AstraZeneca nixes $8B Sobi buyout over fears a former drug would be sold to rivals — report
AstraZeneca has reportedly tanked a deal that would have taken high-profile rare disease company Sobi private over fears its respiratory drugs would fall into the hands of rivals.
The Big Pharma withheld its 8% stake in Sobi after a $7.6 billion offer from Advent International and Singapore’s sovereign wealth fund closed in September, Bloomberg reported early Friday morning, effectively blocking the buyout. Sobi, also known as Swedish Orphan Biovitrum, possessed certain assets AstraZeneca itself was interested in acquiring, the report said.
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