Well, they went and did it again.
One could ask what part of rejection doesn't Pfizer's headman, Ian Read, understand.
We've heard he's Scottish by birth. Maybe that explains it.
If you're a PFE shareholder--and we and our clients are--and this last rejection, like a good vaccine, takes, you ought to be thrilled. Vaccines are something PFE and its leader should grasp; it's part of their medical portfolio.
Truth be spread and it seldom is in these big acquisitions (Just ask KKR!) this one smelled from the beginning. Escaping the USA's onerous corporate tax burden, something all big US corporations ought to consider if for no other reason than to get the attention of those Washington buffoons, was the best part of this stinker.
If you were a money manager and your track record was as pathetic as Pfizer's M&A deals when it comes to creating value, you'd been tarred, feathered and left for broke a longtime ago.
And on a synergy basis the two sides had about as much in common as me and my ex-girl friend.
Pfizer should take a hint from Swiss voters who just rejected the highest minimum wage hike in the history of the planet by nearly 74 percent.
When you're not welcome, your not welcome.
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