Michael White’s diary: AstraZeneca beware those asset strippers haven’t gone away

Pfizer hasn’t given up on its takeover bid

Don’t sell your AstraZeneca shares just yet. Far from giving up, Pfizer is prodding fund managers like BlackRock ($ 4tn under its wing) to strong-arm the Anglo-Swedish board into changing its mind, if not now then in three months. Takeover rules allow asset strippers Pfizer to try again in November. BlackRock, which holds no less than 8% of AZ, is not to be confused with Blackwater (now Academi), the US private army whose mercenaries are alleged to be in Ukraine. BlackRock is the one that never shoots its targets.

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