Pfizer walks away from $118 billion AstraZeneca takeover fight

[riky]

Pfizer walks away from $118 billion AstraZeneca takeover fight

<p><a href="http://news.yahoo.com/pfizer-walks-away-118-billion-astrazeneca-deal-141713354--finance.html"><img src="http://l1.yimg.com/bt/api/res/1.2/ipKYDO98tr5J5TpWk7KCtQ--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9NzU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2014-05-26T145340Z_16_CBREA460M4L00_RTROPTP_2_ASTRAZENECA-PFIZER.JPG" width="130" height="86" alt="The Pfizer logo is seen at their world headquarters in New York" align="left" title="The Pfizer logo is seen at their world headquarters in New York" border="0" /></a>By Ben Hirschler and Bill Berkrot LONDON/NEW YORK (Reuters) - Pfizer abandoned its attempt to buy AstraZeneca for nearly 70 billion pounds ($118 billion) on Monday as a deadline approached without a last-minute change of heart by the British drugmaker. AstraZeneca could reach out to Pfizer after three months and Pfizer could take another run at its smaller British rival in six months time, whether it is invited back or not. Pfizer's move came two hours before a 5.00 pm (1200 ET) deadline to make a firm offer or walk away, under UK takeover rules. Its decision to quit the stage, at least for now, had been widely expected after AstraZeneca refused its final offer of 55 pounds a share.</p><br clear="all"/>

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