Deals
AstraZeneca Rejects Pfizer $117 Billion Takeover Bid
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AstraZeneca Plc rejected another takeover offer from Pfizer Inc. as too low, leaving the companies in a stalemate over a deal that would create the world’s biggest drugmaker.
AstraZeneca shares plunged the most in almost 12 years in London trading, while Pfizer gained in New York. Now, any progress on an agreement is up to AstraZeneca, Pfizer said today. Yesterday, Pfizer offered to pay 69.4 billion pounds ($117 billion) to buy the London-based drugmaker.