The $100 billion drug deal

Posted by Ben Hirschler and Ransdell Pierson

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pfizerU.S. drugmaker Pfizer Inc approached Britain’s AstraZeneca Plc two days ago to reignite a potential $100 billion takeover and was rebuffed, raising investor expectations it will have to increase its offer to close the deal.

Pfizer said on Monday it proposed a takeover to AstraZeneca in January worth 58.8 billion pounds ($98.9 billion), or nearly 47 pounds per share. It had contacted its British rival again on Saturday, seeking to discuss further a takeover.

The chase was welcomed by investors in both companies, as deal-making grips the healthcare industry….

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