Pfizer in $100bn ‘bid’ for UK rival

US pharmaceutical giant Pfizer has reportedly approached British rival AstraZeneca to propose a $100bn (€73bn) takeover.

A report said that informal conversations about a deal had taken place between the two, but that no talks were currently under way after AstraZeneca resisted the approach. Both companies have declined to comment on the report, carried in the British edition of the Sunday Times.

AstraZeneca, Britain’s second-biggest pharmaceuticals group, has been frequently touted as a potential takeover target as it wrestles with patents expiring on a number of bestselling drugs, leaving future growth uncertain.