AstraZeneca and Gilead merger looms
Shares in AstraZeneca fell nearly 3% after a report it had approached Gilead Sciences about a possible merger
Stocks impacted: AstraZeneca (AZN), Gilead Sciences (GILD)
It is reported that the two companies are discussing a possible merger to form one the world’s largest drug companies. The U.K.’s largest drug-maker informally contacted Gilead last month to gauge its interest in a possible tie-up. If completed, the merger would be the largest health-care deal ever. AstraZeneca didn't specify terms for any transaction so far. According to some sources, Gilead is not currently interested in merging with another big pharmaceutical firm. The company is preferring instead to focus its deal strategy on partnerships and smaller acquisitions. Over the last 12 month, shares of AstraZeneca have risen about 41% while Gilead stocks gained about 19% over the same period. After the news about a possible merger, AstraZeneca stocks dipped nearly 3% on Monday.
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