m&a

M&A is messier than investors might like

US pharmaceutical giant Pfizer has abandoned its plans to buy AstraZeneca following an unsuccessful pursuit of its UK rival.

When will the small cap M&A boom start?

Shares in pharma giant AstraZeneca plunged this morning after the group rejected a fresh offer from US firm Pfizer.

IFA business County Life & Pensions and investment manager Blacksquare are to be acquired by Tavistock Investments as part of its plans to assemble a national financial services business.

EFG Asset Management is set to launch an M&A tracker fund led by global chief investment officer Mozamil Afzal, together with head of equity research Robin Milway.

The increased use of company shares to finance M&A activity may be a warning sign for investors that valuations are topping out, leading fund managers have said.

US giant Pfizer has made an improved offer to buy AstraZeneca, the UK's second largest pharmaceuticals company, raising its bid to £50 a share.

Growth-focused UK equity managers have joined their income peers in backing pharmaceuticals as deals both real and rumoured send shares rocketing.

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