LONDON May 20 AstraZeneca's twelfth
largest shareholder Schroders has joined a chorus of investor
disapproval over its rejection of a takeover offer by Pfizer
and urged it back into talks.
In a statement on Tuesday, the British fund manager, which
holds a 2 percent stake in AstraZeneca, said it "would encourage
the AstraZeneca management to recommence their engagement with
Pfizer and subsequently their shareholders."
Schroders was also critical of intransigence on both sides
after AstraZeneca rejected on Monday a 55 pounds per share bid
by Pfizer which said it was its final offer.
"Schroders notes with disappointment the quick rejection by
the AstraZeneca board of the latest offer from Pfizer and the
decision of the Pfizer board to draw a premature end to these
negotiations by calling their latest proposal final," Schroders
(Reporting by Chris Vellacott. Editing by Matt Scuffham)