The Presidential Daily Brief

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  1. Pfizer Ups Ante to $106 Billion, but Astra Rejects Bid

    The New York-based drug firm issued a new and higher offer today to get its hands on British rival AstraZeneca, but it was reportedly rebuffed. An earlier bid had valued the UK firm at just under $100 billion, but today’s offer had Pfizer weighing up Astra at nearly $106 billion or $84.47 a share, which represented a 32 percent premium on Astra’s share price. If it had been accepted, Pfizer would have been well on its way to forming the world’s largest pharmaceuticals company.

    Sources: FT (sub), NYT, USA Today

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