Which old deal?
The wicked deal pitched by Pfizer to acquire AZ of course.
And now the recriminations can begin. With "insiders" telling us the deal fell apart because CEO Read decided to do an across the Atlantic conference call instead of flying to London to meet with the AZ board. Or that the deal was doomed when Pfizer publicly announced its last offer without talking to AZ first --- and also termed it the LAST OFFER.
Or was it simply that CEO Soriot and Chairman Johansson wanted to remain free of Pfizer? Or was it due to the fact that no one outside of a few shareholders who had $$$ to gain liked the deal -- including UK trade unions, US and Swedish goverments, various State governors, and untold numbers of Pfizer and AZ R&D staff?
There doesn't seem to be great disappointment surrounding this deal implosion other than by a few principals at Pfizer, a few opportunistic shareholders, and the investment bankers who miss out on their fat fees.
We now can go back to our regular programming until November or so -- that is unless Pfizer decides to break itself apart before then.
Posted by Bruce Lehr May 27th 2014.