US PHARMACEUTICAL GIANT Pfizer’s recent attempt to take over another major player in the industry, AstraZeneca, shows how easy it for a deal to fail. Having spent a month out in the open after making public its desire to buy the British drugmaker, Pfizer was unable to clear enough hurdles to push the deal through. Concern that the transaction was merely a tax mitigation exercise certainly didn’t help matters, while AstraZeneca’s board was stubborn in its call for a higher price to be set – one that would incorporate its future pipeline of medicine.
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