Yedu Satheesh

User Type : Standard User
AstraZeneca Pharmaceuticals refuses to show the new Pfizer takeover

AstraZeneca Pharmaceuticals refuses to show the new Pfizer takeover

Post By : Yedu Satheesh

Post Rank : 1890th

Category : Health & Fitness

Sub Category : Men's Health

05 May 2014

AstraZeneca has rejected the British pharmaceutical industry's new takeover offer made by Pfizer States. The company raised the price of the former U.S. offer to AstraZeneca for up to £ 50 a share; the deal is valued at 63 billion pounds. But AstraZeneca said that the new terms of the offer "inadequate, and significantly reduce the value of AstraZeneca, and does not represent a basis to engage in negotiations with Pfizer" on the acquisition. If this transaction is crowned with success, it would be the largest foreign takeover of a British company. The value of the initial offer for Pfizer in January stood at 46.61 pounds per share for AstraZeneca, and rejected by the British company. Earlier Friday, Pfizer also sent a letter to Prime Minister David Cameron, in an effort to address concerns about the transaction. There are fears that the acquisition of AstraZeneca could affect the number of jobs the company in Britain that require special skills, and employs approximately 6,700 people.

And raised four scientific institutions on Wednesday, concerns about the possible closure of the plants if the British company's acquisition by Pfizer, and is considering a committee of MPs to investigate this issue. Cameron told Pfizer it will go ahead with plans to buy the Department of Research and Development for AstraZeneca, based in Cambridge, while retaining the company's own manufacturing facilities in British Mkelzfeld. Pfizer also pledged that if the deal goes through, the 20 percent of the R & D team in the merged company will be based in Britain. The company confirmed that the American commitments in this regard will be in effect for five years, unless circumstances changed dramatically. The member of the House of Lords Michael Haseltn to give greater powers to the British government to intervene in the acquisitions of foreign companies if there is a danger to the interests of the British mission.

Out a very attractive

The AstraZeneca confirmed on Monday that Pfizer began attempts to acquire it in January, but noted that the offer "drastically reduced the value" of the company, which employs more than 51 thousand employees around the world. In announcing the new offer for Pfizer, said President and Chief Executive Officer of Pfizer, Ian Reid, "We have seen a positive response at the level of the very market about what we announced on April 28 / April, including the reactions of shareholders of both companies."He added that "we have heard the message of harmonious reinforce our belief that there is a basis of a strategic, commercial and financial very attractive to merge the two companies to achieve significant benefits for the shareholders of both companies.""We believe that our proposal is consistent with the views of the shareholders of AstraZeneca, and provides a sound base for access to favorite items for the integration of the two companies."

The works in the branches of Pfizer in the world, which produces drugs, including Viagra, more than 70 thousand employees in 2500, including in Britain. The company said it wants to be based in the commercial and taxation in Britain, in addition to its headquarters in Europe. Said Heather Selph, a tax expert at the Foundation "Bincent Masons," told the BBC that "Vairz want to put a British company at the head of the whole group, and that the company fully graduated from the U.S. tax system."The federal tax on companies in the United States amounting to 35 percent, while the rate of corporate tax in Britain, 21 percent is scheduled to drop to 20 percent in 2015.He rolled it is unlikely that Britain achieved significant tax gains from the transaction.


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