Pfizer said that it will not be raising its final take-it-or-leave-it offer to acquire AstraZeneca, and the latter’s share price is down about 1.3% during pre-market trading today Pfizer Inc. (PFE) announced yesterday that it has abandoned its efforts to acquire London-based AstraZeneca plc (AZN) for $117 billion after a Monday 5:00 PM BST deadline, the official deadline for the latter company to make a decision, expired. Pfizer had said the offer it made on May 18 was final, and that the company will not be raising its bid. Shares of AstraZeneca are down about 1.3% in pre-market trading today as a result. Pfizer’s decision came Monday, when US markets had been closed due to the Memorial Day holiday. The decision was widely anticipated, however, as AstraZeneca had rejected a final take-it-or-leave-it offer that had valued AstraZeneca at £55 per share. British takeover rules state that AstraZeneca can get in touch with the New York City-based company in three months with a proposed sale offer. This may allow Pfizer to engage in takeover talks once again. In the event that AstraZeneca does not approach the company with a takeover offer, Pfizer will have to wait six months.