Drugs giant set to unveil takeover deal

Pharmaceuticals giant Astra Zeneca is this week expected to announce a deal to acquire smaller rival Cambridge Antibody Technology, it was reported today.

The move is expected to value Cambridge Antibody Technology (CAT) at more than £600m, well up on the £420m it is currently valued at after its shares closed at 796.5p on Friday, according to the Sunday Times newspaper.