Pfizer takeover of AstraZeneca can’t get done by U.K. deadline

Both companies say they ready to move in different directions

Not all potential merger deals end in happy marriages. Some, such as American Airlines and U.S. Airways, face regulatory pressure. Some, such as Comcast and Time Warner Cable, raise major concerns for overall competition and net neutrality. And some, such as Pfizer and AstraZeneca, just can’t line up a takeover deal, even with a deadline looming.

Pfizer’s proposed $120 billion takeover of British pharmaceutical rival AstraZeneca is now dead for at least several months, as the two companies are now pursuing other interests. Under U.K. takeover law, Pfizer and AstraZeneca had six months from Pfizer’s original offer to reach a deal. That deadline came and went on Monday.

Assistant Editor

author image

Zach Warren

Zach Warren is Assistant Editor of InsideCounsel magazine, where he oversees online content submissions and administers InsideCounsel's enewsletters. Zach specializes in new media and multimedia...

Bio and more articles

Join the Conversation

Advertisement. Closing in 15 seconds.