Pfizer on a Quest to Acquire AstraZeneca and General Electric Makes $17B Bid for Alstom SA
Pfizer Inc. (NYSE: PFE) CEO Ian Read is in London urging ministers to back his company's proposed takeover of AstraZeneca (AZN). Read has told the Financial Times that any move to preserve a smaller U.K. “national champion” would be misguided. Pfizer recently revealed that the company is preparing a £60billion bid for AstraZeneca, who produces drugs combating diabetes, high cholesterol and cancer for millions of patients. AstraZeneca has already rejected two offers from Pfizer this year remarking that the bids were ‘very significantly undervalued AstraZeneca and its prospects’.
Pfizer Inc., a biopharmaceutical company, discovers, develops, manufactures, and sells healthcare products worldwide. Its product portfolio includes medicines and vaccines, as well as various consumer healthcare products. The companys Primary Care segment offers prescription pharmaceutical products primarily prescribed by primary-care physicians for various therapeutic and disease areas comprising Alzheimers disease, cardiovascular, erectile dysfunction, genitourinary, major depressive disorder, pain, respiratory, and smoking cessation. Its Specialty Care and Oncology segment provides prescription pharmaceutical products for anti-infectives, endocrine disorders, hemophilia, inflammation, ophthalmology, pulmonary arterial hypertension, specialty neuroscience, and vaccines, as well as oncology and oncology-related illnesses.
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General Electric Company (NYSE: GE) has made a $17 billion bid for Alstom SA (ALO)’s energy business in order to open official negotiations with the company so that they can prevent a potential counterbid from Siemens AG. A committee of independent directors will study the binding offer by June 2nd. Both GE and Siemens executives have been seeking approval from French government leaders, who are trying to extract guarantees for jobs and national energy independence.
General Electric Company operates as an infrastructure and financial services company worldwide. The companys Power and Water segment provides gas, steam and aeroderivative turbines, nuclear reactors, generators, combined cycle systems, controls, and related services; wind turbines; and water treatment services and equipment. Its Oil and Gas segment offers surface and subsea drilling and production systems, equipment for floating production platforms, compressors, turbines, turboexpanders, high pressure reactors, industrial power generation, and auxiliary equipment. The companys Energy Management segment provides electrical distribution and control products, lighting and power panels, switchgears, and circuit breakers; engineering, inspection, mechanical, and emergency services; motor, drives, and control technologies; and plant automation, hardware, software, and embedded computing systems.
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