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Astrazeneca Share Price - AZN

Share Name Share Symbol Market Type Share ISIN Share Description
Astrazeneca LSE:AZN London Ordinary Share GB0009895292 ORD SHS $0.25
  Price Change Price Change % Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +36.00 +0.88% 4,120.00 4,100.00 4,101.00 4,120.00 4,039.50 4,088.50 2,335,482 16:35:08
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m) RN NRN
Pharmaceuticals & Biotechnology 16,751.4 799.9 62.9 64.5 52,044.60

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Date Time Title Posts
30/8/201515:49AstraZeneca1,101
23/1/201521:39AZN -TIME TO BUY ?5,018
23/9/201413:05*** AstraZeneca *** 69
23/8/201411:59AZN.... excellent chart!3,035
22/8/201414:04AstraZeneca (AZN) Bid speculation revives-

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DateSubject
02/5/2014
08:43
harvester: Share price below indicative offer since not all cash offer and risk of pfizer share price weakening as well as risk of the deal failing . AZN share price closed last night at 4851 up 151 based on suspicious after hours trades . At normal market close the share price was 4676.5 . Big money at stake. Hence bound to be some insider trading going on .
22/4/2014
12:06
miata: Morgan Stanley Despite PFE's downsizing efforts and AZN's high patent exposure, we think a potential deal could benefit PFE and support AZN shares. It would give PFE access to AZN's diabetes, respiratory and immuno oncology assets while reinforcing PFE's dominant position in China. In line with historical transactions we estimate PFE could shrink c.15% of AZN cost base (ie c.1200p/AZN share, see Exhibit 1). Sunday Times (20 April '14): "Pfizer weighs £60bn bid for AZN" although "AZN is believed to be resisting PFE advances and no talks are currently underway, (...) However, PFE (...) could come back with a fresh approach." Both companies have declined to comment. AZN's main assets are respiratory & diabetes units, immuno oncology and China footprint: A potential deal could benefit PFE given AZN's solid position in respiratory (19% of FY14e revs) and diabetes (7%), and its promising, though early stage, immuno oncology pipeline. It would further reinforce PFE's leading position in China given AZN's strong presence (second after PFE with FY13 sales US$1.84bn, 7% of group). Financial implications: Based on AZN consensus numbers, a £60bn deal ($100bn, 24% premium vs last Friday's close) values AZN at 13.5x EV/EBIT or 12.4x including synergies (15% of its cost base). Our US analyst David Risinger estimates PFE's net cash position at $12bn and assumes PFE could pay with a combination of ex-US cash, new US debt, and equity. A 100% cash deal would imply 3.2x ND/EBITDA, 20%+ EPS accretion and ROCE greater than WACC by 2019e. Likely caveats: PFE would move away from recent downsizing initiatives; AZN's generic exposure: PFE has been refocusing for faster growth off a smaller base (e.g. recent sale of its Nutritional and Animal Health (Zoetis) units). Furthermore, it stated considering exiting old off-patent drugs, while AZN stands to lose 30% of its revenues to generics in the next 3 years (Nexium US 14, Crestor 16/17 and Seroquel XR 17).
28/4/2014
07:53
buywell2: Another Gap up today to circa 4600p anyone ? Pfizer Inc Statement re Possible Offer 28 April 2014 STATEMENT FROM PFIZER INC. ("PFIZER") ----------------------------------- POSSIBLE OFFER FOR ASTRAZENECA PLC ("ASTRAZENECA") This is an announcement of a possible offer falling under Rule 2.4 of the City Code on Takeovers and Mergers (the "Code"). It does not represent a firm intention to make an offer under Rule 2.7 of the Code. Accordingly, there can be no certainty that any offer will ultimately be made even if the pre-conditions referred to below are satisfied or waived. PFIZER CONFIRMS PRIOR DISCUSSIONS WITH ASTRAZENECA REGARDING A POSSIBLE COMBINATION AND ITS CONTINUING INTEREST IN A POSSIBLE MERGER TRANSACTION -- A transaction would bring together highly complementary Innovative and Established Pharmaceutical Businesses, enhancing the combined company's ability to meet patients' needs -- Both AstraZeneca and Pfizer shareholders would be expected to participate in short, medium and long-term value creation through enhanced pipeline development opportunities, premier global operations and the anticipated realisation of operational and financial synergies Pfizer Inc. confirms that it previously submitted a preliminary, non-binding indication of interest to the board of directors of AstraZeneca in January 2014 regarding a possible merger transaction. After limited high-level discussions, AstraZeneca declined to pursue negotiations. The discussions were discontinued on 14 January 2014 and Pfizer then ceased to consider a possible transaction. In light of recent market developments, Pfizer contacted AstraZeneca on 26 April 2014 seeking to renew discussions in order to develop a proposal that could be recommended by both companies to their shareholders. AstraZeneca again declined to