US /Pfizer/ Sweetens Bid for /AstraZeneca/ to 117 Billion Dollars

New York, May 19 (QNA) – US pharmaceutical firm Pfizer Inc is mounting another attempt to take over British competitor AstraZeneca Plc, the company said Sunday.

A bid of 117 billion dollars is the final offer, Pfizer said, after previous offers had been rejected by AstraZeneca management.

“We have tried repeatedly to engage in a constructive process with AstraZeneca,” German News Agency (DPA) reported Pfizer chief executive Ian Read as saying.

“Following a conversation with AstraZeneca earlier today, we do not believe that the AstraZeneca board is currently prepared to recommend a deal at a reasonable price. We remain ready to engage in a meaningful dialogue but time for constructive engagement is running out.”
AstraZeneca employs 50,000 people worldwide, including 6,700 in Britain. Pfizer’s workforce of 70,000 includes 2,500 in Britain.

A previous offer of 106 billion dollars was turned down. (QNA)

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