Pfizer's CFO says the AZ merger failed for no other reason than Pfizer was unwilling to pay more. They offered 55 pounds per share and AZ asked for a minimum of 58.5 pounds per share. That was it. No cash. No sale. Every other issue raised in the press was window dressing according to Frank D'Amelio. He said Pfizer valued AZ to a certain point and was unwilling to go beyond their walk away price.
On that front, good for them i say. Too many times the thrill of the chase/kill gets in te way of good sense. Now what's Pfizer to do? I don't know and I'm not sure they do. They seem to be mulling over the further break up idea. We'll see soon enough I'm sure. See Bloomberg.
Posted by Bruce Lehr June 12th 2014.