Astra shares rise on speculation of renewed Pfizer bid

AstraZeneca’s stock has been rising for two weeks on growing expectations the British pharmaceutical firm will re-engage in merger negotiations with Pfizer after the partial expiration of a cooling-off period.

The two sides walked away from a £69.5bn (€88bn) deal in May after failing to reach an agreement on price.

Under the UK’s takeover rules, AstraZeneca or Pfizer now can take the first steps toward a renewed deal.