How Pfizer snatched defeat from victory

Discussion in 'Pfizer' started by Anonymous, May 23, 2014 at 8:08 PM.

Tags: Add Tags
  1. Anonymous

    Anonymous Guest

    Google for a free copy of today's article from a role the pond in London.

    How Pfizer snatched defeat from victory

    The story of how AZ defended itself from a US goliath, is set to go down as one of the great dramas of British corporate history.

    Ian thought Pascal would fall into his arms when they met,” says one person close to AstraZeneca.

    For AstraZeneca, Pfizer’s about-turn created a sense of mistrust that only deepened during the brinkmanship that followed. “They never really tried to seduce us,” said one person close to the situation. “This was coercive from the beginning – the big US corporation that always gets its way.”

    Mr Read’s letter created the impression of a cosy deal with the government. Cameron turns on Pfizer.

    In the days that followed, the US company tried its best to stir rebellion among shareholders who were unhappy AstraZeneca had rejected the final offer so quickly and without consulting investors. But people close to the UK company say Mr Read only has himself to blame for declaring the offer final.

    Meanwhile, the UK scientific community was swinging behind AstraZeneca over Pfizer’s record of cuts. “You can’t underestimate how much Sandwich had soured opinion,” says a senior figure at a UK scientific institution, referring to Pfizer’s partial closure of a big R&D centre in Kent two years earlier. “Mistrust of Pfizer runs deep.”

    “Pfizer managed to snatch defeat from the jaws of victory,” says one senior executive at a big AstraZeneca shareholder.
     

  2. Anonymous

    Anonymous Guest

  3. Anonymous

    Anonymous Guest

    Any road. As the British saying goes, the gobby Ian Fall Arse Over Tit. Now fagged and off his trolley and on the piss. The old puff!
     
  4. Anonymous

    Anonymous Guest

    Morons in charge-again.
     
  5. Anonymous

    Anonymous Guest

    Nice to see what Ian and Frank did in Sandwich came back and bit them in there cocky rear ends. You reap what you sow.
     
  6. Anonymous

    Anonymous Guest

    Victory???? What Victory???? Just a matter of time. In 3 months AZ will be sold and in one year 50k plus people from az and pfe will be out of jobs....