Sanofi and Novartis rumoured to have appointed advisers to consider bid for AstraZeneca
Sanofi and Novartis are said to have engaged advisers to examine possible bids for rival drugs group AstraZeneca, The Independent reported. The market report said France-based Sanofi is believed to be likely to offer GBP 55 (EUR 67) per share. Novartis, based in Switzerland, did not wish to comment, the report said.
Weekend media reports said Pfizer had approached London-listed AstraZeneca with a GBP 50-per-share offer and was turned down. Yesterday, 22 April, it was suggested that New York-based Pfizer might return with a revised offer of GBP 60 per share, the report said.
The Daily Mail reported market chatter that should Pfizer not succeed in taking over AstraZeneca, it might instead approach UK-listed Shire.
Meanwhile, the Financial Times reported speculation that Shire might be approached for a defensive merger by Allergan, the Irvine, California-based pharma company which is being pursued for a hostile bid from Valeant and Bill Ackman.
Source Independent, Daily Mail, Financial Times