engage. Pfizer is currently considering its options with respect to AstraZeneca. Pfizer's previous proposal made to the board of AstraZeneca on 5 January 2014 included a combination of cash and shares in the combined entity which represented an indicative value of GBP46.61 ($76.62)(1) per AstraZeneca share and a substantial premium of approximately 30% to AstraZeneca's closing share price of GBP35.86 on 3 January 2014. As in its previous proposal, Pfizer is considering a possible transaction in which AstraZeneca shareholders would receive a significant premium for their AstraZeneca shares, to be paid in a combination of cash and shares in the combined entity. Pfizer believes that a transaction, if proposed and consummated, would offer AstraZeneca shareholders a highly compelling opportunity to realise a significant premium to the undisturbed AstraZeneca share price as of 17 April 2014, which includes a substantial cash payment. AstraZeneca shareholders would become significant shareholders in the combined company and participate in significant value creation opportunities, including benefiting from the potential growth opportunities and operational and financial synergies that the combination of two complementary global pharmaceutical companies would be expected to generate. Pfizer is confident a combination is capable of being consummated. The transaction, if consummated, is expected to result in the combination of the two companies under a new U.K.-incorporated holding company. As a global corporation, Pfizer would expect the combined company to have management in both the United States and the United Kingdom, and to maintain head offices in New York and list its shares on the New York Stock Exchange. The making of any firm offer by Pfizer would be subject to the following pre-conditions (which may be waived in whole or in part by Pfizer): (1) Based on Pfizer's closing share price of $30.52 on 3 January 2014 and the exchange rate of $1.00:GBP0.6083. "We have great respect for AstraZeneca and its proud heritage as an innovation-driven biopharmaceutical business with a rich science-based foundation in both the United Kingdom and Sweden. In addition, the United Kingdom has created attractive incentives for companies to manufacture products and maintain and protect intellectual property, and we have seen that capital and jobs have followed these types of incentives. "We believe patients all over the globe would benefit from our shared commitment to R&D, which is critical to the future success of the pharmaceutical industry, in the form of potential new therapies that help to fight some of the world's most feared diseases, such as cancer. "The combination of Pfizer and AstraZeneca could further enhance the ability to create value for shareholders of both companies and bring an expanded portfolio of important treatments to patients. A potential combination with AstraZeneca aligns with Pfizer's current structure and fully supports its existing strategy to build world-class businesses. The combination would complement our two innovative businesses and our Global Established Pharmaceutical business, allowing us to maintain the flexibility for the potential future separation of our businesses whilst at the same time broadening our pipeline breadth and potential new product launches over coming years. We believe that a transaction would further strengthen our ability to generate strong and consistent cash flow, targeted for both investment in our business and return to shareholders, while at the same time offering an efficient operating structure and the anticipated realization of attractive synergies. "As always, we continue to focus on value creation and will be disciplined in our approach to capital deployment. Pfizer has a proven track record of successful acquisitions and, if a transaction were consummated, would use its extensive integration experience to support a successful combination of the businesses and focus on delivering value to shareholders." Pfizer believes the strategic, business and financial rationale for a transaction is compelling. Pfizer believes the possible combination would create a highly complementary mapping of products, pipeline and operating assets to Pfizer's new operating structure, providing additional critical mass to all business segments and strong cash flow through: -- an industry-leading combined portfolio of molecularly targeted medicines for lung cancer, including novel agents for ALK, EGFR and KRas subtypes; -- strengthened presence in breast cancer, including the ongoing phase 3 trial which combines palbociclib with Faslodex for women with recurrent, metastatic hormone-sensitive disease; -- opportunities for greater depth in immuno-oncology, including the option to combine anti-PD-L1 with palbociclib, Xalkori or Inlyta for breast, lung and renal cancer respectively. Additionally, molecules targeting PD-L1, CTLA4 and 41BB offer attractive opportunities for combination immuno-oncology therapy in several cancer indications, including lung cancer and