AstraZeneca rejects Pfizer takeover offer
2nd May 2014 12:08
Late on Friday morning at 11:00, AstraZeneca issued a statement saying that Pfizer's sweetened takeover proposal, presented only a few hours earlier, did not provide a basis "on which to engage with Pfizer". That followed a meeting of the Anglo-Swedish group's board which found that the financial a
Read moreLondon midday: RBS and IHG rise, but markets cautious ahead of US data
2nd May 2014 11:48
- Markets rangebound ahead of US jobs report - FTSE 100 at highest in two months - Ukraine tensions limit gains - RBS doubles pre-tax profits in first quarter - IHG unveils special divi after strong start techMARK 2,793.80 +0.19% FTSE 100 6,818.58 +0.14% FTSE 250 15,922.13 +0.45% Strong gains from
Read moreAstraZeneca to meet and discuss Pfizer proposal
2nd May 2014 09:34
AstraZeneca issued a statement on Friday acknowledging the receipt of Pfizer's non-binding proposal. "The board of AstraZeneca will meet to discuss the proposal and a further announcement will be made when appropriate. "There can be no certainty that any offer will be made or as to the terms of an
Read moreWednesday newspaper round-up: AstraZeneca, Housing market, Alstom
30th Apr 2014 06:58
The head of Pfizer has jetted into London to begin a whistlestop tour of City institutions as the American drugs company scrambles to drum up support for a hostile £58.7bn takeover of AstraZeneca. Ian Read's arrival for a 48-hour tour of fund management firms underlined the urgency of Pfizer's inten
Read moreBroker tips: BP, AstraZeneca, Serco, Telecity
29th Apr 2014 12:48
Investec kept a 'hold' stance on oil major BP, but said that the company's first-quarter trading update showed a 'solid start to the year'. "We do not expect any major changes to either our forecasts or consensus. BP is trading broadly in line with the sector which, given current Russian risk, look
Read moreLondon midday: FTSE at eight-week high on UK data, M&A speculation
29th Apr 2014 11:26
- FTSE 100 at highest since March 6th - UK GDP picks up, economic sentiment rises - Serco plummets after profit warning - Shire gains on potential takeover from Allergan techMARK 2,805.40 +1.25% FTSE 100 6,745.78 +0.68% FTSE 250 15,903.02 +0.49% A decent improvement in UK economic data and continu
Read morePanmure upgrades AstraZeneca on hopes of higher bid from Pfizer
29th Apr 2014 09:52
Panmure Gordon has upgraded its recommendation for AstraZeneca from 'hold' to 'buy', saying that a potential takeover by US pharmaceutical peer Pfizer is likely. The broker has hiked its target price for the stock from 3,900p to 5,400p. Pfizer confirmed on Monday that it had approached AstraZeneca
Read moreLondon close: FTSE closes above 6,700 despite sanctions on Russia
28th Apr 2014 16:59
- FTSE closes up 14.47 at 6,700.19 - AstraZeneca drives index higher - US imposes sanctions on Russia - China's Politburo signals no new large-scale easing ahead techMARK 2,770.82 +0.83% FTSE 100 6,700.16 +0.22% FTSE 250 15,826.24 -0.39% UK stocks closed modestly higher today, driven by AstraZene
Read moreFTSE 100 movers: AstraZeneca soars on Pfizer bid interest
28th Apr 2014 14:40
AstraZeneca was the day's stand-out performer, up by more than 15 per cent this afternoon after US pharma giant Pfizer confirmed that it had made a 'preliminary, non-binding indication of interest' regarding a possible merger in January. The 60bn pound proposal was rejected by AstraZeneca's board bu
Read moreAstraZeneca says Pfizer offer 'very significantly' undervalues company
28th Apr 2014 14:40
- Pfizer bid 'very significantly' undervalues company - Pfizer offered to pay 46.61 pound per shares, 30 per cent in cash - No contacts had been held since January 15th - No new proposal has been made AstraZeneca has not received any further offer from Pfizer nor held concrete contact talks with th
Read moreSector movers: M&A boosts pharma sectors as AstraZeneca soars
28th Apr 2014 14:07
M&A activity was continuing to drive the global pharmaceutical sector higher today after Pfizer confirmed it was working on its next move after its first tentative approach for AstraZeneca in January was rejected. Shares in the Anglo-Swedish group were up around 15% at 4,705p in afternoon trade af
Read moreLondon midday: AstraZeneca leads stocks higher, but traders cautious
28th Apr 2014 11:53
- AstraZeneca jumps as Pfizer confirms interest - US announces new sanctions on Russian officials - Japanese retail sales surge, but analysts still cautious - BG Group drops after CEO exit, update - Premier Oil rejects Ophir merger approach techMARK 2,788.13 +1.46% FTSE 100 6,708.87 +0.35% FTSE 250
Read moreLondon open: FTSE 100 rises as AstraZeneca jumps
28th Apr 2014 08:33
- AstraZeneca jumps as Pfizer confirms interest - Pharma stocks outweigh weakness in basic resource shares - Japanese retail sales surge, but analysts still cautious - BG Group drops after CEO exit, update techMARK 2,780.12 +1.17% FTSE 100 6,700.83 +0.23% FTSE 250 15,848.32 -0.25% UK markets edge
Read morePfizer confirms interest in a possible merger with AstraZeneca
28th Apr 2014 08:25
On Monday US pharmaceuticals group Pfizer confirmed prior discussions with AstraZeneca regarding a "possible combination" and its continuing interest in a possible merger. Pfizer's previous proposal to the board of AstraZeneca on January 5th 2014 included a mix of cash and shares in the combined
Read moreLondon pre-open: FTSE set for decent start to busy week
28th Apr 2014 07:42
UK stocks are set for a decent start ahead of what is expected to be a busy week, despite a less-than-impressive finish in the US on Friday and an uninspiring performance by Asia stocks overnight. City sources predict the FTSE 100 will open around 20 points above Friday's close of 6,685.69. US st
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