Skip to main content
Advertising

Originally published Tuesday, May 20, 2014 at 6:40 AM

  • Share:
           
  • Comments (0)
  • Print

AstraZeneca shareholder urges Pfizer rethink

AstraZeneca shareholder Schroders has urged the pharmaceutical firm to reconsider its rejection of a takeover offer from U.S. drugmaker Pfizer.


advertising

LONDON —

AstraZeneca shareholder Schroders has urged the pharmaceutical firm to reconsider its rejection of a takeover offer from U.S. drugmaker Pfizer.

The fund manager, which holds a 2 percent stake in AstraZeneca, is the biggest shareholder to call publicly for renewed takeover talks.

Schroders said Tuesday it "notes with disappointment the quick rejection by the AstraZeneca board of the latest offer from Pfizer." It urged AstraZeneca management "to recommence their engagement with Pfizer, and subsequently their shareholders."

The board of AstraZeneca this week rejected an improved $119 billion takeover offer from Pfizer, saying it significantly undervalued the company and its drug portfolio.

Under British takeover rules Pfizer has until Monday to submit a new offer, but it has said it won't raise its offer again or launch a hostile takeover bid.



Want unlimited access to seattletimes.com? Subscribe now!

News where, when and how you want it

Email Icon

Meet the winemakers

Meet the winemakers

View video interviews, conducted by The Seattle Times wine writer Andy Perdue, profiling five of our state's top winemakers.

Advertising

Advertising


Advertising
The Seattle Times

The door is closed, but it's not locked.

Take a minute to subscribe and continue to enjoy The Seattle Times for as little as 99 cents a week.

Subscription options ►

Already a subscriber?

We've got good news for you. Unlimited seattletimes.com content access is included with most subscriptions.

Subscriber login ►
The Seattle Times

To keep reading, you need a subscription upgrade.

We hope you have enjoyed your complimentary access. For unlimited seattletimes.com access, please upgrade your digital subscription.

Call customer service at 1.800.542.0820 for assistance with your upgrade or questions about your subscriber status.

The Seattle Times

To keep reading, you need a subscription.

We hope you have enjoyed your complimentary access. Subscribe now for unlimited access!

Subscription options ►

Already a subscriber?

We've got good news for you. Unlimited seattletimes.com content access is included with most subscriptions.

Activate Subscriber Account ►