melanoma; -- a strong complementary portfolio of important cardiovascular medicines, such as Brilinta and Eliquis and promising development stage programs, such as bococizumab (PCSK9); -- a broad, innovative commercial offering of non-insulin anti-diabetic medicines that complements Pfizer's early-stage research initiatives and capabilities in diabetes; -- a Global Established Pharmaceutical business with integrated distribution capabilities, expanded reach to healthcare providers and a broad portfolio of market-leading products generating strong and consistent cash flow; and -- a strengthened global footprint and enhanced opportunities in developing markets. The possible transaction is expected to be accretive to Pfizer's adjusted diluted earnings per share(2) in the first full year following the combination(3) . In addition, Pfizer has a track record of realising operational synergies and delivering meaningful value accretion for shareholders in prior transactions of a similar type and scale. Pfizer believes that synergies would be achieved through the combination of the two companies' operations and that the combination would enable greater capital efficiency and a more efficient tax structure. In particular, the currently contemplated structure under a new U.K.-incorporated holding company would not subject AstraZeneca's non-U.S. profits to U.S. tax, which would be in the best interests of the combined company's shareholders. The completion of a possible transaction is subject to the approval of Pfizer's shareholders and is expected to be a taxable event to Pfizer's shareholders. ____________ (2) "Adjusted Income" and its components and "Adjusted Diluted Earnings Per Share (EPS)" are defined as reported U.S. generally accepted accounting principles (GAAP) net income and its components and reported diluted EPS excluding purchase accounting adjustments, acquisition-related costs, discontinued operations and certain significant items. Pfizer's management uses adjusted income, among other factors, to set performance goals and to measure the performance of the overall company. Pfizer believes that investors' understanding of its performance is enhanced by disclosing this measure. The adjusted income and its components and adjusted diluted EPS measures are not, and should not be viewed as, substitutes for U.S. GAAP net income and its components and diluted EPS. (3) This is not a statement regarding Pfizer's expectations for its earnings per share for 2014 or subsequent periods. Pfizer reserves the right to introduce other forms of consideration and/or vary the mix of consideration and waive in whole or in part any of the pre-conditions to making an offer. Pfizer reserves the right to make an offer for AstraZeneca at any time for less than the equivalent of GBP46.61 ($76.62) for each AstraZeneca share: (i) with the agreement or recommendation of the AstraZeneca board; (ii) if a third party announces a firm intention to make an offer for AstraZeneca which, as at the date Pfizer announces a firm intention to make an offer for AstraZeneca, is valued at a lower price than the equivalent of GBP46.61 ($76.62) for each AstraZeneca share; (iii) following the announcement by AstraZeneca of a whitewash transaction(4) pursuant to the Code; or (iv) in the event that any AstraZeneca dividend is declared, made or paid in excess of what is expected by the consensus analyst forecasted dividends of 53.6 pence(5) per share due to be announced by AstraZeneca on 31 July 2014, a GBP for GBP adjustment reduction equal to the excess amount. The deadline set by Rule 2.6(a) of the Code (the "Deadline") requires Pfizer either: (i) to announce a firm intention to make an offer for AstraZeneca under Rule 2.7 of the Code; or (ii) to announce that it does not intend to make an offer for AstraZeneca, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies, by not later than 5.00 pm on 26 May 2014, save where either: (i) AstraZeneca and the Takeover Panel have consented to an extension of the Deadline; or (ii) the Deadline does not apply, or ceases to apply, by virtue of Rule 2.6(b) (a firm intention to make an offer for AstraZeneca under Rule 2.7 of the Code being announced by an offeror (other than Pfizer) prior to the Deadline). A copy of this announcement will be available on Pfizer's website at www.pfizer.com. Pfizer will hold an analyst and investor call in respect of this announcement today at 8:30 a.m. EDT (1:30 p.m. BST). A live and recorded webcast will be available from www.pfizer.com. Telephone dial in details (listen only) are as follows: ____________ (4) Broadly, a whitewash transaction is one in which a person, alone or together with parties concerted with such person, acquires or consolidates control in AstraZeneca pursuant to the acquisition of shares issued by AstraZeneca. (5) On the basis of the median consensus analyst forecast full year dividend of $2.80 per share, the split of first interim dividend and second interim dividend over the previous two years, and an exchange rate of $1.00:GBP0.5951.
