US drug giant Pfizer confirms AstraZeneca bid

US pharmaceutical giant Pfizer confirmed on Monday that it had put in a bid to takeover Anglo-Swedish drug giant AstraZeneca.

Published: 28 April 2014 08:42 CEST

Pfizer confirmed in a statement on Monday morning that it had approached the Anglo-Swedish company in January with an initial offer.

"After limited high-level discussions, AstraZeneca declined to pursue negotiations," Pfizer wrote, adding that discussions ceased mid-January.

Pfizer, however, made a second move on Saturday seeking to renew discussions, citing "recent market developments".

AstraZeneca once again declined to engage.

More to follow

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