AstraZeneca PLC (AZN, AZN.LN), Britain's second-largest drug
maker, has hired a pair of Wall Street investment banks to advise
it on any fresh takeover move by its larger U.S. rival Pfizer, The
Daily Telegraph reported on its website Monday.
Goldman Sachs Group Inc. (GS) and Morgan Stanley (MS) have been
drafted as advisers in case Pfizer launches a new attempt to buy
the FTSE 100 pharmaceutical company after a report over the weekend
revealed that the American company had discussed a 60 billion
British pound ($101 million) merger.
Pfizer is understood to have brought in J.P. Morgan (JPM) to
work on any potential bid, though the initial talks are said to
have ended several months ago and there is no current dialogue
between the two companies, The Telegraph said. Spokesmen for the
three investment banks declined to comment, The Telegraph
added.
Newspaper website: www.telegraph.co.uk
Write to Dennis Baker at dennis.baker@dowjones.com
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