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Monday, April 28, 2014

Pfizer offered to purchase AstraZeneca

In January for £46.61 ($76.62) a share in cash and stock, with the proposal representing a 30% premium on AstraZeneca's (AZN) shares at the time. The U.K. company turned the offer down, explaining that it "significantly undervalued AstraZeneca and its prospects." Pfizer (PFE) again approached AstraZeneca on Saturday and was rebuffed a second time, and is now "considering its options." AstraZeneca's shares were +15% premarket at $78.54.

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