No, No, No, No! Not in My House!
AstraZeneca management swiftly rejected Pfizer's latest $106 B bid as "inadequate". Further, AstraZeneca said it "substantially" undervalues the company and is "not a basis on which to engage with Pfizer."
Pfizer on the other hand says it has communicated with major AZ shareholders in formulating the offer and has seen "significant positive market reaction" to its offer. Pfizer notes that its new offer is at a 39% premium to AZ's current price. To further sweeten things with the UK government, Pfizer's CEO Read has written to PM Cameron that Pfizer intends to complete AZ's Cambridge R&D campus and would also look to put a manufacturing site in the UK. See First Word Pharma.
Posted by Bruce Lehr May 2nd 2014.