28/4/2014
07:53
buywell2: Another Gap up today to circa 4600p anyone ? Pfizer Inc Statement re Possible Offer 28 April 2014 STATEMENT FROM PFIZER INC. ("PFIZER") ----------------------------------- POSSIBLE OFFER FOR ASTRAZENECA PLC ("ASTRAZENECA") This is an announcement of a possible offer falling under Rule 2.4 of the City Code on Takeovers and Mergers (the "Code"). It does not represent a firm intention to make an offer under Rule 2.7 of the Code. Accordingly, there can be no certainty that any offer will ultimately be made even if the pre-conditions referred to below are satisfied or waived. PFIZER CONFIRMS PRIOR DISCUSSIONS WITH ASTRAZENECA REGARDING A POSSIBLE COMBINATION AND ITS CONTINUING INTEREST IN A POSSIBLE MERGER TRANSACTION -- A transaction would bring together highly complementary Innovative and Established Pharmaceutical Businesses, enhancing the combined company's ability to meet patients' needs -- Both AstraZeneca and Pfizer shareholders would be expected to participate in short, medium and long-term value creation through enhanced pipeline development opportunities, premier global operations and the anticipated realisation of operational and financial synergies Pfizer Inc. confirms that it previously submitted a preliminary, non-binding indication of interest to the board of directors of AstraZeneca in January 2014 regarding a possible merger transaction. After limited high-level discussions, AstraZeneca declined to pursue negotiations. The discussions were discontinued on 14 January 2014 and Pfizer then ceased to consider a possible transaction. In light of recent market developments, Pfizer contacted AstraZeneca on 26 April 2014 seeking to renew discussions in order to develop a proposal that could be recommended by both companies to their shareholders. AstraZeneca again declined to engage. Pfizer is currently considering its options with respect to AstraZeneca. Pfizer's previous proposal made to the board of AstraZeneca on 5 January 2014 included a combination of cash and shares in the combined entity which represented an indicative value of GBP46.61 ($76.62)(1) per AstraZeneca share and a substantial premium of approximately 30% to AstraZeneca's closing share price of GBP35.86 on 3 January 2014. As in its previous proposal, Pfizer is considering a possible transaction in which AstraZeneca shareholders would receive a significant premium for their AstraZeneca shares, to be paid in a combination of cash and shares in the combined entity. Pfizer believes that a transaction, if proposed and consummated, would offer AstraZeneca shareholders a highly compelling opportunity to realise a significant premium to the undisturbed AstraZeneca share price as of 17 April 2014, which includes a substantial cash payment. AstraZeneca shareholders would become significant shareholders in the combined company and participate in significant value creation opportunities, including benefiting from the potential growth opportunities and operational and financial synergies that the combination of two complementary global pharmaceutical companies would be expected to generate. Pfizer is confident a combination is capable of being consummated. The transaction, if consummated, is expected to result in the combination of the two companies under a new U.K.-incorporated holding company. As a global corporation, Pfizer would expect the combined company to have management in both the United States and the United Kingdom, and to maintain head offices in New York and list its shares on the New York Stock Exchange. The making of any firm offer by Pfizer would be subject to the following pre-conditions (which may be waived in whole or in part by Pfizer): (1) Based on Pfizer's closing share price of $30.52 on 3 January 2014 and the exchange rate of $1.00:GBP0.6083. "We have great respect for AstraZeneca and its proud heritage as an innovation-driven biopharmaceutical business with a rich science-based foundation in both the United Kingdom and Sweden. In addition, the United Kingdom has created attractive incentives for companies to manufacture products and maintain and protect intellectual property, and we have seen that capital and jobs have followed these types of incentives. "We believe patients all over the globe would benefit from our shared commitment to R&D, which is critical to the future success of the pharmaceutical industry, in the form of potential new therapies that help to fight some of the world's most feared diseases, such as cancer. "The combination of Pfizer and AstraZeneca could further enhance the ability to create value for shareholders of both companies and bring an expanded portfolio of important treatments to patients. A potential combination with AstraZeneca aligns with Pfizer's current structure and fully supports its existing strategy to build world-class businesses. The combination would complement our two innovative businesses and our Global Established Pharmaceutical business, allowing us to maintain the flexibility for the potential future separation of our businesses whilst at the same time broadening our pipeline breadth and potential new product launches over coming years. We believe that a transaction would further strengthen our ability to generate strong and consistent cash flow, targeted for both investment in our business and return to shareholders, while at the same time offering an efficient operating structure and the anticipated realization of attractive synergies. "As always, we continue to focus on value creation and will be disciplined in our approach to capital deployment. Pfizer has a proven track record of successful acquisitions and, if a transaction were consummated, would use its extensive integration experience to support a successful combination of the businesses and focus on delivering value to shareholders." Pfizer believes the strategic, business and financial rationale for a transaction is compelling. Pfizer believes the possible combination