0757 GMT - AstraZeneca could want to move closer to the U.S. market through a potential merger with rival Bristol Myers Squibb, analysts at Jefferies write. AstraZeneca declined to comment after Financial Times reported that the companies held merger talks, while BMS didn't respond to a request for comment. It isn't clear why AstraZeneca would go after the deal, but it could have a strategic desire to move closer to the U.S. and have more cash to spend on research and development, the analysts say. "We suspect that most people will focus on the potential to establish an even bigger oncology powerhouse, with the resultant portfolio likely the broadest in the industry. However, beyond the regulatory hurdles we would argue that pipeline assets could be sourced elsewhere, as [AstraZeneca] has been doing, particularly in China," they add. AstraZeneca shares fall 6.5%.