Pharmaceutical giant AstraZeneca is considering a merger with US rival Bristol Myers Squibb that would value the joint company at about $400 billion.
The two companies have been discussing a tie-up over the last few months, sources told the Financial Times. It would be one of the largest in history.
AstraZeneca and Bristol Myers Squibb did not immediately respond to requests for comment, but there is already concern about its implications for the London Stock Exchange if the UK company switches its listing to the US.
Last year, AstraZeneca said a listing on Wall Street would give it a stronger valuation, and hinted at a dual listing.
The company’s share price has more than quadrupled during Pascal Soriot’s 14-year tenure as CEO, soaring above main British rival GSK.
AstraZeneca has seen its figures driven by strong demand for cancer and rare disease drugs.
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