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US drugs giant Pfizer reveals AstraZeneca bid

US drugs giant Pfizer has confirmed details of a multi-billion pound takeover approach for the UK's AstraZeneca.

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AstraZeneca share price hits record-high in early trading

AstraZeneca's share price soared by 15 per cent in early hours trading on the back of speculation that US drugs giant Pfizer would renew its takeover bid for the UK pharmaceutical company.

Pfizer has confirmed details of a multi-billion pound takeover approach for the UK's AstraZeneca. Credit: Press Association Images/Lynne Cameron

Just after UK financial markets opened, AstraZeneca's share price hit a record high of £47.13 but slipped back slightly to 46.78 at 8.50am (BST).

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