Pfizer May Return for Astra Despite New Inversion Rules: Citi
2014-09-23 10:21:18.12 GMT
By Allison Connolly
Sept. 23 (Bloomberg) -- Pfizer may restart talks with Astra
shareholders post Nov. 26 given the multiple strategic, cost and
tax benefits that remain despite U.S rules discouraging
inversion, Citi (buy) says in note.
* Sees little negative impact from the U.S. measures on the
economic benefit from the proposed Pfizer acquisition of
Astra
* Est. Astra intrinsic value on a stand-alone basis is GBP54
based on pipeline
* NOTE: Late yday, Obama Says New Rules Designed to Discourage
Corporate Inversions
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 +44-20-7673-2645 or
jludden@bloomberg.net
Gaurav Panchal
2014-09-23 10:21:18.12 GMT
By Allison Connolly
Sept. 23 (Bloomberg) -- Pfizer may restart talks with Astra
shareholders post Nov. 26 given the multiple strategic, cost and
tax benefits that remain despite U.S rules discouraging
inversion, Citi (buy) says in note.
* Sees little negative impact from the U.S. measures on the
economic benefit from the proposed Pfizer acquisition of
Astra
* Est. Astra intrinsic value on a stand-alone basis is GBP54
based on pipeline
* NOTE: Late yday, Obama Says New Rules Designed to Discourage
Corporate Inversions
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 +44-20-7673-2645 or
jludden@bloomberg.net
Gaurav Panchal