AstraZeneca shares fall after Pfizer walks away from deal

28th May 2014

Pfizer concedes defeat after £55 a share offer was rejected last week by the AstraZeneca board

AstraZeneca shares fell on Tuesday after its spurned American suitor Pfizer walked away from a £69.4bn takeover attempt. Pfizer conceded defeat shortly before a deadline on Monday afternoon to turn its offer into a formal bid. The New York-based Viagra maker made a “take it or leave it” offer of £55 a share just over a week ago which, like its previous three offers, was promptly rejected.

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