AstraZeneca vulnerable after recent rumours
It has been a good week for equities, as encouraging earnings reports and a flurry of merger and acquisition activity in the pharmaceutical sector enhanced sentiment among investors.
Pharmaceutical stocks drove equities higher after the sector benefited from reports that AstraZeneca had been the target of a tentative takeover approach from Pfizer of the US. Simultaneously, news of an asset swap between GlaxoSmithKline and Novartis, combined with a takeover battle for Allergan, the maker of Botox, drove equities higher.
Analysts expect this could lead to more asset swaps among large corporations and with many companies carrying healthy cash balances it increases the likelihood that we are finally going to see the merger and acquisition boom that the Federal Reserve’s quantitative easing was always destined to create. (Más)
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