Deals
Investors Bet AstraZeneca Megamerger Could Live Again
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AstraZeneca Plc’s stock has been rising for two weeks on growing expectations the British drugmaker will re-engage in merger negotiations with Pfizer Inc. after the partial expiration of a cooling-off period.
The two sides walked away from a 69.5-billion-pound ($116 billion) deal in May after failing to reach an agreement on price. Under the U.K.’s takeover rules, AstraZeneca or New York-based Pfizer now can take the first steps toward a renewed deal. AstraZeneca’s shares have gained 12 percent since the close of trading Aug. 15, a move analysts and investors attribute to bets negotiations might be revived.