Boston, MA 05\/01\/2014 (wallstreetpr) –\u00a0It is not that AstraZeneca plc (ADR) (NYSE:AZN)<\/b> has already accepted a bid for its takeover by the U.S. pharmaceutical giant Pfizer Inc (NYSE:PFE)<\/b>. However, British lawmakers are already concerned about several things including potential job loss following what could become the largest foreign acquisition of a British company.<\/p>\n
Pfizer offered to purchase the British’s second-biggest drug company for $100 billion. It emerged that the U.S. drug giant first attempted a bid in the past months but was rejected, and it recently went public with the offer. The decision to go public over the issue has attracted great attention from the British government and shareholders.<\/p>\n
According to AstraZeneca plc (ADR) (NYSE:AZN), the reason they turned down the initial offer was because it significantly undervalued the company. Therefore, in the absence of something bigger than the previous offer, the company does not see any sense in resuming the talks. However, Pfizer could approach the deal through the shareholders.<\/p>\n
Pfizer needs to secure its revenue future. Though the company remains a giant in the U.S. and global drug industry, it is facing loss of market exclusivity for some of its blockbuster drugs and that means potential decline in revenue if the company does not act faster enough to improve its product portfolio. While it retains a vibrant research and development with a rich pipeline, acquisition is important in complementing its organic growth.<\/p>\n
Tarnished reputation<\/b><\/p>\n
For Pfizer, Britain is an attractive market for pharmaceutical activities, especially looking at the government tax incentives. However, the announcement by the company in 2011 that it plans to shut down a drug research site in southern England, with about 2,000 jobs at stake, the company\u2019s reputation and commitment to future jobs in Britain seem questionable.<\/p>\n
Revised offer<\/b><\/p>\n
It is good to know that the British government has chosen to take a neutral position in a possible deal between AstraZeneca plc (ADR) (NYSE:AZN) and Pfizer. However, under U.K. takeover laws, Pfizer has until May 26, to revise its takeover offer for AstraZeneca or shut up.<\/p>\n","protected":false},"excerpt":{"rendered":"
Boston, MA 05\/01\/2014 (wallstreetpr) –\u00a0It is not that AstraZeneca plc (ADR) (NYSE:AZN) has already accepted a bid for its takeover by the U.S. pharmaceutical giant […]<\/p>\n","protected":false},"author":6,"featured_media":20478,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[264],"tags":[4503,4504,993,2745],"stock_ticker":[],"class_list":["post-20826","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-health","tag-astrazeneca-plc-adr-nyseazn","tag-nyseazn","tag-nysepfe","tag-pfizer-inc-nysepfe","entry"],"acf":[],"yoast_head":"\n