AstraZeneca: Will Pfizer Come Knocking Again?
- AstraZeneca tumbles on MYSTIC trial results.
- With AstraZeneca losing $10 billion in market capitalization in a single day, an opportunistic bid could come for the British drugmaker.
- Pfizer, however, is unlikely to relaunch its bid.
By S. Mitra, MBA (ISB)
The takeover battle between AstraZeneca (NYSE:AZN) and Pfizer (NYSE:PFE) is pretty well known. In 2014, Pfizer launched a takeover bid for AstraZeneca. The offer was immediately rejected by AstraZeneca, which said that it could generate more value for shareholders as a standalone company. Pfizer raised its offer three times only to be rejected by the British drugmaker on each of the three occasions. Eventually, Pfizer backed out. With AstraZeneca suffering a setback, the question is whether Pfizer would relaunch its bid.
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