NEW YORK – Pfizer Inc was planning to make a sweetened bid for AstraZeneca PLC on Sunday, the Wall Street Journal reported on Sunday, citing people familiar with the matter.
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Pfizer, which has already been rebuffed more than once by AstraZeneca, first approached it late last year about a trans-Atlantic tie-up that would rank as one of the healthcare industry's biggest ever, WSJ reported.
The U.S. pharmaceutical company's most recent offer, made at the beginning of the month and worth about $106 billion, was rejected by AstraZeneca's board. Pfizer may walk away from the proposed deal if its latest takeover offer is rejected, WSJ said, citing sources.
(Reporting by Ashley Lau in New York; Editing by Cynthia Osterman)