Deals
Pfizer Takeover Is ‘Not Inevitable,’ AstraZeneca CEO Says
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AstraZeneca Plc Chief Executive Officer Pascal Soriot said a sale of the U.K. drugmaker is “not inevitable,” increasing pressure on Pfizer Inc. to raise its 60.4 billion-pound ($101 billion) offer to kick-start talks.
“The price is really far from what we think the value of the company is,” Soriot said today in a telephone interview. Because Pfizer is offering stock as part of the deal, AstraZeneca would also need assurances about the future of the new company before agreeing to negotiate, he said.