneca Plc to 63 billion pounds ($106 billion), a deal that would create the world's biggest pharmaceuticals company.Pfizer's pursuit of AstraZeneca, which would boost the American company's pipeline of cancer drugs, cut its tax bill and create significant cost savings, comes amid a wave of deal-making in the healthcare sector.The U.S. group would much prefer an agreed deal with its rival, since hostile takeovers typically take longer, require a higher final price and carry more risks because the bidder cannot access the target's books to assess its business.Friday's 50 pounds ($84.47) a share indicative offer follows AstraZeneca's decision to rebuff an earlier proposal that valued it at 58.8 billion pounds, or 46.61 pounds per share.
AstraZeneca PLC (AstraZeneca) is a global biopharmaceutical company. Shares of AZN traded higher by 2.58% or $2.04/share to $81.09. In the past year, the shares have traded as low as $46.87 and as high as $82.68. On average, 3321590 shares of AZN exchange hands on a given day and today's volume is recorded at 13082370.
Pfizer Inc. (Pfizer) is a research-based, global biopharmaceutical company. Shares of PFE fell by 0.42% or $-0.13/share to $31.15. In the past year, the shares have traded as low as $27.12 and as high as $32.96. On average, 29318400 shares of PFE exchange hands on a given day and today's volume is recorded at 41507996.
Source
