Pfizer continued to make its case for acquiring AstraZeneca, expressing disappointment at the failure of the company to enter into negotiations.
“Pfizer wishes to enter into discussions with AstraZeneca regarding a potential combination of the two companies and remains disappointed at the lack of engagement by the AstraZeneca Board,” Pfizer stated. “As laid out below, Pfizer believes there is compelling rationale for a combination and if AstraZeneca engages in conversations to provide Pfizer with a better understanding of its business and its prospects it may lead to a transaction that AstraZeneca can recommend.”
Pfizer stated that AstraZeneca’s turnaround plan is flawed, adding that a combination of the two companies would aid both.
Pfizer has offered $6.8 billion to acquire AstraZeneca. An AstraZeneca release dismissed the Pfizer statement as containing no new information and repeated its assertion that the amount of the offer was inadequate.
The governors of Maryland and Delaware have demanded information from Pfizer regarding plans for operations in two states.
AstraZeneca is downsizing operations in Delaware and will eventually employ 2,000 in the state. AZ is adding 300 jobs in Maryland.
