It looks like it’s all off.
Bloomberg reported Monday that Pfizer Inc., the biggest drugmaker in the United States, is giving up on its US$117 billion bid to buy London-based AstraZeneca Plc.
The report cited an unnamed person familiar with the plan as saying that Monday’s deadline for Pfizer to make a firm offer is almost certain to lapse, putting an end for now to what would have been the industry’s biggest deal.
“The probability of a future AstraZeneca acquisition is dimmed, but not entirely extinguished,” Mark Purcell, an analyst with Barclays Plc, said in a note to clients.
For talks to begin anew after three months, AstraZeneca must invite the discussion, the report said.
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