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.
Astra chair: Deal appears to be at 'end of the road'
AstraZeneca chairman Leif Johansson has told ITV News he believes a potential takeover deal with Pfizer is "at the end of the road" after a number of issues remained unresolved.
He said Pfizer were told that they would have to raise last week's bid by at least 10% for it to be recommended to shareholders, "assuming other aspects of the deal" could be resolved.
"Neither of the two happened so that's where I think we are at the end of the road," he said.
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AstraZeneca: It ain't over until the 26th...
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.
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Is Pfizer's pursuit of AstraZeneca finally over?
AstraZeneca's share price is tumbling back down to earth after the board rejected a "final" Pfizer bid. So is the takeover really over?
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How should we regard Pfizer's promises?
Sweden's Finance Minister says the Government should be "very, very sceptical" about any promises the US pharmaceutical giant makes.