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May 21, 2014
Pfizer/AstraZeneca: The Arm-Wrestling Phase
Don't forget - you can bet that the people at AstraZeneca aren't forgetting - that Pfizer still has until May 26th under UK securities law for their takeover offer. Today's Wall Street Journal reports that some institutional investors are pressuring AZ's board to accept the offer (or at least open negotiations), while others are standing with the company's management. (Here's a summary at FierceBiotech if you don't have WSJ access). My guess is that the current deal won't go through, but if there's any mis-step in AZ's turnaround plans during the rest of the year, Pfizer will be right back at the door.
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