The Globe and Mail - AstraZeneca rejects Pfizer’s $118-billion take-it-or-leave-it offer

Britain’s AstraZeneca on Monday rejected a sweetened and “final” offer from Pfizer , undermining the U.S. drugmaker’s plan for a merger to create the world’s biggest pharmaceuticals group.

The rebuff came nine hours after Pfizer said on Sunday it had raised its takeover offer to 55 pounds a share, or around 70 billion pounds ($118-billion) in total, and would walk away if AstraZeneca did not accept it.

Never put your eggs all in one basket!