BUSINESS 101

Just in case Pfizer is considering making still another offer--hostile or otherwise (and we're well aware of UK regulations on M&A activity)--to Astra-Zenica, keep in mind that these mega deals often happen at or near the top of bull markets,

If you're a Pfizer shareholder, large or small, you should let their BoD know such a deal is not in your best interest. Few if any of these big mergers create value for anyone other than investment bankers in exorbitant fees.

Money is cheap. Cheap money is supposed to be for creating value, things like jobs and increased productivity, giving the economy a needed shot in the arm. Most big mergers are job killers of the first degree. Pfizer's track record in these deals when it comes to adding value is pitiful.

But forget Pfizer for now. Check the record of other similar big deals. And like that famous Wendy's commercial some time back, you too will be asking: "Where's the beef?" As we said, what little there is goes to a few higher ups and those greed-driven bankers. 

Bankers are not now and never will be your friend, especially if the term is preceded by either investment or central.

As we said before, the tax savings was the best part of this stinker from the beginning. Much of the rest was just made-up-to-look-good sound bites. Now CEO Ian Read's probably a decent sort and his kids most likely love him, but he wasn't putting any money in the majority of shareholder's pockets.

And that, my thirsty shareholders, is supposedly one of the most basic tenets of Business 101.