would create a highly complementary mapping of products, pipeline and operating assets to Pfizer's new operating structure, providing additional critical mass to all business segments and strong cash flow through: -- an industry-leading combined portfolio of molecularly targeted medicines for lung cancer, including novel agents for ALK, EGFR and KRas subtypes; -- strengthened presence in breast cancer, including the ongoing phase 3 trial which combines palbociclib with Faslodex for women with recurrent, metastatic hormone-sensitive disease; -- opportunities for greater depth in immuno-oncology, including the option to combine anti-PD-L1 with palbociclib, Xalkori or Inlyta for breast, lung and renal cancer respectively. Additionally, molecules targeting PD-L1, CTLA4 and 41BB offer attractive opportunities for combination immuno-oncology therapy in several cancer indications, including lung cancer and melanoma; -- a strong complementary portfolio of important cardiovascular medicines, such as Brilinta and Eliquis and promising development stage programs, such as bococizumab (PCSK9); -- a broad, innovative commercial offering of non-insulin anti-diabetic medicines that complements Pfizer's early-stage research initiatives and capabilities in diabetes; -- a Global Established Pharmaceutical business with integrated distribution capabilities, expanded reach to healthcare providers and a broad portfolio of market-leading products generating strong and consistent cash flow; and -- a strengthened global footprint and enhanced opportunities in developing markets. The possible transaction is expected to be accretive to Pfizer's adjusted diluted earnings per share(2) in the first full year following the combination(3) . In addition, Pfizer has a track record of realising operational synergies and delivering meaningful value accretion for shareholders in prior transactions of a similar type and scale. Pfizer believes that synergies would be achieved through the combination of the two companies' operations and that the combination would enable greater capital efficiency and a more efficient tax structure. In particular, the currently contemplated structure under a new U.K.-incorporated holding company would not subject AstraZeneca's non-U.S. profits to U.S. tax, which would be in the best interests of the combined company's shareholders. The completion of a possible transaction is subject to the approval of Pfizer's shareholders and is expected to be a taxable event to Pfizer's shareholders. ____________ (2) "Adjusted Income" and its components and "Adjusted Diluted Earnings Per Share (EPS)" are defined as reported U.S. generally accepted accounting principles (GAAP) net income and its components and reported diluted EPS excluding purchase accounting adjustments, acquisition-related costs, discontinued operations and certain significant items. Pfizer's management uses adjusted income, among other factors, to set performance goals and to measure the performance of the overall company. Pfizer believes that investors' understanding of its performance is enhanced by disclosing this measure. The adjusted income and its components and adjusted diluted EPS measures are not, and should not be viewed as, substitutes for U.S. GAAP net income and its components and diluted EPS. (3) This is not a statement regarding Pfizer's expectations for its earnings per share for 2014 or subsequent periods. Pfizer reserves the right to introduce other forms of consideration and/or vary the mix of consideration and waive in whole or in part any of the pre-conditions to making an offer. Pfizer reserves the right to make an offer for AstraZeneca at any time for less than the equivalent of GBP46.61 ($76.62) for each AstraZeneca share: (i) with the agreement or recommendation of the AstraZeneca board; (ii) if a third party announces a firm intention to make an offer for AstraZeneca which, as at the date Pfizer announces a firm intention to make an offer for AstraZeneca, is valued at a lower price than the equivalent of GBP46.61 ($76.62) for each AstraZeneca share; (iii) following the announcement by AstraZeneca of a whitewash transaction(4) pursuant to the Code; or (iv) in the event that any AstraZeneca dividend is declared, made or paid in excess of what is expected by the consensus analyst forecasted dividends of 53.6 pence(5) per share due to be announced by AstraZeneca on 31 July 2014, a GBP for GBP adjustment reduction equal to the excess amount. The deadline set by Rule 2.6(a) of the Code (the "Deadline") requires Pfizer either: (i) to announce a firm intention to make an offer for AstraZeneca under Rule 2.7 of the Code; or (ii) to announce that it does not intend to make an offer for AstraZeneca, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies, by not later than 5.00 pm on 26 May 2014, save where either: (i) AstraZeneca and the Takeover Panel have consented to an extension of the Deadline; or (ii) the Deadline does not apply, or ceases to apply, by virtue of Rule 2.6(b) (a firm intention to make an offer for AstraZeneca under Rule 2.7 of the Code being announced by an offeror (other than Pfizer) prior to the Deadline). A copy of this announcement will be available on Pfizer's website at www.pfizer.com. Pfizer will hold an analyst and investor call in respect of this announcement today at 8:30 a.m. EDT (1:30 p.m. BST). A live and recorded webcast will be available from www.pfizer.com. Telephone dial in details (listen only) are as follows: ____________ (4) Broadly, a whitewash transaction is one in which a person, alone or together with parties concerted with such person, acquires or consolidates control in AstraZeneca pursuant to the acquisition of shares issued by AstraZeneca. (5) On the basis of the median consensus analyst forecast full year dividend of $2.80 per share, the split of first interim dividend and second interim dividend over the previous two years, and an exchange rate of $1.00:GBP0.5951.
