Business

Pfizer pulls plug on push to buy AstraZeneca

By Alex Veiga
Published May 26, 2014 6:29pm ET
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Pfizer pulls plug on push to buy AstraZeneca
In this May 4, 2014 photo, the Pfizer logo is displayed on the exterior of a former Pfizer factory in the Brooklyn borough of New York. Pfizer says it does not intend to make a takeover offer for British drugmaker AstraZeneca. The Monday, May 26, 2014 announcement comes a week after AstraZeneca's board rejected a proposed $119 billion buyout offer from Pfizer, the world's second-biggest drugmaker by revenue. (AP Photo/Mark Lennihan, File) | Mark Lennihan

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.

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Mergers and Acquisitions Pfizer Pharmaceutical Industry