It appears that Pfizer’s attempt to acquire AstraZeneca (AZN) for roughly $120 billion has failed. The AZN Board of Directors has rejected the offer and Pfizer’s CEO appears to be reluctant to try for a hostile takeover. Part of the AZN Board’s desire to remain independent stems from its belief that AZN’s growth prospects are excellent. Indeed, AZN CEO, Pascal Soriot, has said that AZN ‘s revenues can grow to $45 billion by 2023, up from $25.7 billion last year.
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