28/4/2014
12:14
miata: Citi What's New? - We believe there is a 90% probability that Pfizer acquires AstraZeneca with a take-out price of at least c.£49/share. We reiterate our strong conviction on the compelling strategic and financial rationale. Our stand alone NPV for AZN is £49. Our conservative assumptions on cost cutting, tax and funding costs support an acceptable value-enhancing deal for PFE up to mid-£50s/share price. We have calculated that at £49, an acquisition would have a ROIC of greater than 9% in 2018/19 compared with likely transaction WACC of 5%. We anticipate Core EPS accretion in 2018-20e and beyond up to 12-20%. Full details of the compelling rationale and putative deal structure for PFE/ AZN are in our reports from last week (Pfizer + AstraZeneca. How Did We Miss It? and Pipeline Value Still Underappreciated With or Without PFE. BUY). We first outlined our £49/ share NPV stand-alone value on our November 2013 deep pipeline analysis report (Looking For A Deal, Waiting For The Pipeline). M&A Discussions Confirmed. Pfizer issued a press release this morning under rule 2.4 of the UK Takeover Code. Pfizer announced today that it had held prior discussions with AstraZeneca regarding a potential merger in January 2014, which was discontinued on 14 January. Pfizer confirmed that it had approached AZN again on 26 April seeking to renew discussions, but AZN declined to engage again. PFE had previously made a proposal to the AZN board indicating an acquisition price of £46.61 ($76.62) per share in a combination of cash and stock. We assume last week's offer was £49/share. Pfizer Is Not To Be Deterred. Under the takeover code, Pfizer has a month to decide whether to bid or to withdraw. AZN has commented that they are reviewing Pfizer's more recent offer. Given PFE's articulation of the potential benefits of the deal in today's press release (immediate EPS accretion, value enhancement through portfolio and financial synergies etc.) and the two approaches, we believe that Pfizer will increase pressure on AZN shareholders and board to accept the offer. Notably Pfizer states in their press release "PFE is confident a combination is capable of being consummated". Limited Defence. We continue to believe AZN's bankers will struggle to deliver a strong defence to PFE's approaches. We have previously cited a potential merger-of equals with Abbvie and Amgen. However, these options would deliver less shareholder value than PFE. While theoretically Sanofi could show interest, we think Sanofi would struggle to extract the same level of financial synergies as PFE given PFE's Established Products division and use of offshore cash. We doubt that the UK Government will intercede in any transaction. PFE has committed to retaining a UK and US-based headquarters and will create a financially advantageous UK holding company for both legacy companies increasingly leveraging UK's patent box.
19/5/2014
08:50
spob: Financial Times Last updated: May 19, 2014 7:40 am AstraZeneca rejects Pfizer's 'final' £69bn offer By Ed Hammond in New York and Andrew Ward and Arash Massoudi in LondonAuthor alerts The Pfizer Inc. company logo, right, and the AstraZeneca Plc company logo, are seen on boxes of pharmaceutical products produced by the drug makers in this arranged photograph taken in London, U.K., on Friday, May 2, 2014. AstraZeneca Plc rejected Pfizer Inc.'s sweetened takeover proposal, saying the 63.1 billion-pound ($106.5 billion) offer fails to recognize the value of the promising experimental medicines under development by the U.K.'s second-biggest drugmaker. Photographer: Chris Ratcliffe/BloombergBloomberg AstraZeneca has rejected an improved £69bn takeover offer from Pfizer, a bid which the US drugmaker declared to be its final offer for its UK rival. In a statement on Monday, AstraZeneca said the £55 a share a bid, raised from £50 two weeks ago, undervalued the company and its "attractive prospects". "We have rejected Pfizer's final proposal because it is inadequate and would present significant risks for shareholders, while also having serious consequences for the company, our employees and the life-sciences sector in the UK, Sweden and the US," said Leif Johansson, chairman of AstraZeneca. More On this story UK in talks on intervening in AstraZeneca bid Tony Jackson Public interest case for AstraZeneca overdone In depth Pfizer's AstraZeneca bid Labour in threat to block Pfizer bid Pfizer seeks breast cancer drug approval On this topic AstraZeneca rejects Pfizer's £69bn offer Fast FT Astra rejects Pfizer's sweetened pill Inside London AstraZeneca's not blinding us with science AstraZeneca escalates defence IN Pharmaceuticals Biomedical start-ups benefit from dose of northern exposure Foreign businesses act after GSK probe Drugs chiefs learn how to survive grilling Week in Review, May 17 Unless shareholders can convince AstraZeneca to reopen talks, the rejection puts into jeopardy a deal that would be the largest foreign takeover of a UK company. AstraZeneca's shares fell 13 per cent to £41.60 in opening trade in London. The two companies discussed the deal over the weekend, including a near two-hour video call on Sunday afternoon. During those talks AstraZeneca executives also indicated they felt that Pfizer had failed to give assurances over commitments to the UK group's research and development programmes and future innovation investment in the UK. In his statement on Monday Mr Johansson said during the talks Pfizer said it could consider only minor improvements in the financial terms of an offer made on Friday of £53.50 a share. "In response, we indicated, even assuming that other key aspects of any proposal had been satisfactory, that the price at which the board of AstraZeneca would be prepared to provide a recommendation would have to be more than 10 per cent above the level contained in Pfizer's Friday proposal. "The final proposal is a minor improvement which continues to fall short of the board's view of value and has been rejected." In a statement on Sunday evening, Pfizer said it would not make a hostile bid and would only proceed with the offer with the recommendation of the AstraZeneca board. More video The US drugmaker urged shareholders to put pressure on AstraZeneca's board to enter negotiations over the increased proposal of £55 a share, 45 per cent of it in cash. In outlining his company's new offer on Sunday, Ian Read, Pfizer's chairman and chief executive, had expressed frustration with AstraZeneca's repeated refusal to enter talks and appeared braced for another rejection. "We have tried repeatedly to engage in a constructive process with AstraZeneca to explore a combination of our two companies," he said. "Following a conversation with AstraZeneca earlier today, we do not believe that the AstraZeneca board is currently prepared to recommend a deal at a reasonable price." The proposal marked an improvement from the £50 a share indicative offer 33 per cent of it in cash rebuffed by AstraZeneca on May 2. Pfizer revealed that it had made a further proposal of £53.50 a share 40 per cent of it in cash in a letter on Friday. AstraZeneca had dismissed this as a "substantial" undervaluation, according to the US company. Tony Jackson: The public interest case is flawed Tony Jackson While the case against a Pfizer deal is weak, the tax case for it is compelling The latest proposal represents a 45 per cent premium to the share price on the last trading day before news of Pfizer's interest was first reported last month. Pfizer has until May 26 to persuade AstraZeneca to enter talks, after which it would be barred under UK takeover rules from making another approach for six months. AstraZeneca has argued that Pfizer's previous proposals fail to recognise fully the value of its strengthening drugs pipeline particularly a new generation of cancer medicines or to compensate its shareholders adequately for the execution risks involved in such a big deal. Pascal Soriot, AstraZeneca's chief executive, has warned that the proposed deal could disrupt drug development and expose the merged group to political risks stemming from Pfizer's plan to move its tax domicile to the UK to escape higher US rates. In Monday's statement, Mr Johansson said: "Pfizer's approach throughout its pursuit of AstraZeneca appears to have been fundamentally driven by the corporate financial benefits to its shareholders of cost savings and tax minimisation." "From our first meeting in January to our latest discussion yesterday, and in the numerous phone calls in between, Pfizer has failed to make a compelling strategic, business or value case. The board is firm in its conviction as to the appropriate terms to recommend to shareholders." In depth Pfizer's AstraZeneca bid Pfizer and Astra Zeneca Pfizer's £63bn offer for AstraZeneca, if successful, would create the world's biggest pharmaceuticals group and represent the largest foreign takeover of a UK company AstraZeneca also said there would be risks in holding Pfizer shares if the US offer was accepted. It noted the 5.3 per cent decline in Pfizer's share price since the release of the US company's 2014 results. It added that proposed structure of the merged company had already been the subject of intense public and governmental scrutiny, particularly in the US, over tax. "The board believes this structure brings increased uncertainty as regards the delivery of value for AstraZeneca shareholders," it said. Mr Read said he did not believe any of the issues raised by AstraZeneca represented "material difficulties". The proposed deal would be the biggest foreign takeover of a UK company and has roused political concern in Britain over its potential impact on the country's science base. AstraZeneca employs nearly 7,000 people in the UK and accounts for more than 2 per cent of exported goods.
16/1/2015
19:37
jeffcranbounre: AstraZeneca is featured on today's ADVFN podcast. To listen to the podcast click here> http://bit.ly/ADVFN0109 In today's podcast: - Technical Analyst and PR at Materinvestor.co.uk Zak Mir chatting and charting Quindell and it’s good news if you’re Quindell investor, Nanoco, Afren, Blur and should you invest in BP or Royal Dutch Shell? Zak on Twitter is @ZaksTradingCafe - And the micro and macro news including: Quindell #QPP Afren #AFR Royal Bank of Scotland #RBS Blur #BLUR Nanoco #NANO BP #BP. Royal Dutch Shell #RDSB Moneysupermarket.com #MONY GlaxoSmithKline #GSK Synthomer #SYNT JD Sports #JD. HSBC #HSBA Google #GOOG Standard Chartered #STAN Vedanta Resources #VED MyCelx Technologies #MYXR IG Group #IGG Shire #SHP AstraZeneca #AZN Smith (DS) #SMIN Dignity #DTY Tristel #TSTL Lancashire #LRE Wolseley #WOS Robert Walters #RWA Every Tuesday is Ten Bagger Tuesday on the podcast. If you know of a stock, whose share price has the potential to increase ten fold, just click the link below. Ten Bagger Tuesday (All it involves is filling out a form that will take you around 5 minutes and you don't personally appear on the podcast). Once a week, on a Friday, I feature a tip from a listener to this podcast, if you'd like to suggest a stock click the link below: Suggest a stock (Again all it involves is filling out a form that will take you around 5 minutes and you don't personally appear on the podcast). You can subscribe to this podcast in iTunes by clicking HERE To follow me on Twitter click HERE As a listener to the ADVFN podcast you can take advantage of some exclusive first year discounts on popular subscriptions: Bronze - £50 (normally £73.82/year) Silver - £145 (normally £173.71/year) Level 2 - £350 (normally £472.94/year) Call 0207 0700 961 and ask for the ADVFN Podcast discount to take advantage of these reduced rates or just CLICK HERE for more information. Please DO NOT buy any stock recommended in this podcast basely solely on what you hear. The opinions in this podcasts are just that, opinions. Please do you own research before investing. Justin    
