In a Memorial Day whimper, Pfizer PFE +0.3% announced yesterday that it will withdraw its bid for London’s AstraZeneca , meaning that it will have to take a breather of at least three months and maybe six before issuing another bid. Most likely, this sets up a long pattern where Pfizer executives sit in wait, hoping that Astra will stumble and its investors will push it into a Pfizer merger.
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