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Pfizer withdraws spurned offer for AstraZeneca
Modern Healthcare

Pfizer said Monday that it does not intend to make a takeover offer for British drugmaker AstraZeneca, pulling the plug for now on what would have been the largest deal in the industry’s history.

The announcement came a week after AstraZeneca’s board rejected a $119 billion buyout proposal from Pfizer, the world’s second-biggest drugmaker by revenue.

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