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U.S. pharma group Pfizer has confirmed that it made a $99-billion (U.S.) cash-and-stock approach for its AstraZeneca in January, and is now renewing its suit.
U.S. pharma group Pfizer has confirmed that it made a $99-billion (U.S.) cash-and-stock approach for its AstraZeneca in January, and is now renewing its suit.
(ADAM HUNGER/REUTERS)

Pfizer needs to ante up if it’s serious about AstraZeneca

Pfizer will need to pile on more pressure if it wants to buy AstraZeneca. The U.S. pharma group has confirmed that it made a $99-billion (U.S.) cash-and-stock approach for its U.K. peer in January, and is now renewing its suit. Astra chief executive officer Pascal Soriot may ultimately struggle to resist a takeover, but he ought to be able to extract a better proposal.