The Financial Times reports that merger talks between British pharmaceutical giant AstraZeneca and US peer Bristol-Myers Squibb have been terminated. The deal would have created one of the world's largest drugmakers with a market capitalisation of around 400 billion dollars. The two sides had been nearing an agreement on a plan for AstraZeneca to buy Bristol-Myers Squibb shares at a premium, aiming for an announcement in mid-August. However, the day after the talks were reported on 3 August, AstraZeneca's board decided to call them off.
AstraZeneca PLCMerger talks terminated, losing potential strategic combination
Bristol-Myers Squibb CompanyMerger talks terminated, losing potential premium acquisition
