Pfizer Bid for Glaxo Would Draw More Scrutiny vs Astra: Citi
2015-05-20 11:49:17.222 GMT
By Allison Connolly
(Bloomberg) -- U.K. government resistance to a Pfizer bid
for Glaxo would be “materially higher” than it was for Astra
given the much larger U.K. infrastructure, Citi’s Andrew Baum
says in a note.
* Says Glaxo (resumed neutral) seeking to buy minority stakes
in its OTC JV from Novartis and ViiV from PFE is more
credible
* Maintenance of the current div. creates material limitations
on Glaxo’s ability to pursue material M&A: Citi
* NOTE: Earlier, Pfizer Bid for Glaxo Would Unlock Balance
Sheet: Deutsche Bank
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To contact the reporter on this story:
Allison Connolly in London at +44-20-3525-7043 or
aconnolly4@bloomberg.net
To contact the editors responsible for this story:
James Ludden at +44-20-3525-2645 or
jludden@bloomberg.net
Gaurav Panchal
2015-05-20 11:49:17.222 GMT
By Allison Connolly
(Bloomberg) -- U.K. government resistance to a Pfizer bid
for Glaxo would be “materially higher” than it was for Astra
given the much larger U.K. infrastructure, Citi’s Andrew Baum
says in a note.
* Says Glaxo (resumed neutral) seeking to buy minority stakes
in its OTC JV from Novartis and ViiV from PFE is more
credible
* Maintenance of the current div. creates material limitations
on Glaxo’s ability to pursue material M&A: Citi
* NOTE: Earlier, Pfizer Bid for Glaxo Would Unlock Balance
Sheet: Deutsche Bank
For Related News and Information:
First Word scrolling panel: FIRST<GO>
First Word newswire: NH BFW<GO>
To contact the reporter on this story:
Allison Connolly in London at +44-20-3525-7043 or
aconnolly4@bloomberg.net
To contact the editors responsible for this story:
James Ludden at +44-20-3525-2645 or
jludden@bloomberg.net
Gaurav Panchal