Pfizer raises bid for Britain’s AstraZeneca to $106b

LONDON, May 2 (AFP): US pharmaceuticals giant Pfizer has raised its takeover offer for Britain's AstraZeneca to about $106 billion (76 billion euros), it announced on Friday.
The Viagra maker said in a statement that it has lifted its informal offer to £50 per AstraZeneca share.
That compared with the previous proposal of £46.61 which was worth almost $100 billion.
The tie-up between two of the world's biggest pharmaceutical groups is aimed at combine research pipelines in oncology and other key disciplines.
"Pfizer Inc. today announces that, having consulted with major shareholders, it has submitted a revised written proposal to AstraZeneca PLC to make an offer to combine the two companies," it said in a statement to the London Stock Exchange.
"Pfizer hopes that the increased proposal will provide the basis for AstraZeneca to engage with Pfizer and enter into discussions relating to a possible combination of the two companies."
Under the revised offer, AstraZeneca investors would receive 1.845 shares in the new combined company and 1,598 pence in cash, valuing the British group at approximately £63 billion.