Board of UK drugmaker AstraZeneca rejects $119 billion offer from Pfizer; share price slumps

  • by: GREGORY KATZ , Associated Press
  • Updated: May 19, 2014 - 11:20 AM

LONDON — The board of AstraZeneca on Monday rejected the improved $119 billion takeover offer from U.S. drugmaker Pfizer, a decision that caused a sharp slide in the U.K. company's share price as many investors think it effectively brings an end to the protracted and increasingly bitter takeover saga.

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