U.S. pharmaceutical giant Pfizer (PFE.N) has approached British rival AstraZeneca (AZN.L) to propose a 60 billion pound ($101 billion) takeover, Britain's Sunday Times reported.
The paper cited senior investment bankers and industry sources saying that informal conversations about a deal had taken place between the two but that no talks were currently under way after AstraZeneca resisted the approach.
Pfizer and AstraZeneca both declined to comment on the report to Reuters.
AstraZeneca, Britain's second-biggest pharmaceuticals group, has been frequently touted as a potential takeover target as it wrestles with patents expiring on a number of best-selling drugs, leaving future growth uncertain.
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