AstraZeneca shares fall 8.9% over merger talks with US cancer drug firm

AstraZeneca is in discussions to acquire Bristol Myers Squibb, the American cancer-drug maker, in a deal valued at around four hundred billion dollars, per the Guardian. The tie-up would create the world's fourth-largest pharmaceutical group. The news triggered a sharp sell-off on Monday: AstraZeneca's shares fell eight point nine percent, wiping out more than seventeen billion pounds of market value. Analysts, however, are questioning the rationale for the deal.

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