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AstraZeneca PLC rejects Pfizer proposal


Friday, 2 May 2014 05:50am EDT 

AstraZeneca PLC:Financial and other terms described in Proposal are inadequate, substantially undervalue AstraZeneca and are not a basis on which to engage with Pfizer.Large proportion of consideration payable in Pfizer shares and tax-driven inversion structure remain unchanged.Accordingly, Board has rejected the Proposal.