Pfizer Inc's chief financial officer on Wednesday said his company failed in its attempted $118 billion takeover of AstraZeneca Plc because they could not agree on the value of the British drugmaker. Pfizer CFO Frank D'Amelio, speaking to the Goldman Sachs annual healthcare conference outside Los Angeles, said the deal was not consummated because of the price."The CFO said price was the barrier," which made some people think a deal can still be worked out, said ISI Group analyst Mark Schoenebaum.AstraZeneca shares closed up 1.2 percent in London, while Pfizer shares were little changed on the New York Stock Exchange.After being rebuffed three times by AstraZeneca, including the final offer, Pfizer on May 26 officially abandoned its six-month quest to purchase its smaller rival. The deal would have restored New York-based Pfizer to the status of world's biggest pharmaceutical company.
AstraZeneca PLC (AstraZeneca) is a global biopharmaceutical company. Shares of AZN traded higher by 1.51% or $1.0997/share to $73.90. In the past year, the shares have traded as low as $46.87 and as high as $82.68. On average, 5213620 shares of AZN exchange hands on a given day and today's volume is recorded at 4334753.
Pfizer Inc. (Pfizer) is a research-based, global biopharmaceutical company. Shares of PFE fell by 0.15% or $-0.045/share to $29.46. In the past year, the shares have traded as low as $27.33 and as high as $32.96. On average, 30622100 shares of PFE exchange hands on a given day and today's volume is recorded at 9226515.
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