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AZN, PFE: AstraZeneca Stock Jumps on Old Pfizer Takeover Talk

AZN were up 5% after the takeover talk was reported

   

AstraZeneca (AZN) shares saw a jump after reports claimed that there was talk of a takeover by Pfizer (PFE).

astrazeneca-stock-pfizer-azn-pfeHowever, there are no talks currently taking place that involve AstraZeneca being taken over by Pfizer. The news that AstraZeneca is in talks with Pfizer comes from a Reuters report that mentions talks from a month ago. During these talks, AstraZeneca rejected a takeover by Pfizer. Headlines referring to the story have been misleading and have lead some to believe that a takeover was currently being negotiated, reports NASDAQ.

“We anticipate Pfizer to push aggressively ahead with a second approach,” Andrew Baum, a Citi analyst, told Fox Business while talking about an AstraZeneca takeover.

Despite misleading news regarding an AstraZeneca takeover by Pfizer, AZN shares were up 5% as of midday Monday.

PFE shares were up 1% as of midday Monday

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Article printed from InvestorPlace Media, http://investorplace.com/2014/04/astrazeneca-stock-pfizer-azn-pfe/.

©2016 InvestorPlace Media, LLC

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