Pfizer says keen to engage with AstraZeneca board

  • Reuters, London
  • |
  • Updated: May 13, 2014 11:52 IST

Signboards of Anglo-Swedish pharmaceutical giant AstraZeneca are pictured in Macclesfield in northwest England. (AFP Photo)

US drugmaker Pfizer kept up the pressure on bid target AstraZeneca on Tuesday, saying its offer represented compelling value for a company which would otherwise face challenges as a standalone firm.

Pfizer released a statement to set out its case for the deal, just hours before its chief executive appears in front of a British parliamentary committee to explain why he wants to acquire Britain's second largest drugmaker.

AstraZeneca has rejected a $106 billion bid from Pfizer but the US group is widely expected to return with a higher offer later this week.


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