Hints and tips:
...Rivals AstraZeneca, Johnson & Johnson, Russia’s Sputnik V and new entrants such as Novavax make up the remainder of the market, which is forecast to double in value to $124bn next year....
...The AU will pay $6.75 a dose for the BioNTech/Pfizer vaccine and $10 for Johnson & Johnson’s, a single-dose product....
...After such strong reads from the first two releases (three if we count Russia’s Sputnik V), the disappointing AZN figures were perhaps bound to prompt downward pressure on the company’s shares....
...In August, Russia became the first country to approve a Covid-19 vaccine — named Sputnik V — for civilian use, but western experts cast doubt on its efficacy and safety....
..., Todd Leland, co-president of Goldman Sachs in Asia-Pacific excluding Japan, told the FT’s Don Weinland and George Hammond. The stage has already been set....
...Unlike recent attempted deals in the sector, such as Abbvie’s £35bn failed takeover of Shire and Pfizer’s abortive £69bn bid for AstraZeneca, this deal is not structured as a tax inversion....
...Now that Abbvie’s £35bn bid for Shire has collapsed and the chances of Pfizer making a fresh £69bn bid for AstraZeneca have greatly diminished, a sale to Actavis would also be the biggest takeover deal of...
...Those benefits will be sized up carefully by companies still considering inversions, such as Pfizer, which was in May rebuffed in a £69.4bn approach for the UK’s AstraZeneca....
...pushing legislation to limit inversions, following a series of tax-driven deals, including AbbVie’s takeover of Ireland-based drugmaker Shire, Liberty Media’s acquisition of UK-based Virgin Media, and Pfizer...
...As [Foreign Secretary Philip] Hammond says, without substantive change, the chances of exit grow....
...Pfizer revealed that it had made a further proposal of £53.50 a share – 40 per cent of it in cash – in a letter on Friday....
...It would also make the company less attractive to Pfizer, by denying it access to some future revenues in the event of a takeover....
...Pfizer declined to comment on Monday....
...The spread between Pfizer’s bid and AstraZeneca’s share price reflects both a fear that the deal will not happen and concerns over the proportion of Pfizer stock that an improved offer would include – the...
...Pfizer’s abortive $116bn bid for UK drugmaker AstraZeneca – the largest deal attempted in the year to date – was an attempt at such a deal....
...In Pfizer’s favour, that increase drops slightly to 15 per cent for healthcare deals of the same magnitude....
...● Pfizer’s tax motives....
...Mr Read made clear from the outset that Pfizer was not willing to move above £53.50....
...Pfizer, the drug company, failed in its $120bn bid to buy the UK’s AstraZeneca in a deal that would have allowed the Viagra maker to redomicile its headquarters overseas....
...This would make it the biggest pharma deal since Pfizer’s $111.8bn takeover of Warner-Lambert in 2000....
...To stress the importance of their response, AbbVie pointed to the example of AstraZeneca, the UK pharmaceutical company that in May fought off attention from US rival Pfizer – and has faced disgruntled shareholders...
...Shire is the second FTSE 100 drugmaker to be subjected to an unsolicited takeover attempt by a US rival this year after Pfizer’s failed £69.4bn bid for AstraZeneca....
...The return of blockbuster takeover attempts by some of the world’s biggest corporations including Pfizer, the US drugmaker, is contributing to the overall value of hostile mergers and acquisitions activity...
...AstraZeneca, the UK drugmaker which was the subject of a failed £69.4bn bid from Pfizer in May, was down 3.6 per cent, while Smith & Nephew, the UK medical devices maker considered to be another inversion...
...Pfizer wants to buy AstraZeneca, which has been linked with a move for Shire, which is reportedly wanted by Allergan, which is seeking to avoid a hostile takeover by Valeant....
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