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NEW YORK (TheStreet) -- Pfizer (PFE - Get Report) rose Monday amid reports that the U.S. pharmaceutical giant has approached British rival AstraZeneca (AZN) about a $101 billion takeover.
Britain's Sunday Times cited senior investment bankers and other sources within the industry to report the two companies have had informal conversations about a deal, but talks were not under way after AstraZeneca resisted Pfizer's advances.
AstraZeneca is Britain's second-largest pharmaceutical group.