Not surprisingly, AZ CEO, Pascal Soriot, says they will engage in talks with Pfizer only when they've been offered enough money to "reflect the value of the company". No surprise here. What else is he going to say? As, he has a fiduciary reponsibility to shareholders to bring worthy offers forward to their consideration.
In absence of anything else new occuring, when Pfizer sweetens its offer, then AZ will sit down and discuss. At which time, AZ will try to get as much money as they can, and as many concessions as they can relative to existing staff and projects. But shareholders will be more predictably persuaded by the MONEY offer I believe. See First Word Pharma.
Posted by Bruce Lehr May 15th 2014.