Pfizer Back For AstraZeneca? Year-end Move Seen Most Likely
Shares in drugmaker AstraZeneca have climbed more than 7 percent this week, fueled by speculation of renewed takeover interest from Pfizer, following an abortive $118 billion takeover attempt in May. But while British takeover rules mean deal talks could be back on the cards as early as August 26th, following the ending of the first of a two-stage cooling-off period, many investors and analysts see the year-end as a more likely time for any return. Dan Mahony, a fund manager at Polar Capital, who increased his stake in AstraZeneca last year, said “I’m not expecting anything next week.”
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