Pharma: AstraZeneca apparently considering mega-merger with US rival Bristol Myers Squibb
It would be one of the biggest mergers in business history. According to a media report, corresponding talks were held. However, it is still open whether there will be a merger.
Frankfurt. According to a newspaper report, British pharmaceutical company AstraZeneca is examining a merger with US competitor Bristol Myers Squibb. It would be one of the largest mergers in economic history. Together, both companies are currently valued at around $400 billion (around €345 billion) on the stock exchange. The corporations had conducted corresponding talks in the past months, the "Financial Times" reported on Sunday, citing insiders.
A conclusion could be reached in the near future, but it could also be delayed or fail altogether. The transaction would create one of the world's largest pharmaceutical companies. AstraZeneca and Bristol Myers Squibb initially did not respond to requests for comment. AstraZeneca currently has a stock market value of around £196 billion (around $264 billion), Bristol Myers Squibb around $133 billion.
AstraZeneca CEO Pascal Soriot would thus further advance the company's focus on the US market with a merger. The company, the second most valuable listed company in the UK by market capitalization, had upgraded its listing in New York in June. This was seen as a setback for London as a financial hub.
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