AstraZeneca rejects takeover offer from Pfizer

AstraZeneca on Monday rejected a $119 billion takeover offer from U.S. drugmaker Pfizer.

Pfizer, which is the world’s second-biggest drugmaker by revenue, has been courting No. 8 AstraZeneca since January, arguing their businesses are complementary. On Sunday, it raised its stock-and-cash offer by 15 percent to $118.8 billion. That would be the richest acquisition ever among drugmakers and the third-biggest in any industry, according to figures from research firm Dealogic.

AstraZeneca didn’t take long to reject the new offer, its board arguing Pfizer is making “an opportunistic attempt to acquire a transformed AstraZeneca, without reflecting the value of its exciting pipeline” of experimental drugs.

Average gas prices drop 2.5 cents a gallon in Maine

Average gas prices in Maine have fallen 2.5 cents a gallon from a week ago.

The average price of a gallon of gas in Maine on Monday was $3.67 a gallon, according to gasbuddy.com.

The average price for a gallon of gas nationally is $3.62 a gallon. Gas prices in Maine are 12.5 cents a gallon higher than they were one year ago.

Indexes gain; fuel prices mixed with crude down

The Dow Jones industrial average added 20.55 points, or 0.1 percent, to end at 16,511.86. The S&P 500 index gained 7.22 points, or 0.4 percent, to close at 1,885.08. The Nasdaq composite index rose 35.23 points, or 0.9 percent, to finish at 4,125.82.

Benchmark U.S. crude for June delivery fell 59 cents to $102.61 a barrel on the New York Mercantile Exchange. Oil has risen by $2.87, or 2.9 percent, since the start of the month. Wholesale gasoline fell 1 cent to $2.96 a gallon. Natural gas added 6 cents to $4.47 per 1,000 cubic feet. Heating oil fell 1 cent to $2.94 a gallon.

Disneyland ticket price heads toward triple-digits

The price of a ticket at Disneyland is creeping closer to triple-digits. A single-day ticket for either Disneyland Park or Disney California Adventure Park is now $96 for those 10 and up.

– From news service reports