Reuters report that Pfizer have walked away from the £70bn deal to buy AstraZeneca. The “fill or fill” deadline set by UK takeover rules was to expire today at 16.00 gmt.
There is now a three month cooling off period before AZ can tout Pfizer and six months before Pfizer can make another takeover.
If there was any bid left in cable over the original deal it’s likely to come out of the price tomorrow when the UK is back to work.
