AstraZeneca has held talks with Bristol Myers Squibb about combining the two drugmakers in a deal worth close to $400 billion. The discussions are still fluid, and people familiar with the matter say a deal could arrive soon or the talks could stall.
AstraZeneca has held talks with Bristol Myers Squibb about combining the two drugmakers in a tie-up worth nearly $400 billion, according to people familiar with the matter. The companies have discussed the combination in recent months, and the people said talks could produce a deal in the near future but may still be delayed or fall apart.
A combination would rank among the largest mergers ever attempted. AstraZeneca carries a market valuation of about £196 billion, making it the UK's second most valuable listed company. Bristol Myers Squibb, meanwhile, is worth roughly $133 billion.
A deal struck by long-serving AstraZeneca chief executive Sir Pascal Soriot would extend the company's pivot toward the US market. The company elevated its New York listing in June, a blow to the London stock market.
AstraZeneca declined to comment on the talks, while Bristol Myers Squibb did not immediately respond to a request for comment.
Source: Financial Times
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