05/1/2015
15:43
jeffcranbounre: Astrazeneca is mentioned in today's (05/01/15) ADVFN podcast. To listen to the podcast click here> http://bit.ly/ADVFN0100 In today's podcast: - Nicola Duke technical analyst dicusses Quindell, Sainsburys, TERN and BP. Nicola on Twitter is @NicTrades - And the micro and macro news including: Quindell #QPP Tesco #TSCO Lloyds #LLOY TERN #TERN Asda Gulf Keystone Petroleum #GKP BP #BP. Rockhopper Exploration #RKH Galliford Try #GFRD Xaar #XAR PureCircle #PURE Hikma Pharmaceuticals #HIK AstraZeneca #AZN GlaxoSmithKline #GSK Marks & Spencer #MKS Sainsbury #SBRY Every Tuesday is Ten Bagger Tuesday on the podcast. If you know of a stock, whose share price has the potential to increase ten fold, just click the link below. Ten Bagger Tuesday (All it involves is filling out a form that will take you around 5 minutes and you don't personally appear on the podcast). Once a week, on a Friday, I feature a tip from a listener to this podcast, if you'd like to suggest a stock click the link below: Suggest a stock (Again all it involves is filling out a form that will take you around 5 minutes and you don't personally appear on the podcast). You can subscribe to this podcast in iTunes by clicking HERE To follow me on Twitter click HERE As a listener to the ADVFN podcast you can take advantage of some exclusive first year discounts on popular subscriptions: Bronze - £50 (normally £73.82/year) Silver - £145 (normally £173.71/year) Level 2 - £350 (normally £472.94/year) Call 0207 0700 961 and ask for the ADVFN Podcast discount to take advantage of these reduced rates or just CLICK HERE for more information. Please DO NOT buy any stock recommended in this podcast basely solely on what you hear. The opinions in this podcasts are just that, opinions. Please do you own research before investing. Justin    
22/1/2015
17:31
jeffcranbounre: Astrazeneca is featured in today's ADVFN podcast. To listen to the podcast click here> http://bit.ly/ADVFN0113 In today's podcast: - Chris Oil, financial writer and city investor will be chatting about a well known name who could be back in fashion. Chris on Twitter is @ChrisOil - And Rodney Hobson, a financial speaker, writer and author of investment books including Shares Made Simple, the beginner's guide to the stock market. Rodney on Twitter is @RodneyHobson - The micro and macro news - Plus the broker forecasts Every Tuesday is Ten Bagger Tuesday on the podcast. If you know of a stock, whose share price has the potential to increase ten fold, just click the link below. Ten Bagger Tuesday (All it involves is filling out a form that will take you around 5 minutes and you don't personally appear on the podcast). Once a week, on a Friday, I feature a tip from a listener to this podcast, if you'd like to suggest a stock click the link below: Suggest a stock (Again all it involves is filling out a form that will take you around 5 minutes and you don't personally appear on the podcast). You can subscribe to this podcast in iTunes by clicking HERE To follow me on Twitter click HERE As a listener to the ADVFN podcast you can take advantage of some exclusive first year discounts on popular subscriptions: Bronze - £50 (normally £73.82/year) Silver - £145 (normally £173.71/year) Level 2 - £350 (normally £472.94/year) Call 0207 0700 961 and ask for the ADVFN Podcast discount to take advantage of these reduced rates or just CLICK HERE for more information. Please DO NOT buy any stock recommended in this podcast basely solely on what you hear. The opinions in this podcasts are just that, opinions. Please do you own research before investing. Justin    
28/4/2014
07:52
puffintickler: http://www.investegate.co.uk/pfizer-inc/azn/statement-re-possible-offer "Pfizer's previous proposal made to the board of AstraZeneca on 5 January 2014 included a combination of cash and shares in the combined entity which represented an indicative value of £46.61 ($76.62)1 per AstraZeneca share and a substantial premium of approximately 30% to AstraZeneca's closing share price of £35.86 on 3 January 2014. As in its previous proposal, Pfizer is considering a possible transaction in which AstraZeneca shareholders would receive a significant premium for their AstraZeneca shares, to be paid in a combination of cash and shares in the combined entity. Pfizer believes that a transaction, if proposed and consummated, would offer AstraZeneca shareholders a highly compelling opportunity to realise a significant premium to the undisturbed AstraZeneca share price as of 17 April 2014, which includes a substantial cash payment. " Stand by for take off

Astrazeneca Most Recent Trade

Trade Type Trade Size Trade Price Trade Date Trade Time Currency
2,160 4,120.00 28 Aug 2015 17:07:52 GBX


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