(MENAFN- AFP) The share price of British drugmaker AstraZeneca slumped on Monday after it rejected a final takeover bid from US rival Pfizer worth $117 billion (85 billion euros).
The shares tumbled 13.99 percent to £41.49 in early morning deals on London's FTSE 100 index of leading companies, which was down 0.49 percent at 6,822.25 points.
AstraZeneca on Monday rejected a final takeover bid from Pfizer that was pitched at £55 per share, valuing the British firm at £69 billion.
Pfizer had made an improved and final offer on Sunday, but warned that it would not proceed without a recommendation from AstraZeneca management.<
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