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