Pfizer admits defeat on AstraZeneca bid
US pharmaceuticals giant Pfizer has called off its multi-billion pound bid to take over British-Swedish firm AstraZeneca. The decision came after AstraZeneca's board declined an offer worth almost £70bn.
US pharmaceuticals giant Pfizer has called off its multi-billion pound bid to take over British-Swedish firm AstraZeneca. The decision came after AstraZeneca's board declined an offer worth almost £70bn.
Labour leader Ed Miliband has reiterated his call for the Government to do an "objective test" on the impact of a potential takeover by Pfizer of AstraZeneca, despite the British firm's board rejecting the apparently final offer from the US drugs company.
Pfizer has until Monday until it admits defeat in bidding for AstraZeneca. But after the shenanigans of the past few days we cannot be sure.
AstraZeneca's share price is tumbling back down to earth after the board rejected a "final" Pfizer bid. So is the takeover really over?
Sweden's Finance Minister says the Government should be "very, very sceptical" about any promises the US pharmaceutical giant makes.