Loading...
Loading...
Pfizer Inc.
PFE is likely to boost its offer for British drug maker AstraZenica
AZN to $96.28 a share, an analyst said Tuesday.
SunTrust's John Boris said a deal would cut Pfizer's tax rate to 20 percent and said potential Treasury inversion action blocking such action is merely “election year rhetoric.”
The $127 billion offer envisioned by Boris would tack on 6.3 percent to its earlier bid of $120 billion takeover offer, which AstraZenica rejected back in mid-May
AstraZeneca's American Depositary Receipts were recently down 2 percent at $74.62 from Friday's high but were still up nearly 26 percent for the year.
Under British rules, AstraZeneca can starting Tuesday invite it back for talks or Pfizer can make a single "knock-out" bid which it believes would be accepted. Or Pfizer can start a more conventional bidding process over again beginning in November.
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
We simplify the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in