AstraZeneca shares plunge over talks with US cancer drug firm on $400bn merger

AstraZeneca, Britain's second-largest listed company, is discussing an acquisition of Bristol Myers Squibb, a US cancer-drug maker, in a deal valued at nearly four hundred billion dollars, per the Guardian. The tie-up would create the world's fourth-largest pharmaceutical group. On Monday, when the news broke, AstraZeneca's shares fell sharply, wiping more than fifteen billion pounds from its market value. Analysts are questioning the deal's rationale.

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