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.
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).
Lord Sainsbury, the billionaire of supermarket fame, said that under no circumstances should any takeover deal be allowed to go ahead.
US pharmaceutical giant Pfizer has made a second attempt to takeover AstraZeneca. Here are some of the main points of the possible deal.
How a tie-up between two of the world's biggest pharmaceutical firms would affect Britain.