Reports surfaced over the weekend that a merger between Gilead and AstraZeneca was in the works, but new information indicates those rumors are not valid.
“What I can tell you this morning is that there’s nothing going on now. That there may have been a CEO to CEO approach. It’s not clear exactly how far, if at all, that got. I have spoken to numerous people who have advised these companies in the past, there does not appear to be anything going on right now.”
David Faber, Anchor on CNBC
The deal would have been one of the largest mergers to be announced in several months since COVID-19 caused M&A transactions to slow dramatically.