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Pfizer Inc. (PFE) Cautiously Approaches Strained AstraZeneca PLC (AZN) With $101 Billion Buyout Deal



4/21/2014 6:47:06 AM

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Pfizer Inc. (PFE), the world’s biggest drugmaker, held informal, now-discontinued talks with AstraZeneca Plc about possibly buying the London-based maker of asthma and heart drugs, said two people familiar with the matter.

The companies aren’t currently negotiating, said the people, who asked not to be identified. One said the talks happened several months ago and there are no plans to resume. The discussions were first reported yesterday by London’s Sunday Times, whose unnamed bank and industry sources said New York-based Pfizer made a tentative approach about a takeover valuing AstraZeneca at more than 60 billion pounds ($101 billion).

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