Pfizer Inc. increased its offer to purchase AstraZeneca Plc to $117 billion (69.4 billion pounds) in an attempt to get back the U.K. drugmaker to the table for acquisition talks.
The new deal involves cash-and-stock offer values the London-based AstraZeneca at 55 pounds per share, and is made up of 45 percent cash, more than Pfizer’s rejected May 2 offer of 50 pounds a share.
Pfizer hinted that the new figure was its final offer, and a hostile takeover was not part of their drawing card.
According to Bloomberg.com, “the new cash-and-stock offer values London-based AstraZeneca at 55 pounds a share, and is made up of 45 percent cash, more than New York-based Pfizer’s rejected May 2 offer of 50 pounds a share. Pfizer said the new figure was its final offer, and that it won’t take its bid hostile and attempt to woo AstraZeneca’s shareholders directly.”