AstraZeneca shareholders to change their tune when money rolls in
Outlook Big shareholders in AstraZeneca have been less than effusive about the bid.
Some, like Aberdeen's Martin Gilbert, express reservations about the potential long-term impact on Britain's science base. Others, like Neil Woodford, fret about the effect on the combined companies' value a few years hence, saying they prefer the current AstraZeneca management to be left alone. More still, like Swedish giant Investor AB, simply think it undervalues the business.
But the big shareholders' trading patterns suggest most are licking their collective lips for the inevitable moment Pfizer significantly ups its offer. That's why they've been spending billions of pounds in recent days and weeks increasing their stakes in AstraZeneca.
A quick squint at the share register shows Mr Gilbert's own fund managers seem less squeamish than him about the deal, pumping up Aberdeen's stake last week by £511m. BlackRock and Axa likewise have been big buyers. But wiliest money-runner so far has to be JPMorgan Chase, which bought five million AstraZeneca shares in March, bringing its holdings up to nearly 14 million and giving it a paper profit of nearly £50m.
When a bid comes in north of £55 a share, expect investors' protesting voices quietly to disappear.
- 1 Planes go hybrid-electric in important step to greener flight
- 2 North Korean prison officers 'cooked prisoner's baby and fed it to their dogs', more horrific accounts from UN report reveal
- 3 Antonio Martin shooting: Mayor says there should be 'no comparison' to Ferguson
- 4 Antonio Martin shooting: Police and protesters clash over teenager's death just five miles from Ferguson, Missouri
- 5 British actor Idris Elba cannot star as James Bond because he is black, says shock jock Rush Limbaugh
Nigel Farage defends Kerry Smith 'ch***y' comment: 'If you are going for a Chinese, what do you say you’re going for?'
Rozanne Duncan: Ukip expels councillor for 'jaw-dropping' comments made in BBC TV interview
British actor Idris Elba cannot star as James Bond because he is black, says shock jock Rush Limbaugh
Germany anti-Islam protests: 17,000 march on Dresden against 'Islamification of the West'
Panic Saturday: 13 million Britons spend £1.2bn – while 13 million others across the country live in poverty unable to afford food
BBC director Danny Cohen: Rising UK antisemitism makes me feel more uncomfortable than ever
iJobs Money & Business
Highly Competitive: Selby Jennings: Our client, a leading European Oil trading...
£43500 per annum + pension + holidays: The Jenrick Group: Night Shift Operatio...
£20000 - £25000 per annum + OTE £40,000 + Car + Pension: SThree: SThree are a ...
£20000 - £25000 per annum + OTE £35K: SThree: We consistently strive to be the...