AstraZeneca in negotiations with Bristol Myers Squibb for a $400 billion merger

British pharmaceutical giant AstraZeneca is in talks to acquire its American rival Bristol Myers Squibb. The deal, valued at nearly $400 billion, would be one of the largest in the industry's history.

AstraZeneca, the UK's largest listed pharmaceutical company, has entered into talks to acquire Bristol Myers Squibb, a US-based firm. If successful, the merger would create a group worth nearly $400 billion (approximately £300 billion) and make it the world's fourth-largest pharmaceutical manufacturer.

AstraZeneca has a market capitalization of nearly £196 billion in London. Bristol Myers Squibb, headquartered in Princeton, New Jersey, is valued at $133 billion. The American group is particularly known for its cancer treatments.

Pascal Soriot, AstraZeneca's CEO for many years, is leading these negotiations. No final agreement has been announced at this stage.