Pfizer Walks Away From $118 Billion AstraZeneca Deal
Pfizer said on Monday it had abandoned its current attempt to buy AstraZeneca for nearly $118 billion as a deadline approached without a last-minute change of heart by the British drugmaker. “Following the AstraZeneca board’s rejection of the proposal, Pfizer announces that it does not intend to make an offer for AstraZeneca,” Pfizer said in a short news release. Pfizer’s decision to quit the stage, at least for now, had been widely expected after AstraZeneca refused its final offer of 55 pounds a share.
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