News out earlier sees Pfizer raising its offer of £55 per share valuing Astrazeneca at about £69 bln
The previous increased offer of £50 per share was refused without reservation and since then we’ve seen both company heads appear before a UK parlimentary committee as govt and opposition party concerns over the UK’s best interests come ever to the fore.
The latest revised off still appears to be short of the £60-63 that many market commentators suggest may be the trigger for Astrazenenca and its shareholders to succoumb, and what we don’t know as yet is how much cash (GBP) will be required even if the deal does finally complete.
The initial buying of GBPUSD has been abated on the rejections so far but we could see some furthur linked demand once we know a little more detail should Pfizer finally get their way.
