AstraZeneca appears to set bid price at £58-a-share

AstraZeneca has suggested it would have welcomed a bid of £58-a-share after rejecting the offer of £55-a-share by US drug firm Pfizer, ITV News Business Editor Joel Hills reports:

8770f0d680420a759927c206792bba68_normal

AstraZeneca rebuffs "final" offer of £55/share but seems to suggest that it would have recommended a bid of £58+ to shareholders.

8770f0d680420a759927c206792bba68_normal

Pfizer has said its bid is "final" and won't go hostile, its only hope now is if AstraZeneca's shareholders rebel against the board.

8770f0d680420a759927c206792bba68_normal

AstraZeneca's shares closed Friday at £48, before "first contact" were £35. Market opens at 08.00

Advertisement

Pfizer admits defeat on AstraZeneca bid

US pharmaceuticals giant Pfizer has called off its multi-billion pound bid to take over British-Swedish firm AstraZeneca. The decision came after AstraZeneca's board declined an offer worth almost £70bn.